TradeChartist

™TradeChartist Fib Extensions

™TradeChartist Fib Extensions is a free to use script that helps traders plot Fibonacci Extensions on chart. Even though Trading View has a Fib extensions tool, some traders may prefer a plotting script like this with Fib plot lines extending across the whole of the chart to track historic prices in relation to Fib extensions drawn.

----To draw Fib extensions for uptrend,

1. Choose a Pivot Low point (LL or a HL) as Pivot 1
2. Choose a Pivot High point (must be higher than Pivot 1) as Pivot 2
3. Choose a Pivot Low point (must be lower than Pivot 2, must be Higher than Pivot 1)

----To draw Fib extensions for downtrend,

1. Choose a Pivot High point (HH or a LH) as Pivot 1
2. Choose a Pivot Low point (must be lower than Pivot 1) as Pivot 2
3. Choose a Pivot High point (must be higher than Pivot 2 and lower than Pivot 1)


Negative extensions of -23.6% and -61.8% fib plots may be useful for some to spot reversals or to set stop losses.

Higher levels can be used if price goes beyond 161.8%

This is a free to use indicator. Give a thumbs up or leave a comment if you like the script

Check my 'Scripts' page to see other published scripts. Get in touch with me if you would like access to my invite-only scripts for a trial before deciding on a paid access for a period of your choice. Half-Yearly, Annual and Lifetime access available on invite-only scripts along with 1hr Team Viewer intro session.
Release Notes: Code Updated.

Added - Extra Fibs Manual Input option
Added - Fib Line plot Transparency
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
Get in touch with me if you would like access to my Premium scripts for a trial before deciding on lifetime access which includes 1hr Zoom meeting.

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Comments

Hi thanks for this. For some reason the PH and PL don't plot when using the Bar Replay tool...
+3 Reply
TradeChartist MadMoto29
@MadMoto29, Code updated to show all plots on Bar Replay + Added - 3 Extra Fibs using manual input + Line Transparency option.
Reply
hi ,
can i use specific date for each pivot ?
for down trend
ex : pivot 1 12/06/2020 (price 100)
pivot 2 24/06/2020 (price 150)
pivot 3 06/07/2020 (price 210)
+2 Reply
TradeChartist thakkarjinesh
@thakkarjinesh, Unfortunately, I have not coded this with timestamps, but manual input is way easier knowing the highs and lows.
Reply
Comment removed
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