OPEN-SOURCE SCRIPT
Fibonacci Extension Breakout
Fibonacci Extension Breakout
This indicator automatically draws Fibonacci extension zones on higher-timeframe (HTF) breakouts. Instead of manually drawing Fibonacci retracements after every swing, the script detects when price closes beyond the previous HTF bar's high or low, and then plots seven colored zones (boxes) extending from that breakout range using the 0, 1, 1.272, 1.786, and 2.272 Fibonacci ratios (and their negative-side equivalents).
How it works?
On each new HTF period (default: Daily), the script checks whether the current HTF close has broken above the prior HTF high (bullish) or below the prior HTF low (bearish).
If a breakout occurred, it takes the new period's high/low as the base range and calculates Fibonacci extension levels outward from that range using a custom scaling function.
Each level pair (e.g., 1–1.272, 1.272–1.786, etc.) is rendered as a colored box, updated live as the HTF period develops, and closed off once the period ends.
A configurable history limit (Box History) controls how many past breakout zones remain visible on the chart.
HTF data is requested with lookahead=off (the safe default) to avoid look-ahead / repainting bias, so historical results reflect only data that was actually available at that time.
Inputs
Timeframe: the higher timeframe used for breakout detection (default: Daily)
Box History: number of past breakout zones kept on the chart
Border Color: box border color
How to use it?
Add the indicator to any chart. When a breakout box appears, the mid-zone (0–1) represents the breakout range itself; zones above/below represent potential extension targets or reaction areas traders commonly watch after a breakout.
This tool visualizes potential price targets after a range breakout — it does not generate buy/sell signals and should be combined with your own risk management and trade plan.
This indicator automatically draws Fibonacci extension zones on higher-timeframe (HTF) breakouts. Instead of manually drawing Fibonacci retracements after every swing, the script detects when price closes beyond the previous HTF bar's high or low, and then plots seven colored zones (boxes) extending from that breakout range using the 0, 1, 1.272, 1.786, and 2.272 Fibonacci ratios (and their negative-side equivalents).
How it works?
On each new HTF period (default: Daily), the script checks whether the current HTF close has broken above the prior HTF high (bullish) or below the prior HTF low (bearish).
If a breakout occurred, it takes the new period's high/low as the base range and calculates Fibonacci extension levels outward from that range using a custom scaling function.
Each level pair (e.g., 1–1.272, 1.272–1.786, etc.) is rendered as a colored box, updated live as the HTF period develops, and closed off once the period ends.
A configurable history limit (Box History) controls how many past breakout zones remain visible on the chart.
HTF data is requested with lookahead=off (the safe default) to avoid look-ahead / repainting bias, so historical results reflect only data that was actually available at that time.
Inputs
Timeframe: the higher timeframe used for breakout detection (default: Daily)
Box History: number of past breakout zones kept on the chart
Border Color: box border color
How to use it?
Add the indicator to any chart. When a breakout box appears, the mid-zone (0–1) represents the breakout range itself; zones above/below represent potential extension targets or reaction areas traders commonly watch after a breakout.
This tool visualizes potential price targets after a range breakout — it does not generate buy/sell signals and should be combined with your own risk management and trade plan.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.