benchch

Major Minor Fib Points

3057 obejrzeń
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Hey guys I made this indicator that plots major and minor lows based on the candle duration since it's last seen a lower low or higher high.

I made this after watching a seminar and seeing it as a way to simply, easily and naturally find the plot points for fibonacci retracements and extentions.

Blue dots are Major, Purple are Minor.

The dots only appear if there has not been a newly established low or high in the default(13) periods (for Major) before or after that candle. This is done to make the pivot candle clear and less subjective. The periods are also changeable in the format icon.

Let me know what if you like/hate it. It's just another indicator and is only a visual tool. But I hope it helps. I hope it helps me as well!
Usuń z Ulubionych Skryptów Dodaj do Ulubionych Skryptów
study("Major Minor Fib Points", "Mm P", overlay=true)
h_left_min = input(title="Minor Value", type=integer, defval=5)

h_left_low_min = lowest(h_left_min)
h_left_high_min = highest(h_left_min)
newlow_min = low <= h_left_low_min
newhigh_min = high >= h_left_high_min

central_bar_low_min = low[h_left_min]
central_bar_high_min = high[h_left_min]
full_zone_low_min = lowest(h_left_min * 2)
full_zone_high_min = highest(h_left_min * 2)
highest_bar_min = central_bar_high_min >= full_zone_high_min
lowest_bar_min = central_bar_low_min <= full_zone_low_min
plotshape(highest_bar_min ? -1 : 0, offset=-h_left_min, style=shape.circle, location=location.abovebar, color=purple)
plotshape(lowest_bar_min ? 1 : 0, offset=-h_left_min, style=shape.circle, location=location.belowbar, color=purple)



h_left = input(title="Major Value", type=integer, defval=13)

h_left_low = lowest(h_left)
h_left_high = highest(h_left)
newlow = low <= h_left_low
newhigh = high >= h_left_high

central_bar_low = low[h_left]
central_bar_high = high[h_left]
full_zone_low = lowest(h_left * 2)
full_zone_high = highest(h_left * 2)
highest_bar = central_bar_high >= full_zone_high
lowest_bar = central_bar_low <= full_zone_low
plotshape(highest_bar ? -1 : 0, offset=-h_left, style=shape.circle, location=location.abovebar, color=blue)
plotshape(lowest_bar ? 1 : 0, offset=-h_left, style=shape.circle, location=location.belowbar, color=blue)

Komentarze

is this repaints
+1 Odpowiedź
where to use this script? MT4?
+1 Odpowiedź
benchch AhmetAlperOzen
On tradingview! under indicators it's called: Major Minor Fib Points.

Sorry first post not sure how publishing an indicator works.
Odpowiedź
Thank you ..
Odpowiedź
do you have a divergence indicator script?
Odpowiedź
benchch AhmetAlperOzen
No I usually use stochastics to look for divergence. But i'm trying the macd 4c by vkno422 on tradingview also, because it seems like a lot of people endorse it on here.

I just looked for you and there already is divergence indicator on the indicators list on tradingview. But I haven't used so can't vouch for it. Check it out.
+1 Odpowiedź
thank you for giving time to me ...
Odpowiedź
thank you soooo much for this indicator. its great...
Odpowiedź
Is this indicator realtime i.e. does it shows the major minor on the day it is made or it shows them after few days because i checked it on 200 stocks but major minor are formed atleast 5 days ago, i dont see any major manor formed today or yesterday?
Odpowiedź
benchch hifiaudiovideo
@hifiaudiovideo, hey. no it will plot 5 days back for minor and 13 days back for major. Not a forward looking indicator. just looking to identify easier in the past. Thanks!
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