OPEN-SOURCE SCRIPT
Fibonacci Pivot Proportions
Fibonacci Pivot Proportions Indicator
The Fibonacci Pivot Proportions indicator is designed to identify and mark Fibonacci ratio levels between pivot high and pivot low points on the chart. It calculates the price range between two consecutive pivot points (high to low or vice versa) and applies common Fibonacci retracement and extension levels:
23.6%, 38.2%, 50%, 61.8%, 78.6%, 100%, 123.6%, 161.8%, 261.8%
Features:
Detects pivot highs and lows automatically.
Draws thin lines representing Fibonacci levels between pivot points.
Displays percentage labels at each Fibonacci level.
Allows customization of pivot length, line colors, label colors, and text size.
Assigns different colors to each Fibonacci ratio for better visualization.
This indicator helps traders analyze price movements and identify potential support and resistance levels based on Fibonacci proportions.
The Fibonacci Pivot Proportions indicator is designed to identify and mark Fibonacci ratio levels between pivot high and pivot low points on the chart. It calculates the price range between two consecutive pivot points (high to low or vice versa) and applies common Fibonacci retracement and extension levels:
23.6%, 38.2%, 50%, 61.8%, 78.6%, 100%, 123.6%, 161.8%, 261.8%
Features:
Detects pivot highs and lows automatically.
Draws thin lines representing Fibonacci levels between pivot points.
Displays percentage labels at each Fibonacci level.
Allows customization of pivot length, line colors, label colors, and text size.
Assigns different colors to each Fibonacci ratio for better visualization.
This indicator helps traders analyze price movements and identify potential support and resistance levels based on Fibonacci proportions.
Skrip open-source
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