Creates a channel off of desired periods' high and low and plots Fib levels. Automatically updates itself after every candle. Easily helps find the next entry point on any time frame.
//Created by Stocksight on January 1, 2016. Version 1.0 study("AF", overlay=true, max_bars_back= 89) //Inputs, Fib inputs can be added here incase custom values are needed. Will add that on next revision z = input (50) p_offset= input(2) transp =input(60) a=(lowest(z)+highest(z))/2 b=lowest(z) c=highest(z) //Fib Cals fib1 = (((c-b)*.764)+b) fib2 = (((c-b)*.618)+b) fib3 = (((c-b)*.382)+b) fib4 = (((c-b)*.500)+b) fib5 = (((c-b)*.236)+b) plot(b[p_offset], color = red, linewidth=2) plot(c[p_offset], color = green, linewidth=2) plot(fib1[p_offset], color = purple, style=cross, transp = 40, join=true, linewidth=2) plot(fib2[p_offset], color = yellow, style = cross,transp = transp) plot(fib3[p_offset], color = yellow, style = cross,transp = transp ) plot(fib4[p_offset], color = red, style = cross,transp = transp, join=true) plot(fib5[p_offset], color = purple, style = cross,transp = 40, join=true, linewidth=2)