An Automatic Fibonacci Indicator for Finding Swing Highs and Lows

Summary

The short post introduces a custom indicator intended to draw Fibonacci levels automatically. Its stated purpose is to identify a higher high and a lower low between a chosen start bar and the current bar, reducing the need to locate swing points or read Fibonacci values manually in MetaTrader.

The author says the indicator was developed after a client requested an Expert Advisor using Fibonacci lines. The page offers no formula for selecting the bars, rules for interpreting the levels, examples, or performance evidence. It is therefore a brief description of a charting aid rather than a defined trading strategy, and it does not establish that Fibonacci levels predict price movement.

Key ideas

• The indicator is intended to find a higher high and lower low between a start bar and the current bar.
• It aims to automate plotting or reading Fibonacci levels in MetaTrader.
• The post gives no selection formula, trading rules, or performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.