Fibo Dynamic

Fibonacci retracement is really one of the most reliable technical analysis tools used by traders.

The main problem with using these levels in trading is that you need to wait until the end of the impulse movement to calculate the retracement levels, making difficult to take a position for limited retracement (0.236 or 0.382).

Fibo Dynamic solves this problem. Once the impulse movement is identified the retracement levels are automatically updated allowing very dynamic trading in trends with only limited retracements.

Fibo Dynamic has been designed to be able to simultaneously calculate the retracements of multiple movements on different Time Frames. This allows you to quickly see the multi Time Frame retracement clusters.

Input : 

Trend Line Name : the name of the trend line you want to calculate the retracement

Real Time Update: you can choose to update or not the retracement in real time

Decimal Precision display: the number of decimal for the display of the price retracement

Color Level: the color of the retracement line for each level (0.236, 0.382, 0.50, 0.618, 0.764)

Font Size : the font size for the display of the price retracement

How to use Fibo Dynamic : 

Attach the indicator to the Chart.

Simply Draw a Trend Line from the beginning of the move to the current extremum. Name it as the input “Trend Line Name” and the indicator will automatically calculate and update the retracement levels.

You can Attach the indicator as many times as you want to draw numerous retracements for different moves.