Fibonacci Levels by Jaehee

Fibonacci Levels by Jaehee

This indicator automatically detects the most recent swing high and swing low to plot precise Fibonacci retracement levels.
It dynamically identifies whether the current structure is bullish or bearish, ensuring that the levels are correctly displayed from 1.0 to 0.0 depending on the trend direction. Key levels such as 0.236, 0.382, 0.5, 0.618, and 0.786 are clearly marked.

Key Features:

- Automatic Swing Detection: Calculates levels based on the most relevant swing points within the lookback period.
- Visual Emphasis: 0.5 and 0.618 levels are highlighted for better visibility.
- Real-Time Updates: Levels automatically adjust when new highs or lows are formed.

Use Cases:

- Identify potential support and resistance zones during retracements.
- Track key reaction points such as 0.5 and 0.618 for potential reversals.
- Gain structural insights into price movements with a clean, unobtrusive layout.

Disclaimer:
This indicator is designed as an analytical tool and does not guarantee trading performance. For best results, combine it with price action analysis or other technical indicators.