ZigZag Volume by Price Fibonacci Indicator (FIZIVOL)

ZigZag Volume by Price Fibonacci Indicator (FIZIVOL)

Hi Coders,

This is an improved version of a Volume Price Level indicator I proposed lately, combined with the work of Nicolas on ZigZag.



It allows us to

  • clearly identify the future supports and resistances of the next price sequence
  • identify the next possible extensions or regression of the price on Fibonacci levels
  • the weekness in the price structure that could provoke gaps or accelerations
  • and above all it opens the path to automatize a strategy

▀ ▀  = MaxVol level

▼▼ or ▲▲= MinVol Levels above or under the MaxVol level

I am captive to read from you what would be the best way to optimize a strategy 

  • entry/exit signal
  • effective stoploss and trailing stop

Please feel free to give to this code some enhancements or correct it if you see errors.



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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. Nicolas • 108 days ago #

    Fantastic work, well done! Thanks for sharing 🙂

  2. Kris75 • 106 days ago #

    When the expert says good job you feel encouraged and happy; thanks too Nicolas for your sharing; let’s see how we can produce a nice profit equity curve with it!

  3. atxeel • 100 days ago #

    Absolut cool, Thanks for sharing!

  4. Kris75 • 99 days ago #

    @atxeel pleasure! please share your strategies hypothesis so we can make a winner strat !

  5. dario ti • 96 days ago #

    This implement In PRT is one of the greatest work on this site, i hope the IG volume data feed is good enough to use this tool, all the volume profile based indicators in PRT are one of the most lack of this platform, and your job deserves all my gratitude.

    My strategy (on DAX) is always, entry on a retracement (limit order near an opening level) on a POC level after a brakeout on TF1-5min, only if there is a wide volume lack, TakeProfit on the next POC and trailingstop behind the next opening levels.

    P.s. Can you suggest me a convenient use of a lookback parameter according to exactly what it does in your code?

    Thank you Kris

  6. assafn • 87 days ago #

    I’m really new at this, so be gentle:)
    how can I create a scanner based on this wonderful indicator, that shows results whenever a new ▲ sign is created.
    Thank you

  7. Varadero54 • 41 days ago #

    J’ai essayé de mettre en place dans PRT mais j’ai un message d’erreur?
    “Erreur de syntaxe: Veuillez définir la variable suivante: CP
    Veuillez définir la variable suivante: nbofdiv
    Veuillez définir la variable suivante: scalefactor
    Veuillez définir la variable suivante: lineextention
    Veuillez définir la variable suivante: numbarverif
    Veuillez définir la variable suivante: fiboextention”
    QQ ” un at-il la solution?
    Merci pour l’aide

  8. jeanguy • 33 days ago #

    Quel travail ! Good job thank you !

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