Fibonacci Swing Scalp Two

Fibonacci Swing Scalp Two

This indicator is another variant of the famous powerful indicator Fibonacci-SS https://www.mql5.com/en/market/product/10136 but has different behaviour in placing Pending Order and TP Line.

Automatically places Fibonacci retracement lines from the last highest and lowest visible bars on the chart with:

1. An auto Pending Order (Buy/Sell).
2. Taking Profit 1, Taking Profit 2 is pivot point and Taking Profit 3 for extended reward opportunity.
3. The best risk and reward ratio.

Simple and powerful indicator

This indicator's ratios are math proportions established in many destinations and structures in nature, along with many human produced creations.

Finding out this particular ahead of the marketplace and getting the best alternative indicators will provide you a large advantage over the majority of Forex traders.

The product is suitable for swing or scalp trading with any timeframe.

Parameters

• Depth - shift = counted bars - depth (default 12).
• Deviation - the higher/lower price deviation (default 5).
• Backstep - show entry points in history on the chart for visual analysis.
• Alert - enable/disable push alerts when price touches the Fibo area.