FZ Indicator for cTrader

Description

The FZ indicator draws Fibonacci channel zones based on the highest and lowest prices over a user-defined period. It helps identify trend zones and potential reversal areas.

Features

• Calculates channel borders and Fibonacci levels (0.236, 0.382, 0.618, 0.786)
• Visualizes uptrend, ranging, and downtrend zones
• Overlay on price chart

Parameters

• calculate for last ## bars: Number of bars to use for calculation (default: 21)

How to Use

1. Download and add the FZ indicator file (FZ.cs) to your cTrader platform.
2. Compile the indicator in cTrader Automate.
3. Attach the indicator to any chart.
4. Adjust the parameter for the number of bars as needed.
5. Interpret the colored zones:
6. • Cyan: Uptrend zone (go long)
   • Gray: Ranging zone (wait for trend change)
   • Orange: Downtrend zone (go short)