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Fibonacci Levels
Updated
Description
It is used to create Fibonacci levels based on the backward 120/240/360 bar and to detect the bottoms and peaks in that range. The feature can be used by traders who trade at support and resistance. Showing 3 different levels retrospectively in the same time period allows support and resistance levels to be easily seen.
Usage
Different
Seeing the levels of certain retrospective periods together makes it easier to understand where the trend will turn or correct. It also provides simplicity in use with different indicators by being outside of the timeframe.
Works Well Together
Using it together with the "Bollinger Levels" indicator is very useful for taking better positions.
Version
v1.0
It is used to create Fibonacci levels based on the backward 120/240/360 bar and to detect the bottoms and peaks in that range. The feature can be used by traders who trade at support and resistance. Showing 3 different levels retrospectively in the same time period allows support and resistance levels to be easily seen.
- Gray Levels: Gives Fibonacci levels based on the 120 bar time frame.
- Blue Levels: Gives Fibonacci levels based on the 240 bar time frame.
- White Levels: Gives Fibonacci levels according to the 360 bar time frame.
- Top Red Levels: Gives peak levels of 21/28/60/90...300/330/360 bars.
- Bottom Blue Levels: Gives bottom levels of 21/28/60/90...300/330/360 bars.
Usage
- Where the lines are concentrated can serve as good support and resistance. In this case, it would be quite logical to try a position.
- For trend corrections, 38.2%/50%/61.8% Fibonacci levels can be followed as strong support.
Different
Seeing the levels of certain retrospective periods together makes it easier to understand where the trend will turn or correct. It also provides simplicity in use with different indicators by being outside of the timeframe.
Works Well Together
Using it together with the "Bollinger Levels" indicator is very useful for taking better positions.
Version
v1.0
Release Notes
Added 0.886 fibonacci levelsRelease Notes
Rounding display of decimal prices has been adjusted. Numbers with higher decimal values are now rounded correctly.Release Notes
Retracement levels of the downtrend are added with dashed lines. Since the levels 0, 38.2, 50, 61.8, 100 are symmetrical, they are not shown separately.Release Notes
- The levels have been separated to make it more understandable.
- Title information has been changed for clarity.
Release Notes
- Color editing feature has been added to make the texts more understandable, independent of the lines.
Disclaimer
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