it based on type of fibs with regular daily fibs (upper =red,lower= blue) and the signal produce by the
the idea is to compare the regular fibs and the type of fibs so it easy in this way to see where the real low and where the real high
the can be set to be faster or shorter for the buy signal. since it open code you can add or change what ever you want
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.