Auto Fibonacci From Previous High & Low w/ Percentages & Alerts
This is an auto fibonacci level generating indicator that uses the high and low from the previous day, week, month, quarter or year. It also has a table with real time updates of how far away the nearest fibonacci levels are above and below the current price, represented in percentages. It includes alerts for each level as well if you want to be notified of price crossing fibonacci levels without watching the chart.
How To Use
Fibonacci levels are also known as the golden ratio and are popular levels for traders to use as support and resistance levels. Expect price to bounce off of these levels regularly. The previous high and low are marked as white lines. These are very important levels so make sure to pay attention when price reaches these lines. Make sure to check out the higher timeframes for major levels.
Each fibonacci line retracement and extension up to the 3.272 level in each direction is displayed as red or green depending on whether price is above or below that level. The retracement levels used are: previous high, .117, .236, .382, .5, .618, .786, .883, previous low, 1.272, 1.618, 2, 2.272, 2.618, 3 and 3.272. The extension levels used are: .272, .618, 1, 1.272, 1.618, 2, 2.272, 2.618, 3 and 3.272.
In the indicator settings input tab you can quickly change the timeframe used, turn lines on/off, upper line colors, lower line colors, previous high and low line colors, line width, turn percentage table on/off, change the color of the percentage table and move the percentage table to a different location on the chart. The indicator includes alerts for each fibonacci level as well, just set your fibonacci timeframe on your favorite ticker and turn on tradingview alerts for alert() calls.
This auto fibonacci indicator can be used on all timeframes.
Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are our Buy & Sell Pressure Colored Candles, Market Sector Scanner, Volume Profile W/ Buy & Sell Pressure Labels, Indicator Direction Table and Money Flow Index in combination with this Auto Fibonacci. They all have real time bullish and bearish labels or percentage gap info as well so you can immediately understand each indicator’s trend and how far away major levels are in percentages.
March 25, 2022: Updated variable usage and changed a few text displays.