Fibonacci Input Preset Retracer. This for highlighting your favorite Fibonacci retracement levels. Before using this indicator you should already have knowledge of what Fibonacci is & how to use it. These are levels where it said to be that the market may or may not reverse at. This is more used for anticipation, confluence & should be used in combination with...
Shows Fibonacci waves for a long range and Fibonacci lines for a short range.
For me it helps to identify key levels or confluence on the macro and micro range.
In the example above you can clearly see that the macro waves are in a down-trend while the micro lines are in a up-trend..
Also the price has been rejected at the 78.6 fib mirco line but found support...
Updated version of
Allows users to receive alerts when price reach a new Fibonacci level.
By default, the Fibonacci levels extend upwards. This can be changed to extend downwards by unchecking 'Extend Upwards' option.
Usage:
- Perform a Fib extension analysis and determine a high value, low value and direction of extension
- Add indicator and specify these...
This script allows a user to get alerts when the price goes within a certain percentage threshold of a Fibonacci level.
If connected with AutoView, it could allow an easy way to do automated range trading between Fibonacci levels. Although I plan to do this myself, I haven't used it for this purpose yet so please be cautious and verify with live results...
Library "AutoFiboRetrace"
TODO: add library description here
fun(x) TODO: add function description here
Parameters:
x : TODO: add parameter x description here
Returns: TODO: add what function returns
This script draws a High-To-Low or Low-To-High Fibonacci Retrace over the chart, based on which of those two happens in the given time period (Default is 144 Candles).
Updates from older versions:
- Paints 0.5, 0.618, 0.65 and spaces in between, giving good hindsight to the trend, and ideas of where strong support/resistance may lie.
- Silver Paint Strip = 0.50...
Personally I don't like the trouble of drawing fibonacci retracement and extension tolls time and time again, not only human eyes and hands are not as accurate as a computer, but also, you would sit and think : "Hey, which one of these candles is the start of the wave" time and time again.
That is one of the issues, some times you may want to drop more than one...
