Fibonacci Moving Average PlusFibonacci Moving Average Plus is a sophisticated technical indicator that employs the first 15 numbers of the Fibonacci sequence to create dynamic moving average channels. This indicator aims to capture both immediate and long-term price movements by calculating Exponential Moving Averages (EMAs) based on these Fibonacci values. By using Fibonacci-based moving averages for both high and low price points, the indicator generates a visual channel that reflects the ebb and flow of market trends, acting as potential zones of support and resistance. Additionally, the indicator provides midline, retracement, and extension levels rooted in Fibonacci ratios, which are frequently observed as key levels for reversals or trend continuation.
Ideology Behind Using Fibonacci Sequence-Based Moving Averages
The Fibonacci sequence, known for its mathematical harmony and prevalence in natural patterns, is widely utilized in technical analysis to identify potential turning points in markets. In this indicator, the first 15 Fibonacci numbers (5, 8, 13, 21, etc.) are used as the lookback periods for EMAs to capture different layers of market sentiment. These moving averages represent timeframes that are theoretically in alignment with the natural rhythms of market cycles, where key levels—often coinciding with Fibonacci numbers—can act as magnetic points for price.
The Fibonacci high and low channels aim to encapsulate price action, giving traders a sense of whether the market is trending, consolidating, or experiencing reversal pressure. These levels, grounded in both mathematics and market psychology, help traders spot areas where price might face resistance or find support.
Key Features
Fibonacci Moving Average High and Low: This indicator calculates the high and low EMAs based on Fibonacci sequence numbers (e.g., 5, 8, 13, etc.) for enhanced trend analysis.
Golden Pocket Retracement (GPR) and Extension (GPE) Bands: Displays common Fibonacci retracement and extension levels (0.618, 0.65 for retracement, and 1.618, 1.65 for extension).
Midline: Plots the average of the Fibonacci high and low to act as an additional reference level.
Stop-Loss Levels: Provides suggested stop-loss levels based on Fibonacci levels for both long and short positions.
Basic User Guide
Adjust Input Settings:
Input Timeframe: Set a specific timeframe for the Fibonacci moving average calculation, separate from the chart's primary timeframe.
Show Fibonacci MA High/Low: Toggle the visibility of the high and low Fibonacci moving averages.
Show Mid Line: Display a midline for added trend reference.
Show Golden Pocket Bands: Choose to display retracement or extension bands for potential support or resistance zones.
Show Stop-Loss Levels: Enable to visualize potential stop-loss levels for both long and short trades.
Interpretation:
Fibonacci MA High and Low: Use these lines to gauge the general trend. When the price is above both, it may indicate an uptrend; below both, a downtrend.
Golden Pocket Retracement: This zone (between 0.618 and 0.65) is often a key level for potential reversals or support/resistance.
Golden Pocket Extension: The 1.618 and 1.65 levels can indicate potential profit-taking or trend exhaustion points.
Stop-Loss Levels: The calculated stop-loss levels (long SL below and short SL above) can aid in risk management.
Customization:
You can customize the appearance and visibility of each component through the input settings to fit your specific strategy and visual preferences.
This indicator should be used alongside other technical analysis tools to provide a more comprehensive trading approach.
This Indicator would not exist without the original contributions and blessing from Sofien Kaabar
Fibonacci
FibExtender [tradeviZion]FibExtender : A Guide to Identifying Resistance with Fibonacci Levels
Introduction
Fibonacci levels are essential tools in technical analysis, helping traders identify potential resistance and support zones in trending markets. FibExtender is designed to make this analysis accessible to traders at all levels, especially beginners, by automating the process of plotting Fibonacci extensions. With FibExtender, you can visualize potential resistance levels quickly, empowering you to make more informed trading decisions without manually identifying every pivot point. In this article, we’ll explore how FibExtender works, guide you step-by-step in using it, and share insights for both beginner and advanced users.
What is FibExtender ?
FibExtender is an advanced tool that automates Fibonacci extension plotting based on significant pivot points in price movements. Fibonacci extensions are percentages based on prior price swings, often used to forecast potential resistance zones where price might reverse or consolidate. By automatically marking these Fibonacci levels on your chart, FibExtender saves time and reduces the complexity of technical analysis, especially for users unfamiliar with calculating and plotting these levels manually.
FibExtender not only identifies Fibonacci levels but also provides a customizable framework where you can adjust anchor points, colors, and level visibility to suit your trading strategy. This customization allows traders to tailor the indicator to fit different market conditions and personal preferences.
Key Features of FibExtender
FibExtender offers several features to make Fibonacci level analysis easier and more effective. Here are some highlights:
Automated Fibonacci Level Identification : The script automatically detects recent swing lows and pivot points to anchor Fibonacci extensions, allowing you to view potential resistance levels with minimal effort.
Customizable Fibonacci Levels : Users can adjust the specific Fibonacci levels they want to display (e.g., 0.618, 1.0, 1.618), enabling a more focused analysis based on preferred ratios. Each level can be color-coded for visual clarity.
Dual Anchor Points : FibExtender allows you to choose between anchoring levels from either the last pivot low or a recent swing low, depending on your preference. This flexibility helps in aligning Fibonacci levels with key market structures.
Transparency and Visual Hierarchy : FibExtender automatically adjusts the transparency of levels based on their "sequence age," creating a subtle visual hierarchy. Older levels appear slightly faded, helping you focus on more recent, potentially impactful levels.
Connection Lines for Context : FibExtender draws connecting lines from recent lows to pivot highs, allowing users to visualize the price movements that generated each Fibonacci extension level.
Step-by-Step Guide for Beginners
Let’s walk through how to use the FibExtender script on a TradingView chart. This guide will ensure that you’re able to set it up and interpret the key information displayed by the indicator.
Step 1: Adding FibExtender to Your Chart
Open your TradingView chart and select the asset you wish to analyze.
Search for “FibExtender ” in the Indicators section.
Click to add the indicator to your chart, and it will automatically plot Fibonacci levels based on recent pivot points.
Step 2: Customizing Fibonacci Levels
Adjust Levels : Under the "Fibonacci Settings" tab, you can enable or disable specific levels, such as 0.618, 1.0, or 1.618. You can also change the color for each level to improve visibility.
Set Anchor Points : Choose between "Last Pivot Low" and "Recent Swing Low" as your Fibonacci anchor point. If you want a broader view, choose "Recent Swing Low"; if you prefer tighter levels, "Last Pivot Low" may be more suitable.
Fib Line Length : Modify the line length for Fibonacci levels to make them more visible on your chart.
Step 3: Spotting Visual Clusters (Manual Analysis)
Identify Potential Resistance Clusters : Look for areas on your chart where multiple Fibonacci levels appear close together. For example, if you see 1.0, 1.272, and 1.618 levels clustered within a small price range, this may indicate a stronger resistance zone.
Why Clusters Matter : Visual clusters often signify areas where traders expect heightened price reaction. When levels are close, it suggests that resistance may be reinforced by multiple significant ratios, making it harder for price to break through. Use these clusters to anticipate potential pullbacks or consolidation areas.
Step 4: Observing the Price Action Around Fibonacci Levels
As price approaches these identified levels, watch for any slowing momentum or reversal patterns, such as doji candles or bearish engulfing formations, that might confirm resistance.
Adjust Strategy Based on Resistance : If price hesitates or reverses at a clustered resistance zone, it may be a signal to secure profits or tighten stops on a long position.
Advanced Insights (for Intermediate to Advanced Users)
For users interested in the technical workings of FibExtender, this section provides insights into how the indicator functions on a code level.
Pivot Point and Swing Detection
FibExtender uses a pivot-high and pivot-low detection function to identify significant price points. The upFractal and dnFractal variables detect these levels based on recent highs and lows, creating the basis for Fibonacci extension calculations. Here’s an example of the code used for this detection:
// Fractal Calculations
upFractal = ta.pivothigh(n, n)
dnFractal = ta.pivotlow(n, n)
By setting the number of periods for n, users can adjust the sensitivity of the script to recent price swings.
