Key Features

  • Automatic Wave Detection: Identifies significant price swings and draws Fibonacci levels automatically
  • 23 Fibonacci Levels: Including retracement (0%, 23.6%, 38.2%, 50%, 61.8%, 76.4%, 88.6%, 100%), extension (127.2%, 138.2%, 161.8%, 200%, 261.8%), and negative levels
  • Multiple Retracements: Display up to 4 different Fibonacci retracements simultaneously with custom colors
  • Pattern Recognition: Detects 4 market patterns (uptrend/downtrend continuation, recent upswing/downswing)
  • Body-to-Body Mode: Special mode for JPY pairs for precise candle body measurements
  • Customizable Display: Adjustable colors, labels, fonts, and line styles

Main Parameters

  • SF_ScanBars : Bars to scan for wave analysis (default: 200)
  • SF_RetracementCount : Number of retracements to display (1-4)
  • WaveDetectionDepth : Wave detection sensitivity (default: 5)
  • WaveDeviationPips : Minimum price movement (default: 3)
  • SF_ShowLabels : Display level labels with prices

Usage

The indicator automatically analyzes price action, detects wave patterns, and draws Fibonacci levels. Works on all timeframes and symbols. Best results on H1 and higher timeframes.

Compatibility

MT5 Platform | All pairs | All timeframes