This drawing tool aims to draw auto Fibonacci Retracement Levels on desired indicators. Users can define the target indicator to draw Auto Fibo Lines, from the "settings tab":
There are six commonly used indicators below the charts that can be selected to draw Fibonacci Retracement lines on: RSI : Relative Strength Index CCI : Commodity Channel Index MFI : Money Flow Index STOCHASTIC : Stochastic Oscillator CMF : Chaikin Money Flow CMO : Chande Momentum Oscillator
Fibonacci Retracement Levels will appear automatically after applying the indicator. The "Auto Fibo on Indicators" tool looks back. It checks the indicator levels for a desired number of bars and then draws the Fibonacci Levels automatically in the right way, considering the final movements of the indicator.
There are five commonly used Fibonacci Levels added between the Highest and Lowest values such as: %23.6 %38.2 %50 (Not precisely a Fibonacci Level, indeed) %61.8 (Golden Ratio) %78.6
Four extra levels can be added from the settings tab by checking their boxes: %127.2 (adjustable level) %161.8 %261.8 %361.8
Default lookback bars of Auto Fibo Levels: 144 (which is also a Fibonacci number) Default Indicator: RSI Default Indicator length: 14 Default data source: CLOSE
Users can also define and show overbought and oversold levels by unchecking the "Do not Show Indicator Overbought / Oversold Levels?" button from the settings menu.
In technical analysis, Fibonacci Levels on price can guide valuable trading signals for investors. Levels can be significant support and resistance levels for breakouts and turning points. This drawing tool aims to follow those necessary levels on indicators to observe critical levels and breakouts.
Hello Sir, Not working for me, Auto fib on candle chart not getting displayed and RSI also .
deren-tolga
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hocam teşekkürler nasıl çalıştığını anlamak adına daha ayrıntılı bir açıklama okuyabileceğim bir yer var mı
cemtufekci967
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Teşekkürler hocam süpersiniz
apdusp
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very powerful. congrats !! would you mind allowing it to do the auto fib on any indicator present on the chart, as for example done in "Divergence Indicator (any oscillator)" from yatrader2 ?
Jasgripen
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Hocam harika bir insansiniz!
MDD01
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Teşekkürler elinize emeğinize sağlık
Bradly1
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not as good as i thought. horizontal lines move???? pretty bizarre.... makes it difficult to read when you get up into the high and low areas because those lines move up and down so it's actually misleading...Does actually more harm than good.