Fibonizer is a really fascinating tool. It allows users to see what lies behind the price movements by combining in reality two indicators for the price of one (check the screenshot).
- The blue line represents the evolution of the difference in pips between the High and the Low of the daily candle at any time on any timeframe below the daily one. The goal here is to know immediately what is going on during periods of high volatility.
- The red line specifies when a trend is emerging: if the trend is up, its value is 100 and if it is down, it is 0. The value displayed between these two extremes is the value of the retracement in percentage of the daily candle, allowing Fibonacci analysis.
Using Fibonizer can be a system by itself or it can improve the accuracy of your already existing strategy. And last but not least, it is EA-friendly!