Fib Retracement Algo Description: This indicator has a series of steps that it takes before it finds possible retracement areas depending on the trend. The indicator itself is really simple to use.
How does it work? This indicator uses the Hurst Exponent to verify whether or not the market is trending or not. It then determines the trend and then decides which retracement is possible.
If the hurst is below 0.5, then the retracement lines won't appear; they only appear in a trending market above 0.5 if you don't see the lines.
How Traders can use this indicator Traders who trade bounces or retracements can use this indicator and enjoy the verification process that goes behind finding these retracements. This indicator can also be used to identify possible gaps on some occasions.