Skip to content
All library documents

Drawing Trend Channels, Fibonacci Levels, and Gann Fans from ZigZag Peaks

Article MQL5 code base
Read the original

Summary

AutoGannAutoTrend is a MetaTrader indicator that uses recent ZigZag peaks to plot a price channel, Fibonacci levels, and a Gann fan. Its configurable options select the ZigZag calculation timeframe and parameters, and allow each of the three overlays to be shown or hidden and styled by color and line size.

The document describes the indicator’s inputs and notes that it depends on a separate compiled ZigZag component. It does not explain the formulas for the channel, Fibonacci levels, or fan, nor does it provide trading rules, performance results, or evidence that the plotted levels predict price behavior. The overlays therefore serve as charting aids whose usefulness depends on how a trader interprets them; the note does not establish an independently tested strategy.

Key ideas

  • The indicator derives its plotted levels and channel from the latest ZigZag peaks.
  • It can display a price channel, Fibonacci levels, and a Gann fan.
  • Users can set the ZigZag timeframe and calculation parameters.
  • The indicator requires a separate compiled ZigZag component.
  • The description gives no trading rules or performance evidence.

Tags

Technical indicators

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