OPEN-SOURCE SCRIPT
BIST Fibonacci Retracement Scanner
Automatically detects swing highs/lows, determines trend direction, and finds stocks currently sitting at key Fibonacci retracement levels — potential buy or sell zones.
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📌 HOW IT WORKS
1. Detects significant swing points using pivot analysis
2. Determines trend: higher lows = uptrend, lower highs = downtrend
3. Calculates Fibonacci retracement levels between swing points
4. Flags stocks where price is near a Fib level (within configurable tolerance)
• Uptrend pullback to Fib support → BUY zone
• Downtrend bounce to Fib resistance → SELL/AVOID zone
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📊 SCREENER COLUMNS
• SIGNAL — 1 when price is at a Fib level (use this to filter)
• Trend — 1 = uptrend (buy zone), -1 = downtrend (sell zone)
• Fib Level Hit — Which level triggered: 38.2%, 50%, or 61.8%
• Dist from Fib — How close price is to the exact level
• Retracement Depth — How deep the pullback is from the swing high
• RSI / Volume — Extra confirmation data
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⚙️ SETTINGS
• Swing Lookback: Pivot detection period (default: 20 bars)
• Fib Levels: 0.382 / 0.5 / 0.618 — toggle each on/off
• Tolerance: How close to Fib line to trigger (default: 2%)
• Trend Filter: Uptrend only / Downtrend only / Both
• Optional: RSI and Volume confirmation filters
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🎯 BEST USED WITH
Pine Screener → BIST watchlist → Filter SIGNAL = 1 → Sort by Fib Level or Retracement Depth
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⚠️ DISCLAIMER
This indicator is for educational and informational purposes only. It does not constitute financial advice. Always do your own analysis before making trading decisions. Past performance does not
guarantee future results.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━
📌 HOW IT WORKS
1. Detects significant swing points using pivot analysis
2. Determines trend: higher lows = uptrend, lower highs = downtrend
3. Calculates Fibonacci retracement levels between swing points
4. Flags stocks where price is near a Fib level (within configurable tolerance)
• Uptrend pullback to Fib support → BUY zone
• Downtrend bounce to Fib resistance → SELL/AVOID zone
━━━━━━━━━━━━━━━━━━━━━━━━━━━━
📊 SCREENER COLUMNS
• SIGNAL — 1 when price is at a Fib level (use this to filter)
• Trend — 1 = uptrend (buy zone), -1 = downtrend (sell zone)
• Fib Level Hit — Which level triggered: 38.2%, 50%, or 61.8%
• Dist from Fib — How close price is to the exact level
• Retracement Depth — How deep the pullback is from the swing high
• RSI / Volume — Extra confirmation data
━━━━━━━━━━━━━━━━━━━━━━━━━━━━
⚙️ SETTINGS
• Swing Lookback: Pivot detection period (default: 20 bars)
• Fib Levels: 0.382 / 0.5 / 0.618 — toggle each on/off
• Tolerance: How close to Fib line to trigger (default: 2%)
• Trend Filter: Uptrend only / Downtrend only / Both
• Optional: RSI and Volume confirmation filters
━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🎯 BEST USED WITH
Pine Screener → BIST watchlist → Filter SIGNAL = 1 → Sort by Fib Level or Retracement Depth
━━━━━━━━━━━━━━━━━━━━━━━━━━━━
⚠️ DISCLAIMER
This indicator is for educational and informational purposes only. It does not constitute financial advice. Always do your own analysis before making trading decisions. Past performance does not
guarantee future results.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.