ZigZag Multi Time Frame with Fibonacci Retracement

Hello Traders,

This is ZigZag Multi Time Frame with Fibonacci Retracement script. It calculates the ZigZag using Higher Time Frame, draw Fibonacci Retracement lines and put labels accordingly. I already published Zigzag with Fibonacci Levels script but this one is Multi Time Frame and I didn't want to change/update it.

You can set ZigZag Period and Resolution as you wish. Zigzag is calculated using higher time frames (ex: 1day) so you better choose small numbers as Zigzag Period, such 2, 3 etc. you should choose higher time frame wisely, meaning that you should not set 1Day while chart resolution is 1min ;)

It draws Fibonacci levels between 0%-100% and If the price goes higher/lower than 100% level than the script draws Fibonacci Levels accordingly. This means it draws Fibonacci levels until this levels get higher/lower than the price.

"Show Zig Zag" is not enabled by default, you can enable it if you want to see ZigZag as well.

You have options to set Text Color, Line Color, Zigzag Up Color and Zigzag Down Color.

You can set the location of the Fibonnaci Levels -> Left or Right

You also have option to enable/disable following Fibonnaci Levels:
---> 0.236
---> 0.382
---> 0.500
---> 0.618
---> 0.786

I added "Colorful Fibonacci Levels" for fun. if you enable it then Fibonacci line colors will be different randomly on each move, see it for yourself :)

Some Screenshots:

if you enable "Show Zigzag Option":

how the script adjust levels automatically:

if you set Label Location as "Right":

if you enable "Colorful Fibonacci Levels" then Line colors will be changed on each move randomly ;)


오픈 소스 스크립트

진정한 TradingView의 정신에 따라, 이 스크립트의 작성자는 스크립트를 오픈소스로 게시했기에 거래자들이 이해하고 확인할 수 있습니다. 작가님께 건배! 스크립트를 무료로 사용할 수 있지만, 게시물에서 이 코드를 재사용하는 것은 하우스룰을 따릅니다. 당신은 스크립트를 차트에 사용하기 위해 그것을 즐겨찾기 할 수 있습니다.

차트에 이 스크립트를 사용하시겠습니까?


since you exposed my best indicators, i will share with you my 14yrs strategy using fibo zigzag. maybe you will be able to convert it to pine. Great work. it would be great to see what u can do with Gann on zigzag . nice one
+27 응답
@mecmen, I will like to know also.
+4 응답
@mecmen, Can you shar the strategy with me too?
+3 응답
@mecmen, Please share with me as well
@mecmen, same here, plz share with me also. thank you very much.
@mecmen, THANKS FOR UR GREAT WORK .... can u plz share ur strategy plz
@mecmen, please share with me. Thank you
thanks for sharing, i enjoy your zigzag series very much :D
+4 응답
LonesomeTheBlue blackcat1402
@blackcat1402, you are welcome ;)