[JRL] MM Fibonacci

This is a new indicator that uses Murrey Math formulas to find the tops and bottoms, then uses those tops and bottoms to draw long-term fibonacci retracement levels. The genius of Murrey was his geometric formulas to calculate the right place to start plotting the lines, but I think the fibonacci ratios typically seem more accurate than the MM line ratios. So in this script I attempt to take the best of each and combine them into a new, superior indicator.

Let me know in the comments if you find this useful. Cheers!
Catatan Rilis: Added input option for label offset/positioning
Catatan Rilis: Error correction
Skrip open-source

Sejalan dengan semangat TradingView, penulis skrip ini telah mempublikasikannya secara open-source, sehingga para trader dapat memahami dan memverifikasinya. Salut untuk sang penulis! Anda dapat menggunakannya secara gratis, tetapi penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk dapat menggunakannya didalam sebuah chart.

Inggin menggunakan skrip ini pada chart?
Premium Indicators: https://www.patreon.com/bitnalysis
Twitter: @BitnalysisHQ


500 koin
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100 koin
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JRL_6 admin
@admin, Thank you!
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What is the best time frame ?and what type of trading is useful?
+28 Jawab
JRL_6 soopee
@soopee, this should work for any timeframe, but it is only a tool, not a complete trading system. Generally, fibonacci and murrey math are used to help find potential support and resistance in price action trading
+11 Jawab
Thanks for sharing!
Could you please explain what is the Frame Size and the Frame Multiplier?
+9 Jawab
JRL_6 GoodFellowToo
@GoodFellowToo, thanks for your question. These settings relate to Murrey's geometry. The Frame Size refers to the Murrey Math square size. According to murrey, this should always be a multiple of 4. Traditionally, the options for this value are 4, 8, 16, 32, 64, 128, 256 or 512, with 64 being the most common setting. Personally, I usualy use 64, but will sometimes use a higher frame size such as 128 or 256 when I'm on a timeframe less than 1H. The Frame Multiplier determines the number of bars are in the lookback period when the system determines the high and low extremes of the MM lines. The traditional setting for the multiplier is 1.5.
+7 Jawab
@JRL_6, Thank you for explaining. Much appreciated!
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This publication is now featured in our Editors' Picks. In the name of all TradingView traders, thank you for your valuable contribution to the TradingView community, and congrats!
+6 Jawab
JRL_6 PineCoders
@PineCoders, Thanks!