Bearish Fibonacci Extension Distance Table

### 📉 **Bearish Fibonacci Extension Distance Table – Pine Script Indicator**

This TradingView indicator calculates and displays **bearish Fibonacci extension targets** based on recent price swings, specifically designed for traders looking to **analyze downside potential** in a trending market. Unlike traditional Fibonacci retracement tools that help identify pullbacks, this version projects likely **price targets below current levels** using Fibonacci ratios commonly followed by institutional and retail traders alike.

#### 🔧 **How It Works:**

* **Swing Calculation**:
The script looks back over a user-defined period (`swingLen`, default 20 bars) to find:

* `B`: The **highest high** in the lookback (start of bearish move)
* `A`: The **lowest low** in the same period (end of bearish swing)
* `C`: The **current high**, serving as the base for projecting future downside levels.

* **Bearish Extensions**:
It then calculates Fibonacci extension levels **below** the current high using standard ratios:

* **100%**, **127.2%**, **161.8%**, **200%**, and **261.8%**

* **Distance Calculation**:
For each level, the indicator computes:

* The **target price**
* The **distance (in %)** between the current close and each Fibonacci level

* **Visual Output**:
A live, auto-updating **data table** is shown in the **top-right corner** of the chart. This provides at-a-glance insight into how far current price is from each bearish target, with color-coded levels for clarity.

#### 📊 **Use Cases**:

* Identify **bearish continuation targets** in downtrending or correcting markets.
* Help manage **take-profit** zones for short trades.
* Assess **risk-reward** scenarios when entering bearish positions.
* Combine with indicators like RSI, OBV, or MACD for **confluence-based setups**.

#### ⚙️ **Inputs**:

* `Swing Lookback`: Number of bars to consider for calculating the swing high and swing low.
* `Show Table`: Toggle to display or hide the Fibonacci level table.

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### 🧠 Example Interpretation:

Suppose the stock is trading at ₹180 and the 161.8% Fibonacci extension level is ₹165 with a -8.3% distance — this suggests the price may continue down to ₹165, offering a potential 8% short opportunity if confirmed by other indicators.