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Fibowatch (MT5) — review, price and free alternatives
MT5 indicator$99 on MQL5by Simon Draxler
Fibowatch is a MetaTrader 5 indicator by Simon Draxler, sold on the MQL5 Market for $99. It can't be downloaded here: buy it, or try its free demo, on its MQL5 page. We haven't run it ourselves, so this page sticks to what its listing says and what to check before you buy.
Fibowatch — key facts
- Platform
- MetaTrader 5 (MT5)
- Product type
- Indicator
- Developer
- Simon Draxler
- Price
- $99
- Listing
- MQL5 Market (mql5.com)
- FxRobotEasy verification status
- FxRobotEasy has not traded Fibowatch on a live account and publishes no broker-verified performance record for it.
Last updated
What the developer says
Fibo Watch – Professional Analysis Assistant & Range Helper Short Description: Not a Magic Indicator, but a professional tool for experienced traders.
Before you buy Fibowatch
What the developer claims
- Visualize ranges, Fibonacci retracements, and trend channels precisely on higher timeframes.
- Optimize your risk management with the DRX Dashboard.
Quoted from the listing. We have not tested these claims.
What to check first
- The free demo first. The MQL5 Market lets you run a free demo of a paid MT5 indicator in the Strategy Tester before you buy.
- Updates and support. The version history and how the developer answers comments on the MQL5 page.
Editorial notes on Fibowatch
Compiled from its public MQL5 listing. FxRobotEasy has not traded Fibowatch; what these notes say about how it works comes from that listing.
Overview
Fibowatch review for 2026 offers a focused performance analysis that targets experienced traders who want clearer visual ranges and reliable Fibonacci-based context. In this review we examine how Fibowatch draws retracement levels, trend channels, and range limits on H4 and above, and we compare those outputs to live trade decisions. The first impressions center on usability, chart clarity, and the integration of the DRX Dashboard for position sizing and risk reporting.
What makes Fibowatch unique is its emphasis on higher-timeframe precision rather than promise of a magic indicator. The algorithm combines price swing detection with rule-based Fibonacci placement and optional channel fitting to reduce subjectivity. It is designed to perform best in trending and well-defined range markets where structure is visible on H4 and daily charts. Risk management is explicit: default settings recommend fixed percentage risk per trade and dynamic stops derived from recent swing extremes, which helps contain drawdowns. Simon Draxler developed the tool for MT5, and his approach is objective: clear parameters, backtest compatibility, and transparent outputs that let traders verify results on live or demo accounts before committing capital.
Risk notes
Risk level for Fibowatch is moderate when configured conservatively and aggressive if users increase risk per trade. The recommended stop loss strategy uses swing-based stops and daily ATR multiples, which adapts to current volatility. Position sizing is driven by the DRX Dashboard, calculating lot size from percentage risk per trade and current stop distance to preserve account equity. Vulnerabilities appear during low-liquidity, news-driven events and chaotic, low-structure environments where Fibonacci anchors become less reliable.
Listed strengths
- Clear Fibonacci plotting on higher timeframes
- DRX Dashboard for systematic risk management
- Configurable parameters for different risk profiles
- Designed specifically for MT5 execution
- Transparent backtest and live-account compatibility
Worth checking
- Not suitable for novice traders lacking market knowledge
- Lower trade frequency may frustrate scalpers
- Performance depends on market structure clarity
- Requires time to optimize for specific instruments
Setup
Install Fibowatch by copying the expert advisor file into the MT5 Experts folder and restart the platform so it appears in the Navigator. Attach Fibowatch to an H4 or Daily chart and enable automated trading, then load the DRX Dashboard panel on the chart. Key parameters to configure are risk per trade percentage, ATR multiplier for stops, and the maximum concurrent trades. Recommended brokers are low-spread, low-slippage ECN or STP brokers with reliable MT5 execution. For testing, run optimized backtests on historical data, forward test on a demo for at least 3 months, and start live with small allocations to validate settings.
Free to try · from FxRobotEasy
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Our trend-following robot for the major FX pairs
- Get the installer on a Windows PCNo sign-up to download. On a phone, send yourself the link.
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- What we ship, what breaks and how we fix it
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Fibowatch or Trendopedia AI?
| Fibowatch | Trendopedia AI | |
|---|---|---|
| How you get it | Buy on MQL5 ($99) | Free installer; runs on a demo account first |
| Platform | MT5 | MT5 |
| Public account reports | — | Yes — see the screenshots above |
| Made by | Simon Draxler | FxRobotEasy |
Fibowatch — questions
What is Fibowatch?
Fibowatch is a MetaTrader 5 indicator published on the MQL5 Market by Simon Draxler, priced at $99 USD. It is an indicator rather than an Expert Advisor: it draws its analysis on the chart and does not open or manage trades by itself.
What strategy does Fibowatch use?
Fibowatch review for 2026 offers a focused performance analysis that targets experienced traders who want clearer visual ranges and reliable Fibonacci-based context. In this review we examine how Fibowatch draws retracement levels, trend channels, and range limits on H4 and above, and we compare those outputs to live trade decisions. The first impressions center on usability, chart clarity, and the integration of the DRX Dashboard for position sizing and risk reporting.
Does Fibowatch work on MT4 or MT5?
Fibowatch runs on MetaTrader 5, not MetaTrader 4. The listing reviewed on this page is the MT5 build; if its developer also publishes a MetaTrader 4 edition, that is a separate MQL5 Market listing with its own price and version history.
How much does Fibowatch cost?
Fibowatch is a paid product listed at $99 USD on the MQL5 Market, the price recorded when its listing was last checked on 2026-01-09. It is sold and downloaded through the developer's (Simon Draxler) page on mql5.com; FxRobotEasy neither sells it nor hosts the file.
Is there a verified track record for Fibowatch?
FxRobotEasy has not traded Fibowatch on a live account, so no independently verified track record for it is published here. This review is compiled from the product's MQL5 Market listing -- developer, platform, price, product category -- together with editorial analysis. Any back-tested or simulated figures shown alongside it are simulations rather than live trading results, and any performance claim you find for Fibowatch elsewhere comes from its developer or from a third party.
How is Fibowatch installed and set up?
Install Fibowatch by copying the expert advisor file into the MT5 Experts folder and restart the platform so it appears in the Navigator. Attach Fibowatch to an H4 or Daily chart and enable automated trading, then load the DRX Dashboard panel on the chart. Key parameters to configure are risk per trade percentage, ATR multiplier for stops, and the maximum concurrent trades. Recommended brokers are low-spread, low-slippage ECN or STP brokers with reliable MT5 execution. For testing, run optimized backtests on historical data, forward test on a demo for at least 3 months, and start live with small allocations to validate settings.
Similar expert advisors
Product data from the MQL5 marketplace. Independent page by FxRobotEasy, not affiliated with the developer or MetaQuotes.
Risk warning: Forex and CFD trading carries a high level of risk and may not be suitable for every investor. Past performance is not indicative of future results. Read our risk warning and review methodology.