RK's 13 - Moving Average with Fibonacci Lines


After some chart measures, I noticed that if we took the difference between fast and slow Moving Average lines and apply the Fibonacci ratios, we get a very reliable support and resistance level for each bar.

So, I made this script to help me (and anyone who wants to use it) know where we should close or put stops in our orders.


Choose your preferred Moving Average type and Lengths;
Select the Fibonacci Ratios and test Reverse Lines option to get better levels.

Other useful input options:
  • Show Labels: Display every Fibonacci Ratio you are using;
  • Labels Offset Position: Place where the Fibonacci Ratio will appear and get the price in that position;
  • Project Moving Average Lines in the Future: Draws project Line in the chart.

• If you put your mouse in the ratio label, it will show the price in that position
• This script works better when the lines are well apart.
Release Notes: █ PATCH NOTES: Version 1.2

  • Fixed a Little Bug that plot NA values as 0.0
  • Put the script link inside the code
Release Notes: Fixed a simple color Bug
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?


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