Zeiierman Trading » Indicators » Free Indicators » Auto Fibonacci Retracement – Real-Time

█ Fibonacci retracement is a popular technical analysis method to draw support and resistance levels. The Fibonacci levels are calculated between 2 swing points (high/low) and divided by the key Fibonacci coefficients equal to 23.6%, 38.2%, 50%, 61.8%, and 100%. The percentage represents how much of a prior move the price has retraced.

█ Our Auto Fibonacci Retracement indicator analyzes the market in real-time and draws Fibonacci levels automatically for you on the chart. Real-time fib levels use the current swing points, which gives you a huge advantage when using them in your trading. You can always be sure that the levels are calculated from the correct swing high and low, regardless of the current trend. The algorithm has a trend filter and shifts the swing points if there is a trend change.

The user can set the preferred swing move to scalping, trend trading, or swing trading. This way, you can use our automatic fib indicator to do any trading. The auto fib works on any market and timeframe and displays the most important levels in real-time for you.

█ This Auto Fib Retracement indicator for TradingView is powerful since it does the job for you in real-time. Apply it to the chart, set the swing move to fit your trading style, and leave it on the chart. The indicator does the rest for you. The auto Fibonacci indicator calculates and plots the levels for you in any market and timeframe. In addition, it even changes the swing points based on the current trend direction, allowing traders to get the correct Fibonacci levels in every trend.

█ How does the Auto Fib Draw the levels?
The algorithm analyzes the recent price action and examines the current trend; based on the trend direction, two significant swings (high and low) are identified, and Fibonacci levels will then be plotted automatically on the chart. If the algorithm has identified an uptrend, it will calculate the Fibonacci levels from the swing low and up to the swing high. Similarly, if the algorithm has identified a downtrend, it will calculate the Fibonacci levels from the swing high and down to the swing low.

█ HOW TO USE
The levels allow for a quick and easy understanding of the current Fibonacci levels and help traders anticipate and react when the price levels are tested. In addition, the levels are often used for entries to determine stop-loss levels and to set profit targets. It’s also common for traders to use Fibonacci levels to identify resistance and support levels.

Traders can set alerts when the levels are tested.

 

Subscribe to our membership

TRY IT YOURSELF!

Access the Auto Fibonacci Retracement – Real-Time Indicator on TradingView

ACCESS THE INDICATOR ON TRADINGVIEW!

“Boost” the script and add it to your Favorites and you will be able to access the script for free! WOW! Please leave a comment if you like it!

More Indicators

MACD & RSI Overlay

MACD & RSI Overlay

MACD and RSI Overlay Indicator The MACD & RSI Overlay (Expo) trading indicator is a technical analysis tool that combines two popular indicators, the Relative Strength Index (RSI [14]) and the Moving Average Convergence Divergence (MACD [12,26]), and overlays them...

2B Reversal Pattern

2B Reversal Pattern

The 2B reversal pattern, also known as the spring pattern, is a popular chart pattern among professional traders to identify potential trend reversals. This pattern occurs when the price seems to be breaking up or down and suddenly bounces back up or down, forming a...

Fair Value Gap Oscillator

Fair Value Gap Oscillator

Fair Value Gap Oscillator The Fair Value Gap Oscillator is an exceptional smart money concept tool that measures oscillations of the market's fair value gaps. It is a leading momentum indicator used to identify the assets' mispricings over time. By understanding how...

Ross Hook Indicator

Ross Hook Indicator

Ross Hook Indicator Access it for free here! Watch the video here!   Technical analysts use historical price data to predict the market and identify trading opportunities in price trends and patterns. This way of reading the market is becoming more and more...

1-2-3 Pattern Indicator

1-2-3 Pattern Indicator

1-2-3 Pattern Indicator Access it for free here! Watch the video here!    The most basic and essential formation in the market is the 1-2-3 pattern. Almost every great move ever made in the market starts from this formation. 1-2-3 pattern initiates trends,...

Curved Stop Loss

Curved Stop Loss

The best stop loss! Improved new stop-loss technique.   Curved Stoploss Our Curved Stoploss automatically calculates the best stop-loss distance based on real-time momentum. Once the algorithm has analyzed the current market characteristics, a curved stop loss is...

False Breakout

False Breakout

False Breakout Indicator  This is one of the best indicators that detects and identifies false breakouts! Breakout Traders can now be notified when there is a false breakout. False Breakout (Expo) This false breakout indicator detects false breakouts in real time. A...

Breakout Probability

Breakout Probability

Breakout Probability The indicator calculates the probability of a new high or low and displays it as a level perfectly on your chart. This indicator is hugely useful for all kinds of Traders!      Breakout Probability (Expo) is a valuable indicator that...

Smart Money Concept

Smart Money Concept

What is Smart Money?How can we trade as Smart Money does?Don't get fooled by delayed pivot pointsThe difference that mattersHow can you spot if you are using a pivot point SMC indicator?Smart Money Concept by Zeiierman Trading - a must-have!Be smart and start using...

Free Smart Money Concept

Free Smart Money Concept

Free SMC Indicator Table of contentsSmart Money Concept (SMC) indicatorFully automated and real-time SMC FeaturesHOW TO USE SMC SMC SettingsSMC Basic TerminologySubscribe to our membershipAccess the Free Smart Money Concept Indicator on TradingView Are you Trading...