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Thushara Dissanayake  

The Fibonacci Levels can be used in trading for various purposes:

  • Identifying potential support and resistance levels: Fibonacci levels can help traders identify key price levels where the market may experience support or resistance, indicating possible areas of buying or selling interest.

  • Determining entry and exit points: Traders can use Fibonacci levels to determine optimal entry and exit points for their trades, based on price reactions at these levels.

  • Setting profit targets and stop-loss levels: Fibonacci levels provide traders with reference points for setting profit targets and stop-loss levels, allowing for more precise trade management and risk control.

  • Confirming trend reversals: When price approaches or bounces off Fibonacci levels, it can provide confirmation of potential trend reversals, helping traders to make informed trading decisions.

  • Assessing price retracements: Fibonacci levels are commonly used to measure and assess the depth and extent of price retracements within an ongoing trend, aiding in the identification of potential buying or selling opportunities.

  • Establishing price projections: By using Fibonacci extensions, traders can project potential price targets for an existing trend, assisting in setting realistic profit objectives.

  • Enhancing risk management strategies: Incorporating Fibonacci levels into risk management strategies allows traders to identify areas of potential price reversal or continuation, helping to optimize risk-reward ratios.

  • Validating other technical indicators or patterns: Fibonacci levels can be used in conjunction with other technical indicators or chart patterns to validate trading signals, increasing the overall reliability of the analysis.

  • Guiding position sizing and trade management: Traders can utilize Fibonacci levels to determine position sizing based on the distance between entry and stop-loss levels, ensuring appropriate risk allocation.

  • Providing a framework for trade planning and analysis: Fibonacci levels offer a structured framework for trade planning and analysis, providing traders with clear reference points to assess market conditions and make informed trading decisions.




Strategy

  • Wait until all major news are posted
  • Identify the trend, up or down
  • If the market is up, draw Fibonacci levels from swing high to swing low
  • If the market is down, draw Fibonacci levels from swing low to swing high
  • Place an order between the 50% and 38.2% levels
  • Set a stop loss at the 23.6% retrace level




Advantages of choosing Fibonacci Of Yesterday Ultimate as your trading indicator:

  • Accurate Fibonacci Levels: Fibonacci Of Yesterday Ultimate automatically identifies and draws Fibonacci levels based on the previous day's price action, providing accurate levels for potential entry and exit points in your trades.

  • Time Saving: Manually drawing and adjusting Fibonacci levels can be a tedious task. With Fibonacci Of Yesterday Ultimate, you can save time and effort as the indicator handles the process automatically, allowing you to focus on other aspects of your trading.

  • Enhanced Efficiency: By automating the identification of Fibonacci levels, the indicator increases the efficiency of your trading. You can quickly identify key levels without the need for manual calculations or analysis, streamlining your decision-making process.

  • Trend Channel Recognition: The indicator goes beyond traditional Fibonacci tools by automatically identifying real trend channels on the chart. This feature helps you spot strong reversal, retracement, and trend opportunities, providing valuable insights for your trading decisions.

  • User Friendly Interface: Fibonacci Of Yesterday Ultimate offers a user-friendly interface with quick access buttons for easy navigation. Traders of all levels, from beginners to experienced professionals, can easily utilize the indicator's features without complications.

  • Customizable Settings: The indicator provides customizable settings, allowing you to tailor it to your individual trading preferences. You can adjust parameters such as font size, colors, and alert preferences, enabling you to personalize the indicator to suit your trading style.

  • Comprehensive Alerts: Fibonacci Of Yesterday Ultimate offers mobile, email, and pop-up alerts when price enters Fibonacci levels. This ensures that you stay informed and make timely trading decisions, even when you're away from your trading platform.

  • Compatibility and Integration: The indicator is compatible with popular trading platforms, seamlessly integrating into your existing trading strategies. You can incorporate Fibonacci Of Yesterday Ultimate into your preferred platform without any hassle.

  • Saved Information and Analysis: The indicator saves identified Fibonacci levels and trend channels for future reference. You can view the saved information alongside other timeframes, enabling deeper analysis and a broader perspective on market movements.

  • Trading Confidence: With the accuracy, efficiency, and convenience provided by Fibonacci Of Yesterday Ultimate, you can trade with increased confidence. The indicator's reliable tools and features empower you to make well-informed trading decisions, improving your overall trading performance.

