Indicators: AutoFibo indicator of two last swings based on ZigZag for MT5
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Generally speaking - it's good. But there's an issue with the zigzag (the common zigzag) that it does not reveal the completion of the leg. That means it can simply repaint and repaint the Fibonacci levels as well
Conor Mcnamara #:
Generally speaking - it's good. But there's an issue with the zigzag (the common zigzag) that it does not reveal the completion of the leg. That means it can simply repaint and repaint the Fibonacci levels as well
In general when we get the confirmed High-Low with Fibo then we plan the trade as per the direction...
Generally speaking - it's good. But there's an issue with the zigzag (the common zigzag) that it does not reveal the completion of the leg. That means it can simply repaint and repaint the Fibonacci levels as well
Satnam Singh #:
In general when we get the confirmed High-Low with Fibo then we plan the trade as per the direction...
In general when we get the confirmed High-Low with Fibo then we plan the trade as per the direction...
the point I was making that you can easily lose, because when you think you reached the highest point, you see wow...suddenly the leg grows higher, and the high point is moot. So there is no "confirmed" high or low until it is too late. Sure take a gamble, I was just pointing out that the zigzag itself has this problem
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AutoFibo indicator of two last swings based on ZigZag for MT5:
The AutoFibo indicator is an advanced Fibonacci retracement tool that automatically draws Fibonacci levels based on the ZigZag pattern. This indicator is designed to help traders quickly identify potential support and resistance levels in trending markets.
Author: Marek Tomasz Korzeniewski