OPEN-SOURCE SCRIPT
Fibonacci Confluence Toolkit [LuxAlgo]

The Fibonacci Confluence Toolkit is a technical analysis tool designed to help traders identify potential price reversal zones by combining key market signals and patterns. It highlights areas of interest where significant price action or reactions are anticipated, automatically applies Fibonacci retracement levels to outline potential pullback zones, and detects engulfing candle patterns.
Its unique strength lies in its reliance solely on price patterns, eliminating the need for user-defined inputs, ensuring a robust and objective analysis of market dynamics.
🔶 USAGE

The script begins by detecting CHoCH (Change of Character) points—key indicators of shifts in market direction. This script integrates the principles of pure price action as applied in Pure-Price-Action-Structures, where further details on the detection process can be found.

The detected CHoCH points serve as the foundation for defining an Area of Interest (AOI), a zone where significant price action or reactions are anticipated.

As new swing highs or lows emerge within the AOI, the tool automatically applies Fibonacci retracement levels to outline potential retracement zones. This setup enables traders to identify areas where price pullbacks may occur, offering actionable insights into potential entries or reversals.

Additionally, the toolkit highlights engulfing candle patterns within these zones, further refining entry points and enhancing confluence for better-informed trading decisions based on real-time trend dynamics and price behavior.

🔶 SETTINGS
🔹 Market Patterns
🔹 Retracement Levels
🔹 Swing Levels & Engulfing Patterns
🔶 RELATED SCRIPTS
Its unique strength lies in its reliance solely on price patterns, eliminating the need for user-defined inputs, ensuring a robust and objective analysis of market dynamics.
🔶 USAGE
The script begins by detecting CHoCH (Change of Character) points—key indicators of shifts in market direction. This script integrates the principles of pure price action as applied in Pure-Price-Action-Structures, where further details on the detection process can be found.
The detected CHoCH points serve as the foundation for defining an Area of Interest (AOI), a zone where significant price action or reactions are anticipated.
As new swing highs or lows emerge within the AOI, the tool automatically applies Fibonacci retracement levels to outline potential retracement zones. This setup enables traders to identify areas where price pullbacks may occur, offering actionable insights into potential entries or reversals.
Additionally, the toolkit highlights engulfing candle patterns within these zones, further refining entry points and enhancing confluence for better-informed trading decisions based on real-time trend dynamics and price behavior.
🔶 SETTINGS
🔹 Market Patterns
- Bullish Structures: Enable or disable all bullish components of the indicator.
- Bearish Structures: Enable or disable all bearish components of the indicator.
- Highlight Area of Interest: Toggle the option to highlight the Areas of Interest (enabled or disabled).
- CHoCH Line: Choose the line style for the CHoCH (Solid, Dashed, or Dotted).
- Width: Adjust the width of the CHoCH line.
🔹 Retracement Levels
- Choose which Fibonacci retracement levels to display (e.g., 0, 0.236, 0.382, etc.).
🔹 Swing Levels & Engulfing Patterns
- Swing Levels: Select how swing levels are marked (symbols like ◉, △▽, or H/L).
- Engulfing Candle Patterns: Choose which engulfing candle patterns to detect (All, Structure-Based, or Disabled).
🔶 RELATED SCRIPTS
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.