Fibonacci Trader

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A tool to plot fibonacci levels and the first extension automatically. Works with most time frame not unless the swings are too extreme. If the script is unable to detect the fib levels, better to stay out of the trade until price cools down.

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Updated the script per a user request. Users are now able to change the colors of the lines individually for personal preferences.

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Minor update to catch the pull backs a little better.

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Updated the script for some new changes.

1) To avoid confusing users, if the fibonacci levels are not visible in the chart it means the price is outside of the range and the chart/time frame is not the best.

2) Modified the script to be more Day Trader/Swing Trader friendly. So the ideal time-frame to trade is 15M or 5M or 3M.

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There' more space between the current bar and fib numbers

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Version 1.0

21 godzin temu

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Fibonacci Trader — Your Automated Fibonacci Trading Assistant

Take your Fibonacci trading to the next level with Fibonacci Trader, the easy-to-use tool that automatically draws key Fibonacci retracement and extension levels on your chart. Whether you’re looking for potential support, resistance, entry zones, or profit targets, this indicator visualizes the essential Fibonacci levels every trader should know — all updated reliably on every bar close.

How to Use Fibonacci Trader for Trading

* Watch for Price Retracements:
* When price pulls back during a trend, look for it to reach one of the key Fibonacci retracement levels (23.6%, 38.2%, 50%, or 61.8%). These zones often act as natural price support or resistance.

Use Extensions for Targets:

When price moves beyond the recent swing, Fibonacci extension levels (127.2%, 161.8%, 261.8%) highlight potential areas where trends may continue or face resistance, making great profit-taking zones.


Look for Confirmation:

Combine Fibonacci levels with your favorite price action patterns or indicators (volume spikes, momentum oscillators) to confirm the likelihood of a reversal or continuation before entering your trade.


Set Your Stops and Targets:

Use Fibonacci levels as logical points to place stop-loss orders and profit targets, helping you manage risk effectively and plan your trades with clarity.


Adapt to Any Market or Timeframe:

Whether you trade stocks, forex, or crypto, on 1-minute charts or daily timeframes, Fibonacci Trader adapts to provide precision Fibonacci levels tailored to the current price action.

With Fibonacci Trader, get clear, dependable visual guidance for your Fibonacci trading strategy — no tedious manual drawing, no guesswork. Add it to your charts today and trade with confidence!