MartyVestor

Martyv Auto Fib Extension with Logarithmic Support

Similar to the Auto Fib Retracement tool - I took the out-of-the-box functionality and added Logarithmic support, as well as nicer colors and easier management of levels. I'm... 90% sure I got the Fib calculations correct. If you see something, say something! Would love any suggestions for improvement.
Release Notes: Updated title.
Release Notes: Updated standard depth to 18 points and set extended lines to default.
Release Notes: Updated a couple defaults.
Release Notes: Adjusted some presets and label spacing.
Release Notes: Made a few tweaks to the log calculations. The reverse function is acting up at the moment, otherwise working like a charm :)
Release Notes: A bit of code rearranging and a fix for log-based fib levels.
Release Notes: Final tweaks to fib calculations and default levels - now working as intended.
Release Notes: Adjusted default lookback period to 9 (can still be changed as needed in settings)
Release Notes: Name change
Release Notes: Added MTF dynamic switches which adjust the lookback period based on the resolution of the current timeframe. The purpose is to try (as much as possible) to have the auto-fib plot a reasonably-sized, actionable extension with me being as lazy as possible so I can use that energy on the deeper analyses. This does not affect the fib calculations at all, simply auto-adjusts the lookback 'depth' (which you can manually change in the settings for more fine-tune control anyways, but the purpose here is to try and whittle down the number of clicks it takes to make the chart easier to interpret at a glance. I imagine this could be useful training wheels for beginners or those just getting into fibs, hopefully. Dunno if anyone else wants that functionality, but it could turn into a teenty tinety edge with more development). As always, I'm looking to improve and learn, so if you see something say something and let's fix it or make it better together! Stay tuned ✌️
Release Notes: Reverse function in logarithmic mode is fixed.
Release Notes: Updated with cleaner inputs for the variable depths.
Release Notes: Some minor changes to clean up the default setup.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Comments

Thank you
Reply
Hello! This is a great script! Very accurate! If you can always have the price tag displayed to the right of the latest candle. If the trend is upward, the two nearest pressure lines are automatically displayed. If the trend is downward, it will automatically display the two nearest support lines to keep the chart clean, which is even better! Thank you for your selfless sharing!
Reply
Thanks so much! You are a amazing coder
Reply
Thank you!
Reply
Well done, keep working
Reply