Vegas Tunnel — Indicator by SandroTurriate

This indicator adds and subtracts fib levels from the moving average. I suppose profits are meant to be taken at certain levels. Additionally, it may help in finding tops and bottoms. There's more info here:

The fib levels should be changed depending on time frame:
short) 5, 8, 13, 21
intermediate) 34, 55, 89, 144
long) 55, 89, 144, 233

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.

Disclaimer

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Want to use this script on a chart?

study("Vegas Tunnel", overlay=true)
length = input(21, minval=1)
fib1 = input(55)
fib2 = input(89)
fib3 = input(144)
fib4 = input(233)

avg = ema(close, length)

fp1 = syminfo.mintick*fib1
fp2 = syminfo.mintick*fib2
fp3 = syminfo.mintick*fib3
fp4 = syminfo.mintick*fib4
plot(avg, color=fuchsia, linewidth=2)

plot(avg + fp1)
plot(avg + fp2)
plot(avg + fp3)
plot(avg + fp4)

plot(avg - fp1)
plot(avg - fp2)
plot(avg - fp3)
plot(avg - fp4)