FIBO Easy Return

This indicator draws the longterm and the shortterm Fibonaccci levels based on highest highs and lowest lows.

Parameters for longterm and shortterm can be changed.

Default longterm: 200/100

Default shortterm: 50/50

It’s no surprise to see the candles bounce off the levels

Add the Indicator to your price.

Sorry for my basic english 🙂

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

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  1. swapping • 11/06/2017 #

    Hello Van Salt
    Thank you for this indicator. Very interest for add into price and follow exactily the level of pullback…

    your english is not very strong but i understand easily 😉

  2. DaxRider • 11/06/2017 #

    nice job thanks

  3. Bianca • 11/06/2017 #

    super well done…and your english…much more better then mine..
    1) what about to add some fibonacci expansions on the daily candle?
    2) reccomended on? image isnot clear..

  4. Van Salt • 11/06/2017 #

    Hi Bianca, the indicator shows you some interesting cluster-zones from long- and shortterm fibo-levels. The is no special recommandation to a special share.
    The values are different. But exactly that shows the indicator.
    It still follows a Fibo Backtest and a Fibo Screener. So you can test different shares and the best fibo level to buy or sell.
    I will see, if i add the expansions to the indicator. Nice idea!

  5. Vinci1966 • 327 days ago #

    Questo indicatore è molto interessante. Mi sono permesso di apportare alcune modifiche nell’intento di miglioralo. L’intento è stato quello di avere il grafico pulito e i livelli di fibonacci per entrambe le direzioni.
    Riporto qui in codice dell’indicatore:

  6. Vinci1966 • 327 days ago #

    // VAN SALT´s <> Version 20171105
    // This Indicator draws the Shortterm and Longtern Fibonacci Levels based on two Highest High and Lowest Low
    // Default Parameter Shortterm HH 50 / LL 50
    // Default Parameter Longterm HH 200 / LL 100
    // The Parameters can be changed!

    // Modificato, Integrato e Testato Da Vincenzo Giordano
    // 26 ottobre 2020

    defparam drawonlastbaronly = true

    hhLT = highest[LongtermHH](high)
    llLT = lowest[LongtermLL](low)
    hh = highest[ShorttermHH](high)
    ll = lowest[ShorttermLL](low)

    LTfib236 = (hhLT-llLT)*0.236
    LTfib382 = (hhLT-llLT)*0.382
    LTfib500 = (hhLT-llLT)*0.5
    LTfib618 = (hhLT-llLT)*0.618
    LTfib786 = (hhLT-llLT)*0.786
    LTfib764 = (hhLT-llLT)*0.764
    LTfib214 = (hhLT-llLT)*0.214

    fib214 = (hh-ll)*0.214
    fib236 = (hh-ll)*0.236
    fib382 = (hh-ll)*0.382
    fib500 = (hh-ll)*0.5
    fib618 = (hh-ll)*0.618
    fib764 = (hh-ll)*0.764
    fib786 = (hh-ll)*0.786

    LTlevel236 = hhLT-LTfib236
    LTlevel382 = hhLT-LTfib382
    LTlevel500 = hhLT-LTfib500
    LTlevel618 = hhLT-LTfib618
    LTlevel786 = hhLT-LTfib786
    LTlevel764 = hhLT-LTfib764
    LTlevel214 = hhLT-LTfib214

    level214 = hh-fib214
    level236 = hh-fib236
    level382 = hh-fib382
    level500 = hh-fib500
    level618 = hh-fib618
    level786 = hh-fib786
    level764 = hh-fib764

    drawtext(” < 00,00",barindex,hhLT,SansSerif,Bold,11) coloured(0,0,204)

    drawtext(" < 23,60",barindex,LTlevel236,SansSerif,Bold,11) coloured(0,0,204)

    drawtext(" < 38,20",barindex,LTlevel382,SansSerif,Bold,11) coloured(0,0,204)
    drawtext(" < 50,00",barindex,LTlevel500,SansSerif,Bold,11) coloured(0,0,204)
    drawtext(" < 61,80",barindex,LTlevel618,SansSerif,Bold,11) coloured(0,0,204)

    drawtext(" < 78,60",barindex,LTlevel786,SansSerif,Bold,11) coloured(0,0,204)

    drawtext(" <100,00",barindex,llLT,SansSerif,Bold,11) coloured(0,0,204)

    drawtext(" <100,00",barindex,hhLT,SansSerif,Bold,11) coloured(255,0,0)

    drawtext(" < 78,60",barindex,LTlevel214,SansSerif,Bold,11) coloured(255,0,0)
    drawtext(" < 61,80",barindex,LTlevel382,SansSerif,Bold,11) coloured(255,0,0)
    drawtext(" < 50,00",barindex,LTlevel500,SansSerif,Bold,11) coloured(255,0,0)
    drawtext(" < 38,20",barindex,LTlevel618,SansSerif,Bold,11) coloured(255,0,0)
    drawtext(" < 23,60",barindex,LTlevel764,SansSerif,Bold,11) coloured(255,0,0)

    drawtext(" < 00,00",barindex,llLT,SansSerif,Bold,11) coloured(255,0,0)

    drawtext(" < 00,00",barindex-1,hh) coloured(0,0,255)
    drawtext(" < 23,60",barindex-1,level236) coloured(0,0,255)
    drawtext(" < 38,20",barindex-1,level382) coloured(0,0,255)
    drawtext(" < 50,00",barindex-1,level500) coloured(0,0,255)
    drawtext(" < 61,80",barindex-1,level618) coloured(0,0,255)
    drawtext(" < 78,60",barindex-1,level786) coloured(0,0,255)
    drawtext(" <100,00",barindex-1,ll) coloured(0,0,255)

    drawtext(" < 100,00",barindex-1,hh) coloured(255,0,0)
    drawtext(" < 78,60",barindex-1,level214) coloured(255,0,0)
    drawtext(" < 61,80",barindex-1,level382) coloured(255,0,0)
    drawtext(" < 50,20",barindex-1,level500) coloured(255,0,0)
    drawtext(" < 38,20",barindex-1,level618) coloured(255,0,0)
    drawtext(" < 23,60",barindex-1,level764) coloured(255,0,0)
    drawtext(" < 00,00",barindex-1,ll) coloured(255,0,0)

    RETURN hhLT coloured(255,0,0) STYLE(dottedline,1) as "LT HIGH", llLT coloured(0,250,0) STYLE(dottedline,1) as "LT LOW", hh STYLE(line,1), ll STYLE(line,1) as "SHT LOW"

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