This forex indicator combines two widely used tools: the ZigZag indicator and Fibonacci levels.
It is an informational tool that automatically draws Fibonacci retracement grids between the local swing high and swing low points identified by ZigZag.
This approach helps traders identify potential reversal zones, end-of-correction levels, and strong support and resistance areas on any selected currency pair.
Notes: The ZigZag Fibo v2 beta version is supplementary — signals require independent confirmation.
Download ZigZag + Fibonacci Indicator
FAQ
How does the ZigZag + Fibonacci indicator work?
It uses ZigZag to detect recent swing highs and lows, then plots standard Fibonacci retracement levels (23.6%, 38.2%, 50%, 61.8%, 78.6%) between them.
Is this indicator repainting?
Yes — like most ZigZag-based tools, it may repaint as price evolves; always wait for candle close and confirm with other analysis.
Can I use it on any timeframe or pair?
Yes — it works on all MT4 timeframes and major, minor, and exotic forex pairs, though reliability improves on H1 and higher.
