OPEN-SOURCE SCRIPT
PHI Channel (Auto) Support & Resistance (Fibonacci)
📐 PHI Channel (Auto) Support & Resistance (Fibonacci)
This indicator automatically identifies the most recent Pivot High and Pivot Low points in the market and projects dynamic Fibonacci (PHI) levels based on that range. Unlike static Fibonacci tools, this system constantly updates with price action and includes a "Range Factor" (RF) to expand or contract the support/resistance zones dynamically.
🚀 Key Features
Automatic Pivot Detection: Finds the most reliable peak and trough points based on your preferred Lookback period.
Dynamic PHI Levels: Projects key ratios including 0.618, 1.000, 1.618, 2.618, and 4.236 to create both Interim and Main Support/Resistance zones.
Flexible Range Factor (RF): A unique multiplier that allows you to manually expand or contract the entire channel width to fit current market volatility.
Trend Info Table: A real-time dashboard in the top-right corner reporting current Trend Bias (Bullish/Bearish) and Channel Width.
Advanced Visuals: Includes optional Pivot Dots to highlight the source of the channel and an RF Band for volatility visualization.
🛠️ How to Use
Pivot Lookback: Increase this for long-term (Major) channels or decrease it for short-term (Scalp) levels.
Range Factor (RF): If price frequently overshoots the levels, try increasing the RF to 1.2 or 1.5 to capture wider swings.
Base Line (Pivot): The yellow center line represents the starting pivot point. Staying above or below this line is a critical filter for short-term direction.
Tooltips: Every setting in the inputs panel includes a tooltip—simply hover over the "i" icon for a detailed explanation of what each parameter does.
💡 Strategy Tips
Mean Reversion: Look for price reversals at the +1.000 (Main Resistance) or -1.000 (Main Support) levels during sideways markets.
Breakouts: High-volume breaks above the 1.618 or 2.618 levels often signal the start of a parabolic trend move.
Support/Resistance Flip: Watch for old resistance levels (blue lines) to become new support after a breakout.
Disclaimer: This tool is designed for technical analysis and identifying high-probability reaction zones. It does not generate automated buy/sell signals on its own.
This indicator automatically identifies the most recent Pivot High and Pivot Low points in the market and projects dynamic Fibonacci (PHI) levels based on that range. Unlike static Fibonacci tools, this system constantly updates with price action and includes a "Range Factor" (RF) to expand or contract the support/resistance zones dynamically.
🚀 Key Features
Automatic Pivot Detection: Finds the most reliable peak and trough points based on your preferred Lookback period.
Dynamic PHI Levels: Projects key ratios including 0.618, 1.000, 1.618, 2.618, and 4.236 to create both Interim and Main Support/Resistance zones.
Flexible Range Factor (RF): A unique multiplier that allows you to manually expand or contract the entire channel width to fit current market volatility.
Trend Info Table: A real-time dashboard in the top-right corner reporting current Trend Bias (Bullish/Bearish) and Channel Width.
Advanced Visuals: Includes optional Pivot Dots to highlight the source of the channel and an RF Band for volatility visualization.
🛠️ How to Use
Pivot Lookback: Increase this for long-term (Major) channels or decrease it for short-term (Scalp) levels.
Range Factor (RF): If price frequently overshoots the levels, try increasing the RF to 1.2 or 1.5 to capture wider swings.
Base Line (Pivot): The yellow center line represents the starting pivot point. Staying above or below this line is a critical filter for short-term direction.
Tooltips: Every setting in the inputs panel includes a tooltip—simply hover over the "i" icon for a detailed explanation of what each parameter does.
💡 Strategy Tips
Mean Reversion: Look for price reversals at the +1.000 (Main Resistance) or -1.000 (Main Support) levels during sideways markets.
Breakouts: High-volume breaks above the 1.618 or 2.618 levels often signal the start of a parabolic trend move.
Support/Resistance Flip: Watch for old resistance levels (blue lines) to become new support after a breakout.
Disclaimer: This tool is designed for technical analysis and identifying high-probability reaction zones. It does not generate automated buy/sell signals on its own.
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.