SMC Fibonacci OTE
- Indicators
- Version: 1.0
- Activations: 11
SMC Fibonacci OTE for MetaTrader 5
Automated chart analysis for traders who use market structure and Fibonacci retracements. This indicator draws analytical levels and alerts; it does not place or manage orders.
SMC Fibonacci OTE is a technical indicator for MetaTrader 5 designed for traders following Smart Money Concepts (SMC). It automates the detection of market structure shifts and maps the Optimal Trade Entry (OTE) zone, providing you with clear entry, stop loss, and multiple take-profit levels.
By eliminating manual Fibonacci drawing, this indicator ensures consistency and helps you stay focused on executing your strategy with discipline.
Why Trade with SMC Fibonacci OTE?
- Dynamic analysis: Fibonacci anchors can update as the trading leg extends. Evaluate how levels and signals develop in visual testing rather than judging only the completed chart.
- Fully Automated Analysis: Automatically detects Break of Structure (BOS) and anchors Fibonacci retracements to the current trading leg.
- Reference Levels: Automatically calculates an entry level, a structural stop loss, and three distinct target levels based on Fibonacci extensions.
- Universal Application: Works on any symbol (Forex, Gold, Indices, Crypto) and any timeframe (from M1 to Monthly).
- Clean Information Panel: A real-time dashboard shows current market direction, OTE zone status, and calculated price levels.
Core Trading Logic
The indicator uses the following market-structure workflow:
- Structure Detection: It identifies Swing Highs and Swing Lows. When price closes beyond a previous swing, it marks a Break of Structure (BOS).
- OTE Zone Mapping: Upon a BOS, the indicator automatically draws a Fibonacci retracement. It highlights the Optimal Trade Entry (OTE) zone (typically between 61.8% and 78.6% retracement).
- Signal Display: When price returns to the OTE zone, the indicator generates a signal and projects the entry and target levels.
Key Features
- Dynamic Fibonacci Anchoring: The tool automatically adjusts the Fibonacci anchor as the move extends, ensuring your OTE zone is always relevant to the current leg.
- Multiple Target Extensions: Provides three profit targets:
- Target 1: The recent extreme (0.0 level).
- Target 2: 0.272 Extension.
- Target 3: 0.618 Extension.
- Comprehensive Alerts: Get notified via Desktop Pop-ups, Push Notifications, or Email when:
- Market structure breaks.
- Price enters the OTE zone.
- Targets or Stop Loss levels are reached.
- Customizable Appearance: Full control over colors, line styles, transparency, and panel positioning to match your chart template.
How to Use
- Identify the Trend: Wait for the indicator to mark a Higher High (Bullish) or Lower Low (Bearish) break of structure.
- Wait for the Retracement: Monitor the shaded OTE zone.
- Review the Signal: Observe the projected entry level when price reaches the OTE band. Assess it against your own trading rules.
- Review the Reference Levels: Inspect the projected stop and three targets. Displayed levels do not submit protective orders or manage account exposure.
Input Parameters
- Structure Settings: Adjust the "bars on each side" to define swing sensitivity.
- Fibonacci & OTE Band: Customize retracement levels (default 0.618 and 0.786) and visibility.
- Signals & Risk: Set the stop loss buffer percentage and customize the three target extension coefficients.
- Alerts: Independent toggles for all major events and notification channels.
- Appearance: Complete UI customization for the panel and chart objects.
Support & Community
I am committed to providing regular updates and support. If you have questions or need assistance with settings, please:
- Post a comment in the Comments tab.
- Send me a Private Message via MQL5.
Note: This indicator is an analytical tool and does not perform automated trading. The final trading decision always rests with the user.
Before purchasing
Use the Market demo in visual Strategy Tester mode to inspect structure detection, anchor updates and alerts with your preferred symbol and timeframe. Chart levels are analytical references, not a promise of profitable trades.
