LonesomeTheBlue

ZigZag with Fibonacci Levels

Hello Traders,

This is "ZigZag with Fibonacci Levels" script. It finds the ZigZag , draw Fibonacci lines and put labels accordingly. I get many requests for this script, so here it is.

You can set ZigZag period as you wish. Bigger numbers (such 20, 30) may give better perspective and result.

It draws Fibonacci levels between 0%-100% and If the price goes higher/lower than 100% level than the script draws Fibonacci Levels accordingly. This means it draws Fibonacci levels until this levels get higher/lower than the price.

As an example:

if you don't want to see ZigZag Lines then you have option to disable it and see only Fibonacci levels:

You have coloring options for Zigzag , Fibonacci lines and texts:


Enjoy!




Release Notes: Added Price Levels to the labels.
Release Notes: - You have now option to enable/disable following Fibonnaci Levels:
---> 0.236
---> 0.382
---> 0.500
---> 0.618
---> 0.786
- "Label Location" option added. Fibonacci levels can be shown at Left or Right. when the session is closed then labels at right may not be shown accordingly.

An example: some fibonacci levels disabled, also labeling at right.
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.

Want to use this script on a chart?

Comments

Boy oh boy, this is a godsend.

Thanks! =D
100 coins
+2 Reply
Thanks. Someone should make strategy from this!
+8 Reply
Very Nice automation of the fib tool!!

Gr, JD.
+7 Reply
@Duyck, Thank you mate :)
+2 Reply
Ismimin tarihe yazilmasi lazim Abi, ellerine emegine saglik....
+4 Reply
@indifati, Abim makine gibi... durmuyor... Eline sağlık hocam <3
+1 Reply
Just added fib to my charts. My my favorite guy makes one. Can trader life get any better? Lol
+3 Reply
One more nice addition to your publications, thank you ^^
+3 Reply
Tam bir kod makinasisin ustad. Eline saglik.
+3 Reply
Best Fibo in my life!
+2 Reply