This is based on Fibonacci Pivot Points. I forked "CristianD CD_PivotR" code for this. Thanks
"Fibonacci Pivot Points start just the same as Standard Pivot Points. From the base Pivot Point, Fibonacci multiples of the high-low differential are added to form resistance levels and subtracted to form support levels."
Pivot Point (P) = (High + Low + Close)/3
Support 1 (S1) = P - {.382 * (High - Low)}
Support 2 (S2) = P - {.618 * (High - Low)}
Resistance 1 (R1) = P + {.382 * (High - Low)}
Resistance 2 (R2) = P + {.618 * (High - Low)}
Adding more support or resistance levels should be really easy.
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I changed the supp1 and res1 from 0.382 to 0.236 and supp2/res2 from 0.618 to 0.382 I think it makes more sense. and 0.618 is too extreme.
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0.618 is back. Cryptocoin markets are volatile enough to make it useful. Also, renamed it to "Bestest Fibonacci Pivot Range aka "Fib_Piv" so it's easier to find.
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Removed unrelated scripts from preview
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Removed unrelated scripts from preview
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Fixed a stupid copy/paste mistake. Now you can see the 0.618 line too.
Added transparency: 45
P line thickness is 2, the rest are 1
Please adjust it to your liking and screen res.
Any ideas or requests? Please post as comments.
PS! The way I use it is that I fire it up, use line tool to draw over today's and yesterdays lines and then hide the script. This way charts zoom in/out, scale etc work better.
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Made it more visible on white background. Pivot point (green) S2 and R2 are now lines and from channel. You can change that from the settings. Renamed the points.
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Shortened the indicator titles/labels
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Now you can select different time resolution for your Fibonacci Pivot point calculations. For example, you can have a 15 min chart with Fibonacci Pivot points calculated from 4 h bars. Default setting is 1 D
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Now you can select different time resolution for your Fibonacci Pivot point calculations. For example, you can have a 15 min chart with Fibonacci Pivot points calculated from 4 h bars. Default setting is 1 D
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Clean-up and update to version 4 Added level 1.0, level 0.236 is now optional