Fibonacci Level Calculation
The following function calculates the Fibonacci levels based on the selected pivot points and applies each level’s specific ratio (e.g., 0.618, 1.618) to project extensions above the recent price swing.
calculateFibExtensions(float startPrice, float highPrice, float retracePrice) =>
fibRange = highPrice - startPrice
var float levels = array.new_float(0)
array.clear(levels)
if array.size(fibLevels) > 0
for i = 0 to array.size(fibLevels) - 1
level = retracePrice + (fibRange * array.get(fibLevels, i))
array.push(levels, level)
levels
This function iterates over each level enabled by the user, calculating extensions by multiplying the price range by the corresponding Fibonacci ratio.
Example Use Case: Identifying Resistance in Microsoft (MSFT)
To better understand how FibExtender highlights resistance, let’s look at Microsoft’s stock chart (MSFT), as shown in the image. The chart displays several Fibonacci levels extending upward from a recent pivot low around $408.17. Here’s how you can interpret the chart:
Clustered Resistance Levels : In the chart, note the grouping of several Fibonacci levels in the range of $450–$470. These levels, particularly when tightly packed, suggest a zone where Microsoft may encounter stronger resistance, as multiple Fibonacci levels signal potential barriers.
Applying Trading Strategies : As price approaches this clustered resistance, traders can watch for weakening momentum. If price begins to stall, it may be wise to lock in profits on long positions or set tighter stop-loss orders.
Observing Momentum Reversals : Look for specific candlestick patterns as price nears these levels, such as bearish engulfing candles or doji patterns. Such patterns can confirm resistance, helping you make informed decisions on whether to exit or manage your position.
Conclusion: Harnessing Fibonacci Extensions with FibExtender
FibExtender is a powerful tool for identifying potential resistance levels without the need for manual Fibonacci calculations. It automates the detection of key swing points and projects Fibonacci extensions, offering traders a straightforward approach to spotting potential resistance zones. For beginners, FibExtender provides a user-friendly gateway to technical analysis, helping you visualize levels where price may react.
For those with a bit more experience, the indicator offers insight into pivot points and Fibonacci calculations, enabling you to fine-tune the analysis for different market conditions. By carefully observing price reactions around clustered levels, users can identify areas of stronger resistance and refine their trade management strategies accordingly.
FibExtender is not just a tool but a framework for disciplined analysis. Using Fibonacci levels for guidance can support your trading decisions, helping you recognize areas where price might struggle or reverse. Integrating FibExtender into your trading strategy can simplify the complexity of Fibonacci extensions and enhance your understanding of resistance dynamics.
Note: Always practice proper risk management and thoroughly test the indicator to ensure it aligns with your trading strategy. Past performance is not indicative of future results.
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Fibonacci Buy /Sell SignalsHere is a Fibonacci-based Buy/Sell Indicator using retracement levels for potential support and resistance zones. This indicator plots Fibonacci levels and provides buy/sell signals based on price interaction with these levels.
Fibonacci Levels:
Highest high and lowest low over the lookback period.
Key levels: 38.2% (retracement), 50% (midpoint), 61.8% (strong retracement).
Buy Signal: When the price crosses above the 61.8% Fibonacci level (bullish).
Sell Signal: When the price crosses below the 38.2% Fibonacci level (bearish).
SMA Fibonacci Rainbow Waves[FibonacciFlux]SMA Fibonacci Rainbow Waves
Overview
The SMA Fibonacci Rainbow Waves script is designed for traders who seek to blend simplicity with complexity in their trading strategies. By leveraging multiple Simple Moving Averages (SMAs) weighted by Fibonacci numbers, this indicator provides a nuanced view of price action, allowing traders to capture essential market dynamics while filtering out unnecessary noise.
Key Features
1. Multiple Simple Moving Averages (SMA)
- The indicator employs a series of SMAs to represent both short-term and long-term trends, providing a comprehensive view of market sentiment.
- Each SMA helps identify critical price levels that serve as support and resistance, particularly the purple Fibonacci SMA, which can be pivotal for limit entries. Traders positioned at this level can initiate stop-loss hunts at the institutional level, potentially achieving risk-reward ratios exceeding 30.
2. Fibonacci Weighting
- By applying Fibonacci principles to the SMAs, the indicator enhances adaptability to market conditions.
- This unique approach allows traders to pinpoint significant support and resistance levels within Fibonacci layers, enabling them to anticipate market movements effectively.
3. Dynamic Support and Resistance Levels
- The SMA Fibonacci Rainbow Waves indicator identifies key price levels that act as support and resistance based on Fibonacci layers.
- For instance, on the hourly chart, these levels function as reliable zones for traders to watch for potential reversals, while on the 15-minute chart, a consolidation within the rainbow pocket followed by expansion can signal lucrative trading opportunities.
4. Visual Clarity with Color Coding
- Each SMA is assigned a distinct color, making it easy to differentiate between the various levels on the chart.
- Fills between SMAs visually represent zones of confluence, enhancing the analysis of potential trading opportunities.
Signal Generation and Alerts
- The indicator generates buy and sell signals based on the interactions of the SMAs, providing clear entry and exit points.
- Customizable alerts notify traders of significant market changes, allowing for timely reactions to evolving conditions.
Benefits
1. Simplified Trading Approach
- Traders can focus on significant market trends without distraction, enhancing decision-making efficiency and reducing emotional trading.
2. Flexibility Across Timeframes
- The indicator operates effectively across multiple timeframes, allowing traders to apply its principles in various scenarios, from scalping to longer-term strategies.
3. Enhanced Market Insights
- The combination of multiple SMAs and Fibonacci weighting offers a comprehensive view of market trends, helping traders identify lucrative opportunities that may be overlooked.
4. Bridging Simplicity and Complexity
- This indicator elegantly addresses the contradictions in trading psychology, allowing traders to maintain clarity while navigating complex market dynamics.
Conclusion
The SMA Fibonacci Rainbow Waves script is an essential tool for traders seeking to streamline their analysis while effectively capturing market movements. By integrating Fibonacci principles with multiple SMAs, this indicator empowers traders to follow trends confidently. Its design makes it invaluable for both novice and experienced traders, revealing entry points often missed by traditional indicators.
Open Source Collaboration
This script is available as an open-source project on TradingView, inviting contributions from the global trading community to enhance its functionality. Collaboration ensures it remains a valuable resource for market participants.
Important Note
As with any trading tool, thorough analysis and risk management are crucial when using this indicator. Past performance does not guarantee future results, and traders should always prepare for potential market fluctuations.
HMA Fibonacci Rainbow Waves[FibonacciFlux]HMA Fibonacci Rainbow Waves
Overview
The HMA Fibonacci Rainbow Waves script is designed for traders who strive for simplicity in their trading strategies while navigating the complexities of chart analysis. By utilizing the Hull Moving Average (HMA) for smoothing, this indicator provides a refined view of price action. However, over-smoothing can sometimes filter out essential market noise. To address this, the indicator incorporates a unique approach by applying Fibonacci weighting to seven HMA200 calculations. This enables traders to capture noise while effectively following market trends.
BTCUSDT 4hour
Key Features
1. Hull Moving Average (HMA)
- The HMA is known for its responsiveness and ability to filter out noise, providing a clear view of the underlying trend.
- The indicator balances smoothness with responsiveness, making it suitable for various trading styles, from day trading to swing trading and scalping.
2. Fibonacci Weighting
- By applying Fibonacci numbers to the HMA calculations, the indicator enhances its ability to adapt to market dynamics.
- This unique approach allows traders to maintain clarity while accommodating fluctuations in price action, ensuring they do not miss critical entry points.
3. Multi-Timeframe Functionality
- The HMA Fibonacci Rainbow Waves indicator operates effectively across multiple timeframes, including daily, 4-hour, 5-minute, and 1-minute charts.
- This adaptability makes it a valuable tool for traders, regardless of their preferred trading style, facilitating seamless transitions between different market conditions.
