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FibSR Support and Resistance Zones as Colored Rectangles

Article MQL5 code base
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Summary

FibSR is a chart indicator that marks potential support and resistance areas with colored rectangles. The document identifies Eli Hayun as its author and says the indicator was first implemented in MQL4 and published in 2008. It offers no explanation of how the zones are calculated, how Fibonacci levels are used, or how a trader might turn the displayed areas into entry, exit, or risk rules.

The material therefore provides only a basic description of the indicator’s output and provenance. It presents no chart examples, backtest, performance evidence, or comparison with other support and resistance methods. Traders would need to consult the indicator itself or additional documentation to assess its construction and behavior. The text is too brief to establish whether the zones are predictive, how they respond to changing prices, or which markets and time frames they suit.

Key ideas

  • FibSR displays possible support and resistance areas as colored rectangles.
  • The document attributes the indicator to Eli Hayun.
  • It states that the indicator was first implemented in MQL4 and published in 2008.
  • The document does not explain the calculation method or provide 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.