This is "ZigZag with Fibonacci Levels" script. It finds the ZigZag, draw Fibonacci lines and put labels accordingly. I get many requests for this script, so here it is.
You can set ZigZag period as you wish. Bigger numbers (such 20, 30) may give better perspective and result.
It draws Fibonacci levels between 0%-100% and If the price goes higher/lower than 100% level than the script draws Fibonacci Levels accordingly. This means it draws Fibonacci levels until this levels get higher/lower than the price.
As an example:
if you don't want to see ZigZag Lines then you have option to disable it and see only Fibonacci levels:
You have coloring options for Zigzag, Fibonacci lines and texts:
Enjoy!
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Added Price Levels to the labels.
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- You have now option to enable/disable following Fibonnaci Levels: ---> 0.236 ---> 0.382 ---> 0.500 ---> 0.618 ---> 0.786 - "Label Location" option added. Fibonacci levels can be shown at Left or Right. when the session is closed then labels at right may not be shown accordingly.
An example: some fibonacci levels disabled, also labeling at right.
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Options improved Zigzag part improved round_to_mintick() function used bar_index is used for labels (instead of time)
Hi! Thank you for this indicator, having fib in the chart is very convenient. Is it possible though to have an option not to show the price level? Its too cramped for a multi timeframe layout.
Thanks! =D