This TradingView Pine Script indicator finds the three largest candles by body size within the last 300 bars and plots Fibonacci levels for each of these candles. The Fibonacci levels include:
Level 0:
The top of the body for a bearish candle. The bottom of the body for a bullish candle. Level 1:
The bottom of the body for a bearish candle. The top of the body for a bullish candle. Level -1:
A level below Level 0, calculated as one body length below Level 0. Level 2:
A level above Level 1, calculated as one body length above Level 1. How the Script Works Find the Three Largest Candles: The script loops through the last 300 bars and identifies the three candles with the largest body size (absolute difference between the open and close prices).
Draw Fibonacci Levels: For each of the three largest candles, the script draws Fibonacci levels (-1, 0, 1, 2) using thin gray lines and adds labels to identify each level.
Color Coding:
The largest candle is highlighted in red with a label "1st Largest". The second largest candle is highlighted in orange with a label "2nd Largest". The third largest candle is highlighted in yellow with a label "3rd Largest". Visualization:
Each candle is highlighted with a vertical line from high to low. Fibonacci levels are plotted with corresponding labels for clarity.