FiboBands Indicator for MT5 - Bollinger Bands at Fibo Levels

FiboBands - interesting channel MT5 indicatorwhich represents "floating" Fibo levels, the principle of construction of which is identical to the indicator Bollinger Bands. In this case, instead of the standard deviation of the ATR, uses the Fibonacci extension of 1.618, 2.618 and 4.326, plotted both ways.

According to the experts at ForTrader.org, using the indicator for MT5 FiboBands is possible in strategies for breakout or breakaway from the channel, depending on the selected currency pair, as well as support and resistance levels as a secondary filter.

Download FiboBands Indicator for MT5 (\MQL5\Indicators\)
Library: SmoothAlgorithms.mqh (\MQL5\Include\)