Auto Fibonacci Levels

The Auto Fibonacci Levels indicator provides a streamlined overlay of static Fibonacci retracement levels derived from momentum psychology thresholds, accompanied by a real-time visible range data table.

Usage

The tool is designed for discretionary traders who require clean, horizontal reference lines to identify potential reversal or continuation zones. By mapping Fibonacci ratios to fixed momentum anchors, it provides universal psychological support and resistance levels.

• Zone Identification: Use the Fibonacci levels (0.0, 0.236, 0.382, 0.5, 0.618, 0.786, 1.0) to identify confluence. For example, a candlestick reversal pattern at the 0.618 "golden pocket" can signal a high-probability trade entry.
• Trend Alignment: Use the "Invert Fibs" setting to align the zones with the prevailing trend. Enable inversion for bearish outlooks and disable it for bullish contexts.
• Visible Range Analysis: The top-right table displays the high and low prices of the current chart view. This helps traders determine if the current price action is compressed within a specific Fibonacci zone or expanding toward a new range.

Details

This script implements a "static momentum mapping" concept. Unlike traditional auto-anchored Fibonacci tools that change frequently with every price swing, this tool uses fixed psychological anchors (derived from RSI extreme levels 35 and 85) to create consistent reference points. This approach minimizes market noise and provides a stable framework for multi-timeframe analysis.

The integration of the PineCoders VisibleChart library allows the script to dynamically track the extrema of the bars currently visible on the user's screen. This data is presented in a compact table, bridging the gap between static geometric levels and real-time viewport volatility.

Settings

• Invert Fibs: Flips the Fibonacci sequence. Default is true, typically used for bearish biases or topping price action.
• Show Fibs: Toggles the visibility of text labels for each Fibonacci ratio on the right side of the chart.
• Show Table: Enables or disables the information table in the top-right corner showing the visible high and low prices.

FAQ

How do I use the Fibonacci levels for entries?

Traders typically look for price action confirmation, such as dojis or engulfing candles, at key ratios like 0.382 or 0.618. These levels act as automated support and resistance.

Does the table update as I scroll the chart?

Yes, the table utilizes the VisibleChart library to calculate the high and low values of only the bars currently displayed in your TradingView window.

How can I access Auto Fibonacci Levels?

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