Variable & Display Update
Updated variable usage and changed a few text displays.
What Changed
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Updated variable usage
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Changed text displays
Auto Fibonacci is a free TradingView indicator that plots retracement and extension levels from the previous day, week, month, quarter, or year high and low. Each line color-codes based on price position, and a live percentage gap table shows distance to the nearest levels above and below.
WHAT IT DOES
Automatic fibonacci retracement and extension levels drawn from the previous timeframe’s high and low, with color-coded lines, a percentage distance table and alerts for every level.
The indicator automatically calculates fibonacci levels using the high and low from the previous day, week, month, quarter or year. You can switch between timeframes in the settings to see support and resistance levels at different scales. The previous high and low are marked as white lines. these are key levels to watch when price reaches them. Check the higher timeframes for the most significant levels.
The indicator plots a full set of retracement and extension levels up to 3.272 in each direction. The retracement levels are: previous high, .117, .236, .382, .5, .618, .786, .883 and previous low. The extension levels are: .272, .618, 1, 1.272, 1.618, 2, 2.272, 2.618, 3 and 3.272. Each line paints green when price is above it and red when price is below it, so you can instantly see which levels are acting as support versus resistance.
A real-time table on the chart shows how far away the nearest fibonacci levels are above and below the current price, represented as percentages. The table can be repositioned to different areas of the chart, customized in color, or turned off entirely.
The indicator includes alerts for each fibonacci level. Set your fibonacci timeframe on your preferred ticker and turn on TradingView alerts for alert() calls to get notified when price crosses key levels without watching the chart.
INTERPRETATION GUIDE
Fibonacci levels are popular percentage-based support and resistance zones. Expect price to bounce off of these levels regularly. Trade in the direction of the trend. When price is above most levels, look for long entries on pullbacks to the next lower level. When price is below most levels, look for shorts into bounces at the next level above. Always check the percentage gap table before entering a trade to make sure there is enough distance to the next level to justify the risk.
CONFIGURATION
The Auto Fibonacci indicator has a straightforward set of options in the settings input tab. Here’s what you can configure.
GOOD TO KNOW
FREE ON TRADINGVIEW
Add it to your TradingView charts and start trading with automatic fibonacci levels today. No subscription required.
COMMON QUESTIONS
CHANGELOG
Updated variable usage and changed a few text displays.
EXPLORE MORE
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Automatic support and resistance levels based on wick rejections. Complements fibonacci levels by showing where price has been actively rejected, confirming which fib zones carry the most weight.
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Plots key levels from higher timeframe candles on your current chart. Use alongside the Auto Fibonacci to see where higher timeframe structure aligns with fibonacci retracement and extension zones.
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Plots options strike price levels as support and resistance. Layer with fibonacci levels to identify where strike price walls and fib zones overlap for high-probability trade setups.