Fibby indicator
The Fibby indicator in Amibroker AFL leverages Amibroker data feed to integrate Fibonacci retracement levels into a customizable algorithm. Traders rely on it to pinpoint potential support and resistance zones based on Fibonacci ratios, enhancing decision-making for entry and exit points.
/_SECTION_BEGIN("Fibby 2nd Indicator");
//2nd Indicator
//By Fred Tonetti posted 7/28/06 Ft-talk
GraphXSpace = 5;
st1 = AMA(C,(2/(3+1)));
st2 = AMA(C,(2/(5+1)));
st3 = AMA(C,(2/(8+1)));
st4 = AMA(C,(2/(13+1)));
xxx = AMA(C,(2/(21+1)));
lt1 = AMA(C,(2/(34+1)));
lt2 = AMA(C,(2/(55+1)));
lt3 = AMA(C,(2/(89+1)));
lt4 = AMA(C,(2/(144+1)));
Z14 = IIf(st1 > lt4, 4, -4);
Z23 = IIf(st2 > lt3, 3, -3);
Z32 = IIf(st3 > lt2, 2, -2);
Z41 = IIf(st4 > lt1, 1, -1);
ZZZ = Z14 + Z23 + Z32 + Z41;
Plot(ZZZ, "ZZZ", IIf(ZZZ > 0, colorBrightGreen, colorRed), styleHistogram | styleThick);
_SECTION_END();