Forex indicator ChannelsFIBO is an indicator for building a dynamic channel based on Fibonacci levels without repainting.
ChannelsFIBO indicator is a modification of the MA Channels FIBO indicator, in which repainting has been eliminated. Also the calculation of levels is performed much faster.
Forex indicator ChannelsFIBO searches for the maximum price shift from the moving average on the selected interval and takes it as 100% of the channel. Based on this shift, the indicator draw lines with percentage values based on Fibonacci numbers.
Some traders say that indicators based on Fibonacci levels are one of the most accurate and profitable indicators on Forex. Therefore, the use of the ChannelsFIBO indicator will increase the effectiveness of any trading strategy.
Features of ChannelsFIBO indicator
- Platform: Metatrader 4
- Ability to change settings: Yes
- Timeframe: any from 1 Minute to Daily
- Currency pairs: any
In channelsfibo_ad.zip file you will find:
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