Fibonacci Alerts - 1.2

The Fibonacci Alerts - 1.2 indicator is a technical analysis tool designed to automatically identify price interactions with user-defined Fibonacci levels and generate visual markers and alerts based on these touches.

Usage

To use the Fibonacci Alerts - 1.2, users must first define the primary range by setting a "Lower fib level" and a "Higher fib level" in the settings. The indicator will then calculate and project various Fibonacci ratios (0, 0.236, 0.382, 0.5, 0.618, 0.786, 1, 1.272, 1.414, 1.618, 2) based on that range.

When the price comes within a specified percentage threshold of these levels, the indicator identifies it as a "touch."

• Buy Signals: Occur when the price reaches a lower Fibonacci level than the previously recorded level. These are represented by green upward triangles below the bars.
• Sell Signals: Occur when the price reaches a higher Fibonacci level than the previously recorded level. These are represented by red downward triangles above the bars.

Users can also visualize "Alert Spikes" on a designated "Alert Base" line. This allows for a visual representation of alert triggers on a specific area of the chart, controlled by the Alert Base and Alert Amplitude settings.

Details

The script functions by establishing a price range and calculating a suite of standard Fibonacci levels. It uses a percentage-based threshold to determine if the current high or low is "close enough" to a level to count as an interaction. The logic tracks the "latest" level hit; if the new level hit is higher than the last, it signals a move toward resistance (Sell), and if it is lower, it signals a move toward support (Buy).

The indicator is designed to be overlayed on the main price chart, providing clear visual context for where these levels sit relative to price action.

Settings

• Lower fib level: The price value for the bottom of the main Fibonacci range.
• Higher fib level: The price value for the top of the main Fibonacci range.
• Alert base: The price level on the chart where the alert visualization line is drawn.
• Alert amplitude: The height of the spikes drawn on the alert base when a signal occurs.
• Extend upwards: When enabled, calculates levels extending from the lower level toward the higher level. When disabled, the orientation is reversed.
• Display Fibonacci Levels?: Toggles the visibility of the calculated Fibonacci horizontal lines.
• Fibonacci Level Line Width: Adjusts the thickness of the Fibonacci lines.
• Fibonacci line percentage threshold: The sensitivity for detecting a level touch (e.g., 0.001 is 0.1%).
• Plot previous Fib level: Toggles a line showing the most recently touched Fibonacci level.
• Plot current Level: Toggles a line showing the Fibonacci level currently being touched.
• Show buy markers: Toggles the visibility of the green buy triangles.
• Show sell markers: Toggles the visibility of the red sell triangles.

FAQ

How do I access Fibonacci Alerts - 1.2?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Can I change the sensitivity of the alerts?

Yes, you can adjust the "Fibonacci line percentage threshold" in the settings. A smaller number requires the price to be closer to the level to trigger an alert.

Why do I need to set an "Alert Base"?

The Alert Base is a visual feature that allows you to see exactly when signals occur on a separate horizontal line, preventing the price action itself from becoming cluttered if you only want to track signal frequency.