The index is designed for trading on the breakout of flat channels, looking for breakouts of extremes, rebounds, tracking the nighttime flat and determining targets by Fibonacci amounts, which can be configured as you wish, with or without sound signs.

The index allows you to build a horizontal station between the extremes you want as easily and quickly as you can in visual mode. in the exact same time, it will automatically place the selected Fibonacci levels on these extremes (if that option is permitted in the settings). in addition, when one of the Fibonacci levels that are enabled in the settings is broken, the indicator will sound an alert and display a message or send a push notification to your mobile terminal (if this option is enabled in the settings). It is possible to monitor the market using the Fibonacci levels for semi-automatic search for a rebound, as well as to expand the line of levels.

Also added the ability to automatically build the levels of the night flat at the time specified in the settings, for example, from 23: 00 to 9: 00. At the same time, each day the levels will be transferred to a new day automatically.

[spoiler title=”Read More…”]

Version for MetaTrader 5: https://www.mql5.com/ru/market/product/18855.

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 the prices. You can expand and decrease theChannel Length areadirectly on the chart. It is also possible to draw horizontal levels and Fibonacci consecutively on the timeframes you need, without erasing the levels of the previous timeframes.

Attention!

• To move a channel to the left or right without changing its size, drag the center part 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 pull 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 the 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 will use sending Push notifications, we do not recommend setting the Limit Alerts large or not limiting it, for the reason that – with a large number of Push notifications sent from one address, sending subsequent notifications may be disabled by the MetaTrader service.
• You can’t use “Automatic plotting by time interval” and “Fixing the right point in the future” at the same time !

• 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 shift forward in time with each new candle.
• Auto build Fibo by time range – Auto build Fibo by time range to track the night flat. The Time range must be specified correctly.
• Time range – The time interval.
• Color Channel – color of the horizontal channel;
• Color Fibo lines – the color of the Fibonacci lines;
• Channel Width – the thickness of the horizontal channel line;
• Channel Length, bars – the length of the created channel, by default – in bars;
• Alerts – 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;
• Draw Fibonacci-apply the Fibonacci levels to the channel automatically or not;
• Price Mode – High/Low or Open/Close channel construction mode;
• Delete channels from other TF – delete or not the channels and Fibonacci levels of the previous timeframe when switching to another timeframe.
• Custom Fibo Lines (-1 = disable) – below are the settings for 10 levels, to avoid using a level, set it = -1.
• Level 0….. Level 9 – numeric values of the levels as a percentage, for example 0 or 176.
• Alert level 0….. Alert level 9-enables / disables audio signals when these levels are crossed.
• Level 0 name….. Level 9 name-Assign a name to each 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 a new channel will be built on the new timeframe.

[/spoiler]