OPEN-SOURCE SCRIPT
FiboBars Extended
A trend indicator FiboBars Extended, the main purpose of which is to confirm the trend and cut off market noise. In his logic, he uses the Fibonacci sequence.
Two settings are used to account for noise suppression accuracy:
Two settings are used to account for noise suppression accuracy:
- Period - number of calculation bars
- Level - Fibonacci number selection
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 publication is governed by House rules. You can favorite it to use it on a chart.
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