Allows users to receive alerts when price reach a new Fibonacci level.
By default, the Fibonacci levels extend upwards. This can be changed to extend downwards by unchecking 'Extend Upwards' option.
Usage:
- Perform a Fib extension analysis and determine a high value, low value and direction of extension - Add indicator and specify these values
- Optionally, to view the levels used by the indicator on the main chart, copy the indicator source and: - Set overlayed = true - Set highPrice and lowPrice to your determined values (optional, but will save re-entering them later) - Add to chart - This will show you the exact levels used by the indicator - Set overlayed = false - Remove and re-add the indicator
how to use it.. is it have to draw fibonachi on chart 1st or no need
mgibson91
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NOTE: This script has been updated. Version 2 plots the alerts on the main chart allowing to see the fib lines used by the indicator as well as buy and sell markers next to the triggering candles.