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Fibonacci Swing Scalp

Fibonacci Swing Scalp (Fibonacci-SS)

This indicator automatically places Fibonacci retracement lines from the last highest and lowest visible bars on the chart with an auto Pending Order (Buy/Sell), Stop Loss, Taking Profit 1, Taking Profit 2 and the best risk and reward ratio.

This is a very simple and powerful indicator.

This indicator's ratios are math proportions established in many destinations and structures in nature, along with many human produced creations. Finding out this particular ahead of the marketplace and getting the best alternative indicators will provide you a large advantage over the majority of Forex traders.

The product is suitable for swing or scalp trading with any timeframe. You can combine it with momentum or oscillator indicators, such as CCI, RSI, or Stochastic for the best results.


Parameters

  • Depth - shift = counted bars - depth (default 12).
  • Deviation - the higher/lower price deviation (default 5).
  • Backstep - show entry points in history on the chart for visual analysis.
  • Alert - enable/disable push alerts when price touches the Fibo area.
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