Thushara Dissanayake  

v1.1 Features

  • User-friendly interface with quick access buttons
  • Automatic drawing and adjustment of Fibonacci levels
  • Mobile, email, and pop-up alerts for Fibonacci level entries
  • Activate/deactivate function for customizable alerts
  • Includes important Fibonacci levels for effective trading
  • Quick and easy drawing of trend channels
  • Saves identified Fibonacci levels and trend channels
  • View saved information across different time frames
  • Customizable settings for personalized trading preferences
  • Compatible with popular trading platforms


v1.1 Parameters

  • Button Parameters
    • Show Panel - Activate/ Deactivate button panel 
    • Show Yesterday Fibonacci - Activate/ Deactivate Fibonacci of yesterday
    • Show Traditional Fibonacci - Activate/ Deactivate traditional Fibonacci
    • Show Trend Channel - Activate/ Deactivate Trend channel
    • Show TPSL - Activate/ Deactivate Take profit Stop loss levels
  • Fibonacci Parameters
    • Fibo Level Filters
      • Level 0.0%-200.0% - Activate/ Deactivate each Fibonacci level
    • Traditional Fibo Filters
      • Shift - Draw Fibonacci between last bar and given bar (Default: 0 = Window First Visible Bar)
      • Step - Adjust Shift by [x] candles
  • Alert Parameters
    • Alert Types
      • Mobile Alert - Activate/ Deactivate, mobile notifications
      • Popup Alert - Activate/ Deactivate pop up message alerts
      • Email Alert - Activate/ Deactivate email alerts
    • Alert Filters
      • Level 0.0%-200.0% - Activate/ Deactivate alert for each Fibonacci level
    • Alert Other
      • Alert Reset - The time period for notify the same level alert again
  • Graphic Parameters
    • Theme Parameters
      • Color 1-3 - Colors for buttons and others
      • X Distance - X coordinate for indicator name
      • Y Distance - Y coordinate for indicator name
    • Yesterday Fibonacci Parameters
      • Style 1 - Line style for default Fibonacci 
      • Width 1 - Width for default Fibonacci 
      • Color 1 - Line color for default Fibonacci 
      • Style 2 - Line style for save Fibonacci 
      • Width 2 - Width for save Fibonacci 
      • Color 2 - Line color for save Fibonacci 
    • Traditional Fibonacci Parameters
      • Style 1 - Line style for default Fibonacci 
      • Width 1 - Width for default Fibonacci 
      • Color 1 - Line color for default Fibonacci 
      • Style 2 - Line style for save Fibonacci 
      • Width 2 - Width for save Fibonacci 
      • Color 2 - Line color for save Fibonacci 
    • Trend Channel Parameters
      • Style 1 - Line style for default Trend channel
      • Width 1 - Width for default Trend channel
      • Color 1 - Line color for default Trend channel
      • Style 2 - Line style for save Trend channel
      • Width 2 - Width for save Trend channel
      • Color 2 - Line color for save Trend channel
    • TPSL Parameters
      • Font size - Font size for Take profit and Stop loss levels
Thushara Dissanayake  
Version 1.2

Version: 1.2

Version 1.2

Version 1.2
 
Version 1.2 is now available with new improvements and fixes: This update brings several improvements based on trader requests, making the Fibonacci tool even more effective and user friendly. Yesterday’s Fibonacci levels are now plotted traditionally, providing a clearer and more familiar structure for those who rely on standard retracement analysis. The removal of Stop Loss levels helps declutter the chart, allowing traders to focus on key Fibonacci levels without unnecessary distractions. The enhanced Fibonacci tools include an optimized drawing system and a convenient Flip button for quick adjustments, making it easier to adapt to market conditions. Additionally, traders now have the flexibility to enable or disable Yesterday’s Fibonacci, Traditional Fibonacci, and Fibonacci Extension tools individually, offering a more customized experience. The alert system has also been refined for better accuracy and efficiency, ensuring traders receive timely and precise notifications. If you notice anything that needs improvement or have any suggestions, feel free to message me. I’m always open to feedback!
Thushara Dissanayake  
7777115 #:
kindly fix the Error.
The issue occurs when you open the chart on Sunday or Monday, as the indicator mistakenly takes the previous day's Fibonacci levels from Saturday or Sunday. This is causing the error. I will investigate and work on a fix. Really sorry for the late reply!
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