Intraday Fibonacci Levels

The Intraday Fibonacci Levels indicator allows traders to visualize Fibonacci retracement and extension levels derived from a specific intraday candle's price action. By selecting a target candle time, the tool automatically calculates and plots key levels to help identify potential support, resistance, and pivot points throughout the trading session.

Usage

This tool is primarily used by day traders to find institutional or high-impact price levels based on significant candles (such as news events or session opens).

To use the indicator:

1. Select a specific candle time in the settings.
2. The indicator will identify the high and low of that candle.
3. Fibonacci retracements (.236, .618) and extensions (1.236, 1.618, 2.236, 2.618) are then projected across the chart.

These levels act as dynamic areas of interest. Traders often look for price reversals or breakouts when the current market price interacts with these plotted lines. For users wanting to analyze pre-market data, ensure "Extended Hours" is enabled on your TradingView chart settings.

Details

The script operates by capturing the high-low range of a user-defined timestamp. Once this range is established, it calculates two primary groups of Fibonacci ratios:

• The .236 Group: Includes the 0.236 retracement and its corresponding extensions (1.236, 2.236) in both positive and negative directions.
• The .618 Group: Includes the 0.618 retracement (Golden Ratio) and its extensions (1.618, 2.618).

The levels are drawn as horizontal lines that extend forward in time, providing a constant reference point as the trading day progresses. The script also includes built-in alert functionality that triggers when the price crosses any of the active displayed levels.

Settings

Fibonacci Candle

• Select Time for Candle: Determines the specific intraday candle used to calculate the high and low for the Fibonacci range.

.236 Fibonacci Settings

• Plot .236 Fibonacci Levels: Toggles the visibility of the .236 retracement and extension lines.
• Color: Sets the color for the .236 level group.
• Line Style: Choose between Dashed, Solid, or Dotted lines for this group.

.618 Fibonacci Settings

• Plot .618 Fibonacci Levels: Toggles the visibility of the .618 retracement and extension lines.
• Color: Sets the color for the .618 level group.
• Line Style: Choose between Dashed, Solid, or Dotted lines for this group.

FAQ

How do I access Intraday Fibonacci Levels?

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

Can I use this on daily or weekly charts?

While the script is optimized for intraday selection, it will function on any timeframe as long as the "Select Time" matches a valid candle timestamp on your current view.

Why are the levels not appearing?

Ensure that the "Select Time" setting matches an existing candle. If you are trying to select a pre-market or after-hours candle, make sure Extended Hours are enabled on your chart.