Smart Fibonacci
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Smart Fibonacci
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Automatic Wave Detection
: Identifies significant price swings and draws Fibonacci levels automatically
23 Fibonacci Levels
: Including retracement (0%, 23.6%, 38.2%, 50%, 61.8%, 76.4%, 88.6%, 100%), extension (127.2%, 138.2%, 161.8%, 200%, 261.8%), and negative levels
Multiple Retracements
: Display up to 4 different Fibonacci retracements simultaneously with custom colors
Pattern Recognition
: Detects 4 market patterns (uptrend/downtrend continuation, recent upswing/downswing)
Body-to-Body Mode
: Special mode for JPY pairs for precise candle body measurements
Customizable Display
: Adjustable colors, labels, fonts, and line styles Main Parameters
SF_ScanBars : Bars to scan for wave analysis (default: 200)
SF_RetracementCount : Number of retracements to display (1-4)
WaveDetectionDepth : Wave detection sensitivity (default: 5)
WaveDeviationPips : Minimum price movement (default: 3)
SF_ShowLabels : Display level labels with prices Usage
The indicator automatically analyzes price action, detects wave patterns, and draws Fibonacci levels. Works on all timeframes and symbols. Best results on H1 and higher timeframes.
Compatibility
MT5 Platform | All pairs | All timeframes
