Fibonacci MTF Retracement & Extension levels

2 thg 8

Overview:
This indicator plots Fibonacci retracement and extension levels based on either yesterday's or today's high-low range on a customizable timeframe (default: daily). It is useful for identifying potential support/resistance zones and projecting price targets using Fibonacci ratios.

Features:
Custom Reference Timeframe
Choose any timeframe (e.g., Daily, Weekly, 4H) as the source for high and low calculations.

Flexible Level Source:
Choose to plot either: Yesterday’s Fibonacci levels (default), or Today's real-time Fibonacci levels

Extensive Fibonacci Levels:
Supports both common and extended levels, including: 6.0, -5.618, ..., 0.0, 0.382, 0.618, 1.0, 1.618, ..., 6.0

Customizable Style:
Line width and style (solid, dotted, dashed)
Color-coded for negative, main (0 to 1), and above-1 levels
Adjustable label size, text color, and label position (offset)

Efficient and Clean Visualization:
Automatically clears previous drawings on each new candle of selected timeframe Optimized to prevent clutter and overlap

How It Works:
Yesterday Mode: Plots fib levels based on the high/low of the previous candle on your selected timeframe.
Today Mode: Plots fib levels using the current high/low of the ongoing candle.
All lines and labels automatically refresh at the open of each new candle (on your selected timeframe).

2 thg 8

Phát hành các Ghi chú

Fibonacci MTF – Multi-Timeframe Fibonacci Levels
This script plots dynamic Fibonacci retracement and extension levels based on either today's or yesterday’s price range from a selected reference timeframe (MTF). It's a powerful tool for traders who use Fibonacci levels to identify potential support/resistance zones, reversal areas, or trend continuation levels across different timeframes.

Features
Multi-Timeframe Support
Choose any higher timeframe (e.g., Daily, Weekly, Monthly) as a reference for the high/low range used to calculate Fibonacci levels.

Fibonacci Levels Included

Negative extensions (e.g., -0.618, -1.618, -2.618, etc.)
Standard retracements (0.236, 0.382, 0.5, 0.618, 0.786)
Positive extensions (1.272, 1.618, 2.0, ... up to 6.0)

Customizable Visuals

Line style (solid, dotted, dashed)
Line width
Label color, text size, and horizontal offset

Different colors for negative levels, standard levels (0–1), and extensions above 1

Today's vs Yesterday's Levels
Choose whether to plot Fibonacci levels based on:

Yesterday’s Range (default)
Today’s Range (current in-progress candle)

Automatic Updates
Levels update automatically when a new candle forms on the selected reference timeframe. Old lines/labels are removed and redrawn cleanly.