The lines of the upper and lower , the areas are also highlighted.
Customisable Fib Length - Time period over which max and min are chosen.
Offsetfib - Automatically offsets the 50% region and as your entry position
will be some time after the upper and lower are set.
Works well when used in combination with an oscillator which highlights Divergence.
A strategy based off buying the 50% with a defined stop loss and target can be the basis of your strategy.
This tool will automatically plot those points but a defined Risk Management strategy will always be needed.
Works best in trends but will work on all timeframes ( correction in downtrend also possible).
Previous shown but be careful to identify which of the several you are using.
Start at a larger timeframe and move down as necessary.
and retracements are dynamic. Be sure to note your entry and targets.
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact crypto_0sam0 for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.
Warning: please read before requesting access.