Fibo_Average - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources
Fibonacci Averages show a moving average calculated based on bar prices and offset from the current moving average based on Fibonacci numbers. Additionally, it displays a second moving average calculated based on data from the first Fibonacci moving average.
It has four inputs:
Calculation example:
If the number of Fibonacci numbers (FiboCount) = 8, then
FiboMA = (Price[i] + Price[i+1] + Price[i+1] + Price[i+2] + Price[i+3] + Price[i+5] + Price[i+8] + Price[i+13]) / FiboCount
MA = MA(FiboMA, period, method)
Price = FiboMA Application Price
Attachment download
📎 fibo_average.mq5 (11.94 KB)
Source: MQL5 #21406
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