November 15, 2021

This toolkit aims to display multiple Fibonacci drawing tools including retracements, arcs, circles, fans, timezones and spirals.

This toolkit aims to display multiple Fibonacci drawing tools including retracements, arcs, circles, fans, timezones and spirals.

Upon adding the indicator to the chart, users will be prompted to choose a starting point and an ending point for the calculation of the drawing tools.

Users can then navigate to the settings of the toolkit and choose which drawing tool to display using the Fibonacci drop-down menu. Users are also free to change the default Fibonacci ratios used by the indicator from within the settings. Each tool is described below.

Fibonacci retracements display multiple levels constructed using the starting price point, ending price point, and multiple Fibonacci ratios. These levels can be used as support and resistance .

Fibonacci arcs display multiple semi-circles. Each semi-circle crosses the line connecting the starting & end price point at a certain percentage determined by Fibonacci ratios. These arcs can be used as support and resistance .

The Fibonacci circles are similar to the Fibonacci arcs but display a full circle instead. Users can expect the price to bounce off of the circles.

This tool is less commonly used by traders.

A Fibonacci fan is a tool displaying trendlines all connected to a starting point and extending to a point determined by Fibonacci ratios. These can also be used as support and resistance .

Fibonacci timezones return a series of horizontal lines. The distance of the lines increases by a factor given by the numbers in the Fibonacci sequence.

This tool can be useful to highlight points where a trend might reverse assuming that their duration increases over time.

The Fibonnaci spiral displays a spiral that grows by a factor given by the golden ratio. This indicator returns a spiral using 7 turns (5 internal) and sets the origin of the spiral to the ending point which is selected by the user. The height of the spiral is based on the price range between the starting point and ending point.

Note that potential display artifacts can be seen when fitting the spiral on stocks and forex pairs.

11/23/2021

New Feature

Indicator

Educational

This indicator displays a fan using a linear regression fit to the price as a base. All lines are equidistant and are drawn from the first point of the linear regression to the most recent point of the linear regression plus the root-mean-square deviation (RMSD) multiplied by a certain factor.

11/23/2021

New Feature

Indicator

Educational

This indicator returns the average of stochastic oscillators with periods ranging from 4 to length. This allows for a slightly more reactive oscillator as well as having information regarding the position of the price relative to rolling maximums/minimums of different periods. We introduce settings that allow for pre and post-smoothing, with selectable smoothing methods and periods for both steps.