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Just remove it and use a better or any Fibo indicator equivalent. You may replace it with a better indicator called Pivots.mq4 from MLaden over at Forex-TSD.
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The Auto Fibo Retracement indicator for MT4 automatically draws a retracement on your chart and can also highlight the retraced and un-retraced area on the chart.
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Search results for mladen indicator. An example of non repainting one is mladen’s code from Forex-TSD. Just remove it and use a better or any Fibo indicator