ZigZag Fibonacci levels

v10.3
ZigZag Fibonacci levels

This indicator plot Fibonacci levels based on the ZigZag indicator of the platform.

The zigzag tops and bottoms are calculated within the “percent” setting and on candlesticks Close (not highs/lows).

Levels colours can be modified with the R,G,B setting, by default levels are plotted in yellow.

The “DaysBefore” setting is important, because it prevents or not previous Fibonacci levels to be plot or not on the price chart. Expand its value to a large number will ensure the levels will be detected and plotted for the higher timeframes. In fact, it all depends of the zigzag percentage and the timeframe you are using.

 

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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. Gianluca • 91 days ago #

    WOW! i was looking for something like this! Thank you!

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