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sscholtz53
5 lut 2023 06:03

Fibonacci Retracement 

U.S. Dollar/South African RandFXCM

Opis

This script calculates the low and high of the past 14 candles and uses those values as the start and end points for the retracement. The script then plots lines at the key Fibonacci retracement levels (23.6%, 38.2%, 50%, 61.8%, and 76.4%) for reference. Traders can use these levels as potential areas of support or resistance, and watch for price action at these levels to help determine the direction of the market.
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