RSI + Fibonacci HH LL Support Resistance

5 thg 10, 2023

I have integrated my past scripts and brushed them up further.

This tool allows for support/resistance, stop loss, take profit, and trend analysis using RSI and Fibonacci ratios.

For example, the Fibonacci ratio is used as follows

Pine Script®

When the Fibonacci ratio reaches 2.618 or higher and the RSI smoothed by the 5-day EMA is oversold/overbought, the bar color is changed by a gradation.

We have tried to make the design as beautiful and good-looking as possible. You can also hide the lines to suit your own preference.

Example usages are here:
BTCUSDT 1Hour Chart
Using Fibonacci numbers




BTCUSDT 15min Chart, for Scalping
Here, to set the highest and lowest prices one hour ago, "4" is substituted as the calculation: 15 minutes x 4 = 60



BTCUSDT 15min Chart, for Scalping
To set the highest and lowest prices 4 hours ago, "4" is substituted as the calculation: 15 minutes x 16 = 240




BTCUSDT 15min Chart, for Scalping
To draw yesterday's high and low as support/resistance lines, I substituted the number "96" as 1440/15=96.



BTCUSDT 1min Chart, for Scalping
Substituted "60" to trail the highest and lowest prices over a 60-minute period on a 1-minute chart, and removed lines to beautify




BTCUSDT 1day Chart, for Long-Term Investers
This is an example of using "90" because it is a 1-day chart and assumes that 3 months = 90 days in order to trail the highest and lowest prices over a 3-month period and no lines.



My past scripts are here:
RSI + FIB HH LL StopLoss Finder／Contrarian Trades
https://jp.tradingview.com/script/MYMna6kI/

Fibonacci HH LL TRAMA Band
https://jp.tradingview.com/script/Y6iGumYx/