Introduction Fibonacci levels are a technical analysis tool used by some traders to identify potential support and resistance levels. The principle for determining these levels is to take the distance between selected reference high and low points (swing high and swing low in general) as 1 unit and mark the ratios derived from the Fibonacci sequence, such as...
The xBrat Slingshot Software is designed to identify measured Pull Backs during trends. The Software then identifies two different types of “with trend” trading signals and 1 “trend failure” signal (discussed further down the logic explanation). It is important to know that every pullback is NOT tradeable and a strong set of rules/logic must be used consistently...
█ Overview The Fibonacci Structure & Trend Channel (Expo) is designed to identify trend direction and potential reversal levels and offer insights into price structure based on Fibonacci ratios. The algorithm plots a Fibonacci channel, making it easier for traders to identify potential retracement points. Additionally, the Fibonacci market structure is plotted...
This script will search x-bars back, if it can find a triangle formation that meets certain Fibonacci ratios. Based on the trend-based fib extension tool from the first high to the first low and then the 2nd high (in a bullish structure, inverse for bearish), we can predict the take profit levels. The main target is the 0.618, first take profit is at the 0.236....
This indicator is used to plot the previous high and low of the chosen timeframe along with the Fibonacci levels of 0.50, +/- 0.618 and +/- 0.786. Provision is given to plot levels for three different time frames at a time. Options are given to select/unselect the levels as per the user requirement. For plotting the Fibonacci levels of a specific period, user...
This is a simpler alternative to the auto-fibonacci indicators. Calculates the fibonacci levels based on the all-time high and all-time low prices. Candles are then colored based on the current closing price's relation to the 5 levels.
Every Index, every ETF , every sector started somewhere. That starting point defines Zones that follow that Index, or ETF forever. What i am saying is - everything you are trading has a pre-defined range of movement that was established when the stock Index became available to the market. It is this range that defines specific levels that will always play a...