OPEN-SOURCE SCRIPT
Fibonacci Retracement Channel [FEELS]
Stop dragging fib tools around your chart. Fib Channel plots a complete, classic Fibonacci retracement on every major swing, anchored wick to wick, right where you would draw it by hand. It shades the golden pocket, projects extension targets and links the whole history into one flowing channel.
You always know which level the market is trading against right now, and where price goes if that level holds. Instead of a single fib on the latest swing, or a pile of overlapping grids, you read the entire trend as a chain of retracements: where price respected the 0.618, where the golden pocket launched the next leg, and where a retracement failed and the trend flipped.
HOW IT WORKS
- A swing engine based on confirmed pivots finds every move larger than "Min swing size". The threshold is set in ATR, so it adapts to any symbol and timeframe.
- "Merge minor pullbacks" ignores counter-moves smaller than the threshold, so each fib measures the full impulse, not its last leg.
- Every qualifying swing gets the full grid: 0, 0.236, 0.382, 0.5, 0.618, 0.786, 1. The ratio is printed at every level.
- Thin curves connect the grids into a channel, so the history stays readable.
- The golden pocket (0.618-0.786) is shaded on every fib.
- Extension targets -0.272 and -0.618 are projected beyond the extreme of the latest fib.
- Log-scale mode for macro swings, where linear and log fibs diverge a lot.
- Optional reaction dots mark bars that touched a level and closed back on the right side of it.
- Optional "Fade broken fibs": when price closes beyond the 1.0 level, the fib turns grey, stops extending and drops its targets.
HOW TO TRADE IT
1. Golden pocket pullback. In a trend, wait for price to enter the shaded 0.618-0.786 zone of the latest fib and get rejected. The "Golden pocket touch" alert does the waiting for you.
2. Extension targets. Once the retracement holds and price reclaims 0.236, the dashed -0.272 and -0.618 lines are the take-profit map for the next leg.
3. Broken fib. A close beyond 1.0 means the whole move was retraced. That is an early warning the trend may be flipping ("Full retracement break" alert).
REPAINTING
- A fib prints after its pivot confirms, i.e. "Swing length" bars after the extreme. It cannot appear earlier, there is no lookahead.
- While a swing keeps making new extremes, the latest fib follows them, the same way you re-drag a manual fib. Once the next swing confirms, the fib is fixed and never changes again.
- If you want zero intrabar movement, turn on "Bar-close mode" and the live chart will match bar replay exactly.
ALERTS
Ten total: touches of 0.236, 0.382, 0.5, 0.618, 0.786, golden pocket entry, both extension targets, full retracement break, new swing fib.
SETTINGS
Every input has a tooltip. The main ones: "Swing length" and "Min swing size" control how major the swings must be, "Fib history" sets how many fibs stay on the chart. Line widths, number sizes and all colors are adjustable.
ORIGINALITY
Unlike single-fib auto tools, this script renders the complete history of swing retracements as one connected channel, with impulse-merging swing logic, extension targets, reaction dots and an explicit invalidation state. The swing engine and the chained rendering are written from scratch.
You always know which level the market is trading against right now, and where price goes if that level holds. Instead of a single fib on the latest swing, or a pile of overlapping grids, you read the entire trend as a chain of retracements: where price respected the 0.618, where the golden pocket launched the next leg, and where a retracement failed and the trend flipped.
HOW IT WORKS
- A swing engine based on confirmed pivots finds every move larger than "Min swing size". The threshold is set in ATR, so it adapts to any symbol and timeframe.
- "Merge minor pullbacks" ignores counter-moves smaller than the threshold, so each fib measures the full impulse, not its last leg.
- Every qualifying swing gets the full grid: 0, 0.236, 0.382, 0.5, 0.618, 0.786, 1. The ratio is printed at every level.
- Thin curves connect the grids into a channel, so the history stays readable.
- The golden pocket (0.618-0.786) is shaded on every fib.
- Extension targets -0.272 and -0.618 are projected beyond the extreme of the latest fib.
- Log-scale mode for macro swings, where linear and log fibs diverge a lot.
- Optional reaction dots mark bars that touched a level and closed back on the right side of it.
- Optional "Fade broken fibs": when price closes beyond the 1.0 level, the fib turns grey, stops extending and drops its targets.
HOW TO TRADE IT
1. Golden pocket pullback. In a trend, wait for price to enter the shaded 0.618-0.786 zone of the latest fib and get rejected. The "Golden pocket touch" alert does the waiting for you.
2. Extension targets. Once the retracement holds and price reclaims 0.236, the dashed -0.272 and -0.618 lines are the take-profit map for the next leg.
3. Broken fib. A close beyond 1.0 means the whole move was retraced. That is an early warning the trend may be flipping ("Full retracement break" alert).
REPAINTING
- A fib prints after its pivot confirms, i.e. "Swing length" bars after the extreme. It cannot appear earlier, there is no lookahead.
- While a swing keeps making new extremes, the latest fib follows them, the same way you re-drag a manual fib. Once the next swing confirms, the fib is fixed and never changes again.
- If you want zero intrabar movement, turn on "Bar-close mode" and the live chart will match bar replay exactly.
ALERTS
Ten total: touches of 0.236, 0.382, 0.5, 0.618, 0.786, golden pocket entry, both extension targets, full retracement break, new swing fib.
SETTINGS
Every input has a tooltip. The main ones: "Swing length" and "Min swing size" control how major the swings must be, "Fib history" sets how many fibs stay on the chart. Line widths, number sizes and all colors are adjustable.
ORIGINALITY
Unlike single-fib auto tools, this script renders the complete history of swing retracements as one connected channel, with impulse-merging swing logic, extension targets, reaction dots and an explicit invalidation state. The swing engine and the chained rendering are written from scratch.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
💰Free Channel — t.me/FeelsStrategy
🤵For more info contact — t.me/VolodymyrFeels
🔗 Links — feelsstrategy.com/links
🤵For more info contact — t.me/VolodymyrFeels
🔗 Links — feelsstrategy.com/links
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
💰Free Channel — t.me/FeelsStrategy
🤵For more info contact — t.me/VolodymyrFeels
🔗 Links — feelsstrategy.com/links
🤵For more info contact — t.me/VolodymyrFeels
🔗 Links — feelsstrategy.com/links
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.