Fibonacci Retracement (Tita)

⚙️ Key Features
Core Functionality
Automatic Swing Detection: Uses ZigZag indicator to identify significant highs and lows

Multiple Fibonacci Modes: Supports both Retracement levels and Timezone projections

Customizable Timeframe: Analyze Fibonacci levels on different timeframes than the current chart

Customization Options
11 Fibonacci Levels: From 0% to 300% with individual color and visibility controls

Flexible Display: Customize line thickness, style, and colors

Label Options: Choose position (Left/Right/Both/Auto) and visibility for both Fibonacci percentages and price levels

ZigZag Visualization: Option to show/hide the underlying ZigZag line

📊 How It Works
Swing Detection: The ZigZag algorithm identifies significant swing highs and lows based on depth, deviation, and backstep parameters

Level Calculation: Draws Fibonacci levels between the last two significant ZigZag points

Dynamic Updates: Automatically updates when new swings are detected and cleans up previous drawings

Visual Enhancement: Uses background coloring to indicate market direction (bullish/bearish)

🎨 Visual Elements
Colored Horizontal Lines: Each Fibonacci level has customizable colors

Percentage Labels: Shows retracement percentages (23.6%, 38.2%, etc.)

Price Labels: Displays exact price levels

ZigZag Connection Line: Visual connection between swing points

Direction-based Background: Subtle background tint indicating trend direction

💡 Trading Applications
Identify potential entry points at key Fibonacci levels

Set profit targets using extension levels (1.618, 2.0, 3.0, etc.)

Determine stop-loss placement below/above Fibonacci support/resistance

Analyze retracement depth for trend strength assessment