4. Noise Capture and Trend Following
- The indicator is designed to capture essential market movements while filtering out excessive noise.
- It helps traders follow trends without being overwhelmed by market fluctuations, allowing them to act on advantageous entry conditions that might otherwise be obscured.
Signal Generation and Alerts
- The indicator generates buy and sell signals based on the relationship between the HMAs, providing clear entry and exit points.
- Customizable alerts keep traders informed of significant changes in market conditions, enabling timely decisions that reflect the nuances of market behavior.
BTCUSDT 15min
Benefits
1. Simplified Trading Approach
- Traders can focus on core market movements without being distracted by excessive noise, enhancing decision-making efficiency and minimizing emotional trading.
2. Flexibility Across Timeframes
- The ability to function across different timeframes allows traders to apply the same principles in various trading scenarios, from quick scalps to strategic swing trades.
3. Enhanced Market Insights
- The combination of HMA smoothing and Fibonacci weighting offers a comprehensive view of market trends, aiding traders in identifying potential opportunities, including those that institutional investors might exploit.
4. Resolving Complexity with Simplicity
- This indicator elegantly bridges the gap between simplicity and complexity, providing a single tool that addresses the inherent contradictions in trading psychology. It allows traders to simplify their strategies while still capturing the dynamic nature of the market.
BTCUSDT 1min
Conclusion
The HMA Fibonacci Rainbow Waves script is a powerful tool for traders seeking to streamline their analysis while effectively capturing market dynamics. By integrating advanced smoothing techniques with Fibonacci weighting, this indicator empowers traders to follow market trends confidently across various timeframes. Its design makes it an essential asset for both novice and experienced traders alike, offering insights that can reveal entry points often missed by traditional indicators.
Open Source Collaboration
This script is released as an open-source project on TradingView, inviting the global trading community to contribute and enhance its functionality. By collaborating on this project, traders can help improve its capabilities, ensuring it remains a valuable resource for market participants around the world.
Important Note
As with any trading tool, it is crucial to conduct thorough analysis and risk management when using this indicator. Past performance does not guarantee future results, and traders should always be prepared for potential market fluctuations.
BOS TRADER [v 1.0] [Influxum]The name of the tool, BOS Trader, comes from the abbreviation BOS, which stands for Break Of Structure. In simple terms, this tool identifies situations where a change in market structure occurs after liquidity has been grabbed. Following the structural change, it looks for a point where the balance between buyers and sellers will be tested, potentially continuing the price movement in the direction of the structural break.
The goal of this tool is to identify areas where a trader can look for potential entry opportunities based on their entry rules and filters. In our own research, we found that while this tool is not a standalone strategy, it provides a statistical advantage that stems from the nature of the market itself. If you expect the market to reverse at a certain price level against a short-term, medium-term, or long-term trend, that reversal must logically begin with a change in structure – i.e., its break. BOS Trader then highlights the zone where you can expect a strong reaction from traders speculating on the continuation of price in the direction of the break.
Another important piece of the puzzle is the concept of liquidity. Liquidity grabs are generally considered by traders to be events that can trigger market direction changes. That's why BOS Trader is complemented with multiple ways to identify liquidity in the market from a Price Action perspective. We have explored the liquidity concept in depth in our other tools – the Liquidity Tool and Liquidity Strategy Tester – so we won’t go into too much detail on liquidity settings here.
🟪 Pivots
Liquidity can be found beyond pivot extremes – the highest candles in a series of candles. The pivot liquidity setting specifies how many candles must be before and after the pivot candle with a lower high for a pivot high or a higher low for a pivot low. A pivot high is the local highest point of the last 31 candles (15 before the pivot candle, the pivot candle itself, and 15 after). Another option is to set the time period in which the pivot extreme must occur. For example, you can differentiate between pivot highs of the Asian or London session.
🟪 % Percent Change
This setting is based on the well-known Zig Zag indicator and confirms swing highs or swing lows when there is a certain percentage change in price. This helps filter out noise that can occur when the market consolidates and randomly creates pivot highs or lows that aren’t significant.
🟪 Session High/Low
Many popular strategies are based on liquidity defined as the price range of a specific trading session. This doesn't have to be London, Asia, or New York sessions, but could be, for instance, the first hour of the New York session, and so on.
🟪 Day High/Low, Week High/Low, Month High/Low
As the name suggests, liquidity is often defined by the high/low of the previous day, week, or month. These price levels are watched by many market participants, and it's reasonable to expect reactions at these levels. That’s why we included this option in the BOS tool.
Tip for Traders
To avoid common issues with setting the correct session time, we have added the BG option to the tool – the ability to display a background for the configured trading session. This makes it easy to verify that your trading session is set correctly in relation to your time zone.
Delete grabbed liquidity
If a liquidity level is breached by price, it becomes invalid. For those who prefer to keep their charts clean and uncluttered, there is an option to delete grabbed liquidity. This way, only untraded, valid liquidity lines will be visible on the chart.
Bars after liquidity grab
A liquidity grab should be a significant event that triggers a reaction from market participants. To ensure this is a real response to liquidity rather than random market behavior, we added a time test to the BOS tool. A structural break must occur within a specified time after the liquidity grab. You can define this time in the tool as the number of bars after which the structural break is still considered valid following the liquidity grab.
🟪 AOI (Area of Interest) Settings
Initially, it's important to note that there are two main options for setting the behavior of the AOI. The first option is to fix its duration by the number of bars – Duration, and the second is to keep the AOI valid until it is traded through – Extended.
Duration
Since we expect a quick reaction to the liquidity grab, we also expect a fast pullback to the AOI and a swift response of traders. Our research has shown that the strongest reactions typically occur within a maximum of 15 bars from the formation of the AOI (fractally across timeframes). Therefore, this value is set as the default. However, we recommend considering not just the speed of the reaction but also its intensity. After the set number of bars, the AOI stops extending further.
Extended
We have noticed that price has a tendency to return to the AOI even after a longer period and react again. For this reason, we included the option in the BOS tool to extend the AOI into the future, with the ability to freely adjust the Max AOI Length.
🟪 AOI Size Mode
There are two options for setting the size of the AOI. Either it can be calculated as a percentage of the swing size (% of swing) in which the structural break occurred (the default setting is 30%), or you can set a different concept for the AOI size. For example, the well-known Optimal Trade Entry model. Custom values can be set in the FIBO Levels option, where you can define either preferred Fibonacci values or values based on your own criteria.
🟪 Trading Session (signals + alerts + visibility)
The main goal of our tools is to make it easier for traders to identify patterns and opportunities in the market and allow them to be alerted to their occurrence. The time for AOI plotting after a liquidity grab is combined into a single Trading Session function. This controls both the AOI plotting and when the tool will send alerts. All of this is aimed at helping traders avoid spending the entire day in front of their monitors, waiting for trading opportunities. Here, too, you can use the BG feature to plot a background on the chart showing the current session.
🟪 Trading within session range
We found that some traders have difficulty navigating the many AOIs plotted during times when the market consolidates and creates numerous false breakouts. Therefore, we included an option in the BOS tool to track only structural changes at the price extremes of the current day and trading session. The tool will not plot structural changes for internal liquidity grabs (within the session range), but only for external liquidity grabs (highest highs and lowest lows of the session or liquidity from previous days).
Visuals
The BOS tool is, of course, supplemented with the option to customize the appearance of all its components according to your preferences.
FibLevel Size CalculatorThis skript calculates position sizes and new take profits for sizing into an long or short position with 3 entrys defined at custom fibonacci retracement levels.
TP: -0,272
Entry1: 0.382
Entry2: 0.618
Entry3: 0.83
SL: 1.05
Expected RR per trade is 0.2 with a High Win rate definitly profitable.
Search for an established trend on the higher timeframe, drop to the smaller ones and look for correction waves. Once they break to the trenddirection of the higher timeframe take the fib from lowest to highes point. Draw a fib level on the chart and use the Indicator to define these Levels above. The calculator gives you the Margin to use in each position, and will check that you will not get liquidated an that you have enough margin. It tells you the new TP for Limit2 and Limit3 if they get hit so you can get out of the trade full TP with a small bounce.
