Auto Fibo Trade Zones Indicator
The Auto Fibo Trade Zones Indicator is a technical analysis tool used in trading to automatically identify Fibonacci retracement levels and zones on price charts. By applying Fibonacci principles, this indicator helps traders visualize potential support and resistance levels based on the key Fibonacci ratios (such as 23.6%, 38.2%, 50%, 61.8%, and 78.6%) for retracement and extension analysis. It can assist in making informed trading decisions by indicating possible areas where price may pull back or reverse, thereby enhancing the effectiveness of entries and exits in various financial markets.