Alternative to Fibonacci levels. There are actually many such ratios besides the golden ratio and the Fib sequence. This is based on the plastic ratio or the Padovan sequence.
If you wish to use the ratios in the fib tool, the following are the corresponding alternate values :
Thanks a lot for sharing. Will it be possible for you to add the value of each line and perhaps to be able to change the line colors, this will make the indicator more slick. Once question, I have observed that sometimes the indicator does not take the lowest low and HH to plot the sequences and takes some random point which is not the lowest point. cheers
rumpypumpydumpy
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@NetoDav, I've made another update, could you please remove the indicator and add it again, and if necessary, check with the date range tool that the high/lows you are looking at are within the lookback period?
NetoDav
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thanks
MargD
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Love this one, thanks so much x
walkwalk
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do you think this.could be used for lower time ?
xaxaviere
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Hi, any chance to offset the lines to see the chart clean?
dgtrd
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wow, so brilliantly plotted
rumpypumpydumpy
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@dgtrd, you're too kind, I think it is better now though, I wasn't happy with the first version
dgtrd
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@rumpypumpydumpy, once suggestion if i may ;-)
when you are in auto scale the higher levels makes the chart to squeeze.
just tried with 5 or 6 iterations in your brilliant way of plotting the lines within for loop and no squeeze observed.
my suggestion is plot first 6 or 7 lines by default and rest optionally
cheers
rumpypumpydumpy
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@dgtrd, Thanks for your suggestion, I'd forgotten about rendering with "scale price chart only" off. Should be all good now :)