RSI with Fibonacci Auto Channel Indicator MT5
Platform: MT5 Type: Channel Last update: June 28, 2025The RSI with Fibonacci Auto Channel Indicator for MT5 combines multiple technical elements, including trend direction, oscillators, and channel bands, into a single comprehensive indicator.
It provides a holistic view of the market, also providing potential entry and exit points for traders.
Example chart:
How to use the rsi with fibonacci auto channel indicator for mt5?
A key feature of this RSI-based indicator is its bold signal line, which changes color – green for bullish trends and pink for bearish ones. This line moves within a channel defined by Fibonacci-based bands. When it remains near one of the bands for a prolonged period, it often signals a potential market reversal.
Take a look at this EUR/JPY M30 chart.
In the beginning, there was an clean uptrend. Then, the signal line turned from green to pink as the price made another higher high and the channel tightened considerably. Shortly after, sentiment shifted, and the price began to follow the bearish signal, leading to a significant decline.
Indicator settings
The default value for the fibonacci period is 25, and you can adjust it to create either a wider or tighter channel, by increasing or decreasing this value respectively in settings tab. What’s more, you can choose among seven types of relative strength index.
There are also other options like rsi period, type and smoothing period.
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