Get started
OPEN-SOURCE SCRIPT
Updated

Fibonacci Levels Based on Supertrend [By MUQWISHI]

43 282
A “Fibonacci Levels Based on Supertrend” indicator is supertrend indicator planned with Fibonacci retracements levels. Fibonacci retracements provides a sequence of levels starting from 0% to 100% in addition to extension levels. 0% is measured to be the initial Supertrend line, and 100% is the previous Supertrend line where it has been broken by candle. This tool could be valuable in terms of managing trades by setting targets and reducing the risk in the trend direction.


█ OVERVIEW

snapshot

snapshot

snapshot


█ INDICATOR SETTINGS
snapshot


Please let me know if you have any questions.
Thank you.
Release Notes
UPDATES:
  • Code Optimization.
  • Added a brief historical run-up statistics table that contains

1. The percentage of trades with max run-up corresponding with each Fibonacci level over historical trades.
2. Total historical trades.
3. Median Fibonacci Level over historical trades.
4. Mean Fibonacci Level over historical trades.

snapshot


Thank you

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.

MUQWISHI
Trusted Pine Programmer, For Coding Inquiries
► Website muqwishi.com/home/quotation/
► Telegram t.me/MUQWISHI
► Email service@muqwishi.com


⛾ Support My Work on “Buy Me a Coffee” buymeacoffee.com/muqwishi
Also on:
Average True Range (ATR)Fibonacci ExtensionFibonacci RetracementfibonnaccilevelsPivot points and levelsresistencereversalsupertrendsupportTrend Analysis

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.
Average True Range (ATR)Fibonacci ExtensionFibonacci RetracementfibonnaccilevelsPivot points and levelsresistencereversalsupertrendsupportTrend Analysis

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.

MUQWISHI
Trusted Pine Programmer, For Coding Inquiries
► Website muqwishi.com/home/quotation/
► Telegram t.me/MUQWISHI
► Email service@muqwishi.com


⛾ Support My Work on “Buy Me a Coffee” buymeacoffee.com/muqwishi
Also on:

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.