Fibo Scalp MT4

Fibo Scalp - Complete Multi-Timeframe MT4 Indicator Guide

Welcome to Fibo Scalp, a powerful multi-timeframe analytical tool designed natively for the MetaTrader 4 terminal. This indicator automates the tedious process of finding high-probability trend reversals and continuations by mapping out fractal-based swings and pulling Fibonacci retracements—all without you having to draw a single line.

Fibo Scalp runs completely in the background across multiple timeframes simultaneously, pushing alerts to your terminal or mobile device only when your precise Fibonacci criteria are met.

How to Trade With Fibo Scalp

Fibo Scalp is a flexible engine. Depending on your style, here are the two main ways to trade the signals:

1. Direct Signal Scalping

This approach is built for fast execution.

• The Setup: Run the indicator on a short-term chart (like M5 or M15).
• The Execution: The indicator works by establishing a directional bias based on a fractal break, then waits for a retracement. When you see a signal arrow, it means the price tapped your required Entry level and is moving back in the direction of the trend.
• Trade Management: Execute the trade, placing your stop loss on the other side of your defined Invalidation level (e.g., the 61.8% Fib). Your targets are the previous swing highs/lows.

2. Dual-Timeframe Confirmation (The High-Probability Method)

This method is used by professionals to filter out choppy markets by ensuring their entries align with larger market flows.

• The Setup: Configure your indicator to monitor a higher timeframe (e.g., H1 or M15) in the background while you keep your active chart on a lower timeframe (e.g., M5 or M3).
• The Execution: Wait for a Fibo Scalp alert to trigger on your Higher Timeframe. This tells you a larger trend pullback has finished and momentum is stepping back in.
• The Entry: Once that higher timeframe bias is confirmed, wait for a signal on your Lower Timeframe in the same direction. This allows you to catch the start of a major swing while using the tight stop loss of a lower timeframe setup.

The Interactive Dashboard

Instead of cluttering your chart with text blocks, Fibo Scalp features a sleek, interactive on-chart dashboard.

• Toggle Visibility: Simply press the 'A' key on your keyboard to show or hide the panel.
• Smart Filtering: The dashboard lists your current chart timeframe (the "Host") along with your 3 configured background timeframes. You can click the Bullish or Bearish buttons for any timeframe to "Arm" or "Disarm" alerts for that specific direction. This is perfect for muting counter-trend signals when you know the higher timeframes are showing strong momentum.

Input Parameters Breakdown

Here is a complete breakdown of every setting in your indicator properties window to help you fine-tune the engine to your trading style.

Timeframes (Settings)

• InpTF1 / InpTF2 / InpTF3: Select up to three background timeframes to monitor alongside your current chart. The indicator runs the pattern logic on all of these simultaneously.
• InpBgWarmupBars: Determines how much historical data (in bars) the indicator will process for the background timeframes when first attached. Keep this around 300 to ensure accurate fractal detection without overloading your terminal.
• InpIncrementalBars: The number of bars fetched per tick update. 50-200 is optimal for smooth MT4 performance.

Pattern Engine

• InpMaxPatternsPerDirection: The maximum number of concurrent setups the indicator will track per timeframe. Default is 20, which is plenty for active scalping.
• InpMaxPatternAgeBars: How long (in bars) a setup remains valid before it "expires". If the price chops around for too long without triggering an entry or invalidation, the setup is scrapped.

Fractal Settings

• InpFractalBars: The "n" value for fractals. A setting of 3 means the indicator looks for a high/low surrounded by 3 lower highs/higher lows on each side. Higher numbers identify major swing points; lower numbers catch minor pullbacks.

Fibo Size Filter

• InpMinRangeATRMult: Filters out tiny, insignificant swings in choppy markets. A value of 1.5 means the swing must be at least 1.5 times the current ATR to be considered valid. Set to 0.0 to disable.
• InpATRPeriod: The period used for calculating the Average True Range if the size filter is active.

Fibonacci Logic

• InpFibEntryLevel: The Fibonacci retracement level where the setup is "armed" (e.g., 236 for 23.6%).
• InpFibInvalidLevel: The level where the pattern is canceled and deemed invalid (e.g., 618 for 61.8%).

Fibonacci Drawing

• InpDrawFib: Set to true to have the indicator automatically draw the Fibo objects on your chart when a valid setup triggers. (Note: Fibs only draw on the timeframe currently open on your chart).
• InpShowFibs: Toggles the visibility of the drawn Fibonacci objects.
• InpFibColor: The color of the main trendline connecting the swing points.
• InpFibRayRight: Extends the Fibonacci levels infinitely to the right.
• InpFibExtendBars: (MT4 Exclusive) If Ray Right is false, this extends the Fibo lines by a specific number of bars into the future for better visual context.
• InpFibBack: Draws the Fibonacci objects behind the candlesticks so they don't obstruct price action.
• InpFibLevelColor / Style / Width: Customization for the horizontal Fibonacci retracement lines.

Signal Arrows

• InpBullColor / InpBearColor: Customize the colors of your Buy (Bullish) and Sell (Bearish) signal arrows.
• InpBullArrowCode / InpBearArrowCode: The Wingdings font code used for the arrows (233 and 234 are standard MetaTrader arrows).
• InpArrowWidth: The thickness of the signal arrows.
• InpArrowOffsetPoints: How far away (in points) from the candlestick the arrow will be painted.

Alerts

• InpAlertPopup: Enable standard terminal popup alerts.
• InpAlertSound: Play a sound when a signal fires.
• InpAlertSoundFile: The name of the .wav file to play (must be located in your terminal's Sounds folder).
• InpAlertPush: Send push notifications directly to your MetaTrader mobile app.
• InpAlertOnHistory: If true, the indicator will fire alerts for setups it finds in historical data when you first attach it. (Usually best kept false to avoid alert spam on load).
• InpAutoArmDefault: If true, all timeframes and directions in your dashboard will be toggled "ON" by default when you load the indicator.

Dashboard

• InpShowDashboardOnStart: If true, the interactive panel will be visible the moment you drop the indicator on your chart. Otherwise, it stays hidden until you press 'A'.
• InpClearTogglesOnExit: If true, your dashboard armed/disarmed states (Global Variables) will be wiped when you remove the indicator, giving you a clean slate next time.