Inputs:
Account Balance, Risk Percentage, and Leverage: These inputs are used to calculate the position size and risk.
Entry 1, Entry 2, Entry 3, Take Profit (TP), and Stop Loss (SL): These prices are used for calculating position sizes, risk, and profit for up to three entry points.
Calculations:
Risk Amount: Calculated based on the account balance and risk percentage.
Position Sizes (Qty): For each entry point, the position size is determined. The second and third entries have a multiplier (3x for Entry 2, 5x for Entry 3) compared to the first.
Stop Loss and Profit Calculation: The script calculates the potential profit and adjusts the TP levels based on the average entries for Limit 2 and Limit 3.
Margin Calculation: Margin requirements for each position are calculated based on leverage.
Output:
Table Display: A table shows key values like entry prices, position sizes, TP levels, potential profit, and margin requirements for each limit.
Warnings: It includes a liquidation warning and a check for whether the account is at risk of liquidation based on leverage.
Position Type: It automatically detects if the trade is a long or short based on the relationship between TP and SL.
Visualization:
Lines: It draws horizontal lines on the chart to visually represent the entry, TP, and SL levels.
Overall, this script is designed to help traders manage risk and calculate position sizes for multi-level entries using leverage.
Pls drop feedback in the comments.
Fibonacci Swing Trading BotStrategy Overview for "Fibonacci Swing Trading Bot"
Strategy Name: Fibonacci Swing Trading Bot
Version: Pine Script v5
Purpose: This strategy is designed for swing traders who want to leverage Fibonacci retracement levels and candlestick patterns to enter and exit trades on higher time frames.
Key Components:
1. Multiple Timeframe Analysis:
The strategy uses a customizable timeframe for analysis. You can choose between 4hour, daily, weekly, or monthly time frames to fit your preferred trading horizon. The high and low-price data is retrieved from the selected timeframe to identify swing points.
2. Fibonacci Retracement Levels:
The script calculates two key Fibonacci retracement levels:
0.618: A common level where price often retraces before resuming its trend.
0.786: A deeper retracement level, often used to identify stronger support/resistance areas.
These levels are dynamically plotted on the chart based on the highest high and lowest low over the last 50 bars of the selected timeframe.
3. Candlestick Based Entry Signals:
The strategy uses candlestick patterns as the only indicator for trade entries:
Bullish Candle: A green candle (close > open) that forms between the 0.618 retracement level and the swing high.
Bearish Candle: A red candle (close < open) that forms between the 0.786 retracement level and the swing low.
When these candlestick patterns align with the Fibonacci levels, the script triggers buy or sell signals.
4. Risk Management:
Stop Loss: The stop loss is set at 1% below the entry price for long trades and 1% above the entry price for short trades. This tight risk management ensures controlled losses.
Take Profit: The strategy uses a 2:1 risk-to-reward ratio. The take profit is automatically calculated based on this ratio relative to the stop loss.
5. Buy/Sell Logic:
Buy Signal: Triggered when a bullish candle forms above the 0.618 retracement level and below the swing high. The bot then places a long position.
Sell Signal: Triggered when a bearish candle forms below the 0.786 retracement level and above the swing low. The bot then places a short position.
The stop loss and take profit levels are automatically managed once the trade is placed.
Strengths of This Strategy:
Swing Trading Focus: The strategy is ideal for swing traders, targeting longer-term price moves that can take days or weeks to play out.
Simple Yet Effective Indicators: By only relying on Fibonacci retracement levels and basic candlestick patterns, the strategy avoids complexity while capitalizing on well-known support and resistance zones.
Automated Risk Management: The built-in stop loss and take profit mechanism ensures trades are protected, adhering to a strict 2:1 risk/reward ratio.
Multiple Timeframe Analysis: The script adapts to various market conditions by allowing users to switch between different timeframes (4hour, daily, weekly, monthly), giving traders flexibility.
Strategy Use Cases:
Retracement Traders: Traders who focus on entering the market at key retracement levels (0.618 and 0.786) will find this strategy especially useful.
Trend Reversal Traders: The strategy’s reliance on candlestick formations at Fibonacci levels helps traders spot potential reversals in price trends.
Risk Conscious Traders: With its 1% risk per trade and 2:1 risk/reward ratio, the strategy is ideal for traders who prioritize risk management in their trades.
TechniTrend: Dynamic Local Fibonacci LevelsTechniTrend: Dynamic Local Fibonacci Levels
Description: The "Dynamic Local Fibonacci Levels" indicator dynamically displays Fibonacci levels only when the market is experiencing significant volatility. By detecting volatile price movements, this tool helps traders focus on Fibonacci retracement levels that are most relevant during high market activity, reducing noise from calm market periods.
Key Features:
Adaptive Fibonacci Levels: The indicator calculates and plots Fibonacci levels (from 0 to 1) only during periods of high volatility. This helps traders focus on actionable levels during significant price swings.
Customizable Chart Type: Users can choose between Candlestick charts (including shadows) or Line charts (excluding shadows) to determine the high and low price points for Fibonacci level calculations.
Volatility-Based Detection: The Average True Range (ATR) is used to detect significant volatility. Traders can adjust the ATR multiplier to fine-tune the sensitivity of the indicator to price movements.
Fully Customizable Fibonacci Levels: Traders can modify the default Fibonacci levels according to their preferences or trading strategies.
Real-Time Volatility Confirmation: Fibonacci levels are displayed only if the price range between the local high and low exceeds a user-defined volatility threshold, ensuring that these levels are only plotted when the market is truly volatile.
Customization Options:
Chart Type: Select between "Candles (Includes Shadows)" and "Line (Excludes Shadows)" for detecting price highs and lows.
Length for High/Low Detection: Choose the period for detecting the highest and lowest price in the given time frame.
ATR Multiplier for Volatility Detection: Adjust the sensitivity of the volatility threshold by setting the ATR multiplier.
Fibonacci Levels: Customize the specific Fibonacci levels to be displayed, from 0 to 1.
Usage Tips:
Focus on Key Levels During Volatility: This indicator is best suited for periods of high volatility. It can help traders identify potential support and resistance levels that may be more significant in turbulent markets.
Adjust ATR Multiplier: Depending on the asset you're trading, you might want to fine-tune the ATR multiplier to better suit the market conditions and volatility.
Recommended Settings:
ATR Multiplier: 1.5
Fibonacci Levels: Default levels set to 0.00, 0.114, 0.236, 0.382, 0.5, 0.618, 0.786, and 1.0
Length for High/Low Detection: 55
Use this indicator to detect key Fibonacci retracement levels in volatile market conditions and make more informed trading decisions based on price dynamics and volatility.
Strength/Weakness IndicatorThe Strength/Weakness Indicator is a customisable tool designed to help traders identify key areas of market strength and weakness based on the 50% Fibonacci retracement level .
█ Underlying Concept:
The concept behind this indicator draws heavily on the principles of Fibonacci retracement and WD Gann’s market theories , particularly the importance of the 50% level in signalling critical psychological areas of support and resistance. Historically, the 50% retracement level has been regarded as a key marker where markets either find new buyers/sellers or continue a trend. Gann himself placed significant emphasis on the halfway point of a previous market move as a critical level for market strength and reversal.
Strength : When an asset is trading above the 50% retracement level, it suggests that buyers are in control and that the market is showing strength. This is particularly useful for traders aiming to ride the continuation of an uptrend.
Weakness : Conversely, when the price falls below the 50% retracement level, it indicates that sellers are dominating, and the market is showing signs of weakness. This can be an early indication of a potential reversal or further decline.
█ Key Features:
1 — Multi-Timeframe Fibonacci Analysis :
This indicator supports up to two distinct retracement levels, allowing traders to analyse multiple timeframes simultaneously. Customise the look-back periods for each level to track the highest high and lowest low over your chosen period.
The tool is adaptable to short-term, swing trading, and long-term investing, making it useful across different trading styles.
