The indicator needs to plot 2 Fibonacci retracements by detecting the highest and lowest points of the given period (Start time and end Time).
The inputs by the user will only be Start time and End time of the Fibo, the indicator should detect the highest and lowest points of data in the specified timeframe (D1, H4, H1, etc)
When plotting the Fibonacci, detection of the first extreme point will determine level 1.0, and detection of the second extreme point will determine level 0.0
Should the first point of the period be the low, 1.0 level is plotted, and the second point detected will be the 0.0 level, resulting in an Downwards fibonacci. And vice versa.
Inputs to the indicator:
Fibonacci A:
Start Time: date & time
End Time: date & time
Colour:
Fibo Levels:
Fibonacci B:
Start Time: date & time
End Time: date & time
Colour:
Fibo Levels:
Furthermore, for each fibonacci plotted, we would like for the user to specify the following options
1) Colour
2) Fibo Levels (presets - See Fibs.tpl attached)
A) Fulls ( -8, -7, -6, -5, -4, -3, -2, -1, 0, 1, 2, 3, 4, 5, 6, 7, 8, 9)
B) Halves ( -5, -4.5, -4, -3.5, -3, -2.5, -2, -1.5, -1, -0.5, 0, 0.5, 1, 1.5, 2, 2.5, 3, 3.5, 4, 4.5, 5, 5.5, 6)
C) Quarters ( -3, -2.5, -2.25, -2, -1.75, -1.5, -1.25, -1, -0.75, -0.5, -0.25, 0, 0.25, 0.5, 0.75, 1, 1.25, 1.5, 1.75, 2, 2.25, 2.5, 3, 3.5, 4)
Fibo paramaters (for all drawn fibs):
1. Label each Fibo description according to their preset names.
2. Include the price in the object description for each fib level
Example: Level 0.75 with price of 1.0345 = 0.75 [%$] = 0.75 [1.0345]
3. Ray is enabled.
For the arrow indicator,
We will use a simple logic based off candle close.
The arrow will only appear when two conditions are met.
For the upwards arrow
1) Fibo A has candle opening below and close above the next level up. (yellow UP arrow plotted below the candle)
AND
2) Fibo B has candle opening below and close above the next level up. (lime UP arrow plotted below the candle)
When only Fibo B triggered, arrow will not be plotted.
For the downwards arrow
1) Fibo A has candle opening above and closing below the next level down (yellow DOWN arrow plotted above the candle)
AND
2) Fibo B Has candle opening above and closing below the next level down (lime DOWN arrow plotted above the candle)
When only Fibo B triggers, arrow will not be plotted.
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Attached templates are plotted on XAUUSD/Gold,
1) Fibs - Quarters, Halves and Fulls
2) Example of Arrow (H1 Time frame)
3) Example of Arrow 2 (M30 Time frame)
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