Happy Devil

Happy Devil

Overview

Happy Devil is an Auto-Fibonacci Retracement Indicator designed to eliminate the subjectivity of manual drawing. It identifies market swings automatically

Key Functions

1. Visual Legend

• Blue Lines (0.0% & 100.0%): Represent the boundaries of the current price swing.
• Red Line (61.8%): Highlights the "Golden Ratio," a critical level for trend reversals or retracements.
• White Lines: Represent the secondary retracement levels (23.6%, 38.2%, 50.0%, 78.6%).
• Auto-Extend Right: All lines automatically stretch to the far right of the chart so you can see where the price interacts with the levels in real-time.
• Fibo % Labels: Percentage values are displayed at the end of each line for quick identification.

2. Operational Tips

• Switching Timeframes: The indicator automatically adjusts its range when you switch from (i.e. M15 to H4).
• Switching lookback bars: It will always look at the last X bars of the current timeframe.
• Reducing Noise: If the chart has many long wicks due to news events, switch Calculation Base tto Open/Close for a much cleaner Fibonacci structure.
• Freeze and Analysis: Freeze the phase where you want to "pause" the chart to plan a limit order entry.
• Trend Following: Use Keep Start Point Fixed (i.e. False) during a strong trend. It allows to expand as the trend continues, no jumping to a new small swing.

Support

If you have questions or want to share suggestions, please leave your comment or contact through the MQL5 messaging system.