Fibonacci Order Blocks

The Fibonacci Order Blocks indicator tool provides a rule-based structural analysis and visualization framework that combines pivot-based Fibonacci mapping with volume-distributed support and resistance zones.

Usage

The Usage section explains how to interpret the various visual components of the script for comprehensive chart analysis:

• Fibonacci Mapping: The tool automatically detects structural pivots and plots Fibonacci levels. Users can observe these as lines or zone boxes to identify potential areas of interest.
• Volume Distribution: Both Fibonacci levels and support/resistance zones feature internal buy/sell volume splits. This helps traders visualize how historical volume was distributed within specific price ranges.
• Information Boxes: Use the right-side information boxes to view total volume per zone, specific Fibonacci values, and exact price levels without cluttering the main chart area.
• Support & Resistance: Identify broader structural areas by looking for the support and resistance blocks, which include internal volume segments to highlight the strength of specific price levels.

Details

The script builds a Fibonacci structure between the latest confirmed structural pivots using automated correction techniques. It expands upon traditional Fibonacci tools by incorporating:

• Zone Boxes: Converts single lines into readable price zones.
• Volume Split Logic: Analyzes historical data and price overlaps to estimate the internal buy/sell volume distribution within a zone. This is a chart-based calculation and does not reflect real-time exchange order books.
• Dynamic Anchoring: Support and resistance zones are anchored based on user-defined pivot periods and lookback settings, allowing the tool to adapt to different timeframes and volatility levels.

Settings

SUP / RES VOLUME

• Pivot Period: Defines the number of bars used for pivot detection and anchoring support/resistance.
• Maximum Lookback: The number of historical bars analyzed for volume calculations.
• Volume Segments: Determines the granularity of price segments used to distribute volume inside zones.
• Support/Resistance Zone Colors: Customizable colors for the main background and the buy/sell volume sub-boxes.

Fibonacci

• Reverse Direction: Flips the Fibonacci direction between the detected pivots.
• Extend Left | Right: Controls the horizontal extension of Fibonacci lines.
• Deviation Multiplier: Sets the sensitivity for confirming new pivot legs based on price deviation.
• Pivot Depth: Minimum bar depth required for a high/low to be considered a pivot.
• Box Widths: Adjusts the visual width (in bars) of the volume and information boxes.

Fibonacci Levels

• Show/Value/Color: Individual toggles and inputs for standard and custom Fibonacci levels, ranging from extension levels to negative retracements.

FAQ

How do I use the volume split feature?

The volume split provides a visual representation of historical buy and sell pressure within a zone. Areas with higher buy-side volume (green) may indicate stronger support, while higher sell-side volume (red) may suggest stronger resistance.

Are these real-time order book signals?

No, the volume distribution is calculated using historical chart data and internal overlap logic. It is an analytical tool for visual context, not a direct feed of exchange bid/ask data.

How can I access Fibonacci Order Blocks?

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