Thread: Autoday Fib - VertexFX Indicator

utoDayFibs is a powerful VertexFX client side VTL indicator that provides the Fibonacci Levels based on the daily High and Low levels. This indicator calculates the Highest High and Lowest Low of the recent HIGH_DAYS_BACK and LOW_DAYS_BACK period respectively.

It then displays the 0.0%, 23.6%, 38.2%, 50.0%, 61.8%, 100.0%, 161.8% and 261.8% levels.

These levels are crucial support and resistance levels, as well as market turning points. When the price breaks out above (or below) the 100% level, the next target is most likely to be 161.8% level.

BUY - This indicator does not provide BUY signals.

SELL - This indicator does not provide SELL signals.

NOTE:

This indicator works only on H4 and lower time-frames.

This indicator does not provide BUY or SELL signals. It must be used with other indicators.