Fibonacci Zone
14300 obejrzeń
My first attempt in Pine.
It is a Donchian Channel, but in stead of the median line I added the four Fibonacci lines and colored three of the five ensuing zones in suggestive colors.
The blue zone is up trend zone
The gray zone is ranging zone
The orange zone is down trend zone.
The white zones are 'in betweens'
For the fibs to function properly it needs to be a 20 - 30 period channel.
It is a Donchian Channel, but in stead of the median line I added the four Fibonacci lines and colored three of the five ensuing zones in suggestive colors.
The blue zone is up trend zone
The gray zone is ranging zone
The orange zone is down trend zone.
The white zones are 'in betweens'
For the fibs to function properly it needs to be a 20 - 30 period channel.
Jun 09
Informacje o Wersji:
Periods now adaptable in the inputs, corrected the calculation of the Highest Fibonacci Line
Gave the borders a title and added better remarks in the script code.
Enjoy, Eykpunter.
Gave the borders a title and added better remarks in the script code.
Enjoy, Eykpunter.
Very cool instrument. What is interesting to note is how, in this ETH 2H chart, the tenkan-sen stays with the middle trend zone.