Fibonacci Progression Indicator for MetaTrader 5
The Fibonacci Progression Indicator is a technical analysis tool for MetaTrader 5 designed to project future price levels using Fibonacci progression logic. It helps traders identify potential price targets beyond the current range during trending market conditions.
The indicator focuses on price expansion rather than retracement analysis.
Indicator Logic
The Fibonacci Progression Indicator analyzes completed price swings and calculates Fibonacci progression levels based on these movements. The projected levels are extended forward on the chart, providing a visual reference for potential price objectives and reaction areas.
This logic supports structured trade planning and target definition.
Key Features
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Automatic calculation of Fibonacci progression levels
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Projection of potential price targets
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Useful for trend continuation analysis
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Helps structure profit target planning
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Works on multiple instruments and timeframes
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Fully compatible with MetaTrader 5
Recommended Use
The Fibonacci Progression Indicator is best used as a planning and projection tool. Traders typically combine it with trend direction, market structure, or momentum confirmation to evaluate continuation scenarios and manage exits more effectively.
