OPEN-SOURCE SCRIPT
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Fib Retracement Neo [GF4M]

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🔹 Fib Retracement Neo

This indicator is based on the built-in auto FBR logic. A guide meter has been added to the right of the live candle so that traders can easily understand the current structure in real time.


🔸 Core Mechanics & Features

Dynamic Structural Pivot Detection (from TV's built-in Auto Fib retracement): The script continuously monitors market structure to identify significant swing highs and swing lows based on mathematical volatility thresholds. Unlike standard static tools, it anchors the Fibonacci grid to the most relevant macro/micro trendlines based on user-defined inputs.


🔸 Real-Time Dynamic Guide Meter (Live Position Mapping)

To maximize executive visibility, the 'Live Guide Meter' rendered on the right side of the live candle. Continuously visualizes the current price’s location within the active Fibonacci grid. Auto-Adaptive Range Expansion: If price actions break regular Fibonacci boundaries, the extended range levels are calculated and projected automatically relative to the price vector.


🔹 Input Parameter Guide (Configuration)
  • How Far: Controls the price deviation coefficient required to invalidate a prior structural pivot. A higher value isolates macro trends, while a lower value maps micro-scalping structures.
  • Wave Size: Defines the minimum bar count required to establish a valid swing high or swing low. It prevents noise from micro-consolidations.
  • Fib Ratio Enable on/off
  • Retracement Meter on/off
  • Ruler Position (X-axis Offset) on/off

snapshot
Notes de version
auto on/off fib. value line updated.
Notes de version
update ... detailed info. of open-source re-use in source code description.

// Open-source re-used list
//
// 1. Auto Fib Retracement core is from ... Open-source : Tradingview's built-in one.
// a Performance Tuned
// b.Fib Value area position changed
// c.Retracement move Max/Min and current Position Display for visibility.
// d.out of regular area's Fib value guideline is auto-display on/off according to current last price location for less messy screen.
Notes de version
simple customizing feature added r0.9
  • Color style
  • Drawing Position
  • Fib. level on/off
  • Fib. level 886 added
Notes de version
update testing
Notes de version
Added graphics customizing option
for determine what you want to see
Notes de version
reupdate (screenshot update)
Notes de version
v1.01 Update

• Settings panel update
• Customizable parameters: Fib ratio, Color
• Stability improvements
snapshot
Notes de version
v1.02 minor change.
Notes de version
V1.03 Update - Tooltip, scrrenshot
Notes de version
V1.04 minor bugfix
Notes de version
V1.05 Update - Graphic tune
Notes de version
V1.06 Update - Graphic UI tune
Notes de version
V1.07 minor fix.
Notes de version
V1.08 minor change

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