benchch

Major Minor Fib Points

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Hey guys I made this indicator that plots major and minor lows based on the candle duration since it's last seen a lower low or higher high.

I made this after watching a seminar and seeing it as a way to simply, easily and naturally find the plot points for fibonacci retracements and extentions.

Blue dots are Major, Purple are Minor.

The dots only appear if there has not been a newly established low or high in the default(13) periods (for Major) before or after that candle. This is done to make the pivot candle clear and less subjective. The periods are also changeable in the format icon.

Let me know what if you like/hate it. It's just another indicator and is only a visual tool. But I hope it helps. I hope it helps me as well!
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study("Major Minor Fib Points", "Mm P", overlay=true)
h_left_min = input(title="Minor Value", type=integer, defval=5)

h_left_low_min = lowest(h_left_min)
h_left_high_min = highest(h_left_min)
newlow_min = low <= h_left_low_min
newhigh_min = high >= h_left_high_min

central_bar_low_min = low[h_left_min]
central_bar_high_min = high[h_left_min]
full_zone_low_min = lowest(h_left_min * 2)
full_zone_high_min = highest(h_left_min * 2)
highest_bar_min = central_bar_high_min >= full_zone_high_min
lowest_bar_min = central_bar_low_min <= full_zone_low_min
plotshape(highest_bar_min ? -1 : 0, offset=-h_left_min, style=shape.circle, location=location.abovebar, color=purple)
plotshape(lowest_bar_min ? 1 : 0, offset=-h_left_min, style=shape.circle, location=location.belowbar, color=purple)



h_left = input(title="Major Value", type=integer, defval=13)

h_left_low = lowest(h_left)
h_left_high = highest(h_left)
newlow = low <= h_left_low
newhigh = high >= h_left_high

central_bar_low = low[h_left]
central_bar_high = high[h_left]
full_zone_low = lowest(h_left * 2)
full_zone_high = highest(h_left * 2)
highest_bar = central_bar_high >= full_zone_high
lowest_bar = central_bar_low <= full_zone_low
plotshape(highest_bar ? -1 : 0, offset=-h_left, style=shape.circle, location=location.abovebar, color=blue)
plotshape(lowest_bar ? 1 : 0, offset=-h_left, style=shape.circle, location=location.belowbar, color=blue)
hi does this repaint ?
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You wrote a very good indicator Thumbsup , thank you
Reply
is this repaints
+1 Reply
THanks alot for this...curiously which webinar teaches these pivot points to make trade decisions?
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SIMPLY AMAZING STUFF BUT THE ISSUE THAT I AM FACING IS THAT THE fibonacci POINTS THAT I CAN SEE on the chart are very small i also tried to change it to down arrow up arrow but they are still appearing very small is they any way we can enlarge it Please ? other wise this tools is amazing simply amazing job keep up the good work
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benchch Bornleader
@Bornleader, Hi, I can't seem to code the circles to be customisable sizes in the format area. But someone else did ask for larger version 6 months ago. So the best I can do is point you to that >>


Hope that's useful for you
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Bornleader benchch
@benchch, Sir i am trying to add this indicator but it is not showing in the favorite list ? so you do anything sir ???
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Bornleader benchch
@benchch, i can see that now sir thanks a ton excellent job
Reply
Dope Stuff, Thanks Man.
Reply
is it dots size change?
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