BLUR Fibonacci Pro

The BLUR Fibonacci Pro indicator automatically identifies significant market turning points and projects Fibonacci retracement, extension, and negative levels to provide objective price targets and support/resistance zones.

Usage

The Usage section describes how the script can be used, particularly for automating technical analysis across various timeframes. The indicator eliminates the need for manual drawing by detecting recent swing highs and swing lows based on a user-defined lookback period.

• Identifying Retracements: Use the main levels (23.6%, 38.2%, 50%, 61.8%, and 78.6%) to find potential entry points during market corrections.
• Targeting Extensions: Utilize the extension levels (161.8%, 200%, and 261.8%) to set take-profit targets when the price breaks beyond the prior high or low.
• Minor and Negative Levels: Traders can enable minor levels (e.g., 11.4%, 70.7%) for high-frequency precision or negative levels to project deep extensions below the start of a move.

Details

The script utilizes pivot detection logic (ta.pivothigh and ta.pivotlow) to identify structural extremes. Once a new pivot is detected within the Pivot Lookback Length, the script recalculates the range between the most recent high and low.

The tool is visually optimized with two distinct color themes ("Day" and "Night") to ensure readability across different charting backgrounds. It also utilizes dynamic line and label management to prevent chart clutter, ensuring only the most relevant recent levels are displayed. The use of different line styles (solid, dotted, and dashed) helps distinguish between major structural levels, minor zones, and extensions.

Settings

Pivot Fibonacci Settings

• Show Pivot Fib Levels: Toggles the visibility of all Fibonacci-based drawings on the chart.
• Pivot Lookback Length: Sets the number of bars required to confirm a pivot high or low. Higher values identify more significant, long-term structural levels.
• Show Fib Labels: Enables or disables text labels showing the percentage level and corresponding price.
• Extend Lines: When enabled, extends the Fibonacci levels to the right side of the chart.
• Label Offset: Adjusts the horizontal distance of the price labels from the most recent bar.
• Show Minor Levels: Toggles the visibility of secondary Fibonacci ratios (11.4%, 27.2%, 41.4%, 70.7%, 88.6%).
• Show Extension Levels: Toggles levels above 100% (161.8%, 200%, 261.8%).
• Show Negative Levels: Toggles levels projected below the 0% baseline.
• Show Pivot Markers: Displays visual markers at the specific bars where the high and low pivots were detected.

General Settings

• Color Theme: Allows the user to switch between "Day" and "Night" color presets to match their platform's theme.

FAQ

How do I adjust the sensitivity of the level detection? You can modify the "Pivot Lookback Length" in the settings; a smaller number will detect more frequent short-term pivots, while a larger number will focus on major swing points.

Can I use this for scalping and long-term investing? Yes, the script is timeframe-agnostic and will automatically calculate levels based on the pivots visible on your current chart interval.

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