OPEN-SOURCE SCRIPT
FibLines and pivot points
This indicator integrates Fibonacci retracements and pivot points to identify potential support and resistance levels for trading decisions. The script calculates pivot points using standard formulas (Classic, Fibonacci, Woodie, or Camarilla) and overlays Fibonacci retracement levels based on recent price swings.
Key Features:
How It Works:
This indicator helps traders spot potential reversal or breakout areas by leveraging the strength of both Fibonacci and pivot points.
Key Features:
- Pivot Points Calculation: Computes support and resistance levels using the chosen pivot formula.
- Fibonacci Retracements: Automatically plots retracement levels from recent highs and lows.
- Confluence Zones: Highlights areas where Fibonacci levels align with pivot points for stronger signals.
- Customization: Allows traders to select different pivot types, timeframes, and Fibonacci settings.
- Alerts & Signals: Generates alerts when price approaches a significant confluence zone.
How It Works:
- Detects recent highs and lows for Fibonacci retracement calculation.
- Computes pivot points and their support/resistance levels.
- Identifies key Fibonacci levels (e.g., 23.6%, 38.2%, 50%, 61.8%, 78.6%).
- Plots both sets of levels on the chart, highlighting overlapping zones.
- Provides visual signals & alerts when price interacts with these levels.
This indicator helps traders spot potential reversal or breakout areas by leveraging the strength of both Fibonacci and pivot points.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.