OPEN-SOURCE SCRIPT
Fibonacci Candlestick - AYNET
How It Works
Inputs:
ltf_timeframe: Specify the timeframe for candlestick data (e.g., 1H, 4H).
Fibonacci Levels:
Toggle Fibonacci level visibility (show_fib_levels).
Customize Fibonacci line color (fib_color) and width (fib_width).
Candlestick Data:
Fetches open, high, low, and close prices for the specified timeframe using request.security.
Fibonacci Levels:
Calculates standard Fibonacci retracement levels (0.0, 23.6%, 38.2%, 50%, 61.8%, 78.6%, 100%) for each candle's high-low range.
Draws horizontal lines for each level using line.new.
Candlestick Visualization:
Plots lower timeframe candles with customizable bullish and bearish colors.
Key Features
Dynamic Fibonacci Levels:
Fibonacci levels are recalculated for each candlestick's high-low range.
Levels update dynamically with new candles.
Candlestick Overlay:
Visualizes candlestick data from the specified timeframe directly on the current chart.
Customizable Appearance:
Configure colors for Fibonacci levels, candlestick bodies, and wicks.
Use Cases
Microstructure Analysis:
Analyze individual candlesticks with their Fibonacci retracements for potential support/resistance zones.
Multi-Timeframe Trading:
Overlay candlestick and Fibonacci data from a lower timeframe onto a higher timeframe chart.
Let me know if you'd like further enhancements or explanations! 😊
Inputs:
ltf_timeframe: Specify the timeframe for candlestick data (e.g., 1H, 4H).
Fibonacci Levels:
Toggle Fibonacci level visibility (show_fib_levels).
Customize Fibonacci line color (fib_color) and width (fib_width).
Candlestick Data:
Fetches open, high, low, and close prices for the specified timeframe using request.security.
Fibonacci Levels:
Calculates standard Fibonacci retracement levels (0.0, 23.6%, 38.2%, 50%, 61.8%, 78.6%, 100%) for each candle's high-low range.
Draws horizontal lines for each level using line.new.
Candlestick Visualization:
Plots lower timeframe candles with customizable bullish and bearish colors.
Key Features
Dynamic Fibonacci Levels:
Fibonacci levels are recalculated for each candlestick's high-low range.
Levels update dynamically with new candles.
Candlestick Overlay:
Visualizes candlestick data from the specified timeframe directly on the current chart.
Customizable Appearance:
Configure colors for Fibonacci levels, candlestick bodies, and wicks.
Use Cases
Microstructure Analysis:
Analyze individual candlesticks with their Fibonacci retracements for potential support/resistance zones.
Multi-Timeframe Trading:
Overlay candlestick and Fibonacci data from a lower timeframe onto a higher timeframe chart.
Let me know if you'd like further enhancements or explanations! 😊
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.
Want to use this script on a chart?
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.