2 — Dynamic Strength/Weakness Labelling :
The script dynamically calculates and displays whether the asset is “STRONG” or “WEAK” based on its position relative to the 50% retracement levels. If the price is above both levels, it is considered "VERY STRONG." Conversely, trading below both levels signals "VERY WEAK" conditions. This real-time feedback helps traders gauge market sentiment with ease.
3 — Customizable Visual Representation :
Both retracement levels are fully customisable, including line colours, styles, and thicknesses. The script offers custom background fills—highlighting areas of strength (green) and weakness (red)—to provide a clear visual aid for identifying key price zones.
Traders can modify the appearance of text labels (size, colour, position) and choose whether to extend lines left, right, both directions, or not at all.
4 — Cross-Timeframe Validation :
Traders can cross-reference price action between two timeframes to confirm trends. If both levels signal strength or weakness, it validates market momentum, increasing confidence in trade decisions.
5 — Strategic Decision-Making Aid :
The indicator aids in identifying support and resistance zones based on the 50% retracement level. Use it to time entries and exits effectively: price above the 50% level suggests potential trend continuation, while falling below may indicate reversal.
█ How It Works:
1 — Defining Custom Timeframes :
The trader selects custom time periods (days, weeks, months, or years) to calculate the highest high and lowest low, allowing precise control over the analysis.
2 — Calculating Strength/Weakness :
Once the 50% retracement level is calculated, the price’s position relative to it determines the market’s condition. Above 50% signals strength, below signals weakness.
3 — Comparing Multiple Timeframes :
Enable a second retracement level to compare different time periods. This feature is useful for spotting divergences between short-term and long-term trends or validating strength across timeframes.
█ How to Use:
1 — Assess Market Conditions :
If price trades above both 50% retracement levels, it indicates strong bullish momentum. Conversely, trading below both levels signals bearish conditions.
2 — Plan Entries/Exits :
Use the 50% level as a reference for support and resistance. Plan to enter when the price bounces off the 50% level, or exit if it breaks down below this critical level.
3 — Cross-Timeframe Analysis :
Validate the market trend by comparing retracement levels across different timeframes. This helps in confirming whether the trend is strong enough to justify holding a position.
█ Why This Indicator is Unique:
Comprehensive Multi-Timeframe Analysis : While most Fibonacci indicators focus on a single period, this tool provides a deeper understanding by allowing traders to compare price action across multiple timeframes.
Customizable and Dynamic : The real-time strength/weakness labeling, customizable background fills, and the ability to analyze two retracement levels simultaneously make this tool adaptable to any trading strategy.
Valuable for All Traders : Whether you are day trading, swing trading, or investing long-term, the Strength/Weakness Indicator offers clarity on key market levels and sentiment, improving decision-making for entries and exits.
Disclaimer : This script is for educational purposes and is not financial advice. Trading involves significant risk, so please consult a professional advisor before making investment decisions. For the best results, use this indicator alongside other technical analysis methods like trend lines or moving averages to help you confirm signals and make more informed decisions.
FiboTrace.V33FiboTrace.V33 - Advanced Fibonacci Retracement Indicator is a powerful and visually intuitive Fibonacci retracement indicator designed to help traders identify key support and resistance levels across multiple timeframes. Whether you’re a day trader, swing trader, or long-term investor, FiboTrace.V33 provides the essential tools needed to spot potential price reversals and continuations with precision.
Key Features:
• Dynamic Fibonacci Levels: Automatically plots the most relevant Fibonacci retracement levels based on recent swing highs and lows, ensuring you always have the most accurate and up-to-date levels on your chart.
• Gradient Color Zones: Easily distinguish between different Fibonacci levels with visually appealing gradient color fills. These zones help you quickly identify key areas of price interaction, making your analysis more efficient.
• Customizable Levels: Tailor FiboTrace.V33 to your trading style by adjusting the Fibonacci levels and colors to match your preferences. This flexibility allows you to focus on the levels most relevant to your strategy.
• Multi-Timeframe Versatility: Works seamlessly across all timeframes, from 1-minute charts for day traders to weekly and monthly charts for long-term investors. The indicator adapts to your trading horizon, providing reliable signals in any market environment.
• Confluence Alerts: Receive alerts when price enters zones where multiple Fibonacci levels overlap, indicating strong support or resistance. This feature helps you catch high-probability trade setups without constantly monitoring the charts.
How to Use:
• Identify Entry and Exit Points: Use the plotted Fibonacci levels to determine potential entry and exit points. Price retracements to key Fibonacci levels can signal opportunities to enter trades in the direction of the prevailing trend.
• Spot Reversals and Continuations: Watch for price action around the gradient color zones. A bounce off a Fibonacci level may indicate a trend continuation, while a break could signal a potential reversal.
• Combine with Other Indicators: For best results, consider using FiboTrace.V33 in conjunction with other technical indicators, such as moving averages, RSI, or MACD, to confirm signals and enhance your trading strategy.
Timeframe Recommendations:
• Shorter Timeframes (1-minute to 1-hour): Ideal for quick, intraday trades, though signals might be more prone to noise due to rapid market fluctuations.
• Medium Timeframes (4-hour to daily): Perfect for swing trading, offering more reliable Fibonacci levels that capture broader market trends.
• Longer Timeframes (weekly to monthly): Best for long-term investors, where Fibonacci levels act as strong support and resistance based on significant market moves.
• General Tip: Fibonacci retracement levels are more reliable on higher timeframes, but combining them with other indicators like moving averages or RSI can enhance signal accuracy across any timeframe.
Why FiboTrace.V33?
FiboTrace.V33 is more than just a Fibonacci retracement tool—it’s an essential part of any trader’s toolkit. Its intuitive design and advanced features help you stay ahead of the market, making it easier to identify high-probability trading opportunities and manage risk effectively.
Fibonacci Levels for Recent CandlesThis Pine Script indicator calculates and plots 17 predefined Fibonacci retracement levels based on the high and low of a user-defined number of previous candles. The levels are drawn on the chart for the most recent candles, as specified by the user, allowing traders to see how these historical Fibonacci levels align with the current price action.
Price & Volume Breakout Fibonacci Probability [TradeDots]📝 OVERVIEW
The "Price & Volume Breakout Fibonacci Probability" indicator is designed to detect the probability of the maximum run-up and drawdown of each breakout trade on an asset, assisting traders in optimizing their take profit and stop loss strategies.
🧮 CALCULATIONS
The algorithm detects price and volume breakouts to activate the Fibonacci levels displayed on the chart. It calculates these levels using the period pivot high and low, with the close price of the breakout bar as the reference price.
The indicator then forward-tests within an user-selected number of bars, detecting the maximum run-up and drawdown during that period. Consequently, it calculates the probability of the price hitting either side of the Fibonacci levels, showing the likelihood of reaching take profit and stop loss targets for each breakout trade.
📊 EXAMPLE
The above example shows two breakout trades, circled within the yellow rectangle zone.
The first trade has a maximum run-up above the +0.382 Fibonacci level zone and a maximum drawdown below the -0.618 Fibonacci level zone.
When the price reaches the maximum run-up, it only has a ~45% probability of moving further upward into the last two zones (25% + 19.44%). This indicates that setting a take profit at a higher level may have less than a 50% chance of success.
Conversely, when the price reaches its maximum drawdown, there is only an ~8% probability of moving further downward into the last drawdown zone. This could indicate a potential reversal.
⚙️ SETTINGS
Breakout Condition: Determines the type of breakout condition to track: "Price", "Volume", "Price & Volume".
Backtest Period: The maximum run-up and drawdown are detected within this bar period.
Price Breakout Period: Specifies the number of bars the price needs to break out from.
Volume Breakout Period: Specifies the number of bars the volume needs to break out from.
Trendline Confirmation: Confirms that the close price needs to be above the trendline.
📈 HOW TO USE
By understanding the probabilities of price movements to both the upside and downside, traders can set take profit and stop loss targets with greater accuracy.
