Fibonacci Zones and Rejections

This tool combines swing structure, Fibonacci retracements and candle-wick rejection logic to highlight high-probability reversal or continuation zones.

What it does

Tracks market structure automatically

Detects swing highs and swing lows based on a user-defined Structure Period.

Marks bullish shifts in structure and bearish shifts with CHoCH labels and Break of Structure (BoS) lines.

Optionally draws a dotted swing trend line between the active swing high and swing low and can show price labels at those swing points.

Draws dynamic Fibonacci retracements on the latest swing

Automatically anchors a Fibonacci retracement between the current swing high and swing low.

Lets you enable/disable individual Fibonacci levels and customize their values, colors and line width.

Can extend Fib levels forward to the latest bar and optionally keep previous Fib structures on the chart for context.

Optionally fills the “Golden Zone” (by default the first two levels, e.g. 0.50 and 0.618) so the core pullback area is visually obvious.

Defines an OTE / “Gold Zone” band from the active Fib levels

Uses the first two Fib lines (by default 0.50 and 0.618 or set another zone such as 61.8% to 78.6%) to form a live “Optimal Trade Entry” band.

Continuously updates this band as new structure forms and swings develop.

Detects rejection candles inside the Fib OTE band

Breaks each candle into upper wick, lower wick, body and total range.

A bullish rejection is a candle where:

Price trades into the OTE band,

The lower wick is a large portion of the bar’s range, and

The body is not tiny (minimum body-to-range ratio is configurable).

A bearish rejection is the mirror condition using the upper wick.

Only candles whose range overlaps the OTE band are considered; this filters for true reactions to the Fib zone.

Plots clear signals and alerts

Bullish OTE rejection is plotted as a large cross at the low of the candle.

Bearish OTE rejection is plotted as a large cross at the high of the candle.

Built-in alertcondition calls allow you to set alerts for:

Bullish OTE Rejection

Bearish OTE Rejection

Optional “debug” markers can show all raw rejection candles and all bars that sit inside the OTE band, to help you understand how the logic behaves.

Use cases

Identify pullback entries into the desired Fib zone after a clear structural move.

Confirm reversals or continuations using wick-based rejection inside a pre-defined Fib discount/premium zone.

Combine with your own higher-timeframe bias or ICT / SMC tools to refine entry timing around key levels.