™TradeChartist Fib Extensions

™TradeChartist Fib Extensions is a free to use script that helps traders plot Fibonacci Extensions on chart. Even though Trading View has a Fib extensions tool, some traders may prefer a plotting script like this with Fib plot lines extending across the whole of the chart to track historic prices in relation to Fib extensions drawn.

----To draw Fib extensions for uptrend,

1. Choose a Pivot Low point (LL or a HL) as Pivot 1
2. Choose a Pivot High point (must be higher than Pivot 1) as Pivot 2
3. Choose a Pivot Low point (must be lower than Pivot 2, must be Higher than Pivot 1)

----To draw Fib extensions for downtrend,

1. Choose a Pivot High point (HH or a LH) as Pivot 1
2. Choose a Pivot Low point (must be lower than Pivot 1) as Pivot 2
3. Choose a Pivot High point (must be higher than Pivot 2 and lower than Pivot 1)


Negative extensions of -23.6% and -61.8% fib plots may be useful for some to spot reversals or to set stop losses.

Higher levels can be used if price goes beyond 161.8%

This is a free to use indicator. Give a thumbs up or leave a comment if you like the script

Check my 'Scripts' page to see other published scripts. Get in touch with me if you would like access to my invite-only scripts for a trial before deciding on a paid access for a period of your choice. Half-Yearly, Annual and Lifetime access available on invite-only scripts along with 1hr Team Viewer intro session.

版本注释:

Code Updated.

Added - Extra Fibs Manual Input option
Added - Fib Line plot Transparency