OPEN-SOURCE SCRIPT
Fibonacci Retracement
This script calculates the low and high of the past 14 candles and uses those values as the start and end points for the retracement. The script then plots lines at the key Fibonacci retracement levels (23.6%, 38.2%, 50%, 61.8%, and 76.4%) for reference. Traders can use these levels as potential areas of support or resistance, and watch for price action at these levels to help determine the direction of the market.
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.
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.