Dynamic Auto Fibonacci

The Dynamic Auto Fibonacci indicator automatically identifies swing highs and lows to plot precise retracement and extension levels on your chart, supporting both arithmetic and logarithmic scaling for accurate long-term analysis.

Usage

The tool operates in two primary modes to suit different trading styles:

• Automatic Mode: By default, the script identifies the highest high and lowest low over a user-defined timeframe (e.g., 12 months) and plots levels based on these points.
• Manual Anchor Mode: Users can set a specific starting swing low by selecting a bar on the chart using the "Anchor Start Time" setting. The script will then automatically find the peak that occurred after that anchor and project the Fibonacci structure accordingly.

Examples of use cases include:

• Swing Trading: Using the levels to identify key support/resistance zones for trend continuation.
• Targeting: Utilizing the extension levels (1.236–2.618) to set take-profit zones during breakouts.
• Logarithmic Analysis: Essential for high-growth assets like cryptocurrencies or long-term stock charts where price appreciation is exponential.

Details

The indicator calculates levels using true logarithmic mathematics when the "Use Log Scale Calculation" setting is enabled. Traditional Fibonacci tools calculate linear distances, which can lead to significant inaccuracies on charts viewed in log scale. This implementation ensures the ratios remain mathematically consistent with the visual price action on a log chart.

The script supports up to 13 customizable levels and offers a "Unified Color" mode to quickly switch from vibrant, multi-colored levels to a minimalist, monochrome aesthetic suitable for professional reporting or clean chart setups.

Settings

Fibonacci Settings

• Retracement Timeframe: Defines the lookback period for finding highs and lows in automatic mode.
• Anchor Start Time: Allows for manual selection of a starting candle.
• Use Log Scale Calculation: Toggles between logarithmic and arithmetic calculation methods.

Display Settings

• Display Mode: Choose between showing Retracements & Extensions, Retracements Only, or Extensions Only.
• Line Customization: Adjust style (solid, dashed, dotted), length, and width.
• Label Customization: Toggle on-chart text labels, adjust their size, and set an offset from the current bar.

Individual Levels

• Retracement Levels (0.0 to 1.0): Eight customizable slots to toggle visibility, adjust ratios, and set colors.
• Extension Levels (1.236 to 2.618): Five customizable slots for projection levels.

FAQ

How do I use the manual anchor feature?

In the script settings, navigate to the "Fibonacci Settings" group and click on the "Anchor Start Time" field. Then, click directly on the candle you wish to use as your swing low. The indicator will lock to that point and find the subsequent high automatically.

Why do the levels look different when I switch to Log scale?

Standard Fibonacci tools often use linear calculations regardless of your chart scale. If "Use Log Scale Calculation" is enabled in this indicator, it adjusts the math to match the logarithmic price movement, ensuring the 50% retracement is the true logarithmic midpoint.

How can I access Dynamic Auto Fibonacci?

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