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Period Fibonacci Support and Resistance Level

The Period Fibonacci Support and Resistance Levels is an indicator for plotting the support and resistance levels, which uses the old technical analysis technique. The main feature of this technique is finding the exact support and resistance levels on the specified time interval. That time interval can be a year, month, week, day.

This indicator is based on the webinars by Jeffrey Kennedy, a leading analyst in Elliott wave International.

Important! The value of the date1 parameter should always be a time coordinate in the following form:

  • Monthly chart - January bar, that way the levels are determined for the entire year, for example: 2016.01.01
  • Weekly chart - date of the first bar in the new year, that way the levels are determined for the entire year, for example: 2016.01.03
  • Daily chart - date of the first bar in the new month, that way the levels are determined for the entire month, for example: 2016.09.01

Important! Every time the date for new plotting of support and resistance levels is redefined, make sure to give new name to the objects.


Indicator Parameters

  • date1 - Start date for plotting the support and resistance lines;
  • date2 - End date for plotting the support and resistance lines;
  • lName - Name of support and resistance lines;
  • fontName - Font name for the description of support and resistance lines;
  • fontSize - Font size for the description of support and resistance lines;
  • LineColor - Color of support and resistance lines;
  • LineWidth - Width of support and resistance lines;
  • LineBack - Draw the support and resistance lines in the background if set to True;
  • LineSelected - Selection of support and resistance lines by double-clicking, False - cancel selection;
  • TFobject - Display the support and resistance lines for the selected chart period;
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