Fibonacci Moving Average

The Fibonacci Moving Average is a powerful indicator that takes into account many underlying moving averages to give out an approximate short-term/long-term view of the markets. Its strength lies with dynamic support and resistance levels. I have created this indicator in order to improve trend-following entry positions.

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The new version of the Fibonacci Moving Average has new lookback periods updated to reflect better reactivity levels. For instance, more lookback periods from the Fibonacci sequence have been added.

The Fibonacci Moving Average calculates many exponential moving averages using lookback periods from the Fibonacci sequence on both highs and lows to form a dynamic support/resistance zone.

As a reminder, the Fibonacci Moving Average - FAMA is used exactly as other moving averages with a preference of trading the reactions whenever the market approaches the zone.