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BoneFunkenstein
Aug 24, 2021 4:34 PM

Fibonacci Levels 

Bitcoin / U.S. dollarBitstamp

Description

The 420 VWMA (Volume Weighted Moving Average) per period selected of the low price (Fib 0) and the high price (Fib 1). They are labeled in Color of the line they represent.
The other Fib lines are calculated using common fib ratios as follows:

longRange_fib2618 = highestHighperLongRange +
(highestHighperLongRange - lowestLowperLongRange) * 1.618
longRange_fib1618 = highestHighperLongRange +
(highestHighperLongRange - lowestLowperLongRange) * .618
longRange_fib786 = highestHighperLongRange -
(highestHighperLongRange - lowestLowperLongRange) * 0.236
longRange_fib618 = highestHighperLongRange -
(highestHighperLongRange - lowestLowperLongRange) * 0.382
longRange_fib50 = highestHighperLongRange -
(highestHighperLongRange - lowestLowperLongRange) * 0.500
longRange_fib382 = highestHighperLongRange -
(highestHighperLongRange - lowestLowperLongRange) * 0.618
longRange_fib236 = highestHighperLongRange -
(highestHighperLongRange - lowestLowperLongRange) * 0.764

Those lines are drawn and labeled to right of chart

The 2 heavy whites and the short range of the Fib1 (Top) and Fib0 (Bottom). Eyes on chart when it approaches one those two points. This is where I look for continuation or reversal patterns, especially near a Longterm Fib

The Red, Green, Yellow and Blue are colored ratio lines that I am experimenting with and will later combine with a multiple time frames to show discernable patterns of potential near future movements.

The prices interacts with the fib lines and each of the the colored ratio lines as you go from small to larger time frames.

I will be publishing this soon to allow the community to improve on it.
Comments
BoneFunkenstein
Please like and share with as many people as possible
ToTheMoon-69-
I really like this script! Thank you for contributing to the community with this. cheers
pablo36
thank you man for this indicator
IIT-Trader
Thank you so much yaar
BoneFunkenstein
@PraveenPrathi, you are welcome!
brett0
Oh wow, man. This is really generous of you. Thanks so much!
BoneFunkenstein
@brett0, it is my hope that more people see this and add it to their arsenal of indicators
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