Auto Fibonacci Levels

Auto Fibonacci Momentum Zones with Visible Range Table

Overview and Originality
The Auto Fibonacci Momentum Zones indicator offers a streamlined, static overlay of Fibonacci retracement levels inspired by extreme RSI momentum thresholds, enhanced with a dynamic table displaying the high and low of the currently visible chart range. This isn't a repackaged RSI oscillator or basic Fib drawer—common in TradingView's library—but a purposeful fusion of geometric harmony (Fibonacci ratios) with momentum psychology (RSI extremes at 35/85), projected as fixed horizontal reference lines on the price chart. The addition of the visible range table, powered by PineCoders' VisibleChart library, provides real-time context for the chart's current view, enabling traders to quickly assess range compression or expansion relative to these zones.

This script's originality stems from its "static momentum mapping": by hardcoding Fib levels on a dynamic chart, it creates universal psychological support/resistance lines that transcend specific assets or timeframes.

Unlike dynamic Fib tools that auto-adjust to price swings (risking noise in ranging markets) or standalone RSI plots (confined to panes), this delivers clean, bias-adjustable overlays for confluence analysis. The visible range table justifies the library integration—it's not a gratuitous add-on but a complementary tool that quantifies the "screen real estate" of price action, helping users correlate Fib touches with actual volatility. Drawn from original code (no auto-generation or public templates), it builds TradingView's body of knowledge by simplifying multi-tool workflows into one indicator, ideal for discretionary traders who value visual efficiency over algorithmic complexity.

How It Works: Underlying Concepts
Fibonacci retracements, derived from the Fibonacci sequence and the golden ratio (≈0.618), identify potential reversal points based on the idea that markets retrace prior moves in predictable proportions: shallow (23.6%, 38.2%), mid (50%), and deep (61.8%, 78.6%).


Adjustable Outputs

1. The "Invert Fibs" toggle (default: true) for bearish/topping bias, can be flipped aligning with trend context.

2. Fibonacci Levels: Seven semi-transparent horizontal lines are drawn using `hline()`:
- 0.0 at high (gray).
- 0.236: high - (range × 0.236) (light cyan, shallow pullback).
- 0.382: high - (range × 0.382) (teal, common retracement).
- 0.5: midpoint average (green, equilibrium).
- 0.618: high - (range × 0.618) (amber, golden pocket for reversals).
- 0.786: high - (range × 0.786) (orange, deep support).
- 1.0 at low (gray).
Colors progress from cool (shallow) to warm (deep) for intuitive scanning.

3. Optional Fib Labels: Right-edge text labels (e.g., "0.618") appear only if enabled, positioned at the last bar + offset for non-cluttering visibility.

4. Visible Range Table: Leveraging the VisibleChart library's `visible.high()` and `visible.low()` functions, a compact 2x2 table (top-right corner) updates on the last bar to show the extrema of bars currently in view. This mashup enhances utility: Fib zones provide fixed anchors, while the table's dynamic values reveal if price is "pinned" to a zone (e.g., visible high hugging 0.382 signals resistance). The library is invoked sparingly for performance, adding value by bridging static geometry with viewport-aware data—unavailable in built-ins without custom code.


How to Use It

1. Setup:

• Add to any chart (e.g., 15M for scalps, Daily for swings). As an overlay, lines appear directly on price candles—adjust chart scaling if needed.
  

2. Input Tweaks:

• Invert Fibs: Enable for downtrends (85 top), disable for uptrends (35 bottom).
  
• Show Fibs: Toggle labels for ratio callouts (off for clean charts).
  
• Show Table: Display/hide the visible high/low summary (red for high, green for low, formatted to 2 decimals).
  

3. Trading Application:

• Zone Confluence: Seek price reactions at each fibonacci level—e.g., a doji at 0.618 + rising volume suggests entry; use 0.0/1.0 as invalidation.
  
• Range Context: Check the table: If visible high/low spans <20% of the Fib arc (e.g., both near 0.5), anticipate breakout; wider spans signal consolidation.
  
• Multi-Timeframe: Overlay on higher TF for bias, lower for precision—e.g., Daily Fibs guide 1H entries.
  
• Enhancements: Pair with volume or candlesticks; set alerts on line crosses via TradingView's built-in tools. Backtest on your symbols to validate (e.g., equities favor 0.382, forex the 0.786).
  

This indicator automates advanced Fibonacci synthesis dynamically, eliminating manual measurement and calculations.

published by ozzy_livin