OPEN-SOURCE SCRIPT
Auto DayWeekMonth Fib Levels R2 by JustUncleL
Updated
This indicator automatically draws up to Three Sets of Fibonacci Pivot levels based on the previous Candle period's Range (High-Low). The HLC3 is used as the default Pivotal level. Only the most Recent period Candle Levels are displayed. The longer Weekly and Monthly sets are particularly useful in finding long term Supply and Demand levels.
The three sets of selectable periods are spit into the following sets:
Each set has the option to display Extension levels.
The Pivotal Level HLC3 and Range = (High - Low), are extracted from previous Period Candle.
FIB LEVELS Colours (same in each period set):
The three sets of selectable periods are spit into the following sets:
- Daily Set (1,2,3,4,5,7,10 or 14 Days)
- Weekly Set (1,2,3,4,5,10, or 13 Weeks)
- Monthly Set (1,2,3,4,5,6,9 or 12 months)
Each set has the option to display Extension levels.
The Pivotal Level HLC3 and Range = (High - Low), are extracted from previous Period Candle.
FIB LEVELS Colours (same in each period set):
- Yellow = Pivot and Pivot Zone (HLC3 by default)
- Fuchsia = R1,S1 Levels 0.368 * Range
- Lime = R2,S2 Levels 0.618 * Range
- Red = R3,S3 Levels 0.786 * Range
- Aqua = R4,S4 Levels 1.000 * Range
- Green = R5,S5 Levels 1.236 * Range
- Orange = R6,S6 Levels 1.382 * Range
- Black = R7,S7 Levels 1.618 * Range
- Maroon = R8,S8 Levels 2.000 * Range
Release Notes
R3 Patch- Change "tickerid" to "ticker" in security calls, this allows script to work with Renko charts.
Release Notes
Minor change- Simplified the last candle test.
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.
JustUncleL
Disclaimer
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