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

Get in touch with me if you would like access to my Premium scripts for a trial before deciding on lifetime access.

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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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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