Pivot Fibo Ranges

Pivot Fibo Ranges v2 is a technical indicator designed to provide a clear and structured visualization of Fibonacci levels combined with daily price zones, helping traders identify reversal points, supports, and resistances based on the market’s opening time.

Ideal for traders who seek simplicity and precision, the indicator automatically draws daily reference ranges (limits, retracements, bands, and Fibonacci levels), allowing for an objective analysis of intraday price movements.

🧭 Overview

Starting from the configured opening time, Pivot Fibo Ranges v2 calculates and plots on the chart the main price levels based on:

• Fibonacci retracements and extensions (50%, 61.8%, etc.);

• Predefined percentage retracements (+0.10%, +0.20%, -0.10%, -0.20%);

• Deviation bands to measure daily volatility;

• Upper and lower limits indicating extreme price zones.

These ranges are automatically updated each day, defining operational areas that help traders quickly visualize where price tends to react.

⚙️ Main Features

• 📆 Automatic daily calculation: levels are adjusted according to the start of each new trading day.

• 📈 Fibonacci and retracement levels: simultaneous display of key technical zones of interest.

• 🎯 Clear visual reading: each zone is highlighted with specific colors and labels.

• 🔧 Easy configuration: set the start time, deviation type, and range size as desired.

• ⚡ Light and optimized: runs smoothly on multiple charts without impacting platform performance.

📊 How to Use

1. Set the start time (hour and minute for the daily calculation).

2. Select the deviation type — by points or percentage (%).

3. Define the upper and lower deviation size according to your strategy.

4. Choose the Fibonacci level used as a reference for the calculations.

5. Analyze the highlighted zones on the chart:

   • Upper zones indicate potential resistance areas.

   • Lower zones suggest support levels and possible reversal regions.

Combine the indicator with your preferred setup (price action, moving averages, volume indicators, etc.) to confirm entries and exits with greater accuracy.

💡 Suggested Usage

• Combine with volume indicators to confirm breakouts.

• Use alongside price action strategies to identify confluence zones.

• Adjust levels and deviations according to the asset’s volatility.

• Ideal for Day Trading and Scalping strategies.

📌 Main Parameters

🧩 Benefits for Traders

• Clear identification of trade zones.

• Improved decision-making with well-defined technical levels.

• Automatic adaptation to daily market behavior.

• Excellent tool for traders seeking discipline and consistency in their analysis.

📍 Compatible with: MetaTrader 5
📍 Recommended Timeframes: M5, M10, M15, M30
📍 Markets: Indices, Currencies, Commodities, and Stocks