Fibonacci Levels (SQ Library)

SQ Indicator Library module · Fibonacci Levels · Part of a modular scanner/dashboard framework · MT4

About Fibonacci Levels (SQ Indicator Library)

This page covers the Fibonacci Levels module from the SQ Indicator Library — a modular MT4 indicator/scanner collection where each individual technical indicator is implemented as its own discrete file (following the naming pattern "sq" + indicator name), designed to plug into a larger multi-indicator dashboard. This modular library style is documented in comparable form by the ASQ Indicator Manager (mql.robotfx.org), which provides a dashboard showing indicator values organised by category (Moving Averages, Oscillators, ADX/ATR-type volatility tools), along with trend direction and trending/ranging market-regime detection.

What Fibonacci Levels measures: plots retracement/extension levels (23.6%, 38.2%, 50%, 61.8%, etc.) based on a detected price swing, used to identify potential support/resistance zones.

Platform: MetaTrader 4
Library type: Modular scanner/dashboard component (SQ-prefixed indicator series)
Indicator: Fibonacci Levels
Comparable framework: ASQ Indicator Manager (mql.robotfx.org)

Key Features

✓ Modular design — can be combined with other SQ-series indicators into a single multi-indicator dashboard

✓ Based on an established, well-documented technical analysis concept (Fibonacci Levels)

⚠ As a component of a larger indicator/scanner library, its full context and default parameters are best understood alongside the other SQ modules it's designed to work with

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