TradeChartist

Simple Fibonacci Retracement

Simple Fibonacci Retracement is a free and easy to use script to plot Fibonacci levels, for any assets like Stocks, Forex, Commodities , Cryptocurrencies etc. on any time frame chart.

Fibonacci Levels can be plotted using Lookback or manual Price input from the settings.

1. Lookback type - Candles

Determines the High and Low price of the user input number of Candles back (100 default) and plots Fibonacci Levels based on the calculated High and Low for the number of candles in the past from the current candle. The levels stay intact on any time frame as long as no new Highs or Lows are formed.

2. Lookback type - Days

Determines the High and Low price of the user input number of Days back (100 default) and plots Fibonacci Levels based on the calculated High and Low for the number of days in the past from the day of the current bar. The levels stay intact on any time frame as long as no new Highs or Lows are formed.

3. Manual Price Input

Plots Fibonacci Levels based on the user specified High and Low Price in the settings input fields. The levels stay intact on any time frame irrespective of new Highs or Lows being formed. Manual Price Input will enable the trader to keep the Levels intact and visually see the higher Fibonacci Retracement levels, when the price crosses beyond 100% retracement. On the other two lookback types, the Fibonacci levels are displayed only upto 100% retracement.

The Fibonacci levels can also be reversed by enabling 'Reverse' option from the settings.
Release Notes: Code updated
Release Notes: Added

1. Line Style, Width and Transparency options for Fib Lines/Labels.
2. Option to show 0.886 and 1.113 Fib levels
Release Notes: Added

1. New Pine color input option from settings
2. Fib level label for current close price
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Comments

Great tool!

I tried to modify it in order to set sessions (1700-1700) for how it should operate, but as a rookie in pine script it seems I stumble across an issue that says "the study references too many candles in history"

I added the following:
FPeriod = timeframe.isintraday and Foption=="2. Days"? time("1440", "1700-1700"):

Any suggestion for how I could avoid the error message?

Thanks in advance :)
+1 Reply
Very, very handy. Thank you!
+1 Reply
TradeChartist faith_defender
@faith_defender, Thank you and all the best.
Reply
One of the most fantastic tools to add to your arsenal of weapons ! My new favourite indicator by far. Perfect for any Time Frame. Really love it. Great work !!
+1 Reply
@Sanctom, Thank you for your support and ideas. Check the updated code.

Added:

1. New Pine color input option from settings - You can change opacity also.
2. Fib level label for current close price - based on where the current price is in relation to the Fib high/low
Reply
GREAT JOB SIR
+1 Reply
TradeChartist sayandofx
@sayandofx, Thank you.
Reply
the best one , thank you
+1 Reply
TradeChartist uniconzraj
@uniconzraj, Thank you
Reply
Hello Sir, can the indicator be used in the stock trading?
+1 Reply
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