OPEN-SOURCE SCRIPT
Auto Fib Retracement [Syafiq.Jr]
This TradingView script is an advanced indicator titled "Auto Fib Retracement Neo [Syafiq.Jr]." It's designed to automatically plot Fibonacci retracement levels on a price chart, aiding in technical analysis for traders. Here's a breakdown of its functionality:
Core Functionality:
The script identifies pivot points (highs and lows) on a chart and draws Fibonacci retracement lines based on these points. The lines are dynamic, updating in real-time as the market progresses.
Customizable Inputs:
Depth: Determines the minimum number of bars considered in the pivot point calculation.
Deviation: Adjusts the sensitivity of the script in identifying new pivots.
Fibonacci Levels: Allows users to select which retracement levels (236, 382, 500, 618, 786, 886) are displayed on the chart.
Visual Settings: Customization options include the colors and styles of pivot points, trend lines, and the retracement meter.
Pivot and Line Calculation:
The script calculates the deviation between the current price and the last pivot point. If the deviation exceeds a certain threshold, it identifies a new pivot and draws a trend line between the previous pivot and the current one.
Visual Aids:
The indicator provides extensive visual aids, including pivot points marked with circles, dashed trend lines connecting pivots, and labels displaying additional information like price and delta rate.
Performance:
Optimized to handle large datasets, the script is configured to process up to 4000 bars and can manage numerous lines and labels efficiently.
Background and Appearance:
The script allows for customization of the chart background color, enhancing visibility based on user preferences.
In essence, this script is a powerful tool for traders who rely on Fibonacci retracement levels to identify potential support and resistance areas, allowing for a more automated and visually guided approach to market analysis.
Core Functionality:
The script identifies pivot points (highs and lows) on a chart and draws Fibonacci retracement lines based on these points. The lines are dynamic, updating in real-time as the market progresses.
Customizable Inputs:
Depth: Determines the minimum number of bars considered in the pivot point calculation.
Deviation: Adjusts the sensitivity of the script in identifying new pivots.
Fibonacci Levels: Allows users to select which retracement levels (236, 382, 500, 618, 786, 886) are displayed on the chart.
Visual Settings: Customization options include the colors and styles of pivot points, trend lines, and the retracement meter.
Pivot and Line Calculation:
The script calculates the deviation between the current price and the last pivot point. If the deviation exceeds a certain threshold, it identifies a new pivot and draws a trend line between the previous pivot and the current one.
Visual Aids:
The indicator provides extensive visual aids, including pivot points marked with circles, dashed trend lines connecting pivots, and labels displaying additional information like price and delta rate.
Performance:
Optimized to handle large datasets, the script is configured to process up to 4000 bars and can manage numerous lines and labels efficiently.
Background and Appearance:
The script allows for customization of the chart background color, enhancing visibility based on user preferences.
In essence, this script is a powerful tool for traders who rely on Fibonacci retracement levels to identify potential support and resistance areas, allowing for a more automated and visually guided approach to market analysis.
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.