Auto Fibo Extended - indicator for MetaTrader 5

Auto Fibo Extended is a MetaTrader 5 indicator designed to automatically identify significant swing highs and swing lows and draw Fibonacci Retracement and Extension levels directly on the chart.

The indicator analyzes historical price data over a user-defined number of candles and automatically determines the two extreme points used to construct the Fibonacci structure.

One of its main features is the ability to display two independent Fibonacci structures simultaneously, calculated from two different timeframes. This allows traders to analyze market movements from both lower and higher timeframe perspectives without manually drawing Fibonacci objects.

Key Features

1. Automatic Fibonacci Detection

The indicator automatically identifies:

• The highest High within the selected lookback period.

• The lowest Low within the selected lookback period.

• The chronological order of these extremes.

• The appropriate Fibonacci direction.

2. Two Independent Timeframes

You can display two Fibonacci structures simultaneously:

• Fibonacci 1 – Lower timeframe.

• Fibonacci 2 – Higher timeframe.

Each structure has independent color settings and can be configured using different timeframes.

3. Automatic Direction Detection

Three direction modes are available:

• Auto: Determines the direction based on which extreme occurred first.

• Low to High: Draws Fibonacci from the lowest Low to the highest High.

• High to Low: Draws Fibonacci from the highest High to the lowest Low.

4. Extended Fibonacci Levels

The indicator includes the following levels:

• -100.0%

• -61.8%

• -38.2%

• -23.6%

• 0.0%

• 23.6%

• 38.2%

• 50.0%

• 61.8%

• 78.6%

• 100.0%

• 127.2%

• 161.8%

• 200.0%

• 261.8%

• 423.6%

These levels provide a visual framework for analyzing potential support and resistance areas, retracements, and price extension targets.

5. Automatic Price-Level Labels

Each Fibonacci level can be displayed in a colored information box on the right side of the chart.

The labels:

• Display the Fibonacci percentage.

• Identify the corresponding timeframe.

• Automatically follow their price levels.

• Adjust their positions when the chart is resized, zoomed, or scrolled.

• Can be customized with different background, text, and border colors.

6. Precise Higher-Timeframe Anchoring

When a higher-timeframe Fibonacci structure is displayed on a lower-timeframe chart, the indicator searches for the exact candle containing the corresponding High or Low.

This improves the visual alignment of Fibonacci anchors with the actual price extremes.

7. Automatic Chart Updates

The indicator uses both timer events and market tick updates to maintain its drawings.

It also avoids unnecessary object modifications when the Fibonacci anchor points have not changed, helping to reduce flickering.

Customization Options

Users can customize:

• Lookback period (number of analyzed candles).

• Lower and higher timeframes.

• Fibonacci direction.

• Fibonacci line color.

• Line style and width.

• Visibility of level labels.

• Label font size.

• Label background and text colors.

• Label border color.

• Horizontal label positioning.

How to Use

1. Install the indicator in MetaTrader 5.

2. Attach Auto Fibo Extended to any chart.

3. Select the desired lower and higher timeframes.

4. Configure the lookback period.

5. Choose automatic or manual Fibonacci direction.

6. Customize colors, line styles, and level labels.

The indicator automatically calculates and displays the Fibonacci structures.

Important Notes

• The indicator works with historical price data.

• The two Fibonacci structures are calculated independently.

• If both timeframe selections are identical, only one Fibonacci structure is displayed.

• Either timeframe can be disabled.

• The indicator does not generate trading signals or execute trades. It is a technical analysis tool designed to assist traders in identifying potential price levels.

Auto Fibo Extended provides an automated and flexible approach to Fibonacci analysis, helping traders visualize market structure and potential retracement and extension zones across multiple timeframes.