Fibonacci Pivot Oscillator

FIB PIVOT OSCILLATOR - Price Position Indicator

See exactly WHERE your price sits between Fibonacci pivot levels. This oscillator normalizes price position relative to classic Pivot Points, giving you a clear view of market structure.

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📊 WHAT DOES IT DO?

Instead of cluttering your chart with multiple pivot lines, this indicator displays a single oscillator showing WHERE price is within the pivot range. Instantly see if price is in support or resistance territory.

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⚙️ HOW IT WORKS

1. Calculates Standard Pivot Point from previous period:
Pivot = (High + Low + Close) / 3

2. Applies Fibonacci ratios to determine Support/Resistance levels:
• R1/S1 = Pivot ± (Range × 38.2%)
• R2/S2 = Pivot ± (Range × 61.8%)
• R3/S3 = Pivot ± (Range × 100%)

3. Normalizes current price position on a fixed scale:
• +100 = Price at R3 (100% Fib extension)
• +61.8 = Price at R2
• +38.2 = Price at R1
• 0 = Price at Pivot Point
• -38.2 = Price at S1
• -61.8 = Price at S2
• -100 = Price at S3

4. Adds a 9-period EMA signal line for momentum confirmation

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🎯 SIGNALS

- BUY: Price crosses ABOVE the Pivot (oscillator crosses above 0)
- SELL: Price crosses BELOW the Pivot (oscillator crosses below 0)
- Optional: Display all Fibonacci level crossings

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📈 HOW TO USE

- Oscillator > 0 → Price in RESISTANCE zone (bullish bias)
- Oscillator < 0 → Price in SUPPORT zone (bearish bias)
- Extreme values (±100) → Price at major Fib levels, watch for reversals
- Histogram color intensity reflects momentum strength
- Use signal line crossovers for additional confirmation

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⚙️ SETTINGS

- Period: Daily, Weekly, or Monthly pivot calculation
- Display: Toggle histogram, position line, zones, info table
- Signals: Show/hide BUY/SELL and secondary Fib crossings

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🔔 ALERTS INCLUDED

- Pivot crossover (main BUY/SELL)
- R1, R2, R3 breakouts
- S1, S2, S3 breakdowns