Major Minor Fib Points

1 thg 6, 2016

Hey guys I made this indicator that plots major and minor lows based on the candle duration since it's last seen a lower low or higher high.

I made this after watching a seminar and seeing it as a way to simply, easily and naturally find the plot points for fibonacci retracements and extentions.

Blue dots are Major, Purple are Minor.

The dots only appear if there has not been a newly established low or high in the default(13) periods (for Major) before or after that candle. This is done to make the pivot candle clear and less subjective. The periods are also changeable in the format icon.

Let me know what if you like/hate it. It's just another indicator and is only a visual tool. But I hope it helps. I hope it helps me as well!

13 thg 11, 2020

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Update: made shapes auto size now

18 thg 11, 2020

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Added alerts on request