OPEN-SOURCE SCRIPT
Aktualisiert Trend-Based Fibs: Static Labels at Start
This indicator automatically projects Fibonacci extension levels and "Golden Zones" starting from the opening price of a new period (Daily or Weekly). By using the previous period’s range (High-Low) as the basis for volatility, it provides objective price targets and reversal zones for the current session.
How it Works Unlike standard Fibonacci Retracements that require manual drawing from swing highs to lows, this tool uses a fixed anchor method: The Range: It calculates the total range of the previous day or week.
The Anchor: It sets the current period's opening price as the "Zero Line."The Projection: It applies Fibonacci ratios ($0.236$, $0.5$, $0.786$, $1.0$, and $1.618$) upward and downward from that opening price.
Key Features Automated Levels: No more manual drawing. Levels reset and recalculate automatically at the start of every Daily or Weekly candle. Bullish & Bearish Zones: Instantly see extensions for both directions. The "Golden Zones": Highlighted boxes represent the high-probability $0.236$ to $0.5$ zones for both long and short continuations. Previous Period Levels: Optional toggles to show the previous High and Low, which often act as major support or resistance.
Integrated EMAs: Includes two customizable Exponential Moving Averages (default 20 and 100) to help you stay on the right side of the trend.
Clean Visuals: Labels are pinned to the start of the period to keep your charts uncluttered while lines extend dynamically as time progresses.
How to Trade with it Trend Continuation: If price opens and holds above the $0.236$ bullish level, look for the $0.618$ and $1.0$ levels as targets.
Reversals: Watch for price exhaustion at the $1.618$ extension, especially if it aligns with an EMA or a Previous High/Low.
Gap Plays: Excellent for "Opening Range" strategies where you use the first close of the day as the pivot point for the extensions.
How it Works Unlike standard Fibonacci Retracements that require manual drawing from swing highs to lows, this tool uses a fixed anchor method: The Range: It calculates the total range of the previous day or week.
The Anchor: It sets the current period's opening price as the "Zero Line."The Projection: It applies Fibonacci ratios ($0.236$, $0.5$, $0.786$, $1.0$, and $1.618$) upward and downward from that opening price.
Key Features Automated Levels: No more manual drawing. Levels reset and recalculate automatically at the start of every Daily or Weekly candle. Bullish & Bearish Zones: Instantly see extensions for both directions. The "Golden Zones": Highlighted boxes represent the high-probability $0.236$ to $0.5$ zones for both long and short continuations. Previous Period Levels: Optional toggles to show the previous High and Low, which often act as major support or resistance.
Integrated EMAs: Includes two customizable Exponential Moving Averages (default 20 and 100) to help you stay on the right side of the trend.
Clean Visuals: Labels are pinned to the start of the period to keep your charts uncluttered while lines extend dynamically as time progresses.
How to Trade with it Trend Continuation: If price opens and holds above the $0.236$ bullish level, look for the $0.618$ and $1.0$ levels as targets.
Reversals: Watch for price exhaustion at the $1.618$ extension, especially if it aligns with an EMA or a Previous High/Low.
Gap Plays: Excellent for "Opening Range" strategies where you use the first close of the day as the pivot point for the extensions.
Versionshinweise
rend-Based Fibs: Strict Reversal LogicThis advanced version of the Trend-Based Fibonacci tool evolves from simple price projections into a complete session-based execution framework. It combines the volatility of the previous period (Daily or Weekly) with a "Strict Reversal" logic to identify high-probability entries at key expansion zones.
The Methodology
The script calculates the range of the Previous Day/Week and applies those Fibonacci ratios to the First Candle's Close of the current session. This creates a "Volatility Map" for the day, identifying where price is likely to either extend its move or exhaust and reverse.
Key Logic & Strategy Features
Expansion Entries: Signals a Breakout (Brk) when price closes strongly above/below the 0.236 level, targeting the 0.500 extension.
Mean Reversion Entries: Signals a Reversal (Rev) when price pierces the 0.236 level but fails to hold, targeting a return to the Session Open (1st Close).
Strict Reversal (The "Fail-Safe"): If a trade hits its stop loss, the script triggers a one-time "REV-BUY" or "REV-SELL" signal, flipping the bias to capture the momentum that caused the initial stop-out.
Single Signal per Session: To prevent over-trading, the script limits entries to one primary signal and one potential reversal signal per period.
Visual Toolset
PDH/PDL & ORB: Displays Previous Day High/Low and the Opening Range Breakout (ORB) levels for structural context.
Automated SL/Target Lines: Dynamic plotting of Stop Loss and Target levels for the active trade.
Clean Mode: "Hide Historical Levels" ensures that only the current session's relevant levels are visible, keeping your workspace professional.
Dual EMA Context: Integrated 20 and 100 EMAs to help you align your Fib entries with the broader trend.
Execution Guide
Wait for the 0.236: Price interaction with the first Fibonacci level (0.236) is the trigger zone.
Follow the Labels: Look for the triangle icons (Entry) or the "REV" text for the fail-safe flip.
Risk Management: Use the plotted red (SL) and green (Target) lines to manage your trade. The target is met when the 🎯 icon appears.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.