Automatic Fibonacci Pivot Point S/R Levels

20. Mai 2020

This is a great tool to find confluences between Fibonacci Pivot point on various time frames.

Fib Pivots used
23.6%
38.2%
50%
61.8%
76.4%
100%
127.2%
141.4%
161.8%
200%

If price is between two levels on the update the lines shift

Yearly Pivots shown on 1m - Daily timeframes
PIvots recalculate on every day

Monthly pivots show on 1m - 60m timeframes
Pivots recalculate every hour

Weekly pivots show on 1m - 15m timeframes
Pivots recalculate every 30m

There is a lot of code but it got the job done.
It would easy to interchange if you prefer different types of pivots
It would be easy to add an on/off if you dont want so many levels on your smaller time frames

If anyone can streamline it please do

24. Mai 2020

Versionshinweise

A much cleaner code...

A huge shoutout goes out to Quant Nomad and HPotter for the different pieces that helped me bring this together.

I few notes I wanted to add. This tool is built to be used along your standard fibonacci pivot points to find pivot point confluences from higher timeframes
It is not to user friendly being that I do not have many changeable inputs but code should be relatively easy to change at will

Noted Updates

- The 15 minute chart now shows all of the S/R (Yearly, Monthly, and Weekly)
- The labeling for 1H chart line is cleaned up
- The changes now correctly occur across all trading instruments

1. Sept. 2020

Versionshinweise

Issue: ghost zero line - resolved; all levels can now be seen in full view without "scale price only" checked as a scale option
Issue: speed to compile - resolved
Added choice between dashed or solid line
Much simpler code
Levels have been renamed and tagged to stay in line with the normal R1/S1 - R3/S3 markers from the TV indicator

14. Sept. 2020

Versionshinweise

More timeframe periods added

30. Sept. 2020

Versionshinweise

Release notes: v1.5
Color input has been added
Bug Fixed: None intraday showed label but not the line, that bug is now corrected

1. Apr. 2021

Versionshinweise

v1.6

This will most likely be the last iteration unless there are design requests.

The code for the placement of the labels has been cleaned up

The repainting issue has been taken care of

A lot of the patch code for irregular line placements have been removed due to changes TV made to pine script itself

Color inputs for the support/resistance lines have been added

please leave a comment if you have any issues

1. Apr. 2021

Versionshinweise

v1.7

Also a gentle reminder that this is most effective when used in conjunction with the Standard Fibonacci Pivot Point Indicator as a confluence tool in trend, swing, and/or scalp trading.

Feel free to use TV version or my more dynamic one which includes the mid and extended fib levels that are accented by the dashed lines...the script can be found here.