OPEN-SOURCE SCRIPT
Automatic Fibonacci Pivot Point S/R Levels
Updated
This is a great tool to find confluences between Fibonacci Pivot point on various time frames.
Fib Pivots used
23.6%
38.2%
50%
61.8%
76.4%
100%
127.2%
141.4%
161.8%
200%
If price is between two levels on the update the lines shift
Yearly Pivots shown on 1m - Daily timeframes
PIvots recalculate on every day
Monthly pivots show on 1m - 60m timeframes
Pivots recalculate every hour
Weekly pivots show on 1m - 15m timeframes
Pivots recalculate every 30m
There is a lot of code but it got the job done.
It would easy to interchange if you prefer different types of pivots
It would be easy to add an on/off if you dont want so many levels on your smaller time frames
If anyone can streamline it please do
Fib Pivots used
23.6%
38.2%
50%
61.8%
76.4%
100%
127.2%
141.4%
161.8%
200%
If price is between two levels on the update the lines shift
Yearly Pivots shown on 1m - Daily timeframes
PIvots recalculate on every day
Monthly pivots show on 1m - 60m timeframes
Pivots recalculate every hour
Weekly pivots show on 1m - 15m timeframes
Pivots recalculate every 30m
There is a lot of code but it got the job done.
It would easy to interchange if you prefer different types of pivots
It would be easy to add an on/off if you dont want so many levels on your smaller time frames
If anyone can streamline it please do
Release Notes
A much cleaner code...A huge shoutout goes out to Quant Nomad and HPotter for the different pieces that helped me bring this together.
I few notes I wanted to add. This tool is built to be used along your standard fibonacci pivot points to find pivot point confluences from higher timeframes
It is not to user friendly being that I do not have many changeable inputs but code should be relatively easy to change at will
Noted Updates
- The 15 minute chart now shows all of the S/R (Yearly, Monthly, and Weekly)
- The labeling for 1H chart line is cleaned up
- The changes now correctly occur across all trading instruments
Release Notes
Issue: ghost zero line - resolved; all levels can now be seen in full view without "scale price only" checked as a scale optionIssue: speed to compile - resolved
Added choice between dashed or solid line
Much simpler code
Levels have been renamed and tagged to stay in line with the normal R1/S1 - R3/S3 markers from the TV indicator
Release Notes
More timeframe periods added Release Notes
Release notes: v1.5Color input has been added
Bug Fixed: None intraday showed label but not the line, that bug is now corrected
Release Notes
v1.6This will most likely be the last iteration unless there are design requests.
The code for the placement of the labels has been cleaned up
The repainting issue has been taken care of
A lot of the patch code for irregular line placements have been removed due to changes TV made to pine script itself
Color inputs for the support/resistance lines have been added
please leave a comment if you have any issues
Release Notes
v1.7Also a gentle reminder that this is most effective when used in conjunction with the Standard Fibonacci Pivot Point Indicator as a confluence tool in trend, swing, and/or scalp trading.
Feel free to use TV version or my more dynamic one which includes the mid and extended fib levels that are accented by the dashed lines...the script can be found here.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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