Auto Fibonacci Golden Zone by Jaehee

📌 AUTO FIBONACCI GOLDEN ZONE — Auto Swing Detection with Key Level Highlights

WHAT THIS DOES
• Automatically detects the latest swing high and swing low within your chosen lookback range.
• Plots Fibonacci retracement levels: 1.000, 0.786, 0.618, 0.500, 0.382, 0.236, 0.000.
• Highlights 0.618 (“golden pocket”) and 0.500 as high-interest zones.
• Displays ratio + price labels to the right for quick reference without moving the cursor.

HOW IT WORKS
• Scans the last N bars (default 150) to locate the highest high and lowest low.
• Determines swing direction automatically: if the low forms first → up-leg, if the high forms first → down-leg.
• Calculates retracement prices and plots each level with a thin core line plus two glow layers (opacity adjustable).
• Clears and redraws lines and labels whenever a new swing is found — keeping the chart clean.

WHY THIS SETUP
• Saves time compared to manually anchoring Fib tools for each new swing.
• Highlights the golden pocket (0.618) and midpoint (0.500) — zones many traders watch for pullbacks or reactions.
• Positions labels to the right so they never overlap active candles.

HOW IT’S DIFFERENT FROM THE STANDARD FIB TOOL
• Automatic swing detection — no manual point selection.
• Built-in highlight logic for key levels.
• Clean redraw to prevent leftover lines or labels.
• Right-side label offset for readability in volatile price zones.

HOW TO READ IT (CONTEXT ONLY)
• In an up-leg, the 0.382–0.618 zone is often monitored for pullback reactions; 0.500 can act as a midpoint marker.
• In a down-leg, retracements into the 0.382–0.618 zone can be watched for selling pressure.
• Always confirm with structure, volume, and momentum tools — this indicator is not a standalone trade signal.

INPUTS
• Lookback Bars — swing detection range.
• Fib Line Color / Highlight Line Color — control standard vs. key level colors.
• Label Offset Bars — shift labels away from current price.
• Glow 1 & Glow 2 Opacity — adjust background glow visibility.

DESIGN NOTES
• Thin lines for precision, glow layers for visibility without overpowering candles.
• Overlay display — no extra panel needed.
• All elements clear and redraw automatically to avoid clutter.

LIMITATIONS & BEST PRACTICES
• Levels update whenever a new swing forms within the lookback range — historical lines are not fixed.
• Fib retracements are reference zones only, not guarantees of reversal.
• Best used with confluence factors like S/R flips, market structure, and volume analysis.
• No alerts, no performance claims — purely a market context tool.

DEFAULTS & SCOPE
• Works on all OHLCV instruments and timeframes.
• No repainting after swing confirmation.

AUTHOR’S NOTE FOR REVIEW
This is not a repackaged Fib tool. It combines automatic swing detection, golden pocket highlighting, and a clean redraw process to make retracement analysis faster and clearer. It provides context only, with no predictive or performance claims.