FiboPlus is a piece of software that can be found within the Indicators section of the MQL5 marketplace, there may be other indicators with similar names, so we have provided a link below so you know exactly which one we are talking about. The FiboPlus was created by Sergey Malysh on the 12th of September 2016, it has since been updated a number of times, the most recent update was on the 29th of December 2017 and the indicator is now on version 3.0.
FiboPlus is an indicator that has been designed for the MetaTrader 4 trading platform, it is a stated as a ready-made trading platform, based on the automatic construction of Fibonacci levels for both buying and selling, it can be used on any instrument and on any timeframe.
Some of the FiboPlus features:
- Detection of trend direction (14 indicators)
- Construction of horizontal levels, support and resistance lines, channels
- Selection of a variant for calculating Fibonacci levels (six different methods)
- Alert system (on-screen, E-Mail, Push notifications)
There is a wide range of parameters that can be changed, these will slightly alter the way that the indicator works, these include things like the language, the Fibonacci level options, alert settings, turning alerts on or off, emails, colors and more.
The indicator can be purchased outright for $80, this will give you unlimited access and use. You are also able to rent the indicator, there are a number of different options for renting it, you can rent it on a monthly basis which will cost you $20 per month, for three months it will cost you $40, for 6 months it will cost $50 and to rent it for 1 year it will cost you $70. There is also a free version available, this will have some limitations but we are not sure what they are.
There are six different reviews available for the FiboPlus indicator, each and every one of them is giving it a 5 out of 5 ratings.
“Inexpensive little helper 🙂 It helps me see the overall trend across multiple TF. Also, I use the S/R feature quite a bit.”
“Best indicator I’ve ever used so far! Made a lot of profit with it. Very valuable. I was looking all over the net for a Fibonacci indicator or EA and this is the best one I found.“
“I love using Fibonacci and finally I came across an indicator that does an excellent job with Fibonacci analysis. Looks good and works great!! Well done to the programmer.”
So there is a lot of positivity around the indicator and it seems to be working as intended. We would recommend that you download the free version, this will give you the opportunity to test it out and to make sure that it both suits your requirements and that you are able to get it set up correctly without any issues.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/18097