Forex Fibonacci Auto Drawing MT4 Indicator

Forex Fibonacci Auto Drawing MT4 Indicator:

About the Forex Fibonacci Auto Drawing MT4 Indicator

Automatic Fibonacci levels

The indicator automatically draws Fibonacci levels of the last closed bar of the specified time frame.

  • helps to see potential reversal levels;
  • patterns formed near the levels have more potential;
  • significantly saves time spent on manual level plotting;

Adjustable parameters:

  • The time frame used to plot the levels;
  • Personalization of Fibonacci levels: main correction levels + extension levels;
  • Line color, line width and line style;

Settings:

When loading the indicator, you will be presented with a set of options as input parameters.

  • TimeFrame for Fibo: time frame used to draw Fibonacci levels. The High and Low coordinates of the last closed bar are used;
  • Main Fibo Levels: the main Fibo levels: the values are specified in a line separated by a space, the decimal separator is a point(.);
  • Extension UP Levels: upper extension levels;
  • Extension DOWN Levels: lower extension levels;
  • Main color: the color of the main Fibo levels;
  • Upper color: the color of the upper extension levels;
  • Lower color: the color of the lower extension levels;
  • Line style: line style (solid/dotted…);
  • Line width: line width;

Test results:

Forex Fibonacci Auto Drawing MT4 Indicator

Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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