For instance, placing a stop loss order below the zone with the highest probability minimizes the chances of being stopped out of a profitable trade. Conversely, setting a take profit target at the zone with the highest probability increases the win rate.
Additionally, if the price breaches multiple Fibonacci levels during the breakout period, it may indicate an abnormal state, signaling a potential reversal or pullback. This can help traders exit trades in a timely manner.
Traders can adjust their take profit and stop loss levels based on their individual risk tolerance.
RISK DISCLAIMER
Trading entails substantial risk, and most day traders incur losses. All content, tools, scripts, articles, and education provided by TradeDots serve purely informational and educational purposes. Past performances are not definitive predictors of future results.
Fibonacci Retracements & Trend Following Strategy V2This Pine Script strategy generates trading signals using Fibonacci levels and trend-following indicators.
1. Strategy Summary
This strategy analyzes price movements using a combination of Fibonacci levels and trend-following indicators, providing potential trading signals. The strategy includes Fibonacci levels as well as EMA (Exponential Moving Average) and ADX (Average Directional Index) indicators.
2. Indicators and Parameters
Fibonacci Levels
Fibonacci Level 1, Level 2, Level 3, Level 4: Used as Fibonacci retracement levels. These levels are typically set at 0.236, 0.382, 0.618, and 0.786. Users can adjust these values according to their preferences.
Trend-Following Indicator
Trend Length: The period for calculating the EMA used as the trend-following indicator. For example, if set to 20, the EMA will be calculated over 20 periods.
ADX (Average Directional Index)
ADX Length: The period for calculating the ADX. ADX measures the strength of the price trend and is usually set to 14 periods.
ADX Threshold: A threshold value for the ADX. This value determines when trading signals will be activated.
3. Usage Steps
Displaying the Indicator on the Chart:
On the TradingView platform, paste the code into the Pine Editor and click the "Add to Chart" button to add it to the chart.
Analyzing the Indicators:
Fibonacci Levels: Show retracement levels of price movements. When the price reaches one of these levels, potential reversals may occur.
Trend-Following Indicator: EMAs determine the direction of the trend. Green EMA represents an uptrend, while red EMA represents a downtrend.
ADX: Measures the strength of the trend. When ADX surpasses the threshold value, it indicates a strong trend.
Trading Signals:
Long Signal: Generated when the price is above the second Fibonacci level and the trend is upward. Additionally, the ADX value must be above the set threshold.
Short Signal: Generated when the price is below the second Fibonacci level and the trend is downward. Additionally, the ADX value must be above the set threshold.
Target Prices:
Long Targets: Determines upward targets based on Fibonacci levels. These targets indicate expected prices if the price reverses from Fibonacci levels.
Short Targets: Determines downward targets based on Fibonacci levels. These targets indicate expected prices if the price reverses from Fibonacci levels.
4. Chart Displays
Trend Up (Green Line): Shows the rising EMA.
Trend Down (Red Line): Shows the falling EMA.
Fibonacci Levels (Blue Lines): Shows Fibonacci retracement levels.
Long Targets (Green Circles): Shows targets for long positions.
Short Targets (Red Circles): Shows targets for short positions.
Long Signal (Green Label): Buy signal.
Short Signal (Red Label): Sell signal.
5. Important Notes
Retracement and Target Levels: Fibonacci levels can act as potential retracement or support/resistance levels. However, they should always be used in conjunction with other technical analysis tools.
Trend and ADX: ADX is used to determine the strength of the trend. Be aware that when ADX is low, trends may be weak.
6. Example Scenarios
Example 1: If the trend is upward (green EMA) and the price is above the second Fibonacci level, you may receive a long position signal. If the ADX value is above the threshold, the signal may be stronger.
Example 2: If the trend is downward (red EMA) and the price is below the second Fibonacci level, you may receive a short position signal. If the ADX value is above the threshold, the signal may be stronger.
This updated version contains significant improvements in both technical aspects and user experience. Innovations such as ADX calculations and dynamic Fibonacci levels make the strategy more robust and flexible. The code's readability and comprehensibility have been enhanced, and errors have been corrected.
This guide will help you understand the basic operation of the strategy. It is always recommended to conduct your own research and test the strategy before using it.
GOOD LUCK. // halilvarol
Linear and Logarithmic Fibonacci Levels and (Price&Time) FansIntroduction
The Fibonacci Retracement tool is a go-to for traders looking to spot potential support and resistance levels. By measuring the distance between swing highs and lows, you can apply Fibonacci ratios like 0.236, 0.382, and 0.618 to predict key market levels.
Traditionally, these levels are set by dividing this distance into equal parts—known as Linear Levels. A more refined approach, Logarithmic Price and Time Levels, divides the distance into proportionally equal segments. Plus, this indicator now includes Fibonacci fans, adding another layer of analysis by projecting potential price levels using trendlines based on Fibonacci ratios.
This tool makes it easier to identify both Linear and Logarithmic levels while also leveraging Fibonacci fans for a more complete market view.
Applications
Logarithmic Levels and Fibonacci fans are ideal for volatile markets. In crypto, they’re especially effective for BTCUSDT (check out the wick from January 23, 2024). They also help spot accumulation and distribution patterns in high-volume altcoins like FETUSDT . In traditional markets, they’re useful for tracking stocks like TSLA and NVDA with extreme price swings, as well as indices in inflation-affected markets like XU100 , or recession-hit currency pairs like JPYUSD .
How to Use
This indicator is intuitive and similar to TradingView’s Fibonacci Tool. Select your reference levels (Level 1 and Level 0), then tweak the settings to customize your analysis, including adding Fibonacci fans for extra insights.
Why It’s Different
Unlike TradingView’s tool, which forces you to switch to a logarithmic scale (messing with other indicators and trend lines), this indicator lets you view both Linear and Logarithmic levels—and Fibonacci fans on Price and Time Series—without changing your chart’s scale. The original Fibonacci Code was derived from zekicanozkanli, modified and upgraded to plot fib front and back fans as well. Due to TV Max Plot restrictions I need to publish just Front and Back and Front Fibs separately.
Dynamic Support, Resistance & Fibo by RezaDynamic Support, Resistance & Fibonacci Levels by Reza
This Pine Script indicator dynamically calculates and plots significant support and resistance levels, along with key Fibonacci retracement levels, based on recent price action. It provides traders with essential tools to identify crucial levels on the chart that may influence future price movements.
Key Features:
Dynamic Support and Resistance Lines:
The script identifies recent swing highs and swing lows within a customizable lookback period to determine dynamic support and resistance levels.
These levels are plotted as horizontal lines (blue for support, red for resistance) and are updated in real-time to reflect changes in the price structure.
Labels next to each line display the exact price level of the support and resistance, making it easy to identify them at a glance.
Fibonacci Retracement Levels:
The script calculates and plots Fibonacci retracement levels (23.6%, 38.2%, 50.0%, 55.9%, 61.8%, 66.7%, and 78.6%) between the identified support and resistance levels.
These Fibonacci levels are plotted as dotted lines, with customizable colors and labels for clarity.
The Fibonacci levels provide traders with potential retracement and extension levels, which are commonly used to predict price reversals, pullbacks, and continuation zones.
Customization:
Users can adjust the lookback period for swing high and swing low calculations to suit different trading styles and market conditions.
The script allows traders to enable or disable Fibonacci levels and choose whether or not to remove the background color of the labels for cleaner chart visuals.
Line width, highlight colors, and label colors are fully customizable for better integration with various chart styles and themes.
Real-Time Dashboard:
The indicator includes a real-time dashboard that calculates and displays the next potential target based on current market conditions, including potential retracement or continuation targets.
The dashboard dynamically updates based on trend direction and Fibonacci zones, giving traders valuable insights into potential price objectives.
How to Use:
This indicator is suitable for multiple timeframes, helping traders identify key levels in real-time as the market evolves.
By providing support and resistance zones along with Fibonacci retracement levels, this script offers a powerful combination of technical analysis tools for both novice and experienced traders.
The dynamic calculations help traders spot potential areas for entering or exiting trades, placing stop-loss levels, and identifying profit-taking zones.
