OPEN-SOURCE SCRIPT
FGW | dobofulop
This indicator automatically detects recent swing highs and lows, then plots two Fibonacci-based retracement lines to highlight the “Golden Zone.” By default, it uses the 50% and 61.8% Fibonacci levels as potential support or resistance. The script can also fill the zone between these levels to visually emphasize possible reversal areas. Ideal for identifying key pullback zones in a trending market, the Fibonacci Golden Wave helps traders gauge where a correction might end and a trend may resume.
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.
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