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.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.