benchch

Major Minor Fib Points

615 16 81
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!
Remove from Favorite Scripts Add to Favorite Scripts
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)
AhmetAlperOzen
6 months ago
where to use this script? MT4?
+1 Reply
benchch AhmetAlperOzen
6 months ago
On tradingview! under indicators it's called: Major Minor Fib Points.

Sorry first post not sure how publishing an indicator works.
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AhmetAlperOzen benchch
6 months ago
Thank you ..
Reply
AhmetAlperOzen benchch
6 months ago
do you have a divergence indicator script?
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benchch AhmetAlperOzen
6 months ago
No I usually use stochastics to look for divergence. But i'm trying the macd 4c by vkno422 on tradingview also, because it seems like a lot of people endorse it on here.

I just looked for you and there already is divergence indicator on the indicators list on tradingview. But I haven't used so can't vouch for it. Check it out.
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AhmetAlperOzen benchch
6 months ago
thank you for giving time to me ...
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djpark111
6 months ago
is it dots size change?
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benchch djpark111
6 months ago
The dots are all the same size. Do you need the dots a larger size? I can probably add it. You can change the dot colour in settings to make them more visible
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djpark111 benchch
6 months ago
THX, Very much~~~^^
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djpark111 benchch
6 months ago
lable change! ^^ size up ok!!
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benchch djpark111
6 months ago
Major Minor Fib Points Large
There you go. The circles are larger. You can change the shape by pressing the format button on "FibP" in the list of indicators in the top left of the chart screen. Then going to the style tab.
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karabogerald
6 months ago
Dope Stuff, Thanks Man.
Reply
Bornleader
2 days ago
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
Reply
benchch Bornleader
a day ago
@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 >>
Major Minor Fib Points Large


Hope that's useful for you
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Bornleader benchch
18 hours ago
@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
18 hours ago
@benchch, i can see that now sir thanks a ton excellent job
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