Channel Based Fibo Levels

⚡ Identify Overbought & Oversold Levels Accurately – The indicator uses Fibonacci values to create multiple channel lines for precise trend and reversal detection.
📊 Fibonacci-Based Channels – Upper and lower channel lines are plotted at 23.5%, 38.2%, 50%, and 61.8% of a moving average to mathematically define price levels.
🔔 Signals for Trend Continuation & Reversals – Price cutting through channel lines indicates trend continuation, while price rejection at outer bands signals potential reversals.
⏱️ Multi-Timeframe Support – Works on M15–M30, H1–H4, D1–W1, and is effective on daily, weekly, and monthly charts.
🖥️ MT4 Compatible & Non-Repaint – Fully compatible with MetaTrader 4 and provides reliable, non-repainting signals.
👥 Suitable for All Traders – Ideal for beginners and advanced traders looking for an unbiased, mathematical approach to trading.
🎯 Visual Oversold & Overbought Indication – Channels provide clear visual cues for optimal entry and exit points.

Input Settings & Controls

BarsCount → Number of bars/candles considered for the indicator’s calculation or display.
MAPeriod → Number of periods used to calculate the moving average.
MAMethod → Type of moving average method applied (e.g., SMA, EMA, LWMA, SMMA).
MAPrice → Price type used for the moving average calculation (close, open, median, etc.).
fontsize → The size of the text/font displayed on the chart.

Devices Supported

Device Type	Operating System	Compatibility with TradingView
💻 Windows Laptop/Desktop	Windows XP / Vista / 7 / 8 / 8.1 / 10 / 11	✅ Fully supported via app
🍏 MacBook / iMac	macOS 10.15+	✅ Fully supported via app
📱 Android / Mobile	Android OS	❌ Not supported

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