Pivots Fibonacci Retracement

This is a Fibonacci Retracement indicator based on Pivots .

The Fibonacci lines are always drawn between the LAST High Pivot (Red Triangle Down) and the LAST Low Pivot (Green Triangle Up)

Every time a new High or Low Pivot is found, the Fibonacci lines changes.

"RightBars" & "LeftBars" from Pivots are kept the same > "Bars"
In this example ( BTCUSDT ) the "Bars" are set as 10 (= period "Left" & "Right" where "Highs" & "Lows" are found):

This is the bigger picture:

If the settings are changed, for example "Bars" > 30, the Fibonacci lines are placed on different points:

If we need to take the previous "Low" Pivot ("Bars" > 45):

You see you need to change the "Bars" a bit to get what you want.

The extended Fibonacci levels (1.618 & 2) and (-0.618 & -1) are also included,
these can be used for future "Target-lines":

IF there is a NEW Pivot ("High" or "Low") which is visible because the Fibonacci lines HAVEN'T passed the "Red Triangle Down" or "Green Triangle Up" YET,
please WAIT until the close of that period, otherwise the "Triangle" possibly could still disappear again.

The dashed coloured lines and coloured Fibonacci numbers at the right are for easier readings and interpretation.

Nov 18
Release Notes: Just changed the TEXT of the Fibonacci lines so ALERTS are much more easier set (just look at the "numbers" now)
Nov 18
Release Notes: First of all, a "Resolution" script is added > Settings > Inputs > "Resolution ON/OFF"
- When ON, you can choose the Resolution/ Time-frame (1', 3', 5', 15', 30', 60', 120', 180', 240', D, W, M)
so you can see the W data while looking at a 1h chart for example.
- When OFF, the values are of presently used Time-frame.

For example > BTC/USDT "D" (Day), "Resolution" OFF

And here > BTC/USDT "D" (Day), "Resolution" ON > "M" (Month)

The lines at the right are adjusted, they can be removed (Settings > Inputs > "Show Last" = OFF, "Show All" = ON):

Otherwise the Fib lines can be disabled as well, only leaving the lines at the right visible (Settings > Inputs > "Show Last" = ON, "Show All" = OFF),
here the last 5 values (= adjustable > Settings > Inputs > "Show Last - Period", defval=5) are shown (offset=0 in this case):

Here with the last 10 values:

Here with the last 20 values:

The Offset is also adjustable, here the last 10 values are shown with an offset of 10
(since the calculation was with 10 (Right & Left)Bars):

And here the offset is 0, shifting the lines to the present candles,
so a better interpretation can be made:

Be aware, shifting these last lines (to the right) could possible cause wrong conclusions,
if the offset is the same as the "Bars" period, it is correct,
if the offset is less then the "Bars" period, those lines are not calculated for these latest bars
and should only be used as a visibility - interpretation aid!

Thank you!
Nov 18
Release Notes: Created 2 Alerts
- Pivot High Alert
- Pivot Low Alert

Now you can just choose:

"Condition" > "PivFibR" > "Pivot High Alert" or "Pivot Low Alert"
Nov 20
Release Notes: I've seen that some like to put their Fibonacci lines on the highest/lowest candles WITHOUT the WICK,
hence I added this extra feature, hope you like it!

- when "'NO WICK' "
= ON > as you might have guessed :-) > Calculations ignores the wick
= OFF > calculations made with the highest/lowest (wick) prices
Nov 23
Release Notes: Hi!

Thanks to the help of “JJosuke” I have a better understanding what is seen as “repainting”
Although there is NO repainting, I understand now it is very easy to see this as repainting.

I’m going to explain further how this script works, and hope this will help!

Every “Bar” will compare itself against “Bars” at the “Left” and at the “Right”. Why?
Because it needs to be sure it is the “Highest” or “Lowest” in its “terratorium”.

Let’s say every new “Bar” will compare itself against 10 “Bars” at the “Left” (= ”LeftBars”) and 10 “Bars” at the “Right” (=”RightBars”).

Normally at the “Left” there are more than enough “Bars” to compare with (= history),
so every “Bar” can instantly see if it is the “Highest” or “Lowest” of them all! IF this “Bar” is the “Highest” or “Lowest” compared to the “Left” side, it still needs to be compared against the 10 “Bars” at the “Right”! BUT immediately at the “Right” (= future) of this NEW “Bar” there are no 10 “Bars”, now every “Bar” needs to WAIT until there are 10 “Bars” to compare with. Only then, IF this “Bar” still is the “Highest” or “Lowest” compared to the “Left” AND “Right” side, this “Bar” is sure it is the “Highest” or “Lowest” of them all, and ONLY THEN it may produce THE SIGNAL.

