This indicator is the logical continuation of the well-known equidistant channel indicator: https://www.mql5.com/en/market/product/8723 . The main purpose of the indicator is the visualization of price levels relative to the parallel channel using Fibo Bobokus levels in a separate window and the price history. This often allows forecasting the future price movement with a sufficiently high degree of probability. The Fibo levels calculation equation is as follows:
FiboLevel = (50-(100*((Close[i]-CL)/delta_HLC)))*-1;
Close[i] — current bar Close price level;
CL — channel lower level;
delta_HLC — difference between upper and lower channel levels.
Parameters
- The period of calculating the indicator in hours — indicator calculation period in hours;
- Signal Range % of the channel width — signal level in % of the channel width. The signal level is a dashed line drawn parallel to the main one with the specified proportions;
- color spectrum — set of colors for plotting channels;
- color RES_SUP — parallel channel color;
- color CHANNEL — main channel color;
- line thickness — channel line width;
- width1 — parallel channel line width;
- width2 — main channel line width;
- Fibo levels in the channel — enable/disable Fibo Bobokus levels;
- Shift to the left of the display of the fibo levels — shift to the left for displaying Fibo Bobokus levels;
- color_fibo — Fibo Bobokus levels color.
