OPEN-SOURCE SCRIPT
Auto Fib Retracement [victhoreb]
Auto Fib Retracement is an automated Fibonacci retracement tool for TradingView that dynamically identifies key swing points and plots Fibonacci levels to help traders visualize potential support and resistance areas. Using a Zigzag algorithm, the indicator detects recent pivot highs and lows and calculates retracement levels based on these significant price swings. Key features include:
- Dynamic Pivot Detection: Automatically identifies recent swing highs and lows using configurable lookback periods, ensuring the Fibonacci levels adjust as the market evolves.
- Customizable Fibonacci Levels: Users can tailor the Fibonacci retracement levels (0, 0.214, 0.382, 0.5, 0.618, 0.786,) along with individual colors, offering flexibility to match various trading strategies.
- Zigzag Visualization: Optionally displays a Zigzag line that connects the detected pivot points, providing a clear visual representation of the price swing dynamics.
- Adjustable Line Extension: Retracement lines can be extended for a specified number of bars.
- Repainting Option: Includes an option to repaint the Zigzag, ensuring that the most current price action is reflected in the indicator’s output.
- The Auto Fibonacci Retracement itself DOES NOT REPAINT : )
This indicator streamlines the analysis process by automatically drawing Fibonacci retracement levels, allowing traders to quickly identify potential reversal areas and make more informed trading decisions.
- Dynamic Pivot Detection: Automatically identifies recent swing highs and lows using configurable lookback periods, ensuring the Fibonacci levels adjust as the market evolves.
- Customizable Fibonacci Levels: Users can tailor the Fibonacci retracement levels (0, 0.214, 0.382, 0.5, 0.618, 0.786,) along with individual colors, offering flexibility to match various trading strategies.
- Zigzag Visualization: Optionally displays a Zigzag line that connects the detected pivot points, providing a clear visual representation of the price swing dynamics.
- Adjustable Line Extension: Retracement lines can be extended for a specified number of bars.
- Repainting Option: Includes an option to repaint the Zigzag, ensuring that the most current price action is reflected in the indicator’s output.
- The Auto Fibonacci Retracement itself DOES NOT REPAINT : )
This indicator streamlines the analysis process by automatically drawing Fibonacci retracement levels, allowing traders to quickly identify potential reversal areas and make more informed trading decisions.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.