Ideal for:
Traders who want to use support and resistance levels for trade planning.
Fibonacci enthusiasts looking for automated level plotting.
Anyone seeking to identify key price levels in real-time across different timeframes.
Script Author:
Reza – Bringing you dynamic, real-time support, resistance, and Fibonacci level plotting for more effective trading decisions.
Candle Fibs [QuantVue]The Candles Fib indicator is designed to help traders find potential levels of support and resistance based on ATR and Fibs.
How the Indicator Works
Identification of Large Candles:
🔹The indicator begins by identifying "large candles" based on their size relative to the Average True Range (ATR).
🔹 ATR (Average True Range) : ATR is a technical analysis indicator that measures market volatility by averaging the true range over a specified period, default 10 periods. The true range is the greatest of the following:
The difference between the current high and current low.
The difference between the previous close and the current high.
The difference between the previous close and the current low.
🔹In this script, a candle is considered "large" if its true range (the difference between the high and low) is at least twice the ATR.
Calculation of Fibonacci Levels:
🔹Once a large candle is identified, the indicator calculates key Fibonacci retracement levels based on the size of the candle.
🔹 Fibonacci Retracement : Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. These levels are derived from the Fibonacci sequence, a series of numbers where each number is the sum of the two preceding ones, often found in nature and markets.
🔹The most commonly used Fibonacci retracement levels are 0.382, 0.50, 0.618, and 0.786. In this indicator, the 0.50 and 0.618 levels are used.
Dynamic Plotting and Management of Levels:
🔹The indicator plots these Fibonacci levels as horizontal lines on the chart automatically.
🔹These lines extend as new bars (candlesticks) are formed, allowing the trader to see how the market reacts to these levels in real-time.
Give this indicator a BOOST and COMMENT your thoughts below!
We hope you enjoy.
Cheers!
Linear and Logarithmic Fibonacci Levels and FansIntroduction
The Fibonacci Retracement tool is a go-to for traders looking to spot potential support and resistance levels. By measuring the distance between swing highs and lows, you can apply Fibonacci ratios like 0.236, 0.382, and 0.618 to predict key market levels.
Traditionally, these levels are set by dividing this distance into equal parts—known as Linear Levels. A more refined approach, Logarithmic Levels, divides the distance into proportionally equal segments. Plus, this indicator now includes Fibonacci fans, adding another layer of analysis by projecting potential price levels using trendlines based on Fibonacci ratios.
This tool makes it easier to identify both Linear and Logarithmic levels while also leveraging Fibonacci fans for a more complete market view.
Applications
Logarithmic Levels and Fibonacci fans are ideal for volatile markets. In crypto, they’re especially effective for BTCUSDT (check out the wick from January 23, 2024). They also help spot accumulation and distribution patterns in high-volume altcoins like FETUSDT . In traditional markets, they’re useful for tracking stocks like TSLA and NVDA with extreme price swings, as well as indices in inflation-affected markets like XU100 , or recession-hit currency pairs like JPYUSD .
How to Use
This indicator is intuitive and similar to TradingView’s Fibonacci Tool. Select your reference levels (Level 1 and Level 0), then tweak the settings to customize your analysis, including adding Fibonacci fans for extra insights.
Why It’s Different
Unlike TradingView’s tool, which forces you to switch to a logarithmic scale (messing with other indicators and trend lines), this indicator lets you view both Linear and Logarithmic levels—and Fibonacci fans—without changing your chart’s scale. The original Fibonacci Code was derived from zekicanozkanli, modified and upgraded to plot fib fans as well.
Logarithmic and Linear Fibonacci LevelsIntroduction
Fibonacci levels are a technical analysis tool used by some traders to identify potential support and resistance levels. The principle for determining these levels is to take the distance between selected reference high and low points (swing high and swing low in general) as 1 unit and mark the ratios derived from the Fibonacci sequence, such as 0.236, 0.382, 0.618, etc., over this 1 unit. In the conventional method of level determination, the 1 unit is divided into equal distances within itself, and Fibonacci levels are determined based on these equal distances. These types of levels are called Linear Levels . A relatively less common method involves dividing the 1 unit into progressively smaller, more accurately described as proportionally equal, distances and determining Fibonacci levels based on these distances. These types are called Logarithmic Levels . The purpose of this indicator is to provide ease of use in determining both Linear and Logarithmic levels.
Where can it be Used?
Logarithmic Levels can be used in any instrument where volatility is high for any reason. Specifically in crypto, Logarithmic Levels work very well for BINANCE:BTCUSDT (to observe this, please study the wick from January 23, 2024). As another example, Logarithmic Levels can be used to identify potential accumulation and distribution schemes in altcoins with relatively high volume and market capitalization (refer to the chart provided above BINANCE:FETUSDT ). Additionally, when analyzing traditional markets, Logarithmic Levels can be beneficial for stocks with highly inflated or deflated prices (e.g., NASDAQ:TSLA , NASDAQ:NVDA ), in stock markets of countries battling high inflation (e.g., BIST:XU100 ), or in currency pairs of countries experiencing a recession (e.g., FX_IDC:JPYUSD ).
How can it be Used?
It is designed similarly to the Fibonacci Tool provided by Trading View to ensure users feel familiar with it. When you start the indicator, select the reference levels (Level 1 and Level 0), then click on the indicator settings to choose specific levels and customize them according to your preferences.
What Makes it Unique?
Indeed, in the Fibonacci Tool provided by Trading View, we can see both linear and logarithmic levels. However, to view logarithmic levels, it is necessary to switch the relevant instrument's Super Chart to a logarithmic scale. This causes the levels we want to remain 'linear' to also be displayed in their logarithmic form, potentially leading to errors in other indicators we use, incorrect functioning of trend lines drawn in linear scaling, and so on. Additionally, when the Super Chart is scaled logarithmically, it prevents the ability to set alerts for prices and trend lines. This indicator was created to avoid these problems without needing to change the chart's scaling method and to allow the simultaneous viewing of both Linear and Logarithmic levels.
FiboSequFiboSequ: Fibonacci Sequence Marking
Leonardo Fibonacci was an Italian mathematician who lived in the 12th century. His real name was Leonardo of Pisa, but he is commonly known as "Fibonacci." Fibonacci is famous for introducing the Hindu-Arabic numeral system to the Western world. This system is the basis of the modern decimal number system we use today.
Fibonacci Sequence
The Fibonacci sequence is a series of numbers that frequently appears in mathematics and nature. The first two numbers in the sequence are 0 and 1, and each subsequent number is the sum of the two preceding numbers.
The sequence is as follows:
0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, ...
Fibonacci Time Zones:
Fibonacci time zones are used to identify potential turning points in the market at specific time intervals. These time zones correspond to the Fibonacci sequence in terms of consecutive days or weeks.
The Fibonacci sequence has a wide range of applications in both mathematics and nature. Leonardo Fibonacci's work has had a significant impact on the development of modern mathematics and numeral systems. In financial markets, the Fibonacci sequence and ratios are frequently used by technical analysts to predict and analyze market movements.
Description:
Overview:
The FiboSequ indicator marks significant days on a price chart based on the Fibonacci sequence. This can help traders identify potential turning points or areas of interest in the market. The Fibonacci sequence is a series of numbers where each number is the sum of the two preceding ones, often found in nature and financial markets.
Fibonacci Sequence:
The sequence used in this indicator includes: 1, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, and 2584.
These numbers represent the days to be marked on the chart, highlighting possible significant market movements.
How It Works:
User Input:
Users can input the starting date (Year, Month, and Day) from which the Fibonacci sequence will begin to be calculated.
This allows flexibility and customization based on the trader's analysis needs.
Calculation:
The starting date is converted into a timestamp in seconds.
For each bar on the chart, the number of days since the starting date is calculated.
The indicator checks if the current day matches any of the Fibonacci sequence days, the previous day, or the next day.
