Posts Tagged “fibo”

The indicator is based on Tom Strignano idea about building FIBO channels from previous day candle, the start point here is day close price. Fibo levels are built both sides, up and down.

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This indicator will draw a fibonacci retracement from the low to high (or high to low depending on trend) on the visible candles on the chart. This means if you zoom in or zoom out on the chart, the fibonacci retracement will adjust to those changes. The indicator redraws the retracement on the next candle close when the price is breaking out of the high or low. This indicator also show the area that has not been retraced. If you do not want this to show up, set “ShowUnretracedZone” to false.

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