AutoFibAutoTrend: ZigZag Price Channels and Fibonacci Levels
Summary
AutoFibAutoTrend is a chart indicator that draws a price channel and Fibonacci levels from recent ZigZag peaks. Its settings let the user choose the calculation timeframe and adjust the ZigZag depth, deviation, and backstep parameters. Display options control whether Fibonacci levels, fan lines, and a trend line are shown, along with their colors and line widths.
The document describes the indicator's configuration rather than a trading system. It does not provide a formula for the plotted channel or Fibonacci levels, examples of signal interpretation, or performance evidence. The indicator also depends on a separate compiled ZigZag component being installed in the platform's indicator folder, and its outputs will depend on the selected timeframe and ZigZag settings.
Key ideas
- The indicator derives price channels and Fibonacci levels from recent ZigZag peaks.
- Users can configure the timeframe and the ZigZag depth, deviation, and backstep.
- Fibonacci levels, fan lines, and a trend line can be toggled and styled separately.
- The document gives configuration details but no signal 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.