Fibo Scalp MT5
- Indicators
- Version: 1.0
- Activations: 10
Fibo Scalp - Complete Multi-Timeframe MT5 Indicator Guide
Welcome to Fibo Scalp, a native MetaTrader 5 indicator designed to completely automate the hunt for high-probability Fibonacci retracement setups.
Instead of cluttering your chart by manually drawing Fibs and waiting for price to retrace, Fibo Scalp's engine tracks market structure in the background. It dynamically maps fractal swings, validates structural breaks, and alerts you the exact moment price taps your chosen entry zone across multiple timeframes concurrently.
How to Trade With Fibo Scalp
Fibo Scalp is highly versatile. Here are the two primary ways traders utilize this engine:
1. Direct Signal Scalping
This is the most straightforward approach, ideal for active scalpers looking for quick in-and-out trades.
- The Setup: Simply attach the indicator to a low timeframe (like the M5 or M15).
- The Execution: Wait for the indicator to map a swing and paint a signal arrow. When a Bullish arrow appears, it means the price has pulled back into your Fibonacci entry zone and is rejecting it in the direction of the trend.
- Trade Management: You can take the trade immediately upon the signal, placing your stop loss just beyond the invalidation level (e.g., the 61.8% or 78.6% Fib) and targeting recent swing highs/lows.
2. Dual-Timeframe Confirmation (The High-Probability Method)
This method filters out market noise by aligning short-term momentum with long-term bias.
- The Setup: You will use the indicator's Multi-Timeframe capabilities. Open an execution chart (e.g., M3 or M5) but ensure a higher timeframe (e.g., M15 or H1) is armed in your dashboard.
- The Execution: Wait for a signal to fire on your Higher Timeframe (the bias). For example, if you receive a Bullish signal on the M15, you now know the larger trend is resuming upward from a deep pullback.
- The Entry: Switch to your Lower Timeframe (the execution chart) and wait for a matching Bullish Fibo Scalp signal to fire. Because the higher timeframe is already confirming the move, this lower timeframe entry offers a much tighter stop loss with massive risk-to-reward potential.
The Interactive Dashboard
To keep your MT5 workspace clean, Fibo Scalp utilizes a sleek on-chart panel.
- Quick Toggle: Hit the 'A' key on your keyboard to instantly show or hide the dashboard.
- Dynamic Filtering: The panel lists your current Host timeframe alongside up to 3 background timeframes. Click the Bullish or Bearish buttons to arm/disarm alerts on the fly. This allows you to aggressively filter out lower timeframe noise when higher timeframes are in a strong, one-sided trend.
Input Parameters Breakdown
MetaTrader 5 organizes these settings into distinct Input Groups. Here is a breakdown of every setting so you can fine-tune the engine to your exact trading style.
Group: Timeframes
- InpTF1 / InpTF2 / InpTF3: Choose up to three additional timeframes to monitor in the background. The indicator will process setups on all of these concurrently without you needing to open extra charts.
- InpBgWarmupBars: The amount of historical data fetched for the background timeframes upon initialization. 300 is recommended for efficient fractal mapping without draining your CPU.
- InpIncrementalBars: The number of bars requested per tick update to keep the background timeframes synced.
Group: Pattern Engine
- InpMaxPatternsPerDirection: The maximum number of active, unfolding setups tracked simultaneously per timeframe.
- InpMaxPatternAgeBars: The "expiration timer." If the market ranges and a pattern stays pending for this many bars without triggering an entry or hitting the invalidation level, it is scrapped.
Group: Fractal Settings
- InpFractalBars: The core structural lookback. A value of 3 means the engine requires 3 lower highs on the left and 3 lower highs on the right to confirm a swing high. Higher values find major macro swings; lower values catch faster, micro scalps.
Group: Fibo Size Filter
- InpMinRangeATRMult: A volatility filter. If set to 1.5, the physical size of the fractal swing must be at least 1.5x the current ATR. This prevents the indicator from drawing Fibs on tiny, insignificant chop during dead market hours. Set to 0.0 to turn this off.
- InpATRPeriod: The lookback period for the Average True Range calculation.
Group: Fibonacci Logic
- InpFibEntryLevel: The exact retracement level (e.g., FIB_LEVEL_236 for 23.6%) where the setup transitions to "Entry Wait" mode.
- InpFibInvalidLevel: The deeper retracement level (e.g., FIB_LEVEL_618 for 61.8%) that acts as your hard stop/invalidation. If price hits this, the pattern is canceled.
Group: Fibonacci Drawing
- InpDrawFib: When true, the indicator will automatically draw the Fibonacci objects on your screen when a setup triggers. (Note: Visual objects are only drawn on the Host timeframe you are currently viewing).
- InpShowFibs: Toggles the overall visibility of the drawn Fibo objects.
- InpFibColor: The color of the diagonal trendline anchoring the Fibonacci tool.
- InpFibRayRight: Projects the horizontal Fibonacci levels infinitely to the right side of the chart.
- InpFibBack: Forces the Fibonacci objects to render behind the chart candlesticks, ensuring clear visibility of price action.
- InpFibLevelColor / Style / Width: Full customization for the horizontal Fibo retracement lines.
Group: Signal Arrows
- InpBullColor / InpBearColor: The colors applied to the buy and sell signal arrows on your chart.
- InpBullArrowCode / InpBearArrowCode: The Wingdings font code used to draw the arrows (233 and 234 are the default directional arrows).
- InpArrowWidth: The graphical thickness of the signal arrows.
- InpArrowOffsetPoints: The padding (in points) between the high/low of the candlestick and the tip of the arrow.
Group: Alerts
- InpAlertPopup: Triggers standard MetaTrader terminal alert boxes.
- InpAlertSound: Plays a local audio cue upon signal generation.
- InpAlertSoundFile: The specific .wav file to play (ensure this file is in your MT5 Sounds directory).
- InpAlertPush: Sends push notifications directly to your linked MT5 mobile application.
- InpAlertOnHistory: If enabled, the indicator will bombard you with alerts for setups found in the past when you first compile or attach it. (Highly recommended to leave this as false).
- InpAutoArmDefault: If true, all timeframes in your interactive dashboard start in the "Armed" (ON) state when you load the indicator.
Group: Dashboard
- InpShowDashboardOnStart: If true, the interactive UI panel is visible as soon as the indicator is attached.
- InpClearTogglesOnExit: If true, the indicator cleans up the terminal's Global Variables when removed, forgetting which dashboard buttons you had turned on or off.
