OPEN-SOURCE SCRIPT
Fibonacci Levels Strategy with High/Low - AYNET
Higher Timeframe Candles:
Fetches open, high, low, and close from a user-defined higher timeframe using request.security.
Uses plotcandle to draw the higher timeframe candles over the chart.
Fibonacci Levels:
Dynamically calculates Fibonacci levels (0.0 to 1.0) based on the high and low of the higher timeframe candle.
Visualization:
Higher timeframe candles are color-coded:
Green: If the close is higher than the open.
Red: If the close is lower than the open.
Fibonacci levels are plotted as horizontal lines.
Trading Logic:
Example conditions:
Long Entry: When the price crosses above the 50% and 78.6% levels.
Short Entry: When the price crosses below the 50% and 23.6% levels.
Use Cases
Multi-Timeframe Analysis:
Combine lower timeframe price action with higher timeframe trends.
Fibonacci-Based Trading:
Identify key retracement levels for entries and exits.
This script allows for effective visualization of Fibonacci levels and candlestick patterns, enhancing your ability to make informed trading decisions. Let me know if you’d like additional customizations! 😊
Fetches open, high, low, and close from a user-defined higher timeframe using request.security.
Uses plotcandle to draw the higher timeframe candles over the chart.
Fibonacci Levels:
Dynamically calculates Fibonacci levels (0.0 to 1.0) based on the high and low of the higher timeframe candle.
Visualization:
Higher timeframe candles are color-coded:
Green: If the close is higher than the open.
Red: If the close is lower than the open.
Fibonacci levels are plotted as horizontal lines.
Trading Logic:
Example conditions:
Long Entry: When the price crosses above the 50% and 78.6% levels.
Short Entry: When the price crosses below the 50% and 23.6% levels.
Use Cases
Multi-Timeframe Analysis:
Combine lower timeframe price action with higher timeframe trends.
Fibonacci-Based Trading:
Identify key retracement levels for entries and exits.
This script allows for effective visualization of Fibonacci levels and candlestick patterns, enhancing your ability to make informed trading decisions. Let me know if you’d like additional customizations! 😊
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.
Clause de non-responsabilité
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