Fibonacci Coloured Levels Indicator

Fibonacci Coloured Levels Indicator

Overview:

The Fibonacci Coloured Levels Indicator is a custom Meta Trader 4 indicator developed by OLX Forex. It combines Zigzag analysis with Fibonacci retracement levels to identify key price levels and visually represent them on the chart. Traders can use these coloured levels for technical analysis and decision-making.

Zigzag Settings

Depth: Parameter controlling the depth of the Zigzag analysis.

Deviation: Parameter controlling the deviation for Zigzag swings.

Backstep: Parameter controlling the backstep for Zigzag swings.

Fibonacci Retracement Levels

Levels: User-defined Fibonacci retracement levels, e.g., "0.0, 23.6, 38.2, 50, 61.8, 76.4, 100."

Colour Customization

Colours for each Fibonacci retracement level for easy identification.

Information Panel

Show Panel: Option to display an information panel on the chart.

Information Panel (Optional):

 If enabled, refer to the information panel for real-time account details, including balance, equity, profit, free margin, and open trade percentage.