Fibonacci
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For MetaTrader4 For MetaTrader5
FREE FIBONACCI INDICATOR FOR METATRADER

Automatically draw fibonacci retracements and extensions

Are you still manually placing Fibonacci retracement and extension levels? This smart Fibonacci tool automatically detects swing highs and lows and draws accurate retracement or extension levels, eliminating the need for manual input or adjustments. Ideal for traders who rely on Fibonacci for identifying support, resistance, and trend continuation zones.

  • Automatically draws Fibonacci retracement or extension levels
  • Detects swing highs and lows based on user-defined amplitude
  • No manual anchor points or dragging required
  • Adjusts dynamically to chart zoom and resolution
  • Select between showing the latest fib, major fibs, or all fibs
  • Works with both retracement and extension logic
  • Full customization of level visibility, colors, and line styles
  • Manual editing allowed after auto-drawing
  • Supports intraday, daily, and long-term charting strategies
  FAQ

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Description

Smart Fibonacci is a technical indicator designed to simplify and automate the use of Fibonacci retracements and extensions. Rather than manually anchoring swing highs and lows, the indicator identifies valid points based on chart structure and user-defined sensitivity, then draws the appropriate Fibonacci levels automatically.

The indicator supports both retracement and extension modes, and dynamically decides which one is more suitable based on recent price action. It also offers three different behaviors: display only the most recent Fibonacci object, show all Fibonacci levels across the chart, or focus on significant swing levels.

Once the Fibonacci objects are drawn, users still have full manual control to adjust anchor points or customize appearance. Line styles, level values, and colors can be edited to match personal trading preferences. One of its key features is zoom adaptability: zooming out displays large-scale price swings, while zooming in reveals finer retracement opportunities based on shorter-term movements. This allows traders to use a single indicator for both macro and micro Fibonacci analysis.

Smart Fibonacci is ideal for traders who rely on confluence strategies, as it quickly highlights areas where Fibonacci levels overlap or align with other technical indicators. It reduces chart clutter, speeds up technical analysis, and provides consistent, repeatable trade signals based on reliable price structure.

Input Parameters

  • Amplitude - Amount of bars between alternative price points of the short term Fibo object
  • Behavior - The indicator can draw two Fibo objects, just the latest one, or just the complete chart one
  • Drawing Settings - The block is self-explanatory

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Frequently Asked Questions

Yes, once drawn, Fibonacci anchor points can be manually adjusted to fit your preferences or strategy.

Amplitude sets how many bars apart the alternative price points are. This defines how far apart swing points must be to qualify for a fib. It controls the scale of the short-term fib object.

You can choose to show two Fibonacci objects (long-term and short-term), just the latest object based on the most recent move, or one fib that covers the full chart structure.

Yes. All visual elements such as level percentages, colors, labels, and line styles are controlled through Drawing Settings.

Yes. The indicator adapts to any timeframe and works for all asset classes including forex, stocks, crypto, indices, and commodities.