This indicator/tool (Auto Fibo) draws Fibonacci Retracement Levels automatically on chart. The algorithm of the Indicator Plots the extreme points and puts the retracement levels in order by itself with 100% sensitivity. The key point is that to arrange the length of the "Days Back" to arrange the correct extreme points. Like the other auto plotting tools, the levels can change when the time frame of the chart changes, in contrast with manually drawn Fibo levels.
In technical analysis , a Fibonacci retracement is created by taking two extreme points (usually a major peak and trough) on a stock chart and dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.
What does the blue color indicate if you don’t mind? Thank you sir
evhar002
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@Awes1989, Right border is last bar, left border is equal to "Days back" parameter value which is the starting of script. For ex: Above screen has 10 Days back so, last bar is 21/09/18 15:00 (this bar still not completed so exclude this and include previous bar as right border 21/09/18 11:00), 21/09/18 15:00 - 10Days = 11/09/18 15:00 which is left border of blue are.
Auto fibo is calculate highest and lowest value between left border and right border.