In this indicator, Fibonacci numbers can be displayed on the chart as plus and minus 2 days. For example, for the 145th day, signals start to appear as 143,144 and 145. This is due to dates that sometimes coincide with weekends and public holidays.
Marking the Chart:
When a match is found, a label is placed above the bar indicating the day number from the Fibonacci sequence.
These labels are colored blue with white text for easy visibility.
Usage:
This indicator can be used on any timeframe and market to help identify potential areas where price might react.
It is especially useful for those who employ Fibonacci analysis in their trading strategy.
Example:
If the starting date is January 1, 2020, the indicator will mark significant Fibonacci days (e.g., 1, 3, 5, 8 days, etc.) on the chart from this date onward.
Community Guidelines Compliance:
This indicator adheres to TradingView's Pine Script community guidelines.
It provides customizable user inputs and does not violate any terms of use.
By using the FiboSequ indicator, traders can enhance their technical analysis by incorporating time-based Fibonacci levels, potentially leading to better market timing and decision-making.
Frequently Asked Questions (FAQ)
Q: What is the FiboSequ indicator?
A: The FiboSequ indicator is a technical analysis tool that marks significant days on a price chart based on the Fibonacci sequence. This indicator helps traders identify potential turning points or areas of interest in the market.
Q: What is the Fibonacci sequence and why is it important?
A: The Fibonacci sequence is a series of numbers where each number is the sum of the two preceding ones. The first two numbers are 0 and 1. This sequence frequently appears in nature and financial markets and is used in technical analysis to identify important support and resistance levels.
Q: How do the Fibonacci time zones in the indicator work?
A: Fibonacci time zones are used to identify potential market turning points at specific time intervals. The indicator calculates days based on the Fibonacci sequence (e.g., 1, 3, 5, 8 days, etc.) from the starting date and marks them on the chart.
Q: How can users set the starting date?
A: Users can input the starting date by specifying the year, month, and day. This sets the date from which the indicator begins its calculations, providing flexibility for user analysis.
Q: What do the labels in the indicator represent?
A: The labels mark specific days in the Fibonacci sequence. For example, 1st day, 3rd day, 5th day, etc. These labels are displayed in blue with white text for easy visibility.
Q: Which timeframes can I use the FiboSequ indicator on?
A: The FiboSequ indicator can be used on any timeframe. This includes daily, weekly, or monthly charts, as well as shorter timeframes.
Q: Which markets can the FiboSequ indicator be used in?
A: The FiboSequ indicator can be used in various financial markets, including stocks, forex, cryptocurrencies, commodities, and more.
Q: How can I achieve better market timing with the FiboSequ indicator?
A: The FiboSequ indicator helps identify potential market turning points using time-based Fibonacci levels. This can lead to better market timing and more informed trading decisions for traders.
-Please feel free to write your valuable comments and opinions. I attach importance to your valuable opinions so that I can improve myself.
[KVA] Custom Sessions Custom Sessions: Multi-Timeframe Analysis & Key Level Insights
Introduction:
Introducing " Custom Sessions," an innovative Pine Script indicator meticulously crafted to empower traders by offering an advanced level of analysis on various global trading sessions. This tool is designed not just to highlight trading sessions but to delve deeper into the nuances of market movements by analyzing candlestick behavior within those sessions, offering a nuanced view of market trends, liquidity, and potential turning points.
Core Features :
Session Customization : Tailor trading sessions to align with your strategy, focusing on the markets that matter most to you. Whether it's London, New York, Tokyo, Sydney, or Frankfurt, you have the control.
Enhanced Market Insight : Beyond session timing, gain a refined understanding of market dynamics through detailed candlestick analysis within each session, providing a granular view of price action.
Comprehensive Analysis Tools : Alongside session analysis, the indicator includes features like VWAP (Volume Weighted Average Price) and Fibonacci retracement levels, offering a multifaceted approach to market analysis across chosen timeframes.
VWAP : Gain insights into the market's trend and liquidity by viewing the Volume Weighted Average Price calculated for the custom timeframe.
Fibonacci Retracement Levels : Easily identify potential reversal points with automatically plotted Fibonacci levels at 0.236, 0.382, 0.5, 0.618, and 0.782for each candle
Real-Time Updates : As the market moves, so does " Custom Sessions," offering real-time insights that adapt to the unfolding market conditions.
Utilization Guide :
Configure Your Sessions : Begin by setting up the sessions that are most relevant to your trading approach, customizing their times as needed.
Select the Desired Timeframe : Input your preferred higher timeframe to analyze data that is most relevant to your trading strategy.
Dive into the Details : Use the detailed candlestick analysis within sessions to pinpoint potential entry and exit points, supported by VWAP and Fibonacci levels for deeper market insight.
Customize Your View : Adjust the visual aspects of the indicator, including session color coding and which elements to display, tailoring the tool to your preferences.
Acknowledgements :
A special thanks to Aurocks_AIF for their foundational work on "Sessions on Chart" . This project has been an invaluable resource, inspiring the development of " Custom Sessions" and pushing the boundaries of traditional session analysis.
Final Thoughts :
" Custom Sessions" is more than just an indicator; it's a comprehensive analysis tool that brings a new depth to the understanding of market sessions. By offering detailed insights into the behavior of candles within these sessions, along with essential analysis features, this indicator is a must-have for traders seeking to enhance their technical analysis arsenal.
Whether you're a day trader looking to capture short-term movements or a long-term investor seeking broader market insights, this indicator offers valuable data visualization to enhance your trading decisions. By integrating highs, lows, VWAP, and Fibonacci levels into your analysis, you gain a comprehensive view of market behavior across different timeframes and sessions
Zigzag Fibonacci Golden Zone [UAlgo]🔶 Description:
The "Zigzag Fibonacci Golden Zone" aims to identify potential trend pullback points by utilizing a combination of zigzag patterns and Fibonacci "Golden Zone (0.618 - 0.786)" retracement levels. It plots zigzag lines on the price chart, highlighting significant swing highs and swing lows, and overlays Fibonacci retracement levels to indicate potential support and resistance zones. Additionally, it provides options to display buy and sell signals based on specific criteria.
🔶 Key Features:
Zigzag Lines: The indicator plots zigzag lines on the price chart, marking significant swing highs and swing lows. These lines help traders visualize the direction and magnitude of price swings.
Fibonacci Retracement Levels: The indicator overlays Fibonacci retracement levels on the chart, indicating potential support and resistance levels. These levels are derived from the Fibonacci sequence and are commonly used by traders to identify reversal points.
Fibonacci occurs again when a new zigzag low or high is created :
Before new zigzag low pivot appears,
After new Zigzag low pivot appears,
As you see new fibonacci created after new pivot found also price bounced from retracement zone.
Customization Options: Traders can customize various parameters of the indicator, such as the length of the zigzag pattern, color preferences for different elements, and visibility of price labels and buy/sell signals.
Buy/Sell Signals: The indicator generates buy and sell signals based on predefined criteria, such as price movements relative to Fibonacci levels and other market conditions. These signals can help traders identify potential entry and exit points in the market.
Example :
Disclaimer :
Please note that trading involves significant risk, and past performance is not indicative of future results. The "Zigzag Fibonacci Golden Zone" indicator is provided for informational purposes only and should not be considered financial advice. Traders should conduct their own research and analysis before making any investment decisions. Additionally, the indicator's performance may vary depending on market conditions and other factors. Users are encouraged to use the indicator as part of a comprehensive trading strategy and to exercise caution when trading in the financial markets.
Automatic Fibonacci Retracement Golden Pocket (GP)Main info
This script automatically draws you the Fibonacci retracement level called golden pocket from the latest detected pivot point to the actual price. This level is very popular among traders because the price tends to reverse on this level pretty often. You should use this on higher timeframes 15m+.
It is good to keep in mind that this level alone is not enough, you should still have another level there to enter the trade, for example golden pocket in combination with a demand zone is pretty solid. :)
Settings
The length for pivot point calculation is available in the script settings.
You can enable inverted golden pocket (for shorts)
You can hide/show the pivot point labels
If you want any updates, just feel free to write me :)
