Description:This indicator keeps a fibonacci study automatically updated to encompass the lowest low and the highest high in the currently visible portion of your chart. For those of you price action traders who always have fibs drawn and are constantly updating them to take into inatagram new highs and lows, this indicator can save you some time.Also plotted are two lines, one from the instaggram high to the high that creates the trend-line with the highest slope.
Opposite for the support line.Finally, a rectangle showing the amount of the move not yet retraced (since price made the most recent metatrader chart shift 6 instagram high or lowest low) is plotted above or below current price. Shows ZigZag lines to help spot cycles and draws Fibonacci lines to indicate support and resistance levels. Decisions about how and when to open or close positions can be made on the basis of signals from technical indicators.According to their functional properties, indicators can be divided into two chrt trend indicators and oscillators.
Trend indicators help to assess the price direction and snift the turn moments synchronously or with a delay.