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Re: Fibonacci, Trendlines, Support Resistance & Pivot Point Indicators MT4

mrtools, Sat Jan 25, 2025 12:23 pm

Fibonacci Pivot indicator (Kalenzo)

This was an old Fib pivots indicator by a coder named Kalenzo from the TSD days, anyway in the process of trying to make it into a mt5 version, so did this version which needs testing before I convert it, preliminarily it seems to be okay, but needs testing.

What are Fibonacci Pivots?

Fibonacci Pivot Points use Fibonacci ratios to identify more precise price zones.

What's the difference between Fibonacci Pivots and Standard Pivot Points?

Pivot Points are simple and commonly utilized, rendering them an excellent option for novices or traders seeking swift and dependable levels in range-bound markets. Nevertheless, they do not consider market psychology to the same extent as Fibonacci ratios.

Fibonacci Pivot Points prove to be especially useful in volatile or trending markets. By integrating Fibonacci levels into the Pivot Points, they offer more accurate confluence zones, which makes them particularly appealing to experienced traders.
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