LonesomeTheBlue

ZigZag Multi Time Frame with Fibonacci Retracement

Hello Traders,

This is ZigZag Multi Time Frame with Fibonacci Retracement script. It calculates the ZigZag using Higher Time Frame, draw Fibonacci Retracement lines and put labels accordingly. I already published Zigzag with Fibonacci Levels script but this one is Multi Time Frame and I didn't want to change/update it.

You can set ZigZag Period and Resolution as you wish. Zigzag is calculated using higher time frames (ex: 1day) so you better choose small numbers as Zigzag Period, such 2, 3 etc. you should choose higher time frame wisely, meaning that you should not set 1Day while chart resolution is 1min ;)

It draws Fibonacci levels between 0%-100% and If the price goes higher/lower than 100% level than the script draws Fibonacci Levels accordingly. This means it draws Fibonacci levels until this levels get higher/lower than the price.

"Show Zig Zag" is not enabled by default, you can enable it if you want to see ZigZag as well.

You have options to set Text Color, Line Color, Zigzag Up Color and Zigzag Down Color.

You can set the location of the Fibonnaci Levels -> Left or Right

You also have option to enable/disable following Fibonnaci Levels:
---> 0.236
---> 0.382
---> 0.500
---> 0.618
---> 0.786


I added "Colorful Fibonacci Levels" for fun. if you enable it then Fibonacci line colors will be different randomly on each move, see it for yourself :)

Some Screenshots:

if you enable "Show Zigzag Option":

how the script adjust levels automatically:

if you set Label Location as "Right":

if you enable "Colorful Fibonacci Levels" then Line colors will be changed on each move randomly ;)


Enjoy!

Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?
If you find my works useful, please consider a donation
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Kommentare

since you exposed my best indicators, i will share with you my 14yrs strategy using fibo zigzag. maybe you will be able to convert it to pine. Great work. it would be great to see what u can do with Gann on zigzag . nice one
+4 Antworten
@mecmen, I will like to know also.
Antworten
@mecmen, Can you shar the strategy with me too?
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thanks for sharing, i enjoy your zigzag series very much :D
+3 Antworten
LonesomeTheBlue blackcat1402
@blackcat1402, you are welcome ;)
Antworten
Hello, Thanks for the script it gives a warning at processing time

"Processing script...
line 64: The function 'change' should be called on each calculation for consistency. It is recommended to extract the call from this scope.
line 67: The function 'change' should be called on each calculation for consistency. It is recommended to extract the call from this scope.
"
+3 Antworten
@Mirzya, it's not important
+2 Antworten
Mirzya LonesomeTheBlue
+2 Antworten
can i use it in 5min
+2 Antworten
@naba_naif, yes sure
Antworten
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