OPEN-SOURCE SCRIPT
Linear and Logarithmic Fibonacci Levels and Fans
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Introduction
The Fibonacci Retracement tool is a go-to for traders looking to spot potential support and resistance levels. By measuring the distance between swing highs and lows, you can apply Fibonacci ratios like 0.236, 0.382, and 0.618 to predict key market levels.
Traditionally, these levels are set by dividing this distance into equal parts—known as Linear Levels. A more refined approach, Logarithmic Levels, divides the distance into proportionally equal segments. Plus, this indicator now includes Fibonacci fans, adding another layer of analysis by projecting potential price levels using trendlines based on Fibonacci ratios.
This tool makes it easier to identify both Linear and Logarithmic levels while also leveraging Fibonacci fans for a more complete market view.
Applications
Logarithmic Levels and Fibonacci fans are ideal for volatile markets. In crypto, they’re especially effective for
BTCUSDT (check out the wick from January 23, 2024). They also help spot accumulation and distribution patterns in high-volume altcoins like 
FETUSDT. In traditional markets, they’re useful for tracking stocks like 
TSLA and 
NVDA with extreme price swings, as well as indices in inflation-affected markets like 
XU100, or recession-hit currency pairs like 
JPYUSD.
How to Use
This indicator is intuitive and similar to TradingView’s Fibonacci Tool. Select your reference levels (Level 1 and Level 0), then tweak the settings to customize your analysis, including adding Fibonacci fans for extra insights.
Why It’s Different
Unlike TradingView’s tool, which forces you to switch to a logarithmic scale (messing with other indicators and trend lines), this indicator lets you view both Linear and Logarithmic levels—and Fibonacci fans—without changing your chart’s scale. The original Fibonacci Code was derived from zekicanozkanli, modified and upgraded to plot fib fans as well.
The Fibonacci Retracement tool is a go-to for traders looking to spot potential support and resistance levels. By measuring the distance between swing highs and lows, you can apply Fibonacci ratios like 0.236, 0.382, and 0.618 to predict key market levels.
Traditionally, these levels are set by dividing this distance into equal parts—known as Linear Levels. A more refined approach, Logarithmic Levels, divides the distance into proportionally equal segments. Plus, this indicator now includes Fibonacci fans, adding another layer of analysis by projecting potential price levels using trendlines based on Fibonacci ratios.
This tool makes it easier to identify both Linear and Logarithmic levels while also leveraging Fibonacci fans for a more complete market view.
Applications
Logarithmic Levels and Fibonacci fans are ideal for volatile markets. In crypto, they’re especially effective for
BTCUSDT (check out the wick from January 23, 2024). They also help spot accumulation and distribution patterns in high-volume altcoins like FETUSDT. In traditional markets, they’re useful for tracking stocks like TSLA and NVDA with extreme price swings, as well as indices in inflation-affected markets like XU100, or recession-hit currency pairs like JPYUSD.How to Use
This indicator is intuitive and similar to TradingView’s Fibonacci Tool. Select your reference levels (Level 1 and Level 0), then tweak the settings to customize your analysis, including adding Fibonacci fans for extra insights.
Why It’s Different
Unlike TradingView’s tool, which forces you to switch to a logarithmic scale (messing with other indicators and trend lines), this indicator lets you view both Linear and Logarithmic levels—and Fibonacci fans—without changing your chart’s scale. The original Fibonacci Code was derived from zekicanozkanli, modified and upgraded to plot fib fans as well.
Notes de version
Fixed mode to lower timeframe fib vannish.Notes de version
Added Option to extend FibFan left.Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
Vous voulez utiliser ce script sur un graphique ?
Automated Trading Algorithms: discord.gg/xuKHyhPKS6
Tutorials-YouTube: youtube.com/channel/UCJH8wJ8Ab_O-HTb0wrrtAKQ
Mathematical papers:
algoalert.net/pdfs/fourier.pdf
algoalert.net/pdfs/IEEEwavelet.pdf
Tutorials-YouTube: youtube.com/channel/UCJH8wJ8Ab_O-HTb0wrrtAKQ
Mathematical papers:
algoalert.net/pdfs/fourier.pdf
algoalert.net/pdfs/IEEEwavelet.pdf
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