Auto Fib Retracement-custom lines

7 thg 11

📈 Auto Fib Retracement (with Custom Line Thickness)
This indicator provides an automatic application of Fibonacci Retracement and Extension levels based on key Pivot points on the chart. It uses advanced logic to identify relevant momentum based on user-defined parameters, ensuring dynamic and accurate level drawing without the need for manual measurement.

Key Features of the Indicator ✨
Automatic Drawing: Fibonacci levels are automatically drawn based on the last significant Pivot swing detected by the indicator.

Fibonacci Retracement and Extension: Displays classic retracement levels (such as 0.382, 0.5, 0.618) and extensions (such as 1.272, 1.618, 2.618, etc.), with the option to individually toggle the visibility of each level.

Custom Line Width (New Feature): This is the key added functionality! For every Fibonacci level, an option has been included to individually adjust the line thickness (width). This allows traders to visually highlight (bold) critical support/resistance levels (like 0, 0.618, 1, etc.) to make them more noticeable on the chart.

Pivot Customization: Control the sensitivity of Pivot detection using the "Deviation" and "Depth" parameters.

Line Extension: Options to extend the Fibonacci lines to the left, right, or both sides.

Detail Display: Ability to show/hide Fibonacci values (levels) and prices on the labels.

⚙️ Input Parameters
This indicator offers complete control over how the Fibonacci levels are displayed:

Deviation: A multiplier that affects how much the price must deviate from the previous pivot for a new pivot to be formed. Increasing the value makes the indicator less sensitive; decreasing it makes it more sensitive.

Depth: The minimum number of bars considered when calculating the pivots.

Reverse: Option to reverse the drawing direction (from top to bottom or vice-versa).

Extend Left/Right: Controls the extension of the Fibonacci lines.

Level Settings (0, 0.236, 0.382, 0.5, 0.618, etc.):

Checkbox: Turn the display of each individual Fibonacci level on or off.

Value: Customize the Fibonacci value (e.g., you can change 0.618 to 0.65).

Color: Adjust the line color.

Line Width: Crucial option! Allows you to set the line thickness from 1 to 5. Use this to emphasize the most important levels.

Background Transparency: Adjust the transparency of the background fill between the Fibonacci levels.

How to Use It 💡
This tool is ideal for traders who use Fibonacci Retracement to determine potential areas of support and resistance, profit targets (extensions), and entry zones. Use the Custom Line Width option to visually set apart the key levels you believe have the most significant impact on the market (e.g., 0, 0.5, 0.618, and 1).

4 ngày trước

Phát hành các Ghi chú

levels are better visually arranged