RSI + Fibonacci HH LL Support Resistance

5. Okt. 2023

I have integrated my past scripts and brushed them up further.

This tool allows for support/resistance, stop loss, take profit, and trend analysis using RSI and Fibonacci ratios.

For example, the Fibonacci ratio is used as follows

l1 = m - dist * 0.618l2 = m - dist * 1.618l3 = m - dist * 2.618l4 = m - dist * 4.235l5 = m - dist * 6.857l6 = m - dist * 11.089

When the Fibonacci ratio reaches 2.618 or higher and the RSI smoothed by the 5-day EMA is oversold/overbought, the bar color is changed by a gradation.

We have tried to make the design as beautiful and good-looking as possible. You can also hide the lines to suit your own preference.

Example usages are here:
BTCUSDT 1Hour Chart
Using Fibonacci numbers




BTCUSDT 15min Chart, for Scalping
Here, to set the highest and lowest prices one hour ago, "4" is substituted as the calculation: 15 minutes x 4 = 60



BTCUSDT 15min Chart, for Scalping
To set the highest and lowest prices 4 hours ago, "4" is substituted as the calculation: 15 minutes x 16 = 240




BTCUSDT 15min Chart, for Scalping
To draw yesterday's high and low as support/resistance lines, I substituted the number "96" as 1440/15=96.



BTCUSDT 1min Chart, for Scalping
Substituted "60" to trail the highest and lowest prices over a 60-minute period on a 1-minute chart, and removed lines to beautify




BTCUSDT 1day Chart, for Long-Term Investers
This is an example of using "90" because it is a 1-day chart and assumes that 3 months = 90 days in order to trail the highest and lowest prices over a 3-month period and no lines.



My past scripts are here:
RSI + FIB HH LL StopLoss Finder／Contrarian Trades
https://jp.tradingview.com/script/MYMna6kI/

Fibonacci HH LL TRAMA Band
https://jp.tradingview.com/script/Y6iGumYx/

4. Apr.

Versionshinweise

updated version6, and some fixes about fibonacci band variables.

h6 = m + dist * 13.618h5 = m + dist * 8.618h4 = m + dist * 5.618h3 = m + dist * 3.618h2 = m + dist * 2.618h1 = m + dist * 1.618l1 = m - dist * 1.618l2 = m - dist * 2.618l3 = m - dist * 3.618l4 = m - dist * 5.618l5 = m - dist * 8.618l6 = m - dist * 13.618