THV Auto Fibo MT5

Hi Traders,

Unlock the power of advanced swing-based Fibonacci analysis with this custom MT5 indicator. Designed for precision and clarity, it automatically identifies the nearest Swing High (SH) and Swing Low (SL) on your selected timeframe and draws key Fibonacci retracement and extension levels directly on your chart.

Key Features:

• Automatic Swing Detection: Finds the most relevant Swing High and Swing Low based on your chosen pivot.

• Dynamic Fibonacci Levels: Draws standard retracement levels (0.236, 0.382, 0.5, 0.618, 0.786) and extensions (1.5, 1.618, 2, 2.5, 2.618, 3, 3.5, 3.618, 4, 4.5, 4.618).

• Adaptive Logic: Fibonacci levels auto-adjust based on whether price is closer to the Swing High or Swing Low, ensuring correct direction and clearer reversal zones.

• Multi-Timeframe Ready: Works on any timeframe, preserving accuracy whether you trade intraday or on higher timeframes.

• Customizable Appearance: Full control over line styles, widths, colors, labels.

• Extension Levels: Optional Fibonacci extension lines to identify potential breakout or target zones.

• Clear Labeling: Shows price and level for each Fibonacci line for quick reference.

This indicator is perfect for traders who want a visual edge, combining swing analysis with Fibonacci precision to identify high-probability support, resistance, and target levels effortlessly.

Ideal for: Day traders, swing traders, or anyone who uses Fibonacci levels to plan entries, exits, or risk management strategies.

Happy Trading !