PD Fibonacci Retrace
Nov 8, 2016
The PD Fibonacci Retrace indicator plots the previous day's high, low, and key Fibonacci retracement levels on the current intraday chart to help traders identify potential support and resistance zones based on prior price action.
Usage
The tool is primarily used by intraday traders to gauge the current price position relative to the previous day's range. Traders often look for reactions at the 38.2%, 50%, and 61.8% retracement levels to determine if a trend is continuing or reversing. For example, if the price holds above the 50% level after a pullback, it may indicate bullish strength, whereas a break below could signal a shift in momentum.
Details
The script fetches the high and low prices from the daily timeframe ("1D") using security requests. It then calculates three internal Fibonacci levels between these extremes:
- 38.2% Level: Calculated as a 61.8% offset from the high.
- 50% Level: The exact midpoint of the previous day's range.
- 61.8% Level: Calculated as a 38.2% offset from the high.
The indicator also includes built-in alert conditions for price crossovers of the 50% retracement level, allowing for automated monitoring of mid-range breaks. This implementation was inspired by concepts originally shared on ProRealCode.
Settings
- High/Low Plots: These visual lines represent the previous day's maximum and minimum price points.
- Retracement Plots: These lines represent the 38.2%, 50%, and 61.8% levels calculated from the previous day's range.
FAQ
How do I use the PD Fibonacci Retrace levels?
Traders use these levels as dynamic support and resistance. The 50% level is often viewed as the "equilibrium" point of the previous day's volatility.
Can I change the Fibonacci ratios?
The current version uses fixed standard ratios (38.2%, 50%, 61.8%). To use different ratios, the source code calculations would need to be adjusted.
How can I access PD Fibonacci Retrace?
You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.
Trading & investing are risky and many will lose money in connection with trading and investing activities. All content on this site is not intended to, and should not be, construed as financial advice. Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Past performance does not guarantee future results.
Hypothetical or Simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, including, but not limited to, lack of liquidity. Simulated trading programs in general are designed with the benefit of hindsight, and are based on historical information. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.
Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.
As a provider of technical analysis tools and strategies, we do not have access to the personal trading accounts or brokerage statements of our customers. As a result, we have no reason to believe our customers perform better or worse than traders as a whole based on any content, tool, or platform feature we provide.
Charts used on this site are by TradingView in which the majority of our technical indicators are built on. TradingView® is a registered trademark of TradingView, Inc. www.TradingView.com TradingView® has no affiliation with the owner, developer, or provider of the Services described herein.
Market data is provided by CBOE, CME Group, BarChart, Massive, CoinAPI. Select U.S. equities data is provided through Massive. CBOE BZX real-time U.S. equities data is licensed from CBOE and provided through BarChart. Real-time futures data is licensed from CME Group and provided through BarChart. Select cryptocurrency data, including major coins, is provided through CoinAPI. All data is provided “as is” and should be verified independently for trading purposes.
This does not represent our full Disclaimer. Please read our full disclaimer.
© 2026 LuxAlgo Global, LLC.