Semi-Automatic Fibonacci Retracement for Free ver.1.0
It is an indicator that draws Fibonacci retracement semi-automatically.
When you enter the starting price in "Start Price", a horizontal line is drawn up to the bar where "Open Price, High Price, Low Price, or Close Price" and "Start Price" match. Once the starting bar is determined, draw the Fibonacci retracement with the highest or lowest price to the right of that bar as the zero line. After that, the starting point remains fixed and the Fibonacci retracement is automatically updated every time the highest or lowest price is updated.
Please contact me if you have any problems. (Google translate)
Semi-Automatic Fibonacci Retracement for Free ver.2.0
Updated the input form to be closer to the built-in Fibonacci retracement.
[Supplementary usage] If "Start Price" is zero, everything will be hidden. (Default state is zero)
"End Price" is automatically calculated at zero. If you want to match the highest price on the right from the starting bar (the bar where the value entered in "Start Price" matches the price), turn off "Reverse". If you want to match the lowest price on the right from the starting bar, turn on "Reverse". Entering a price in End Price draws a Fibonacci retracement from Start Price to End Price.
If you want to know how this indicator behaves, use the "Bar Replay" feature. If you go back from the default state to near the beginning of the uptrend and start by setting the "Start Price" to some low price You can see the general behavior.
I cannot understand how to use this FIBONACCI Retracement accurately
AIZEN_MT
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@vinikumar72,
Use the bar's replay feature to go back a bit and enter some low in "start price".
If you play it as it is, you can see the movement, but what about?
AIZEN_MT
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@AIZEN_MT,
I think the uptrend part is good to try.