OPEN-SOURCE SCRIPT
Fibonacci Retracement [KTY]
[KTY] Fibonacci Retracement
Hi, I'm Kim Thank You ๐
KTY = Kim Thank You (๊น๋กํ)
Automatically detects swing highs and lows to display Fibonacci retracement and extension levels.
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๐ FEATURES
- Auto-Detection
- Identifies swing highs and lows automatically
- Displays retracement levels: 0.236, 0.382, 0.5, 0.618, 0.786, 0.886
- Displays extension levels: 1.272, 1.414, 1.618, 2.0, 2.618
- Trend Direction
- Uptrend: Measures retracement from high
- Downtrend: Measures retracement from low
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โ HOW TO USE
- Watch for support/resistance reactions at key Fibonacci levels
- Break of key level โ Check for move to next level
- Golden ratio (0.618) is often the strongest level
- Confluence with other S/R levels increases reliability
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๐ก TIPS
- Higher timeframe Fibonacci levels are more reliable
- Watch for price reaction + volume confirmation
- Use with trendlines or moving averages
- Multiple rejections at same level = stronger zone
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ ๏ธ DISCLAIMER
This indicator is for educational purposes only.
Not financial advice. Always do your own research.
Hi, I'm Kim Thank You ๐
KTY = Kim Thank You (๊น๋กํ)
Automatically detects swing highs and lows to display Fibonacci retracement and extension levels.
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
๐ FEATURES
- Auto-Detection
- Identifies swing highs and lows automatically
- Displays retracement levels: 0.236, 0.382, 0.5, 0.618, 0.786, 0.886
- Displays extension levels: 1.272, 1.414, 1.618, 2.0, 2.618
- Trend Direction
- Uptrend: Measures retracement from high
- Downtrend: Measures retracement from low
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ HOW TO USE
- Watch for support/resistance reactions at key Fibonacci levels
- Break of key level โ Check for move to next level
- Golden ratio (0.618) is often the strongest level
- Confluence with other S/R levels increases reliability
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
๐ก TIPS
- Higher timeframe Fibonacci levels are more reliable
- Watch for price reaction + volume confirmation
- Use with trendlines or moving averages
- Multiple rejections at same level = stronger zone
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ ๏ธ DISCLAIMER
This indicator is for educational purposes only.
Not financial advice. Always do your own research.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Hi, I'm Kim Thank You ๐
KTY = Kim Thank You (๊น๋กํ)
After years of trading, I've studied countless technical analysis methods.
Now I create and share indicators based on that experience ๐
KTY = Kim Thank You (๊น๋กํ)
After years of trading, I've studied countless technical analysis methods.
Now I create and share indicators based on that experience ๐
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Hi, I'm Kim Thank You ๐
KTY = Kim Thank You (๊น๋กํ)
After years of trading, I've studied countless technical analysis methods.
Now I create and share indicators based on that experience ๐
KTY = Kim Thank You (๊น๋กํ)
After years of trading, I've studied countless technical analysis methods.
Now I create and share indicators based on that experience ๐
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.