Indicator Description: PTB
The PTB indicator is designed for use in technical analysis on TradingView. It plots various Fibonacci levels on the chart to help identify potential support and resistance zones based on historical price movements.
Key Features:
Lookback Periods:
Short Lookback Period: Defined by the user, this period is used to calculate short-term highs and lows.
Long Lookback Period: Defined by the user, this period is used to calculate long-term highs and lows.
Highs and Lows Calculation:
Short-Term High and Low: The highest and lowest prices over the short lookback period.
Long-Term High and Low: The highest and lowest prices over the long lookback period.
Fibonacci Levels:
The indicator calculates and plots Fibonacci levels based on the long-term high and low. The key Fibonacci levels included are:
0.236
0.382
0.5
0.618
0.786
Alerts:
The indicator provides alert conditions when the price crosses any of the key Fibonacci levels (0.236, 0.382, 0.5, 0.618, 0.786). These alerts can be used to notify traders of potential significant price movements.
Plotting:
The calculated Fibonacci levels are plotted on the chart with different colors for easy identification:
0.236 Level: Navy
0.382 Level: Fuchsia
0.5 Level: Purple
0.618 Level: Teal
0.786 Level: Orange
Usage:
Traders can use the plotted Fibonacci levels to gauge potential areas of support and resistance. The alert conditions help in identifying significant price movements as the price crosses these critical levels.
2 days ago
Release Notes
Indicator Description: PTB_V2
The PTB indicator is designed for use in technical analysis on TradingView. It plots various Fibonacci levels on the chart to help identify potential support and resistance zones based on historical price movements.
Key Features:
Lookback Periods:
Short Lookback Period: Defined by the user, this period is used to calculate short-term highs and lows.
Long Lookback Period: Defined by the user, this period is used to calculate long-term highs and lows.
Highs and Lows Calculation:
Short-Term High and Low: The highest and lowest prices over the short lookback period.
Long-Term High and Low: The highest and lowest prices over the long lookback period.
Fibonacci Levels:
The indicator calculates and plots Fibonacci levels based on the long-term high and low. The key Fibonacci levels included are:
0.236
0.382
0.5
0.618
0.786
Alerts:
The indicator provides alert conditions when the price crosses any of the key Fibonacci levels (0.236, 0.382, 0.5, 0.618, 0.786). These alerts can be used to notify traders of potential significant price movements.
Plotting:
The calculated Fibonacci levels are plotted on the chart with different colors for easy identification:
0.236 Level: Navy
0.382 Level: Fuchsia
0.5 Level: Purple
0.618 Level: Teal
0.786 Level: Orange
Usage:
Traders can use the plotted Fibonacci levels to gauge potential areas of support and resistance. The alert conditions help in identifying significant price movements as the price crosses these critical levels.