RSI with Fibonacci Auto Channel for MT5

 

The Rsi Oma with auto Fibonacci levels Indicator For MT5 helps to find the overbought and oversold state of the trading asset in different formations. Since the tool relies on the Fibonacci retracement ratio, you can also use it as a trend trading tool. When the bulls are dominating the market the price is most likely to head higher and the bold color curve in the indicator will turn green. When the bears dominate the market, the curve will turn brown and it will trade near the bottom part of the indicator window. And the dashed line should be considered as the volatility indicator. Bigger cloud means higher volatility and smaller cloud means a low level of volatility.