Simple Fibonacci Retracement is a free and easy to use script to plot Fibonacci levels, for any assets like Stocks, Forex, Commodities , Cryptocurrencies etc. on any time frame chart.
Fibonacci Levels can be plotted using Lookback or manual Price input from the settings.
1. Lookback type - Candles
Determines the High and Low price of the user input number of Candles back (100 default) and plots Fibonacci Levels based on the calculated High and Low for the number of candles in the past from the current candle. The levels stay intact on any time frame as long as no new Highs or Lows are formed.
2. Lookback type - Days
Determines the High and Low price of the user input number of Days back (100 default) and plots Fibonacci Levels based on the calculated High and Low for the number of days in the past from the day of the current bar. The levels stay intact on any time frame as long as no new Highs or Lows are formed.
3. Manual Price Input
Plots Fibonacci Levels based on the user specified High and Low Price in the settings input fields. The levels stay intact on any time frame irrespective of new Highs or Lows being formed. Manual Price Input will enable the trader to keep the Levels intact and visually see the higher Fibonacci Retracement levels, when the price crosses beyond 100% retracement. On the other two lookback types, the Fibonacci levels are displayed only upto 100% retracement.
The Fibonacci levels can also be reversed by enabling 'Reverse' option from the settings.
릴리즈 노트
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Code updated
릴리즈 노트
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Added
1. Line Style, Width and Transparency options for Fib Lines/Labels. 2. Option to show 0.886 and 1.113 Fib levels
릴리즈 노트
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Added
1. New Pine color input option from settings 2. Fib level label for current close price
I tried to modify it in order to set sessions (1700-1700) for how it should operate, but as a rookie in pine script it seems I stumble across an issue that says "the study references too many candles in history"
I added the following:
FPeriod = timeframe.isintraday and Foption=="2. Days"? time("1440", "1700-1700"):
Any suggestion for how I could avoid the error message?
Thanks in advance :)
TradeChartist
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@EivindBRisa, Did you manage to do this? I have not played around with sessions and timestamps yet with the script.
EivindBRisa
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@TradeChartist, No.. not in a successful way... but it would be interesting to try it out as some commodities has some correlation with fib and session!
tume28
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Would you have another indicator with the static levels, like S1 - S5 and R1 - R5. The market kept moving the 0 level, I didn't have target level while it was moving. I hope this makes since. I ask because of how well this indicator works on the charts. Thanks!!!
TradeChartist
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@tume28, I think TV's built in Pivot Points Standard does it elegantly.
saidispecter
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this indicator really helped me as a newbie trader myself, thank you so much! 🙏