This indicator will automatically draw 4 Fibonacci levels on the chart.
Dynamic Fibonacci will be drawn on the last of zigzag line.
Static Fibonacci will be drawn on the 3 last of zigzag line.
Fibonacci projection 1 and 2 will be drawn on the last zigzag line also.
This way, you can see several Fibonacci level to get prediction of next support and resistance of market price.
Indicator does not work if less than 500 bars are available.
- Depth - Zig zag depth parameter. Default is 24.
- Deviation - Zig zag deviation parameter. Default is 5.
- Backstep - Zig zag backstep parameter. Default is 3.