Auto Fib Retracement & Extensions exact copy of SNIPER Close

The VD Auto Fibonacci Pro indicator provides an automated framework for identifying swing points and plotting real-time Fibonacci retracement and extension levels to assist in trend analysis and trade execution. It streamlines the technical analysis process by dynamically updating key interest zones as price action evolves, offering clear visual targets and entry areas.

Usage

The Usage section focuses on how the script interprets price action to generate levels. Once a significant swing high or low is detected, the script automatically anchors the Fibonacci grid to the most recent price range.

• Trend Identification: The indicator determines market bias based on the sequence of pivots. A bullish trend is identified when the last low bar follows the last high bar (indicating a recovery), while a bearish trend is identified when the last high bar follows the last low bar.
• Entry and Target Zones: The script highlights a specific "Entry Zone" typically between the 0.382 and 0.618 retracement levels. It also identifies "Target Zones" (Take Profits) at the 1.272 and 1.618 extension levels to provide exit logic.
• Momentum Heatmap: Users can enable a visual heatmap that changes the background and candle colors based on RSI-driven momentum, helping to confirm if a retracement is losing steam or gaining strength.
• Dashboard Analysis: A built-in table displays "Bull Strength" and "Bear Strength" as percentages, calculated based on where the current price sits relative to the identified Fibonacci range.

Details

The script utilizes pivot high and pivot low logic to identify structural turning points. It features an adaptive "Pivot Length" setting that automatically adjusts the lookback period based on the chart's timeframe (e.g., shorter lengths for 30m/60m charts and longer lengths for daily charts) to ensure the swings remain relevant to the current zoom level.

The Fibonacci calculation follows standard mathematical ratios:

• Retracements: 0, 0.236, 0.382, 0.5, 0.618, 0.786, and 1.0.
• Extensions: 1.272 (TP1), 1.414, 1.618 (TP2), 2.0, and 2.618 (TP3).

The indicator also includes optional Simple Moving Averages (30, 50, and 200) to provide additional confluence for trend direction alongside the Fibonacci data.

Settings

• Use Manual Pivot Length?: Toggles between the automated timeframe-based pivot detection and a user-defined fixed length.
• Manual Pivot Length: Sets the number of bars required on each side of a high or low to confirm a swing point.
• Enable Momentum Heatmap: Activates the RSI-based color gradient on candles and the background.
• Momentum Length (RSI): Adjusts the sensitivity of the momentum heatmap.
• Retracement/Extension Levels: Toggles the visibility of specific Fibonacci horizontal lines.
• Swing ZigZag Line: Displays a line connecting the detected swing highs and lows.
• Show Dashboard: Toggles the on-screen table showing trend strength and pivot settings.
• Show SMAs: Enables or disables the 30, 50, and 200 Simple Moving Averages.

FAQ

How do I interpret the Bull/Bear Strength on the dashboard? The strength is a percentage based on price position within the current Fibonacci range. If price is at the Swing High, Bull Strength is 100%; if at the Swing Low, Bear Strength is 100%.

Can I set alerts for new levels? Yes, the script includes alert conditions that trigger whenever a new Swing High or Swing Low is confirmed by the pivot logic.

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