OPEN-SOURCE SCRIPT
Fibonacci Plot [ABA Invest]]
ABOUT
This Fibonacci tool is easier than the usual Fibonacci drawing. with this, we can use Fibonacci drawing by choosing 2 different candles as starting point and ending point
INPUT SETTING
Fibonacci type: we can choose the type
option 1--> Fibonacci standard: display multiple levels constructed using the starting price point, ending price point, and multiple Fibonacci ratios. These levels can be used as support and resistance
option 2--> Fibonacci musang displays multiple levels constructed using the starting price point, ending price point, and multiple Fibonacci ratios. these levels can be used as taking profit level and also to know the ending of trendline
Drawing point: we can choose the type how we want the tools to draw our starting and ending point at candlestick
- wick to wick
- wick to body
- body to body
This Fibonacci tool is easier than the usual Fibonacci drawing. with this, we can use Fibonacci drawing by choosing 2 different candles as starting point and ending point
INPUT SETTING
Fibonacci type: we can choose the type
option 1--> Fibonacci standard: display multiple levels constructed using the starting price point, ending price point, and multiple Fibonacci ratios. These levels can be used as support and resistance
option 2--> Fibonacci musang displays multiple levels constructed using the starting price point, ending price point, and multiple Fibonacci ratios. these levels can be used as taking profit level and also to know the ending of trendline
Drawing point: we can choose the type how we want the tools to draw our starting and ending point at candlestick
- wick to wick
- wick to body
- body to body
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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