Average Daily Range Fibonacci Levels

The Average Daily Range is a simple concept, calculated as the difference between daily highs and lows averaged over some period. This indicator uses that range in conjunction with Fibonacci ratios to create zones centered on the day's open that tends to act as areas of support and resistance.

The thicker White lines are the ADR levels; all other lines are the same value adjusted by the various Fibonacci values.

A simpler version of this concept can be seen in my other script, Average Daily Range Zones, which does not include the Fibonacci ratio zones.

Thanks to hank Hill for the original idea and TV for the feedback and support on the use of the security() function.
Also thanks to goldencross for the Fibonacci obsession.

Nota Keluaran

1. Added a toggle for showing the zone fills only.
2. Added a toggle for price lines for the current day's fib levels.

Nota Keluaran

Added the ability to adjust the timeframe used for the average range calculation.

Nota Keluaran

Added some more options for visibility settings.

Nota Keluaran

Added a "dynamic mode" for fibs outside of the ADR range; when toggled, the script will automatically turn on or off those higher or lower fibs levels based on the high or low of day's proximity to them.

Nota Keluaran

Added alerts for price crossing fib levels, and a toggle for hiding historical ADR and fibs (plot only for today).

Nota Keluaran

Added toggles for each fib level's line drawing to make the more congested zones between open and ADR a little less busy.

Nota Keluaran

Updated to PineScript v5

Nota Keluaran

Added a toggle for disabling plots completely on non-intraday charts.
Added titles to plots for the Style menu.

Nota Keluaran

Fixed the lines/fill between days to get rid of unnecessary clutter.

Nota Keluaran

Added a "Fibonacci Scale" input option for scaling the size of the Fibonacci zones.

Nota Keluaran

Added an input option for changing the color of the plot of the opening price.
Added an experimental feature that allows the fib levels to be calculated with Standard Deviation or Variance of price instead of the Average. "Basic" is the standard ADR mode.

Skrip sumber terbuka

Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.

Untuk akses pantas pada carta, tambah skrip ini kepada kegemaran anda — ketahui lebih lanjut di sini.

colejustice

Thanks for using my indicators; I hope they make you money! Check out the website link for more, and thanks for your support!

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Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.

Skrip sumber terbuka

Untuk akses pantas pada carta, tambah skrip ini kepada kegemaran anda — ketahui lebih lanjut di sini.

colejustice

Thanks for using my indicators; I hope they make you money! Check out the website link for more, and thanks for your support!

Juga pada: