OPEN-SOURCE SCRIPT
MG - Fibonacci Alerts - 1.0
This script allows a user to get alerts when the price goes within a certain percentage threshold of a Fibonacci level.
If connected with AutoView, it could allow an easy way to do automated range trading between Fibonacci levels. Although I plan to do this myself, I haven't used it for this purpose yet so please be cautious and verify with live results beforehand before using it for any automation.
NOTE: The image shown of the indicator is not fully correct as the close price is used. In many cases in the example image, the candle close price DID come within the alert threshold but closed outside the threshold
Usage:
1. User performs a Fibonacci retracement / extension analysis to identify a sensible high and low point. (Currently, this script is geared towards dip pullbacks during a bull market with the ability to toggle rise pullbacks in a bear market in the pipeline)
2. User enters the high and low points into this indicator
3. User can then set alerts on the buy and sell signals which should provide alerts at excellent entry / exit points.
a. Alerts must be created on the buy and sell signal bars. E.g. Buy signal => Alert when 'Buy Signal' crosses up '0.9'
4. Set the alerts to once per bar (not per close). In this indicator, we want to catch things as soon as they happen.
NOTE: Should use in conjunction with another indicator for maximize results.
I personally use this indicator (tradingview.com/script/JV2WLRcM-Indicator-Multiple-Moving-Averages-1-0/)
TODO
- Add negative alert levels
- Allow user to specify direction of Fib retracement as the levels are different in bull and bear markets
All feedback is welcome
2 hours ago
If connected with AutoView, it could allow an easy way to do automated range trading between Fibonacci levels. Although I plan to do this myself, I haven't used it for this purpose yet so please be cautious and verify with live results beforehand before using it for any automation.
NOTE: The image shown of the indicator is not fully correct as the close price is used. In many cases in the example image, the candle close price DID come within the alert threshold but closed outside the threshold
Usage:
1. User performs a Fibonacci retracement / extension analysis to identify a sensible high and low point. (Currently, this script is geared towards dip pullbacks during a bull market with the ability to toggle rise pullbacks in a bear market in the pipeline)
2. User enters the high and low points into this indicator
3. User can then set alerts on the buy and sell signals which should provide alerts at excellent entry / exit points.
a. Alerts must be created on the buy and sell signal bars. E.g. Buy signal => Alert when 'Buy Signal' crosses up '0.9'
4. Set the alerts to once per bar (not per close). In this indicator, we want to catch things as soon as they happen.
NOTE: Should use in conjunction with another indicator for maximize results.
I personally use this indicator (tradingview.com/script/JV2WLRcM-Indicator-Multiple-Moving-Averages-1-0/)
TODO
- Add negative alert levels
- Allow user to specify direction of Fib retracement as the levels are different in bull and bear markets
All feedback is welcome
2 hours ago
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.