Dual Fibo Auto Pro MT5

Dual Fibo Auto Pro is a professional technical and Elliott wave analysis tool that automatically detects price extremes using an enhanced ZigZag indicator and maps two independent Fibonacci grids utilizing an intelligent algorithm.

• The first grid displays the current direction of price action relative to the latest completed ZigZag swing.
• The second grid automatically searches historical data to select the swing exerting the greatest influence on current market conditions (impulses, sharp price spikes, pullbacks, and major trend movements).

The indicator dynamically adapts to shifting market volatility, delivering deep insight into the current market structure across any symbol and timeframe.

Chart Display Features

• Enhanced ZigZag: A classic algorithm featuring extended outside bar handling (controlled via Depth, Deviation, and Backstep parameters). If a single bar registers both a new high and a new low, candle color determines priority, allowing a peak and a trough to form on the exact same bar.
• Swing Percentage Labels: Displayed above each peak and below each trough, indicating the current swing size as a percentage of the preceding one (e.g., 61.8% denotes a preceding wave retracement, while 161.8% indicates a wave 1.618 times larger than the prior one). Only completed swings are labeled.
• First Fibonacci Grid (silver by default): Positioned on the most recently completed swing.
• Second Fibonacci Grid (blue by default): Positioned on a larger historical swing preceding the first grid. Features its own extended level set (including 23.6 and 76.4 by default).

First Grid Logic

The grid shifts to a new swing when the current ZigZag leg retraces by at least the specified percentage threshold (38.2% by default). If the pullback remains minimal and price immediately breaks the extreme, the grid stays locked to the prior swing and flips orientation: the 0% level aligns with its origin, while extension levels (127.2, 161.8, 261.8) project toward the ongoing price movement.

Second Grid Logic

• Upon initialization, the indicator calculates the size of the first grid's swing and locates the nearest larger historical swing. The second grid consistently resides at a deeper historical level and never overlaps the first.
• The 0% level is anchored to the swing's origin. If price breaks beyond this threshold, the grid instantly flips toward the current price direction.
• As long as price remains within the configurable 161.8 threshold level, the grid preserves its position even if the first grid transitions to newer swings.
• Once the 161.8 threshold is breached (or if price tests both boundaries of the swing), the indicator searches for a new global swing relevant to current market structure during the subsequent ZigZag swing.
• If no qualifying swing is identified, the grid holds its current position and flips toward the stronger breakout side; this search repeats on every new ZigZag swing.
• High Performance: The indicator consumes minimal system resources: on every tick, the ZigZag is recalculated exclusively across recent extremes, while adjustments to the second grid occur strictly on confirmed ZigZag points upon swing finalization.

Trading Applications

• Identifying key convergence zones where levels from both grids overlap or closely align.
• Visualizing corrective and consolidation phases within the range of the higher-degree Fibonacci grid.
• Establishing target objectives using 127.2, 161.8, and 261.8 extensions for current impulses and global waves.
• Evaluating retracement depth via wave-ratio percentage tags.
• Performing comprehensive multi-timeframe and multi-asset market structure analysis (Forex, Crypto, Indices, Stocks).

The indicator does not generate automated entry signals. Its core purpose is to clearly visualize live market structure through the lens of technical and wave analysis. The final ZigZag leg develops concurrently with price action and remains subject to revision like any standard ZigZag; consequently, the first grid may adjust accordingly. Completed historical swings remain static.

Input Parameters

• ZigZag Depth, ZigZag Deviation, ZigZag Backstep — Core ZigZag parameters (default: 12, 5, 3).
• ZigZag Color, ZigZag Width — Line color and thickness for the ZigZag.
• Draw Fibonacci levels — Toggles display of the first Fibonacci grid.
• Retracement percentage when the first Fibo moves to a new swing — Minimum pullback percentage required to shift the first grid to a new swing (38.2).
• First Fibo levels in percent — Comma-separated list of levels for the first grid.
• First Fibo levels color — Color scheme for the first grid.
• Draw Second Fibonacci levels — Toggles display of the second Fibonacci grid.
• The level of the second Fibo breakout to move to a new swing — Breakout threshold for the second grid to search for a new swing (161.8).
• Second Fibonacci levels in percent — Comma-separated list of levels for the second grid.
• Second Fibonacci Color — Color scheme for the second grid.
• Show Fibo levels as Ray — Extends levels infinitely to the right.
• Show the swing size as a percentage of the previous one — Toggles swing percentage tags.
• Percent text color, Percent text size — Text color and font size for percentage labels.

Integration in Expert Advisors and Custom Indicators (iCustom)

For automated trading system developers, ZigZag extreme coordinates are accessible directly via indicator buffers:

Buffer 0 — Peaks
Buffer 1 — Troughs
Example call via the iCustom function:

int handle = iCustom(_Symbol, _Period, "Market\\DualFiboAutoPro", 12, 5, 3);

double peaks[], troughs[];

CopyBuffer(handle, 0, 0, 100, peaks); // Peak values

CopyBuffer(handle, 1, 0, 100, troughs); // Trough values

MetaTrader 4 Version: Dual Fibo Auto Pro MT4

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