OPEN-SOURCE SCRIPT
Dynamic Fibonacci Overlay
Synopsis / Description:
This indicator draws a dynamic Fibonacci-style overlay directly on the chart based on a user-defined lookback range. It automatically updates as new bars form, showing the stochastic range in real-time.
Key Features:
Top Line (Current Close): Tracks the live close of the most recent bar.
Bottom Line (Lookback Close): Fixed at the close of the bar length periods ago.
50% Line: Midpoint between top and bottom.
Optional Fibonacci Levels: 38.2% and 61.8% retracement lines.
Shaded Zone: Visual shading between top and bottom lines for easy range identification.
Customization: Adjustable colors, widths, and line styles for all lines.
Fully dynamic and real-time, providing an intuitive visual of price retracement and stochastic range.
Use Cases:
Quickly identify price ranges for swing and intraday trading.
Easily spot Fibonacci retracement levels in real-time.
Supports visual trading strategies based on stochastic ranges and retracements.
This indicator draws a dynamic Fibonacci-style overlay directly on the chart based on a user-defined lookback range. It automatically updates as new bars form, showing the stochastic range in real-time.
Key Features:
Top Line (Current Close): Tracks the live close of the most recent bar.
Bottom Line (Lookback Close): Fixed at the close of the bar length periods ago.
50% Line: Midpoint between top and bottom.
Optional Fibonacci Levels: 38.2% and 61.8% retracement lines.
Shaded Zone: Visual shading between top and bottom lines for easy range identification.
Customization: Adjustable colors, widths, and line styles for all lines.
Fully dynamic and real-time, providing an intuitive visual of price retracement and stochastic range.
Use Cases:
Quickly identify price ranges for swing and intraday trading.
Easily spot Fibonacci retracement levels in real-time.
Supports visual trading strategies based on stochastic ranges and retracements.
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.