Dynamic Fibonacci Retracement (23.6%, 50%, 61.8%)

How the Script Works:
Swing High and Low: The script looks for the highest high and lowest low within the lookback period (default is 50 bars). These points define the range for calculating the Fibonacci retracement levels.

Fibonacci Levels: The script calculates the 23.6%, 50%, and 61.8% retracement levels between the swing high and swing low, then plots them as horizontal lines on your chart.

Customizable Appearance: The colors of the Fibonacci levels are customizable through the script, with:

Green for the 23.6% level
White for the 50% level
Golden for the 61.8% level
Labels: The script adds labels next to each Fibonacci level to clearly identify them on the chart.

Example Use Case:
Trend Analysis: This script can be used for identifying potential reversal zones in trending markets. If price is in an uptrend, the Fibonacci retracement levels could act as support levels for a pullback.

Trading Decision: When price pulls back to one of these Fibonacci levels (23.6%, 50%, or 61.8%), it can be an opportunity to make a decision about entering a trade, such as buying during a pullback in an uptrend or selling in a downtrend.

Modify the Script:
If you'd like to adjust any features (such as the Fibonacci levels, colors, or lookback period), simply go back to the Pine Editor, make your changes, and click Save again. The changes will update on your chart once you click Add to Chart.