Fixed Fibonacci Support Resistance

The Fixed Fibonacci Support Resistance indicator tool automatically calculates and plots Fibonacci-based support and resistance levels across a user-defined date range to help traders identify key price pivot zones.

Usage

The Fixed Fibonacci Support Resistance tool is designed for precision range analysis. To use the script:

1. Add the indicator to your chart.
2. Select the "Start Time" and "End Time" either by clicking on the chart (if "Confirm Inputs" is active) or by manually adjusting the dates in the settings.
3. The script will find the highest high and lowest low within that specific window and project Fibonacci levels across the chart.

This tool is particularly useful for analyzing historical ranges or specific sessions (like the London or New York open) to see how price interacts with those established levels later in the day.

Details

The script executes by identifying the lookback period between the two user-selected timestamps. It then calculates the range (High - Low) of that specific period. Fibonacci support levels are calculated by subtracting the percentage of the range from the high, while resistance levels are calculated by adding the percentage of the range to the low. This implementation is based on the multi-timeframe Fibonacci concepts popularized by LonesomeTheBlue, refactored for a fixed range selection.

Settings

Time Selection

• Start Time Selection: Sets the beginning of the range for calculation.
• End Time Selection: Sets the end of the range for calculation.
• Extend Fibonacci?: When enabled, the plotted levels will extend indefinitely to the right of the chart.
• Show start/end line?: Toggles the visibility of the vertical lines marking the selected range.

Fibonacci Levels

• Level 1 - 6: Toggle each specific level on or off, define the Fibonacci ratio (e.g., 0.618), and customize the colors for both support and resistance lines.

FAQ

How do I use the Fixed Fibonacci Support Resistance?

You select a start and end date on your chart, and the indicator will automatically draw support and resistance levels based on the high and low of that specific period.

Why are the levels not appearing?

Ensure that the "Start Time" is chronologically before the "End Time." If the dates are reversed, the calculation cannot be completed.

Where can I access this tool?

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