Yes, 5 pleats is standard for a 48-54" width of fabric. A width of fabric would pleat to aprx 21", this 21" would have 6 spaces aprx 3.5", and the pleats will use 30" divided by 5 and have aprx 6" of fabric in each pleat. Are you planning for a center overlap? If you have only 6 widths of fabric your spaces will be larger, and less will be in your pleats.
I would probably use 3.5 widths for each panel for 2 1/2 times fullness, for a center draw.
I am also considering making drapes for my 3 sunroom windows which are also 133'!!
Keep us posted on your progress.
Hopes this helps, Michelle

Michelle,
Thanks so much for your expertise, I will definitely put 5 pleats in each panel.(I may do goblet pleats) I actually have 4 windows and the panels will be at each end and between. I'm putting them on rings on a round rod so I can push them around. . Maybe that will give you an idea for your sunroom. It makes it easier dealing with one width at a time thanks again, Lyn

Michelle is right on with her recommendations. I just finished my drapery panels and absolutely love them. I was wondering if you guys have any suggestions on where to get drapery hardware? The cheapest I have found online are at blindschalet.com. But I was curious if you girls had any suggestions.

Here is a link that might be useful: Drapery Hardware