Automatic Fibonacci Retracement Golden Pocket (GP)
Main info
This script automatically draws you the Fibonacci retracement level called golden pocket from the latest detected pivot point to the actual price. This level is very popular among traders because the price tends to reverse on this level pretty often. You should use this on higher timeframes 15m+.
It is good to keep in mind that this level alone is not enough, you should still have another level there to enter the trade, for example golden pocket in combination with a demand zone is pretty solid. :)
Settings
If you want any updates, just feel free to write me :)
This script automatically draws you the Fibonacci retracement level called golden pocket from the latest detected pivot point to the actual price. This level is very popular among traders because the price tends to reverse on this level pretty often. You should use this on higher timeframes 15m+.
It is good to keep in mind that this level alone is not enough, you should still have another level there to enter the trade, for example golden pocket in combination with a demand zone is pretty solid. :)
Settings
- The length for pivot point calculation is available in the script settings.
- You can enable inverted golden pocket (for shorts)
- You can hide/show the pivot point labels
If you want any updates, just feel free to write me :)
Versionshinweise:
Added fill between lines based on user's feedback. Users can configure it in settings -> style.
Versionshinweise:
Bugfix - Accidentally published wrong fill for inverted level.
Versionshinweise:
- change colors - add green fill for longs and red fill for shorts
- add 0.5 level based on user feedback
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