MQLHub Auto Fibonacci MT5
This indicator draws Fibonacci retracement levels based on the trend direction. The Highs and Lows are automatically selected using the Maximum and Minimum area available on the chart. You can zoom in/out and scroll to adjust the Fibonacci levels accordingly.
- Auto: Indicator will draw the Fibonacci levels automatically based on the chart area.
- Manual: Indicator will draw the Fibonacci levels only one time. After that, you can change the anchor points manually.
- Fibo Mode:
- Auto: Indicator draws the Fibonacci retracement levels without any human intervention.
- Manual: Indicator draws the Fibonacci retracement levels only one time. After that, you can stretch the anchor points manually.
- Show Unretraced Line: Show/Hide the area on chart that is still untouched by the price retracement.
- Rest of the inputs are self-explanatory.
- Predicts the future profit targets logically.
- Strong reversal possibility when combined with support/resistance or trend lines.
- Provides a low-risk entry in the trending market.