OPEN-SOURCE SCRIPT
Dynamic Fibonacci Auto [forexobroker]
🔶 OVERVIEW
Dynamic Fibonacci Auto calculates Fibonacci retracement and extension levels automatically from confirmed swing highs and swing lows, updating dynamically as new pivots form. The indicator highlights the 50%-61.8% "Golden Zone" -- the area where the highest-probability retracements tend to find support or resistance -- and fires entry signals when price bounces from this zone with trend, volume, and candle direction confirmation.
This tool is designed for traders who use Fibonacci levels as a core part of their analysis but want to eliminate the manual process of dragging retracement tools onto the chart every time a new swing forms. It works on any instrument and any timeframe, automatically adapting its levels to the most recent confirmed market structure.
🔶 CONCEPTS
Fibonacci retracement levels are derived from the mathematical Fibonacci sequence and are used to identify potential support and resistance levels during a pullback within a trend. The key levels -- 23.6%, 38.2%, 50%, 61.8%, and 78.6% -- represent proportions of a prior move where price is statistically more likely to find a reaction. The 50%-61.8% range is known as the "Golden Zone" because it represents a deep enough retracement to offer favorable risk-reward, yet not so deep that it suggests the prior trend has failed. Extension levels (127.2%, 161.8%) project potential targets beyond the original swing.
🔶 HOW IT WORKS
- Detects swing highs and swing lows using a configurable pivot lookback length on both sides
- Determines trend direction based on whether the most recent swing low preceded the most recent swing high (uptrend) or vice versa
- Calculates all standard Fibonacci retracement levels (23.6%, 38.2%, 50%, 61.8%, 78.6%) and extension levels (127.2%, 161.8%) from the last confirmed swing range
- Draws levels as horizontal lines with a highlighted Golden Zone box between the 50% and 61.8% levels
- Fires signals when price enters the Golden Zone, forms a directional candle (bullish for uptrend, bearish for downtrend), closes above the zone midpoint, confirms with EMA trend alignment and volume filter
🔶 HOW TO USE
1. Add the indicator to any chart -- Fibonacci levels and the Golden Zone appear automatically once swing points are detected
2. Watch for price to pull back into the highlighted Golden Zone (the shaded area between 50% and 61.8%)
3. BUY arrows fire during uptrends when price bounces bullishly from the Golden Zone; SELL arrows fire during downtrends
4. Signal labels show the nearest Fibonacci level, current price, and suggested SL/TP levels based on ATR
5. Use extension levels (127.2%, 161.8%) as potential profit targets beyond the original swing. Always confirm with broader market context and define your stop-loss.
🔶 FEATURES
- Non-repainting signals (barstate.isconfirmed)
- Works on all timeframes and instruments
- 9 alert conditions with JSON webhook support
- ATR-based stop-loss and take-profit levels on signal labels
- Visual Golden Zone highlight with optional background tint when price is inside the zone
🔶 SETTINGS GUIDE
- Swing Detection Length -- Bars to the left and right required to confirm a pivot point
- Trend EMA Length -- Period for the EMA used to confirm trend direction on bounce signals
- Volume SMA Length -- Period for the volume filter
- Signal Cooldown -- Minimum bars between signals
- Show 23.6% / 38.2% / 50% / 61.8% / 78.6% -- Toggle individual Fibonacci levels
- ATR Length -- Period for stop-loss and take-profit calculation
- SL ATR Multiplier -- Stop-loss distance as a multiple of ATR
- Show SL/TP on Labels -- Toggle stop-loss and take-profit display
- Show Extension Levels -- Toggle 127.2% and 161.8% extension lines
- Show Golden Zone Fill -- Toggle the shaded box between 50% and 61.8%
- Show Golden Zone Background -- Toggle background tint when price is inside the zone
- Show Info Table -- Toggle the dashboard
🔶 ALERTS
- Bullish Fib Bounce -- Price bounces bullishly from Golden Zone in uptrend
- Bearish Fib Bounce -- Price bounces bearishly from Golden Zone in downtrend
- Price in Golden Zone -- Price enters the 50%-61.8% zone
- New Swing High -- New confirmed swing high detected
- New Swing Low -- New confirmed swing low detected
- Any Fib Signal -- Any confirmed Fibonacci bounce signal
- Unconfirmed Bull Bounce -- Golden Zone bounce without full filter confirmation
- Unconfirmed Bear Bounce -- Golden Zone bounce without full filter confirmation
- Fib Range Expansion -- Fibonacci range expands significantly (new wider swing detected)
🔶 LIMITATIONS & DISCLAIMER
- This is a technical analysis tool, not financial advice. Always use proper risk management.
- Fibonacci levels are not guaranteed support/resistance -- they represent areas of potential interest, not certainties.
- Swing detection requires lookback bars on both sides, so levels update with a delay equal to the Swing Detection Length setting.
- In strongly trending markets with shallow pullbacks, price may not reach the Golden Zone before continuing.
Dynamic Fibonacci Auto calculates Fibonacci retracement and extension levels automatically from confirmed swing highs and swing lows, updating dynamically as new pivots form. The indicator highlights the 50%-61.8% "Golden Zone" -- the area where the highest-probability retracements tend to find support or resistance -- and fires entry signals when price bounces from this zone with trend, volume, and candle direction confirmation.
