RyuFib

9 nov 2019

🔰 Auto Fibonacci Retracement

New look, features, and improvements from the previous auto Fibonacci indicator. Now looks like the Fib Retracement Tool that you can draw and with all of it's settings options. This indicator will automatically draw all the Fibonacci levels onto the chart and update for each timeframe and adjust saving you time. By default the length is long so it will show the major levels, however, can be adjusted to any custom length or shorter length to select various retracements. An improvement to the indicator in the update is that now it will auto update and adjust to fit the history length. The previous custom timeframe option has been removed, since you can select any length for retracement anyways and is not needed. Lines that go further back in history that are not shown in the chart view are not loaded to prevent loading lines not in view, this done by TradingView. So if the length is long the lines do not appear unless you scroll back further in history to the start point in time of the retracement history. To prevent this, by default the lines are extended to the left so you don't have to scroll back for them to show, but you can still turn off the extend if you choose. Another update improvement is that it will now auto detect and adjust the Fibonacci retracement type, i.e, from high to low or low to high with the appropriate levels, with the option to reverse like the tool gives. Now also shows the trend line which shows the points used from the retracement from the high and low, which can also be turned on/off. Additionally, another improvement now the Fibonacci price levels are shown along with the levels.

This indicator shows all of the common default Fibonacci levels as well as my own added fib levels for the default levels, with the default extension levels, and added custom levels. By default there 9 of the common and my added Fibonacci levels displayed, plus the 2 for the high and low, so 11 levels, plus default 3 extension levels and 3 reverse extension levels, and 18 additional custom Fibonacci levels that are hidden and can be turned on and adjusted. So there are 35 total Fibonacci levels with the levels and price labels. All of the Fibonacci levels can be customized and adjusted in the settings with an input and can be turned on/off to be shown or hidden.

You don't need to do anything, simply load the indicator and it will auto adjust the appropriate length if needed, retracement type, and display the Fibonacci levels for each timeframe and update. However, you can still change the custom Fibonacci settings and style settings as you choose.

📌Note: New update and redesign updated to new version pine script v4. This is published as a new indicator since it is now completely different redesigned with updates and improvements, and since the description was too long to fit in an update. This older Auto Fibonacci indicator is no longer used and updated by this one.

📌The following are the custom settings options of the user interface:

📌For the plots display options:

• Can show/hide all Fibonacci levels with a single master control switch
  
• Can turn on/off the default Fibonacci extension levels
  
• Can turn on/off the default Fibonacci reverse extension levels
  
• Can show/hide all Fibonacci levels labels
  
• Can show/hide all Fibonacci price labels
  
• Can show/hide the Fibonacci trend line
  

📌Fibonacci retracement settings:

• Can adjust each Fibonacci level custom input
  
• Reverse option to reverse the levels retracement type and levels
  
• Can select the Fibonacci length max bars back, which will also auto adjust if needed if too long
  
• Option to select the candle type for the retracement to use wick or candle close, default uses wick
  

📌Fibonacci custom style settings:

• The style settings updates for all 35 Fibonacci levels so you don't have to do individually
  
• Can adjust all of the colors to your preference, default red since works for both black/white backgrounds
  
• Adjusting the color will adjust all of the colors for the levels line, levels label, and price label
  
• Can adjust the lines to solid, dashed, or dotted as preferred
  
• Can extend lines to the left, right, or both, or turn off, default extended left
  
• Can change the levels labels to display as levels or percents, i.e, 0.618 or 61.8%
  
• Can adjust the width of the Fibonacci lines
  
• Can adjust the size of the Fibonacci levels and price text labels
  
• Can adjust the offset to shift the levels and price text labels
  

📌Example on Bitcoin currently on the 1h showning Fibonacci levels being respected.


📌Another example with BTC on the 15m showing price ping pong between Fibonacci levels; and with different settings with white color and levels shown as percents option.


📌Here is Bitcoin again on the 1D timeframe with just default settings. Based on the history the indicator automatically selected the appropriate length and shows the high and low point and drew the levels. We can see the major Fibonacci levels being respected and with the extension levels can see the further future potential resistances.

10 sept 2020

Notas de prensa

TradingView updated their limits so this script would get a study error exceeding memory limits and sometimes not work on some charts and timeframe. Updated to fix and now working.