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the indicator is designed for trading on the breakdown of horizontal channels, searching for breakouts of extremes, bounces and determining goals based on Fibonacci amounts, which can be configured as you wish, with or without sound signals.

The indicator allows you to create a horizontal station between the extremes you need as easily and quickly as possible in visual mode. at the same time, it will automatically put (if this option is enabled in the preferences) the selected Fibonacci amounts on these extremes. in addition, when among the Fibonacci levels is broken, which are enabled in the configurations, the indicator will sound an alert and display a message on the screen or send a push notification to your mobile terminal (if this option is enabled in the settings). It is possible to monitor the market with the help of Fibonacci levels for semi-automatic search for a rebound, as well as expand the line of levels.

Version for MetaTrader 4: https://www.mql5.com/ru/market/product/25834.

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The Horizontal Channel Alert with Custom Fibo indicator can build channels at both High/Low prices and Open/Close prices. The channel is automatically magnetized to prices. You can expand and decrease the channel’s coverage area (Channel Length) directly on the chart. It is also possible to draw horizontal levels and Fibonacci consecutively on the timeframes you need, without erasing the levels of previous timeframes.

Attention!

  • To move a channel to the left or right without resizing it, pull the center of the top or bottom of the channel line.
  • To extend or shorten the channel, pull the left or right edge of the top or bottom of the channel line to the desired location and release the line.
  • When using the indicator, if you have pulled on any edge of the channel and the line is visually crooked, just click on the chart anywhere with the left mouse button and the channel and Fibonacci levels will align.
  • If you need to expand the line of Fibonacci levels, enable the Reverse Fibo option.
  • If you want to catch the rebounds of currency pairs automatically, enable both options-Reverse Fibo and Fix the right point in the future.
  • If you use sending Push notifications, we do not recommend setting Limit Alerts to be large or not to limit it, because-if there are a large number of Push notifications sent from one address, sending subsequent notifications may be disabled by the MetaTrader service.

Attention!

  • To move a channel to the left or right without resizing it, pull the center of the top or bottom of the channel line.
  • To extend or shorten the channel, pull the left or right edge of the top or bottom of the channel line to the desired location and release the line.
  • When using the indicator, if you have pulled on any edge of the channel and the line is visually crooked, just click on the chart anywhere with the left mouse button and the channel and Fibonacci levels will align.
  • If you need to expand the line of Fibonacci levels, enable the Reverse Fibo option.
  • If you want to catch the rebounds of currency pairs automatically, enable both options-Reverse Fibo and Fix the right point in the future.
  • If you use sending Push notifications, we do not recommend setting Limit Alerts to be large or not to limit it, because-if there are a large number of Push notifications sent from one address, sending subsequent notifications may be disabled by the MetaTrader service.

  • Reverse Fibo-expand the line of Fibonacci levels.
  • Fix the right point in the future – Fix the right point of the levels in the future. The right point will move forward in time with each new candle.
  • Color Channel – color of the horizontal channel;
  • Color Fibo lines – the color of the Fibonacci lines;
  • Channel Width – the line thickness of the horizontal channel;
  • Channel Length, bars – the length of the created channel, by default – in bars;
  • Alerts ‚Äď enable / disable all sound alerts;
  • Send Notifications-enable / disable sending Push notifications to your mobile terminal. It must first be configured in the terminal settings MetaQuotes ID (if you do not know how);
  • Limit Alerts-limit the number of signals per candle. After reaching the limit, the signals stop. To remove limits, set = 0;
  • Channel ray-build a channel as rays or not;
  • Price Mode – High/Low or Open/Close channel construction mode;
  • Delete channels from other TF-delete or not channels and Fibonacci levels of the previous timeframe when switching to another timeframe.
  • Custom Fibo Lines (-1 = disable) – below are the settings of 10 levels, to not use the level, set it = -1.
  • Level 0….. Level 19-numeric values of levels as a percentage, for example 0 or 176.
  • Alert level 0….. Alert level 19-enables / disables audio signals when these levels are crossed.
  • Level 0…. 19 name – name of the level

If you select Delete channels from other TF=false, when switching timeframes, the old channels will not be erased, and the new channel will be added to the selected timeframe. If you select Delete channels from other TF=true (default), when switching between timeframes, the old channels will be deleted and only the new channel will be built on the new timeframe.

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Published

14 November 2017

Updated

08 January 2019

Current Version

1.7

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89280284409 January 12, 2021 7:34 pm
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Great instrument! Thanks!