OPEN-SOURCE SCRIPT
Nested SMA Fib Wave
A multi-timeframe-style moving average ribbon made of 8 Simple Moving Averages (SMAs) whose lengths follow consecutive Fibonacci numbers, each scaled by a user-chosen base length.You pick a starting Fibonacci number (e.g. 5, 8, 13, 21, 34…) via dropdown
The script takes the next 7 Fibonacci numbers in sequence
Each is multiplied by your base length → produces 8 progressively longer SMAs
Plots them as a colorful “wave” ribbon + optional zone shading between pairs
Includes bar-coloring modes based on distance from a chosen reference MA (gradient strength, simple above/below, etc.)
Example (base = 10, start Fib = 13):
Lengths → 130, 210, 340, 550, 890, 1 440, 2 330, 3 770Primary Use CasesTrend Strength & Multi-Timeframe Context Wider ribbon = strong trend / high volatility
Narrow / converging ribbon = consolidation / potential reversal
Price riding the upper/lower edge = strong directional momentum
Dynamic Support/Resistance Zones The shaded areas between MAs act as natural support/resistance layers
Price reactions at different Fib-based levels often highlight key zones
Trend-Following Entries & Exits Pullbacks to a middle MA (e.g. MA4 or MA5) in a trending ribbon → higher-probability entries
Ribbon inversion / major expansion → potential trend-change signal
Filtering Noise on Lower Timeframes Use a higher base length (or later-starting Fib) to create very smooth, longer-term context
Combine with shorter base/start for tactical entries on the same chart
Visual “Market Regime” Identification Tight, flat, overlapping MAs → ranging/choppy market
Strongly fanned-out ribbon → trending market (bullish or bearish depending on slope)
In short: It’s a visually intuitive way to see trend persistence, strength, and hierarchy of support/resistance using Fibonacci-proportioned smoothing periods instead of arbitrary or power-of-2 steps.
The script takes the next 7 Fibonacci numbers in sequence
Each is multiplied by your base length → produces 8 progressively longer SMAs
Plots them as a colorful “wave” ribbon + optional zone shading between pairs
Includes bar-coloring modes based on distance from a chosen reference MA (gradient strength, simple above/below, etc.)
Example (base = 10, start Fib = 13):
Lengths → 130, 210, 340, 550, 890, 1 440, 2 330, 3 770Primary Use CasesTrend Strength & Multi-Timeframe Context Wider ribbon = strong trend / high volatility
Narrow / converging ribbon = consolidation / potential reversal
Price riding the upper/lower edge = strong directional momentum
Dynamic Support/Resistance Zones The shaded areas between MAs act as natural support/resistance layers
Price reactions at different Fib-based levels often highlight key zones
Trend-Following Entries & Exits Pullbacks to a middle MA (e.g. MA4 or MA5) in a trending ribbon → higher-probability entries
Ribbon inversion / major expansion → potential trend-change signal
Filtering Noise on Lower Timeframes Use a higher base length (or later-starting Fib) to create very smooth, longer-term context
Combine with shorter base/start for tactical entries on the same chart
Visual “Market Regime” Identification Tight, flat, overlapping MAs → ranging/choppy market
Strongly fanned-out ribbon → trending market (bullish or bearish depending on slope)
In short: It’s a visually intuitive way to see trend persistence, strength, and hierarchy of support/resistance using Fibonacci-proportioned smoothing periods instead of arbitrary or power-of-2 steps.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.