Fib_SR - indicator for MetaTrader 5

Author:

Eli hayun

The indicator shows possible resistance and support zones in the form of colored rectangles.

//+----------------------------------------------+
//| Indicator input parameters                   |
//+----------------------------------------------+
input ENUM_TIMEFRAMES Timeframe=PERIOD_D1;  //Indicator timeframe used for calculations
input uint   NumberofBar=1;                 //Bar number for the indicator calculation
input double Ratio1 = 0.618;                //First ratio
input double Ratio2 = 1.382;                //Second ratio
input color  Color_Res2 = clrLime;          //The color of the second resistance zone
input color  Color_Res1 = clrGreen;         //The color of the first resistance zone
input color  Color_Sup1 = clrRed;           //The color of the first support zone
input color  Color_Sup2 = clrMagenta;       //The color of the second support zone
input uint   RightTail=60;                  //Projection of the rectangles to the right beyond the zero bar, in minutes
input uint   LeftTail=60;                   //Projection of the rectangles to the left beyond the starting bar, in minutes

This indicator was first implemented in MQL4 and published in the Code Base at mql4.com on 30.01.2008.

Fig.1. The Fib_SR indicator