So I decided to solve that issue with Rolling where I calculate not at the end of the period but for every bar. Every time recalculating I look at a window of period length in bars and base my calculations on these bars. This way you get smooth changing with every bar and it seems like levels might be really nice for the price.
I implemented 6 periods: Auto, Day, Week, Month, Quarter, Year. For the Auto period, I select the most suitable period for the timeframe of your chart.
On the chart, you can see by default 7 levels plotted:
- PP –
- S1 – Support on 0.382 fib level
- S2 – Support on 0.618 fib level
- S3 – Support on 1.000 fib level
- R1 – Resistance on 0.382 fib level
- R2 – Resistance on 0.618 fib level
- R3 – Resistance on 1.000 fib level
Also in parameters you can display additional midpoints:
- S0.5 – Support on 0.236 fib level
- S1.5 – Support on 0.500 fib level
- S2.5 – Support on 0.786 fib level
- R0.5 – Resistance on 0.236 fib level
- R1.5 – Resistance on 0.500 fib level
- R2.5 – Resistance on 0.786 fib level
It's a pro indicator, you can have access to it for a small fee. Link to my PRO indicators you can find in my signature.
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as good as in historical backtesting.
This post and the script don’t provide any financial advice.
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