A.I Fibonacci

The A.I Fibonacci indicator automatically calculates and plots Fibonacci extension and retracement levels based on dynamic market structure to help traders identify precise entry, take profit, and stop loss zones.

Usage

The script is designed to simplify the identification of key technical levels. By applying the indicator to any chart, users can observe automatically plotted Fibonacci levels that adjust based on recent price action.

The indicator uses a color-coded system to help categorize the levels:

• Green Levels: Primarily used for identifying potential entry points during a retracement.
• Yellow Levels: Represent key take-profit targets after a move has resumed.
• Red Levels: Indicate logical stop-loss areas based on the calculated price range.

The Invert setting allows traders to switch the calculation between bullish and bearish perspectives, while the Deviation and Depth settings control how sensitive the script is to new pivot highs and lows.

Details

The A.I Fibonacci works by detecting significant pivot points using a combination of price deviation and bar depth. Unlike static Fibonacci tools, this indicator dynamically recalculates as new pivots are confirmed. It focuses on "extension" levels (levels beyond the 0 and 1 range) to provide targets after a retracement is completed, offering a more comprehensive view of potential price expansion. The script uses ATR-based thresholds to ensure that pivots are only identified when a meaningful price move has occurred, filtering out minor market noise.

Settings

General Settings

• Deviation: A multiplier used to determine how much the price must deviate from a previous pivot to establish a new one. Increasing this results in fewer, more significant levels.
• Depth: The minimum number of bars required to calculate the indicator's internal pivot detection.
• Invert: Swaps the high and low anchor points of the Fibonacci drawing.
• Show Prices: Toggles the visibility of the price value next to each Fibonacci level.
• Level (units): Toggles the visibility of the Fibonacci unit (e.g., 0.618).
• Levels Format: Choose between displaying levels as "Values" (decimal) or "Percent".

Fibonacci Levels

• Level Visibility: Each level (0, 0.236, 0.382, 0.5, 0.618, 0.786, 1, -0.27, -0.618, 1.5, 1.618) can be individually enabled or disabled.
• Level Values: Users can customize the numeric value for each Fibonacci level.
• Level Colors: Users can customize the color of each individual level for better visual organization.

FAQ

How do I access A.I Fibonacci?

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

Can this be used on any timeframe?

Yes, the indicator is designed to be versatile and functions on all timeframes, from scalping charts to long-term investment timeframes.

What do the negative Fibonacci levels represent?

Negative levels like -0.27 or -0.618 represent extension targets. These are used to project where price might go after it has successfully retraced and moved past the original starting point of the trend.