Intraday Fibonacci Levels [Gorb]

Welcome to the Intraday Fibonacci Levels indicator, a dynamic and customizable tool designed for traders who incorporate Fibonacci retracements and extensions into their technical analysis. This indicator focuses on intraday price action, allowing you to select a specific candle from any trading session and visualize crucial Fibonacci levels derived from its high and low prices.

  • Candle Selection for Fibonacci Analysis: Select any candle based on its time to plot Fibonacci levels, giving you control over the period of analysis.
  • Customizable .236 and .618 Fibonacci Levels: Plot and customize the .236 and .618 Fibonacci retracement and extension levels. Adjust color and line style for each level to fit your chart preferences.
  • User-Friendly Interface: Easy-to-use input fields for selecting the candle time and configuring Fibonacci settings. Intuitive toggle options to display or hide specific Fibonacci levels.
  • Dynamic Updating: The indicator updates in real-time as new price data is received, ensuring you have the latest Fibonacci levels on your chart.

Usage Case:
This indicator is ideal for day traders and technical analysts who utilize Fibonacci tools to identify potential support and resistance levels, trend reversals, or continuation patterns. Whether you are analyzing a high-impact news event candle or a significant pivot point in the trading day, this indicator helps bring clarity to your Fibonacci-based trading strategy.

Guidelines for Usage:

Use the indicator settings to select the candle time and configure your desired Fibonacci levels. You can choose any time you want, in order to use premarket candles you need to enable electronic hours on your chart to have levels plot from pre/post.

These auto plotted levels can act as pivot points or points of support and resistance for traders to make informed trading decisions near these levels. Analyze the plotted Fibonacci levels in conjunction with other technical indicators or price action patterns for informed trading decisions.

This indicator is a versatile and essential tool for traders who rely on Fibonacci analysis as part of their trading arsenal. By offering the flexibility to analyze specific candles and customize Fibonacci levels, this indicator empowers you to make more informed trading decisions. Its user-friendly design and real-time updating capabilities ensure that you have access to accurate and relevant Fibonacci data at any moment of the trading day.

All content, tools, scripts & education provided by Monstanzer or Gorb Algo are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.

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