Golden Ratio Multiples

I call this "Phi Ribbons." The Golden Ratio, also known as Phi, is fantastic at predicting areas of price reversal.

Every moving average is a fibonacci multiple of the base function 355 SMA .

The rainbow above is an array of fibonacci multiples that are greater than one (1.618, 2, 2.618, 3, 5, 8, 13, 21)

The rainbow below is an array of fibonacci multiples that are less than one (0.786, 0.618, 0.5, 0.382, 0.236, 0.14)

Notice the precision of marking areas of potential price reversals

EASTER EGG: The two moving averages at the top of the script are 355 SMA & 113 SMA . This is one of the lowest ratios that closely approximates Pi (3.14159).

Simply plotting the 133 SMA will add a unique feature:

355/133 = 3.14159

When the 113 crosses below the 355 it tends to mark the end of major bullish impulses, and a crossover is a bullish sign.

Open-source Skript

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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