5(3+2), 8(5+3), 13(8+5), 21(13+8), 34(21+13), 55(34+21), ... numbers,
but based on these following Fibonacci numbers:
Ending up with 2 series of Fibma / Fibema:
"Tiny Fibma / Fibema":
24, 38, 50, 62, 76, 100
"Big Fibma / Fibema":
236, 382, 500, 618, 764, 1000
IMHO it is striking how these lines often act as Resistance/Support,
although (except the 50, 100 & 500) they are not typical MA/EMA's.
They perform very well on every Timeframe as well!
Even on the 15 minutes:
Things to watch for:
Price compared to the Tiny or Big Fibma / Fibema (below or above)
Price compared to important Fibma / Fibema (for example below or
above MA 236, MA 764, MA 1000, ...)
Crossing of Fibma / Fibema 24/76, 236/764 and 38/62, 382/618
( crossover = Lime coloured "cloud", crossunder = Red coloured "cloud"),
I've made a change in barcolor if the close crosses the "Big Fibma / Fibema 500"
If price closes above MA/ 500, the first bar is yellow coloured,
if price stays above this level, candles are coloured lime/orange (= very )
If price closes under MA/ 500, the first bar is purple,
if price stays under this level, candles are standard coloured (= very )
Strategy will follow,
- Enhanced the Alerts
- Added labels at the side for easier recognition (only for the big Fibma/Fibema)
- Price can be made visible under these labels
- "Higher Timeframe's" (Credits to "PineCoders" !),
- more settings,
- more Alerts
Initial start (Sort MA/EMA is displayed at the right):
Higher TF, TF is between (), + price:
Same situation, but + Smoothing:
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.