Fiery River V.2.0 with VolatilityWhat does the indicator do?
The indicator combines the selected moving average with Fibonacci levels, which are adjusted depending on market volatility (ATR). It helps traders quickly see potential support and resistance zones, as well as take into account changes in market dynamics.
Basic elements
The main MA is selected from several types (EMA, SMA, WMA, RMA, HMA) and calculated over a specified period. The line is usually gray.
Fibonacci Levels (long) – calculated as The MA * coefficient is ATR. These are lower levels that are considered potential support areas.
Fibonacci Levels (short) – calculated as MA * coefficient + ATR * 2. These are higher levels that are considered potential resistance zones.
The second MA is a similar MA, but based on a different timeframe selected by the user (for example, daily). The line is a different color (usually red).
The levels of the second MA are long and short levels calculated according to the same logic, but for the second MA.
How the indicator works
ATR is calculated based on the selected period, reflecting the current volatility.
MA – calculated according to the selected type and period.
The second MA gets the same values, but on a different timeframe.
Fibonacci Levels
Long levels: MA * coefficient - ATR.
Short levels: MA * coefficient + ATR *
2.5. Readings on the graph – the level lines are displayed in different colors and with different transparency to make them easy to distinguish.
How to use the indicator
Setup – in the "Indicator Settings" section, select the type and period of the MA, the ATR period, the Fibonacci coefficients and the timeframe for the second MA.
Analysis – keep an eye on the price crossing the Fibonacci levels. Long levels can serve as support zones, short levels can serve as resistance zones.
Alerts – Set up alerts (alertcondition) for price intersections with levels to receive instant notifications of potential signals.
Combining – use the indicator in combination with other instruments (volume, RSI, MACD) to confirm the signals and improve your trading strategy.
Practical advice
ATR adaptation makes the levels more flexible during periods of high volatility, reducing the likelihood of false signals.
The second MA allows you to see long-term trends and synchronize signals with a wider horizon.
Fibonacci coefficients can be changed depending on a particular market or period to better match its nature.
Alerts help you avoid missing important intersections, especially if you can't keep track of the graph all the time.
The Fiery River V.2.0 indicator with Volatility is a flexible tool that combines moving averages, Fibonacci levels and volatility adaptation, allowing traders to make more informed decisions on different timeframes インジケーター
Fiery River Torgi### Description of the "Fiery River" (FR) Indicator
**Overview of the Indicator**
"Fiery River" (abbreviated as FR, with variants like "FR-Torg") is a technical indicator for TradingView, written in Pine Script version 6. It combines Fibonacci levels with exponential moving averages (EMAs) and standard deviations to dynamically plot support and resistance zones on price charts. The indicator calculates "effective close" prices based on candlestick bodies for better volatility representation, then derives levels using custom Fibonacci multipliers applied to deviations from the EMA midline. It supports multi-timeframe analysis by incorporating a secondary timeframe, making it ideal for traders analyzing trends, reversals, and extensions in various markets like forex or crypto. The name evokes a "fiery" stream of adaptive levels flowing across the chart. 🔥
**Key Features**
- **Level Construction**: Uses an EMA of the "effective close" price (derived from open/close max/min) and standard deviation to create a midline. Fibonacci levels are calculated by multiplying deviations with coefficients (e.g., 1.55, 1.89, 0.89), resulting in "long" and "short" lines. It plots 9 lines total: 5 for the primary timeframe (green, red, gray, black for shorts, and a midline) and 4 for the secondary timeframe (with transparency for distinction).
- **Color Scheme**: Green for weaker levels, red for stronger, gray for mid-range, and black for shorts/extensions.
- **Fills**: Adds green fills between level pairs to highlight potential trading zones, enhancing visual clarity.
- **Alerts**: Automatic notifications trigger when the price touches specific levels (e.g., "FM-Torgi green!" for the first green line), helping with timely signals.
- **Multi-Timeframe Support**: Pulls data from a secondary timeframe (e.g., daily while main is hourly) using `request.security`, allowing comparison across scales.
- **Customization**: Inputs for EMA periods (default 89), secondary timeframe, and multipliers for flexibility.
**How to Use**
1. Add the indicator to your TradingView chart via the "Indicators" menu.
2. Configure settings: Set EMA periods, choose a secondary timeframe (e.g., 'D' for daily), and adjust Fibonacci multipliers if needed.
3. Interpret levels: Use green/red zones for entries/exits, gray for mid-support, and shorts for extensions. Fills indicate high-probability areas.
4. Enable alerts for real-time notifications on level touches.
Best combined with other tools like RSI or volume for confirmation. It's suited for swing trading or scalping on volatile assets. 📈
**Advantages and Limitations**
- **Pros**: Highly adaptive to price movements, customizable, visually intuitive with fills and multi-timeframe depth. Efficient for identifying Fibonacci-based zones without manual drawing.
- **Cons**: Can clutter the chart with many lines if not managed; requires testing on different symbols as hardcoded multipliers may not fit all markets perfectly. Potential for false signals in sideways markets.
If you'd like me to expand on the code, suggest modifications, or provide examples, let me know! 😊 インジケーター
Fiery River### Description of the "Fiery River" (FR) Indicator
**Overview of the Indicator**
"Fiery River" (abbreviated as FR) is a technical indicator for TradingView, written in Pine Script version 6. It's designed for traders who incorporate Fibonacci levels with moving averages to analyze support and resistance zones. The indicator dynamically plots levels based on a selected moving average (MA) and Fibonacci multipliers, displaying them on the current timeframe and an additional secondary timeframe. This helps visualize potential reversal or continuation points, making analysis more comprehensive. The name "Fiery River" evokes a "fiery" flow of levels that "stream" across the chart, adapting to price movements. 🔥
**Key Features**
- **Level Construction**: The indicator calculates a moving average (EMA, SMA, WMA, RMA, or HMA) from the closing price and multiplies it by specified Fibonacci coefficients (0.618, 0.5, 0.382, 0.27, 0.18 for "long" levels and 1.618, 1.5, 1.382 for "short" levels). This creates 10 lines: 5 for the current timeframe (fully visible) and 5 for the secondary timeframe (with semi-transparency for distinction).
- **Color Scheme**: Levels are colored in gray, red, orange, and green, with additional "short" variants for extensions.
- **Fills**: Green fills are added between level pairs to highlight areas of interest, making the chart more visually intuitive.
- **Alerts**: Automatic notifications when the price touches levels (e.g., "Price touches Red line"), helping you stay on top of key moments.
- **Multi-Timeframe Support**: Incorporates a secondary timeframe (e.g., daily if the main is hourly) for comparing levels across different scales.
**How to Use**
1. Add the indicator to your chart in TradingView.
2. Customize settings in the panel: Select MA type, period (default 89), secondary timeframe, and Fibonacci coefficients.
3. Analyze levels as potential entry/exit points: Gray and red for stronger zones, green for weaker ones. Use fills to identify ranges.
4. Enable alerts for real-time signals.
It's ideal for strategies based on Fibonacci and trends, but always combine with other tools for confirmation. 📈
**Advantages and Limitations**
- **Pros**: Highly customizable, visually clear, supports multiple MA types and timeframes. Great for scalping and swing trading.
- **Cons**: Can create a lot of lines on the chart, potentially overwhelming if not managed. May require testing for optimal settings on volatile assets.
If you need any adjustments, more details, or help with the code, just let me know! 😊 インジケーター
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