OPEN-SOURCE SCRIPT
Fibonacci Confluence Toolkit [LuxAlgo]

The Fibonacci Confluence Toolkit is a technical analysis tool designed to help traders identify potential price reversal zones by combining key market signals and patterns. It highlights areas of interest where significant price action or reactions are anticipated, automatically applies Fibonacci retracement levels to outline potential pullback zones, and detects engulfing candle patterns.
Its unique strength lies in its reliance solely on price patterns, eliminating the need for user-defined inputs, ensuring a robust and objective analysis of market dynamics.
🔶 USAGE

The script begins by detecting CHoCH (Change of Character) points—key indicators of shifts in market direction. This script integrates the principles of pure price action as applied in Pure-Price-Action-Structures, where further details on the detection process can be found.

The detected CHoCH points serve as the foundation for defining an Area of Interest (AOI), a zone where significant price action or reactions are anticipated.

As new swing highs or lows emerge within the AOI, the tool automatically applies Fibonacci retracement levels to outline potential retracement zones. This setup enables traders to identify areas where price pullbacks may occur, offering actionable insights into potential entries or reversals.

Additionally, the toolkit highlights engulfing candle patterns within these zones, further refining entry points and enhancing confluence for better-informed trading decisions based on real-time trend dynamics and price behavior.

🔶 SETTINGS
🔹 Market Patterns
🔹 Retracement Levels
🔹 Swing Levels & Engulfing Patterns
🔶 RELATED SCRIPTS
Its unique strength lies in its reliance solely on price patterns, eliminating the need for user-defined inputs, ensuring a robust and objective analysis of market dynamics.
🔶 USAGE
The script begins by detecting CHoCH (Change of Character) points—key indicators of shifts in market direction. This script integrates the principles of pure price action as applied in Pure-Price-Action-Structures, where further details on the detection process can be found.
The detected CHoCH points serve as the foundation for defining an Area of Interest (AOI), a zone where significant price action or reactions are anticipated.
As new swing highs or lows emerge within the AOI, the tool automatically applies Fibonacci retracement levels to outline potential retracement zones. This setup enables traders to identify areas where price pullbacks may occur, offering actionable insights into potential entries or reversals.
Additionally, the toolkit highlights engulfing candle patterns within these zones, further refining entry points and enhancing confluence for better-informed trading decisions based on real-time trend dynamics and price behavior.
🔶 SETTINGS
🔹 Market Patterns
- Bullish Structures: Enable or disable all bullish components of the indicator.
- Bearish Structures: Enable or disable all bearish components of the indicator.
- Highlight Area of Interest: Toggle the option to highlight the Areas of Interest (enabled or disabled).
- CHoCH Line: Choose the line style for the CHoCH (Solid, Dashed, or Dotted).
- Width: Adjust the width of the CHoCH line.
🔹 Retracement Levels
- Choose which Fibonacci retracement levels to display (e.g., 0, 0.236, 0.382, etc.).
🔹 Swing Levels & Engulfing Patterns
- Swing Levels: Select how swing levels are marked (symbols like ◉, △▽, or H/L).
- Engulfing Candle Patterns: Choose which engulfing candle patterns to detect (All, Structure-Based, or Disabled).
🔶 RELATED SCRIPTS
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。