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Horizontal Channel Alert with Fibo

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The indicator is designed for trading on the breakdown of horizontal channels, searching for breakouts of extremes and determining targets by Fibonacci levels.

The indicator allows you to build a horizontal channel between the extremes you need as simply and quickly as possible in visual mode. At the same time, it will automatically put Fibonacci levels on these extremes (if this option is enabled in the settings). In addition, when one of the extremes and/or the Fibonacci level breaks – 50%, 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). If you are interested in an indicator with manually configurable levels and alerts, look at the Horizontal Channel Alert with Custom Fibo indicator.

The Horizontal Channel Alert with 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 sequentially on the timeframes you need, without erasing the levels of previous timeframes.

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Attention!

  • To move the channel to the left or right without changing its size, pull the center part of the upper or lower part of the channel line.
  • To lengthen or shorten the channel, pull the left or right edge of the upper or lower part 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.

Attention!

  • To move the channel to the left or right without changing its size, pull the center part of the upper or lower part of the channel line.
  • To lengthen or shorten the channel, pull the left or right edge of the upper or lower part 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.

  • 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 MetaQuotes ID terminal settings (if you don’t know how);
  • Alert Crossing High level – enable notification of breaking through the upper extremum;
  • Alert Crossing Low level – enable notification of breaking through the lower extremum;
  • Alert Fibo 50% – enable notification of crossing/reaching the Fibonacci level – 50%;
  • Limit Alerts – limit the number of signals. After reaching the limit, the signals stop;
  • Channel ray – build a channel as rays or not;
  • Draw Fibonacci – apply 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 channels and Fibonacci levels of the previous timeframe when switching to another timeframe.

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

The indicator is under active development, so write if you need to add alerts to other Fibonacci levels.

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