The Fibos Forex indicator is a technical tool for MetaTrader 5 that automatically plots Fibonacci levels on the price chart of a currency pair.
Traders set the number of bars in the indicator’s settings. Fibos then identifies the Low and High points within that range and draws the Fibonacci levels.
Fibonacci levels are among the most widely used tools in Forex trading. The Fibos indicator can help identify support and resistance levels and assist in placing stop-loss and take-profit orders.
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FAQ
How does the Fibos indicator determine High and Low points?
It scans the specified number of recent bars and identifies the highest high and lowest low within that range to anchor the Fibonacci levels.
Can I adjust the Fibonacci levels drawn (e.g., add 78.6% or remove 50%)?
No — Fibos uses standard Fibonacci ratios (23.6%, 38.2%, 50%, 61.8%, 100%, 161.8%, etc.) and does not support custom level editing.
Does Fibos work on all timeframes and instruments in MT5?
Yes — it’s compatible with any timeframe and any symbol (Forex pairs, indices, commodities) supported by MetaTrader 5.
