OPEN-SOURCE SCRIPT
Golbach Advanced Fibonacci Levels
Advanced Custom Fibonacci Levels Indicator:
This custom indicator allows traders to apply multiple Fibonacci levels on the price chart, calculated based on a user-defined price (A) and a variable (a). The Fibonacci levels are displayed as lines at significant price levels with customizable enable/disable options, colors, and labels for easy identification.
For the Price value, we take the first 5 digits of the price (removing the decimal point).
DR Low = Int(Price/PO3) x PO3
DR High = DR Low + PO3
PO3 = 27,81, 243, 729, 2187, .....
Key Features:
Customizable Price & Variable: Enter your own price value (A) and select from predefined variable options (21, 81, 243, 729, 2187).
Multiple Fibonacci Levels: Enable or disable key Fibonacci levels, such as 3%, 11%, 17%, 29%, 41%, and more.
Customizable Colors: Adjust the color of each Fibonacci level according to your preferences.
Dynamic Plotting: View low and high levels, alongside the selected Fibonacci levels, for better decision-making.
This tool is designed for traders who wish to apply advanced Fibonacci analysis to identify potential support and resistance zones based on custom parameters.
This custom indicator allows traders to apply multiple Fibonacci levels on the price chart, calculated based on a user-defined price (A) and a variable (a). The Fibonacci levels are displayed as lines at significant price levels with customizable enable/disable options, colors, and labels for easy identification.
For the Price value, we take the first 5 digits of the price (removing the decimal point).
DR Low = Int(Price/PO3) x PO3
DR High = DR Low + PO3
PO3 = 27,81, 243, 729, 2187, .....
Key Features:
Customizable Price & Variable: Enter your own price value (A) and select from predefined variable options (21, 81, 243, 729, 2187).
Multiple Fibonacci Levels: Enable or disable key Fibonacci levels, such as 3%, 11%, 17%, 29%, 41%, and more.
Customizable Colors: Adjust the color of each Fibonacci level according to your preferences.
Dynamic Plotting: View low and high levels, alongside the selected Fibonacci levels, for better decision-making.
This tool is designed for traders who wish to apply advanced Fibonacci analysis to identify potential support and resistance zones based on custom parameters.
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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