This tool is designed for traders who use Fibonacci levels as a core part of their analysis but want to eliminate the manual process of dragging retracement tools onto the chart every time a new swing forms. It works on any instrument and any timeframe, automatically adapting its levels to the most recent confirmed market structure.
🔶 CONCEPTS
Fibonacci retracement levels are derived from the mathematical Fibonacci sequence and are used to identify potential support and resistance levels during a pullback within a trend. The key levels -- 23.6%, 38.2%, 50%, 61.8%, and 78.6% -- represent proportions of a prior move where price is statistically more likely to find a reaction. The 50%-61.8% range is known as the "Golden Zone" because it represents a deep enough retracement to offer favorable risk-reward, yet not so deep that it suggests the prior trend has failed. Extension levels (127.2%, 161.8%) project potential targets beyond the original swing.
🔶 HOW IT WORKS
- Detects swing highs and swing lows using a configurable pivot lookback length on both sides
- Determines trend direction based on whether the most recent swing low preceded the most recent swing high (uptrend) or vice versa
- Calculates all standard Fibonacci retracement levels (23.6%, 38.2%, 50%, 61.8%, 78.6%) and extension levels (127.2%, 161.8%) from the last confirmed swing range
- Draws levels as horizontal lines with a highlighted Golden Zone box between the 50% and 61.8% levels
- Fires signals when price enters the Golden Zone, forms a directional candle (bullish for uptrend, bearish for downtrend), closes above the zone midpoint, confirms with EMA trend alignment and volume filter
🔶 HOW TO USE
1. Add the indicator to any chart -- Fibonacci levels and the Golden Zone appear automatically once swing points are detected
2. Watch for price to pull back into the highlighted Golden Zone (the shaded area between 50% and 61.8%)
3. BUY arrows fire during uptrends when price bounces bullishly from the Golden Zone; SELL arrows fire during downtrends
4. Signal labels show the nearest Fibonacci level, current price, and suggested SL/TP levels based on ATR
5. Use extension levels (127.2%, 161.8%) as potential profit targets beyond the original swing. Always confirm with broader market context and define your stop-loss.
🔶 FEATURES
- Non-repainting signals (barstate.isconfirmed)
- Works on all timeframes and instruments
- 9 alert conditions with JSON webhook support
- ATR-based stop-loss and take-profit levels on signal labels
- Visual Golden Zone highlight with optional background tint when price is inside the zone
🔶 SETTINGS GUIDE
- Swing Detection Length -- Bars to the left and right required to confirm a pivot point
- Trend EMA Length -- Period for the EMA used to confirm trend direction on bounce signals
- Volume SMA Length -- Period for the volume filter
- Signal Cooldown -- Minimum bars between signals
- Show 23.6% / 38.2% / 50% / 61.8% / 78.6% -- Toggle individual Fibonacci levels
- ATR Length -- Period for stop-loss and take-profit calculation
- SL ATR Multiplier -- Stop-loss distance as a multiple of ATR
- Show SL/TP on Labels -- Toggle stop-loss and take-profit display
- Show Extension Levels -- Toggle 127.2% and 161.8% extension lines
- Show Golden Zone Fill -- Toggle the shaded box between 50% and 61.8%
- Show Golden Zone Background -- Toggle background tint when price is inside the zone
- Show Info Table -- Toggle the dashboard
🔶 ALERTS
- Bullish Fib Bounce -- Price bounces bullishly from Golden Zone in uptrend
- Bearish Fib Bounce -- Price bounces bearishly from Golden Zone in downtrend
- Price in Golden Zone -- Price enters the 50%-61.8% zone
- New Swing High -- New confirmed swing high detected
- New Swing Low -- New confirmed swing low detected
- Any Fib Signal -- Any confirmed Fibonacci bounce signal
- Unconfirmed Bull Bounce -- Golden Zone bounce without full filter confirmation
- Unconfirmed Bear Bounce -- Golden Zone bounce without full filter confirmation
- Fib Range Expansion -- Fibonacci range expands significantly (new wider swing detected)
🔶 LIMITATIONS & DISCLAIMER
- This is a technical analysis tool, not financial advice. Always use proper risk management.
- Fibonacci levels are not guaranteed support/resistance -- they represent areas of potential interest, not certainties.
- Swing detection requires lookback bars on both sides, so levels update with a delay equal to the Swing Detection Length setting.
- In strongly trending markets with shallow pullbacks, price may not reach the Golden Zone before continuing.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
🔵Gain access to our powerful tools : forexobroker.com/tv
🔵Join our free telegram for updates : t.me/dominicwalsfxhtrader
All scripts & content provided by Forexobroker are for informational & educational purposes only.
🔵Join our free telegram for updates : t.me/dominicwalsfxhtrader
All scripts & content provided by Forexobroker are for informational & educational purposes only.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
🔵Gain access to our powerful tools : forexobroker.com/tv
🔵Join our free telegram for updates : t.me/dominicwalsfxhtrader
All scripts & content provided by Forexobroker are for informational & educational purposes only.
🔵Join our free telegram for updates : t.me/dominicwalsfxhtrader
All scripts & content provided by Forexobroker are for informational & educational purposes only.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.