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Fibo Zone

The indicator displays strong support and resistance areas near the levels of certain type calculated using ZigZag vertices with greater amplitude. The strength of levels is defined by the accumulation of Fibo levels calculated using ZigZag vertices with lower amplitude.

These areas can be considered as potential reversal zones and used to perform trades and fix profit. Potential reversal zones efficiently sort out the signals received from the oscillators.

Also, the functionality for the detection and construction of harmonic 5-points patterns on the basis of the vertices of the ZigZag indicator with greater amplitude is provided. The search is conducted not only by well-known patterns, such as Gartley, Bat, Butterfly, Crab, etc., but by all 5-point patterns having the vertices corresponding the Fibonacci Retracement entered in the indicator settings.

Input Parameters

  • Max Amplitude of Swing – big ZigZag's swing amplitude.
  • Min Amplitude of Swing – small ZigZag's swing amplitude.

Swing amplitude is set in percentage value: 1% for EURUSD – about 130 standard points.

  • Type of Calculation types of calculation of the main levels and potential reversal zones:
    • Levels of greater amplitude – the basis for the potential reversal zones are Fibonacci levels calculated using vertices of the last swing of ZigZag.
    • Density around the Harmonic Levels – the basis for the potential reversal zones are similar Fibonacci levels calculated using two last vertices of ZigZag (ABCD).
    • Density around the Levels of Crossing Pitchforks – the basis for the potential reversal zones are levels of Andrew’s pitchforks crossing built on the vertices of 5 ZigZag swings (XAB and BCD).
  • Use the Level of Crossing Pitchforks Filter filter that considers presence of pitchfork crossing levels in potential reversal zone.
    • Do not use filter
    • Levels of Crossing in Area
  • Use Harmonic Filter retracements XB, AC, BD, XD should correspond the specified Fibonacci levels.
  • Fibo Series – Fibo levels used in calculations of the areas. By default:

The series are comma-separated with no spaces.

  • Use Fibo Extensions – small ZigZag swings changing over time are considered when calculating the area's power. Actually, the power of the previously calculated areas changes as time passes and new small ZigZag vertices appear.
  • Deviation from Areas – standard deviation from the area defined by the big ZigZag (in percentage value). This parameter is used when searching for harmonic patterns.
  • Amount of strong Areas – number of the strongest areas out of all calculated ones. The strength of the area is defined by the number of levels it contains.
  • Use Max Time – delete unused areas over time.
  • Swing on History – number of swings of the ZigZag with a big amplitude, for which the indicator will draw potential reverse areas on history data.
  • Create Areas – display the Area.
  • Create Levels – display the Levels.
  • Create Levels of Crossing Pitchforks – display the Levels of Andrew’s pitchforks
    • Do not create Levels
    • Create all Levels
    • Create only Levels in Area
  • Create Price Labels – display the price label.
  • Create Extensions Harmonic Butterflies form the harmonic pattern development.
  • Create Actual Harmonic Butterfly display the harmonic 5-point pattern
  • Create Sperandeo Trend display the trend line (Sperandeo method)

Tips on the Indicator Settings

Min Amplitude of Swing, Max Amplitude of Swing, Amount of Areas and Deviation from Areas are closely linked. Changing one parameter may significantly alter the data displayed on the price chart:

  • If we reduce Min Amplitude of Swing, we actually increase the number of vertices of a smaller ZigZag and, consequently, increase the total number of levels that can get into the calculated area and increase its strength.
  • If we increase Deviation from Areas, we actually increase the size of the area, and as a result, increase the total number of levels that can get into the calculated area and increase its strength.

Deviation from Areas parameter is directly related to the definition of harmonic patterns, since it is the error of matching XB, AC, BD, XD retracements to Fibonacci levels. It is not recommended to set this parameter to the value greater than 0.1 (10%).

If enabled, Use Fibo Extensions parameter increases the probability that any area will be stronger over time, since the new vertices of the small ZigZag appear. Therefore, it is not recommended to set the value of Amount of strong Areas to the value of more than 2 when the parameter is enabled.

2017.05.31 08:14 

easy to use slows down charts

2017.03.15 07:07 

С начала попробовал демо версию. Выяснилось что этот индикатор точнее многих схожих дорогих индикаторов от 80 у.е. Купил платную версию. Разработчику спс. Ждем обновлений.

2017.02.05 12:15 

Good indicators

Nik Ajni
2015.12.08 03:47 

Good indicator. My trading made easy to make entry & exit point. Very supportive author.

Keep it up! Mr. Evegeny Galikhin.

Version 8.0 - 2016.04.12
Version 8.0
* Optimized some functions
* Added new ZigZag (Fractal)
* Added a trend indicator
* Implemented some changes into the program settings
Version 7.0 - 2014.10.16
- Added the ability to work with Custom patterns.
- New algorithm of search patterns. Patterns can be identified by iterating the amplitude of the ZigZag.
- Increased number of notifications.

- Name of the input parameters in the indicator settings.
- Construction of the trend line.

- The possibility of constructing potential development of "butterfly" pattern.
Version 5.50 - 2014.09.19
- Displays ZigZags
- The possibility to display the harmonic 5-point patterns
- The possibility to display the extension of the harmonic 5-point patterns
- The possibility to build a trend line to the big swing ZigZag
- Advanced graphics settings

- The initialization procedure
- The deinitialization procedure
- Algorithms of objects' colors autoselection
Version 3.20 - 2014.08.27
- 3 types of calculation of potential reversal zones.
- The possibility to consider swings of small ZigZag when calculating the strength of an areas (as new peaks of small ZigZag appear).
- The possibility to display the levels of crossing Andrews' Pitchfork, drawn using 5 previous peaks of ZigZag.
Version 2.0 - 2014.07.11
- Changed initialization and deinitialization of the indicator.
- Added the possibility to setup the signals and notifications triggered when the price is in potential reverse area.