[ICT Sebo] FIB

Overview

This indicator identifies and plots Fibonacci-based retracement levels derived from short-term price swings. It uses simple two-candle reversal patterns to define a completed swing sequence and calculates a configurable Fibonacci level within that range as a structural reference.

The script is designed as a lightweight swing-structure and retracement visualization tool and does not generate trade signals.

How it works

The indicator monitors consecutive candle behavior to detect short-term directional shifts. A bullish sequence is defined by a bearish candle followed by a bullish candle, while a bearish sequence is defined by a bullish candle followed by a bearish candle.

Once a valid low-to-high or high-to-low swing sequence is confirmed, the indicator calculates a Fibonacci retracement level between the swing high and swing low using a user-defined ratio. This level represents a potential internal reference within the completed price movement.

Each Fibonacci level is plotted as a horizontal line and extended forward for a configurable number of bars.

Visualization

Bullish Fibonacci levels are displayed in green and bearish Fibonacci levels are displayed in red. Lines are drawn only after a full swing sequence is completed and remain fixed once plotted.

The indicator does not repaint previously confirmed Fibonacci levels.

Intended use

This tool supports swing-based market structure analysis, retracement context evaluation and price behavior studies. It is suitable for intraday analysis and should be used in combination with broader market context and risk management.

Notes

This indicator does not predict price direction, does not provide entry or exit signals and is intended purely as a visual reference for Fibonacci retracement levels.