FibVIP Strategy
The default colors I like to use can be changed to whatever you want. The numbers inputted are based on volume.
Bullish momentum in ascending order is 21 = white, 13 = blue, 8 = green.
Bearish momentum descending order is 89 = red, 55 = yellow, 34 = purple.
Immediate momentum 1 = orange, 2 = blue, 3 = neon green, 5 = lime.
Four high, mid high, mid low & low dashed channel lines with transparent fill colors lime, green, maroon & red.
Also, there's a gray zero line & white dynamic horizontal dotted line to help keep momentum in perspective.
The most bullish signal is when all colors are in a top-down order 1, 2, 3, 5, 8, 13, 21, 34, 55, 89. The most bearish signal is when all colors are reversed and have a bottom-up order of 89, 55, 34, 21, 13, 8, 5, 3, 2, 1.
A crossover, cross-under, divergence or convergence of these colors, help signal the future price action. For example, green crossing over red is bullish, but green crossing under red is bearish.
If colors are low / below the zero line that's bearish and if they are above the zero line, that's bullish.
The FibVIP works great as a leading indicator to confirm future price action of the underlying security momentum.
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Author's instructions
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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 Options360 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
Warning: please read our guide for invite-only scripts before requesting access.
tradingview.com/u/Options360/