Price action: Fibonacci + Support/Resistant + Trendline

2022년 5월 27일

Price action: Fibonacci + Support/Resistant + Trendline
In this indicator, I find entry long/Short by combining: Fibonacci + Support/Resistant + Trendline (One of Advanced Price action Analysis).





How it works:
1. Find Impulse wave:
To findind Impulse wave, It uses Pivot High/Low to find Impulse wave. In case find entry Long, If having Pivot High higher Pivot High before, it will draw an Impulse wave.

2. Find entry at Fibonacci levels:
Draw Fibonacci fibonacci retracement from Pivot Low to Pivot High. A Fibonacci retracement forecast is created by taking two extreme points on a chart and dividing the vertical distance by important Fibonacci ratios. 0% is considered to be the start of the retracement, while 100% is a complete reversal to the original price before the move. Horizontal lines are drawn in the chart for these price levels to provide support and resistance levels. Common levels are 23.6%, 38.2%, 50%, and 61.8%

3. Find entry at Support/Resistant Zone:
Support/Resistant Zone drawed from Pivot High before, which price just breaken and return to retest.

4. Find entry at Trendline:
Trendline drawed from Pivot High/Low before, which price just breaken and return to retest.

This is study version. Having strategy version to backtesting.

2022년 6월 6일

릴리즈 노트

Update: Label at Fibonacci levels.

2022년 8월 14일

릴리즈 노트

Update:
1. Width Fibonacco levels, Support/Resistant levels and trendlines.
2. Color fibonacci labels.