Fibonacci Pivot Points Ultimate

The Fibonacci Pivot Points Ultimate indicator provides a comprehensive suite of pivot point calculations designed to help traders identify key support and resistance levels across multiple timeframes and methodologies.

Usage

The Usage section allows traders to visualize institutional and mathematical levels based on historical price action. By default, the script calculates Fibonacci-based levels, but it can be toggled to other popular methods like Woodie or Camarilla.

Traders can use this tool to:

• Identify potential reversal zones using the S1-S7 and R1-R7 levels.
• Analyze long-term trends by applying Yearly, Biyearly, or even Decennially pivots.
• Verify intraday price action against higher-timeframe benchmarks using the "Intraday" toggle for stocks.
• Track historical price reactions to specific levels by adjusting the "Number of Pivots Back" setting.

Details

This script enhances the standard pivot point calculation by incorporating extended Fibonacci ratios (1.0, 1.382, 1.618, and 2.0) and supporting an extensive range of timeframes. Unlike basic implementations, it includes a lookback function that allows users to project past pivot levels onto the current chart for historical analysis. The indicator supports several mathematical classifications:

• Fibonacci: Uses the pivot range multiplied by Fibonacci ratios.
• Traditional/Classic: Standard floor pivots based on the previous period's high, low, and close.
• Woodie: Places higher weight on the current period's opening price.
• Camarilla: Focuses on professional trader "reversal" levels.
• DeMark: Designed to predict the high and low of the next period based on the relationship between the close and open.

Settings

• Classification: Selects the mathematical formula used (Fibonacci, Traditional, Woodie, Classic, DM, or Camarilla).
• Timeframe: Sets the period for calculation, ranging from Daily to Decennially.
• Labels Position: Determines if level labels appear on the Left or Right of the lines.
• Number of Pivots Back: Controls how many historical periods are displayed on the chart.
• Line Width: Adjusts the visual thickness of the pivot lines.
• Show Labels/Prices: Toggles the visibility of level names (e.g., R38) and their specific price values.
• Intraday: Optimized setting for stock traders to handle daily-based pivot calculations.

Pivots Group

• P/S/R Colors: Customize the color for the main Pivot (P), Support (S), and Resistance (R) levels.
• Show Toggles: Individually enable or disable specific levels (e.g., S38, R161, S200).

FAQ

How do I use the extended Fibonacci levels? In the settings, ensure the Classification is set to "Fibonacci" and toggle the visibility for levels like S138/R138 or S200/R200 within the Pivots group.

Can I see pivots for previous weeks or months? Yes, increase the "Number of Pivots Back" setting to display historical pivot lines alongside the current ones.

How can I access Fibonacci Pivot Points Ultimate? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.