OPEN-SOURCE SCRIPT
Updated Major Minor Fib Points
Hey guys I made this indicator that plots major and minor lows based on the candle duration since it's last seen a lower low or higher high.
I made this after watching a seminar and seeing it as a way to simply, easily and naturally find the plot points for fibonacci retracements and extentions.
Blue dots are Major, Purple are Minor.
The dots only appear if there has not been a newly established low or high in the default(13) periods (for Major) before or after that candle. This is done to make the pivot candle clear and less subjective. The periods are also changeable in the format icon.
Let me know what if you like/hate it. It's just another indicator and is only a visual tool. But I hope it helps. I hope it helps me as well!
I made this after watching a seminar and seeing it as a way to simply, easily and naturally find the plot points for fibonacci retracements and extentions.
Blue dots are Major, Purple are Minor.
The dots only appear if there has not been a newly established low or high in the default(13) periods (for Major) before or after that candle. This is done to make the pivot candle clear and less subjective. The periods are also changeable in the format icon.
Let me know what if you like/hate it. It's just another indicator and is only a visual tool. But I hope it helps. I hope it helps me as well!
Release Notes
Update: made shapes auto size nowRelease Notes
Added alerts on requestOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.