TraderDemircan Fibonacci + XABCD Formation v1.0

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This indicator automatically identifies the most recent significant swing low (Point X) and the subsequent swing high (Point A) to plot a comprehensive set of Fibonacci extension levels.

Beyond a standard Fibonacci tool, this script also projects a potential harmonic XABCD pattern. It identifies a retracement level (Point B) and projects a "C" target based on the XA=BC price projection. This provides traders with a complete visual framework of key support/resistance levels and potential price targets based on the last significant impulse move.

How It Works
Swing Detection (X & A Points): The script scans the previous Lookback Bars (user-defined) to find the lowest low, which it labels as Point X. It then finds the highest high that occurred after Point X, labeling it as Point A.

Fibonacci Levels: The price range between X and A (the "XA leg") is used as the basis (0.0 to 1.0) to draw 18 different Fibonacci levels, including key extensions (1.272, 1.618, 2.618, etc.) and retracements.

XABCD Projection (B & C Points):

Point B: The script dynamically identifies Point B at either the 0.382 or 0.5 retracement level of the XA leg, depending on the current price action. This shows the level that is currently acting as support.

Point C (Target): A target (Point C) is projected by adding the price range of the XA leg to the B point. This creates a classic XA=BC (or AB=CD, where the first leg is XA) price projection, offering a potential target for the next upward move.

Key Features
Automatic Swing Detection: Automatically finds and plots the X and A points, adapting to the latest price action.

Comprehensive Fibonacci Suite: Includes 18 toggleable Fibonacci levels (from 0.0 to 4.618) to cover all common retracement and extension targets.

XABCD Pattern & Target: Visually plots the X-A, A-B, and the projected B-C legs, clearly highlighting the C target.

Dynamic "B" Point: The B point label (0.382 or 0.5) updates to reflect which retracement level is currently in play.

On-Screen Info Table: A clean table in the top-right corner displays the exact price values for X, A, B, and the C Target for quick reference.

Full Customization: Users can control the visibility, color, width, and style of every Fibonacci level and pattern line.

Label Options: Toggle price labels (on the right) and percentage/level labels (on the left) for a clean or detailed chart.

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Phát hành các Ghi chú

Update: Visual improvements to the labels for user experience

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Phát hành các Ghi chú

Update: Visual improvements to the labels for user experience