Are you tired of plotting Fibonacci retracements or extensions manually? This indicator displays Fibo retracements or extensions automatically, calculated from two different price points, without human intervention.
- Easy to use
- Manual anchoring is not needed
- Perfect for price confluence studies
- The indicator evaluates if retracements or extensions are needed
- Once drawn, you can manually edit the Fibo anchors
The indicator adapts to your chart size and zoom:
- Zoom out to get the big picture
- Zoom in to dive into price action
- Amplitude - amount of bars between alternative price points of the short term Fibo object
- Behavior - indicator can draw two Fibo objects, just the latest one, or just the complete chart one
- Drawing Settings - the block is self-explanatory
Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.