OPEN-SOURCE SCRIPT
Fibonacci Confluence Toolkit [LuxAlgo]

The Fibonacci Confluence Toolkit is a technical analysis tool designed to help traders identify potential price reversal zones by combining key market signals and patterns. It highlights areas of interest where significant price action or reactions are anticipated, automatically applies Fibonacci retracement levels to outline potential pullback zones, and detects engulfing candle patterns.
Its unique strength lies in its reliance solely on price patterns, eliminating the need for user-defined inputs, ensuring a robust and objective analysis of market dynamics.
🔶 USAGE

The script begins by detecting CHoCH (Change of Character) points—key indicators of shifts in market direction. This script integrates the principles of pure price action as applied in Pure-Price-Action-Structures, where further details on the detection process can be found.

The detected CHoCH points serve as the foundation for defining an Area of Interest (AOI), a zone where significant price action or reactions are anticipated.

As new swing highs or lows emerge within the AOI, the tool automatically applies Fibonacci retracement levels to outline potential retracement zones. This setup enables traders to identify areas where price pullbacks may occur, offering actionable insights into potential entries or reversals.

Additionally, the toolkit highlights engulfing candle patterns within these zones, further refining entry points and enhancing confluence for better-informed trading decisions based on real-time trend dynamics and price behavior.

🔶 SETTINGS
🔹 Market Patterns
🔹 Retracement Levels
🔹 Swing Levels & Engulfing Patterns
🔶 RELATED SCRIPTS
Its unique strength lies in its reliance solely on price patterns, eliminating the need for user-defined inputs, ensuring a robust and objective analysis of market dynamics.
🔶 USAGE
The script begins by detecting CHoCH (Change of Character) points—key indicators of shifts in market direction. This script integrates the principles of pure price action as applied in Pure-Price-Action-Structures, where further details on the detection process can be found.
The detected CHoCH points serve as the foundation for defining an Area of Interest (AOI), a zone where significant price action or reactions are anticipated.
As new swing highs or lows emerge within the AOI, the tool automatically applies Fibonacci retracement levels to outline potential retracement zones. This setup enables traders to identify areas where price pullbacks may occur, offering actionable insights into potential entries or reversals.
Additionally, the toolkit highlights engulfing candle patterns within these zones, further refining entry points and enhancing confluence for better-informed trading decisions based on real-time trend dynamics and price behavior.
🔶 SETTINGS
🔹 Market Patterns
- Bullish Structures: Enable or disable all bullish components of the indicator.
- Bearish Structures: Enable or disable all bearish components of the indicator.
- Highlight Area of Interest: Toggle the option to highlight the Areas of Interest (enabled or disabled).
- CHoCH Line: Choose the line style for the CHoCH (Solid, Dashed, or Dotted).
- Width: Adjust the width of the CHoCH line.
🔹 Retracement Levels
- Choose which Fibonacci retracement levels to display (e.g., 0, 0.236, 0.382, etc.).
🔹 Swing Levels & Engulfing Patterns
- Swing Levels: Select how swing levels are marked (symbols like ◉, △▽, or H/L).
- Engulfing Candle Patterns: Choose which engulfing candle patterns to detect (All, Structure-Based, or Disabled).
🔶 RELATED SCRIPTS
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.