OPEN-SOURCE SCRIPT
A.I Fibonacci [Paradox]
Description:
The A.I fibonacci is a tool designed to assist traders in identifying potential price levels following a retracement. Unlike many other Fibonacci indicators available, this script is tailored to highlight the most crucial levels for entries, take profits, and stop losses.
Key Features:
Automatic Calculation: The script automatically calculates and plots Fibonacci extension levels based on the price movement and the highs and the lows on the chart.
Optimal Levels: It emphasizes the most relevant levels for making informed trading decisions, ensuring traders focus on what specific levels.
Versatility: Suitable for all markets, making it a versatile tool for traders across different asset classes.
User-Friendly: Designed with both novice and experienced traders in mind, the script is easy to use and interpret.
How It Stands Out:
While there are numerous Fibonacci tools available, the A.I Fibonacci is distinct in its approach. It not only calculates potential price reversal areas but also pinpoints possible price levels after a retracement is completed. This dual functionality ensures traders have a comprehensive view of the market.
How to Use:
Apply the script to your desired chart.
Observe the plotted Fibonacci levels.
Use these levels to determine potential entry, exit, and stop-loss points.
Green - Entry levels
Red - Stop Loss Levels
Yellow - Take Profit Levels
Applicability:
A.I Fibonacci is designed for all markets, making it a versatile tool for forex, stocks, commodities, and more.
Conditions for Use:
The script performs optimally under various market conditions. However, as with all technical tools, it's recommended to use it in conjunction with other indicators and analysis methods for best results.
The A.I fibonacci is a tool designed to assist traders in identifying potential price levels following a retracement. Unlike many other Fibonacci indicators available, this script is tailored to highlight the most crucial levels for entries, take profits, and stop losses.
Key Features:
Automatic Calculation: The script automatically calculates and plots Fibonacci extension levels based on the price movement and the highs and the lows on the chart.
Optimal Levels: It emphasizes the most relevant levels for making informed trading decisions, ensuring traders focus on what specific levels.
Versatility: Suitable for all markets, making it a versatile tool for traders across different asset classes.
User-Friendly: Designed with both novice and experienced traders in mind, the script is easy to use and interpret.
How It Stands Out:
While there are numerous Fibonacci tools available, the A.I Fibonacci is distinct in its approach. It not only calculates potential price reversal areas but also pinpoints possible price levels after a retracement is completed. This dual functionality ensures traders have a comprehensive view of the market.
How to Use:
Apply the script to your desired chart.
Observe the plotted Fibonacci levels.
Use these levels to determine potential entry, exit, and stop-loss points.
Green - Entry levels
Red - Stop Loss Levels
Yellow - Take Profit Levels
Applicability:
A.I Fibonacci is designed for all markets, making it a versatile tool for forex, stocks, commodities, and more.
Conditions for Use:
The script performs optimally under various market conditions. However, as with all technical tools, it's recommended to use it in conjunction with other indicators and analysis methods for best results.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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.