This is a simple scanner which displays on the chart current Fibonacci value on chosen timeframe. Fibonacci is automatically calculated for current range of price from this timeframe, available TF for the scanner D1-Daily, W1-Weekly and MN-Monthly charts. There are predefined symbols on which scanner is working - it can display values for all major instruments (major forex, indices and metals), only some of them: EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD, USDCHF, EURJPY, XAUUSD, XTIUSD, DE30, US500 (default option) or CFD only. There is a possibility to set alerts (pop-up or mail) when price reaches chosen levels (%) from below or above (alerts are limited to one per chosen time interval i.e. one per day/week/month but resetting the indicator reset also limit for alerts). This indicator can be launched instantly on the MetaTrader 4 and MetaTrader 5 platforms. The MT5 version is available at Fxmerge.
You should use it first. Go evaluate it on EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD, USDCHF, EURJPY, XAUUSD, XTIUSD, DE30, US500 (default option) or CFD only. Then publish the results in this thread. There are quite a few scanners out there. Most of those are of inferior quality.
Of course, I tested it and it is used to help with trading, so every day automatically can you see the Fibo levels for all pairs. Later you can try to open manually positions according to these alerts, e.g. set the alert to 0% and 100%, if it drops to 0% and show the alert, you open positions with low SL...
Why would anyone want to know this? I would be interested to know. It can't be of any use for trading.
which one of these bozos that blabber about Fib actually trades? In real time? With actual executions? NONE
Because brokers wants the trader to trade more, as they can earn on more commissions. So giving them as much signals as possible to the trader is favorable for the broker.