PROTECTED SOURCE SCRIPT
SPY-190.225 to 266.625 (STF) - Maroon, Green, White (SPY)
This is a Shorter Time Frame Fib level indicator. To be used with Longer Time frame Indicator. Though it can be used independently. It shows where the market is looking to go and where it has been. When the market get above one level ( white bar, for example) look for price action to continue to the next level. If it breaks below the white bar look for it to go the next level below for support. It is fractal in nature. It is fib levels inside longer time frame fib levels. I hope it will impress! It is great for having targets. It helps in knowing why the market may continue in a direction. For example: When the price action has already moved up, why does it keep going up, because it hasn't reached targeted fib level yet. Same reason price action may move lower once it breaks a particular level. It is looking for its fib level support.
Script protégé
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