FiboZZ Signal Indicator - Comprehensive Guide

"Master the Waves of the Market with FiboZZ – Your Ultimate Fibonacci Companion!"

🔹 Overview

The FiboZZ Signal is a powerful MetaTrader 4 (MT4) indicator that combines ZigZag patterns with Fibonacci retracement and extension levels to identify key market structures. It automatically detects swing highs and lows (X, A, B, C, D points) and plots multiple Fibonacci levels for precise trading opportunities.

This tool is ideal for traders who rely on harmonic patterns, price action, and Fibonacci-based strategies.

🔹 How It Works

The indicator scans price movements to identify significant peaks and troughs using the ZigZag algorithm. It then draws three sets of Fibonacci retracement/extension levels:

Fibo1 (Primary) – Based on the latest swing (CD leg).

Fibo2 (Secondary) – Based on the prior swing (BC leg).

Fibo3 (Tertiary, if applicable) – Based on the earlier swing (AB leg).

Each Fibonacci set includes 13 key levels (0%, 23.6%, 38.6%, 50%, 61.8%, 78.6%, 100%, 127.6%, 161.8%, 205.8%, 261.8%, 333%, 423.6%), providing deep market structure analysis.

🔹 Indicator Settings

Input Parameters:

ExtDepth (21) – Lookback period for ZigZag highs/lows.

ExtDeviation (13) – Minimum price deviation to form a ZigZag point.

ExtBackstep (34) – Number of bars to confirm a swing point.

FibColor1, FibColor2, FibColor3 – Customizable colors for each Fibonacci set.

Automatically Detected Levels:

X, A, B, C, D – Key swing points.

XA, AB, BC, CD – Leg distances (in pips).

Fibonacci retracement & extension levels for each leg.

🔹 Trading Applications

Trend Continuation: Look for pullbacks near 38.2%, 50%, or 61.8% Fib levels.

Reversals: Watch for reactions at 127.6%, 161.8% extensions.

Harmonic Patterns: Helps identify Bat, Gartley, Crab, and Butterfly patterns.

Support/Resistance: Fib levels act as dynamic S/R zones.

🔹 How to Use

Attach the indicator to your MT4 chart.

Adjust parameters if needed (defaults work well).

Monitor Fib levels for potential entries/exits.

Combine with other tools (RSI, MACD, candlestick patterns) for confirmation.

🔹 Developer & Source

Developer: R.KH

Year: 2025

Website: https://www.robomql.com

🎯 Final Words

The FiboZZ Signal is a must-have tool for Fibonacci traders, providing automated swing detection and multi-level Fib projections. Whether you're a scalper, swing trader, or position trader, this indicator enhances decision-making with precision and clarity.

Trade Smarter with FiboZZ – Where Math Meets the Markets! 🚀