Fib Retracement Algo
Description: This indicator has a series of steps that it takes before it finds possible retracement areas depending on the trend. The indicator itself is really simple to use.
How does it work?
This indicator uses the Hurst Exponent to verify whether or not the market is trending or not. It then determines the trend and then decides which retracement is possible.
If the hurst is below 0.5, then the retracement lines won't appear; they only appear in a trending market above 0.5 if you don't see the lines.
How Traders can use this indicator
Traders who trade bounces or retracements can use this indicator and enjoy the verification process that goes behind finding these retracements. This indicator can also be used to identify possible gaps on some occasions.
Examples of the indicator:
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact Traders_Endeavors directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Access our indicators: patreon.com/user?u=80987417
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact Traders_Endeavors directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Access our indicators: patreon.com/user?u=80987417