During “Bar Replay” or “live”, this is why the signal will be plotted only after 10 “Bars” has appeared after the spoken “Bar”…

Really hope this helps!

Now, why not use less “Bars” at the “Right”, so the signal will appear more quickly?
Well, if this period is too short, for instance only 1 or 2 “Bars”, you’ll get way too many signals. Especially when you do this with the first settings, where the amount of “LeftBars” and “RightBars” always were the same, so in this case 1 or 2 “Bars” at the “Left” and at the “Right”. The “Terratorium” is way too small and signals will pop way too much.
"2 Bars":

The Fibonacci lines will be all over the place.
"1 Bar":

In this new update I tried to fix this, you now can adjust each side separately.
In the default settings I’ve kept the “RightBar” (= future) side short, 3 “Bars” and at the “LeftBar” (= history) side longer, 17 “Bars”, in total 20 “Bars” (“large” enough “Territorium”).

If you like the previous settings, where the amount of “RightBars” equals the ”LeftBars” you can enable the " > Only change 'LeftBars'" button.
Then you only have to adjust the amount of “LeftBars” and the amount of “RightBars” automatically will be the same.

Of course, change every setting as you like.

I do suggest:
- about 3-5 "RightBars" and 15-17 "Leftbars"
- about 10 "RightBars" & 10 "LeftBars"

I also changed the “labels” of the “Pivot” “High” and “Low” since the "Triangle Up/ Down" are easily seen as “go Long” or “go Short” signals, which isn’t the primary function.

The primary function is only to show where the “Highest” and “Lowest” points are in an area, so you can see where the Fibonacci lines came from, it makes it easier to adjust the “Bars” period and get the Fibonacci lines you want (from 'this' or 'that' “Pivot High/Low").
Dec 02
Release Notes: Latest update (2019/12/02):
Added the "most recent occurence pH" and "most recent occurence pL" > Default = '0' (= takes values of "most recent occurence")
It is an easy way to use previous Pivot points, for instance:
You want to see the Fibonacci lines between the most recent "Pivot low" (pL) and the "Pivot high" (pH) 2 "highs" earlier
Then you leave the "most recent occurence pL" at '0' (= most recent occurence of "Pivot low" (pL))
But you change the "most recent occurence pH" from '0' to '2', then you'll see the Fib lines between these 2 points at the right side of the chart and that's it! ;-)


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'm a believer ofthe wyckoff, and I have been in the study and practice of law, quantity and price for me if your product automatic draw support and resistance lines, then I need to do is in front of the former high and low quantity price analysis, then execute the deal, hope you can help me in TV platform installation and set up your software
fikira wang1989
@wang1989, PM send ;-)
wang1989 fikira
@fikira, Click where to send, can you be more specific? I hope to install this indicator today because I am in mainland China and we have time difference. I was trading just now, so I chose to reply the message. Please advise me
Is this an intelligent drawing tool, Sir? Does that mean it automatically draws support and resistance based on past significant prices? Can it be installed on MT5? I am a day trader. Is your plugin applicable to any time cycle? thank you
fikira wang1989
@wang1989, Hi!

It automatically draws the Fibonacci lines every time a new High or Low is found, these Fibonacci lines can indeed be used as S/R.
At the moment I don't have the skills for making a MT5 plugin. If someones does, I will gladly hear how to do so.

Default it uses data of any time frame you're using, when Resolution "ON/OFF" is enabled, it will use data form another (normally best higher) time frame to make the Fibonacci lines,
options are: 1', 3', 5', 15', 30', 60'(1h), 120'(2h), 180'(3h), 240'(4h), D, W, M. If you want another time frame to be added, please tell me ;-)

wang1989 fikira
@fikira, Hello, can you tell me where and how to install and use your indicator? I mainly trade New York gold and the Frankfurt index. Gold is based on 30 minutes and 1 hour and Frankfurt is based on 5 minutes. Could you give me some reasonable Suggestions on adjusting bars? I hope you can teach me how to use this metric
Hello! Thank you very much for such an effective tool, it complements the technical analysis very well. But please tell me what, in your opinion, are the most optimal settings for smaller TFs.
Thanks a lot in advance!
fikira AmirHokage
@AmirHokage, Hi!

Most optimal for me is different than for you of course, but I like the default settings, that said,
changing LeftBars to 19 and RightBars to 1 isn't bad either, you'll get a quicker response, on the 15' TF I also like the results combined with a 60' Resolution,
but possibilities are as many as you like, I suggest to try a few things for a while and change accordingly, thanks!
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