evhar002

Auto Fibonacci Retracament Levels by evhar002

This indicator/tool (Auto Fibo) draws Fibonacci Retracement Levels automatically on chart.
The algorithm of the Indicator Plots the extreme points and puts the retracement levels in order by itself with 100% sensitivity.
The key point is that to arrange the length of the "Days Back" to arrange the correct extreme points.
Like the other auto plotting tools, the levels can change when the time frame of the chart changes, in contrast with manually drawn Fibo levels.

In technical analysis , a Fibonacci retracement is created by taking two extreme points (usually a major peak and trough) on a stock chart and dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.

Description copied from https://tr.tradingview.com/u/KIVANCfr376... and updated according to this script content.

Here's the link to a complete list of all my published indicators:
https://www.tradingview.com/u/evhar002/#...
Notas de prensa: Day parameter default and max values updated. (Default value 10 days, max value 360 days)
Notas de prensa: 0 and 100 plot label's updated according to starting of fibo. Fibonacci starting point is 100%, end point is 0%.
Notas de prensa: New retracament levels add as optional.
-23.6
-38.2
-61.8
-65.8
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What does the blue color indicate if you don’t mind? Thank you sir
+1 Responder
evhar002 Awes1989
@Awes1989, Right border is last bar, left border is equal to "Days back" parameter value which is the starting of script. For ex: Above screen has 10 Days back so, last bar is 21/09/18 15:00 (this bar still not completed so exclude this and include previous bar as right border 21/09/18 11:00), 21/09/18 15:00 - 10Days = 11/09/18 15:00 which is left border of blue are.
Auto fibo is calculate highest and lowest value between left border and right border.
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