The Auto Fib Retracement Is a good indicator for tradingview to show you the current alerts and points to watch in the market
IMPORTANT SETTING => Retracement This controls your alert levels
I have modified it to deliver the following
+Custom Fib retracement level alerts +Drawing of old levels and retracement levels +Backtesting Old Alerts [You can visualize that with the shapes drawn]
There are two shapes drawn on the chart; Shown When the fib end is attained and market retraces back to your level 1. Buy retracement - 2. Sell retracement
How are they detected?
When we have new levels in the market; this is when the red or gree line changes, we calculate the new fib level that we will be watching for retracement This is the purple level drawn on the chart When the market first crosses below or above this level, The alert will be fired. Consequent crosses are not updated
Enjoy! 😍 Originally requested by trade atechproduction
Versionshinweise
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renamed indicator title for better identification in list of indicators
Lucem, You did a marvelous Job ! I've been using it now for some weeks,but .....
The diagonal can go in two ways.
1) From LowerLow pivot --> HigherHigh pivot, where the LL is earlier in time than the HH
2) From HH --> LL, where HH is earlier in time
... of course this is variable due to the length used in the input: Depth
BUT: I'd like to use it only ONE WAY, being from LL --> HH, where LL happens earlier in time ( see nr 1)
So, the diagonal must go from bottom left to Top right.
If this is not the case, then draw nothing
Which line in the code is to be changed, in order the LL is always looking for the earlier LL?
GeVe
DevLucem
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@GeVe, Please illustrate this in an image. I would love to see.