TradeChartist

Simple Fibonacci Retracement

Simple Fibonacci Retracement is a free and easy to use script to plot Fibonacci levels, for any assets like Stocks, Forex, Commodities , Cryptocurrencies etc. on any time frame chart.

Fibonacci Levels can be plotted using Lookback or manual Price input from the settings.

1. Lookback type - Candles

Determines the High and Low price of the user input number of Candles back (100 default) and plots Fibonacci Levels based on the calculated High and Low for the number of candles in the past from the current candle. The levels stay intact on any time frame as long as no new Highs or Lows are formed.

2. Lookback type - Days

Determines the High and Low price of the user input number of Days back (100 default) and plots Fibonacci Levels based on the calculated High and Low for the number of days in the past from the day of the current bar. The levels stay intact on any time frame as long as no new Highs or Lows are formed.

3. Manual Price Input

Plots Fibonacci Levels based on the user specified High and Low Price in the settings input fields. The levels stay intact on any time frame irrespective of new Highs or Lows being formed. Manual Price Input will enable the trader to keep the Levels intact and visually see the higher Fibonacci Retracement levels, when the price crosses beyond 100% retracement. On the other two lookback types, the Fibonacci levels are displayed only upto 100% retracement.

The Fibonacci levels can also be reversed by enabling 'Reverse' option from the settings.
Release Notes: Code updated
Release Notes: Added

1. Line Style, Width and Transparency options for Fib Lines/Labels.
2. Option to show 0.886 and 1.113 Fib levels
Release Notes: Added

1. New Pine color input option from settings
2. Fib level label for current close price
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.

Free Scripts - http://bit.ly/Free-Scripts

Comments

Great tool!

I tried to modify it in order to set sessions (1700-1700) for how it should operate, but as a rookie in pine script it seems I stumble across an issue that says "the study references too many candles in history"

I added the following:
FPeriod = timeframe.isintraday and Foption=="2. Days"? time("1440", "1700-1700"):

Any suggestion for how I could avoid the error message?

Thanks in advance :)
+2 Reply
TradeChartist EivindBRisa
@EivindBRisa, Did you manage to do this? I have not played around with sessions and timestamps yet with the script.
Reply
EivindBRisa TradeChartist
@TradeChartist, No.. not in a successful way... but it would be interesting to try it out as some commodities has some correlation with fib and session!
Reply
Very good job sir..thanks a lot
+1 Reply
@Hariri74, All the best.
Reply
....excellent
+1 Reply
TradeChartist MedsTView
@MedsTView, Thank You. Best Wishes.
Reply
Very, very handy. Thank you!
+1 Reply
TradeChartist faith_defender
@faith_defender, Thank you and all the best.
Reply
One of the most fantastic tools to add to your arsenal of weapons ! My new favourite indicator by far. Perfect for any Time Frame. Really love it. Great work !!
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out