OPEN-SOURCE SCRIPT
Fibonacci Ranges (Real-Time) [LuxAlgo]

The "Fibonacci Ranges" indicator combines Fibonacci ratio-derived ranges (channels), together with a Fibonacci pattern of the latest swing high/low.
🔶 USAGE

The indicator draws real-time ranges based on Fibonacci ratios as well as retracements. Breakouts from a Fibonacci Channel are also indicated by labels, indicating a potential reversal.

Each range extremity/area can also be used as support/resistance.
🔶 CONCEPTS

Both, Latest Fibonacci and Fibonacci Channels, display different Fibonacci levels (labels not included in the code):

However, the 2 react in a totally different way.
🔹 Fibonacci Channels
2 conditions must be fulfilled until a Fibonacci Channel is displayed:

As visual guidance, chosen Break levels are accentuated by 2 small gray blocks:

Once the channel is displayed, it will remain visible until x consecutive bars break out of the chosen Break level at closing time.
• x consecutive bars is set by Break count.


The amount of breaks is counted in the code. When the price, without breaking the user-set limit, closes back between the 2 levels, the count is reset to 0.
By enabling Channels and Shadows you can see previous channels ("Shadows", which is always delayed with 1 bar)

Previous channels can be helpful in finding potential support/resistance areas, especially from large channel blocks

The more narrow Break levels are set the less chance the price closes between these 2 levels, and the quicker close breaks out.
In other words, narrow levels give fewer & smaller channels, broader levels give more & larger channels.
Note:
• swing settings: L & R
• Break count (x consecutive bars that close outside chosen levels to invalidate the Fibonacci Channel)
will also be of influence in displaying the channels.
• Show breaks enable you to visualize signals when there is a break:

• Alerts can also be set (Break Down/Break Up)
🔹 Latest Fibonacci
This displays the Fibonacci levels between the latest swing high and swing low, independently from the Fibonacci Channel.
The Lastest Fibonacci can be helpful in detecting the current trend against the larger Fibonacci Channel.

🔶 SETTINGS
🔹 Swing Settings
🔹 Fibonacci Channels
🔹 Fibonacci
🔶 USAGE
The indicator draws real-time ranges based on Fibonacci ratios as well as retracements. Breakouts from a Fibonacci Channel are also indicated by labels, indicating a potential reversal.
Each range extremity/area can also be used as support/resistance.
🔶 CONCEPTS
- Fibonacci Channels
- Latest Fibonacci
Both, Latest Fibonacci and Fibonacci Channels, display different Fibonacci levels (labels not included in the code):
However, the 2 react in a totally different way.
🔹 Fibonacci Channels
2 conditions must be fulfilled until a Fibonacci Channel is displayed:
- New swing high/low
- close has to be between chosen limits/levels (Break level)
As visual guidance, chosen Break levels are accentuated by 2 small gray blocks:
Once the channel is displayed, it will remain visible until x consecutive bars break out of the chosen Break level at closing time.
• x consecutive bars is set by Break count.
The amount of breaks is counted in the code. When the price, without breaking the user-set limit, closes back between the 2 levels, the count is reset to 0.
By enabling Channels and Shadows you can see previous channels ("Shadows", which is always delayed with 1 bar)
Previous channels can be helpful in finding potential support/resistance areas, especially from large channel blocks
The more narrow Break levels are set the less chance the price closes between these 2 levels, and the quicker close breaks out.
In other words, narrow levels give fewer & smaller channels, broader levels give more & larger channels.
Note:
• swing settings: L & R
• Break count (x consecutive bars that close outside chosen levels to invalidate the Fibonacci Channel)
will also be of influence in displaying the channels.
• Show breaks enable you to visualize signals when there is a break:
• Alerts can also be set (Break Down/Break Up)
🔹 Latest Fibonacci
This displays the Fibonacci levels between the latest swing high and swing low, independently from the Fibonacci Channel.
The Lastest Fibonacci can be helpful in detecting the current trend against the larger Fibonacci Channel.
🔶 SETTINGS
🔹 Swing Settings
🔹 Fibonacci Channels
- Channel: Channel / Channels + Shadows / None
- Break level
-0.382 - 1.382
0.000 - 1.000
0.236 - 0.764
0.382 - 0.618 - Break count
🔹 Fibonacci
- Toggle
- Colours: [[]-0.382 - 0[]], [[]0.236 - 0.382[]], [[]0.5[]], [[]0.618 - 0.764[]], [[]1 - 1.382[]]
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.