Fibby
Fibby, possibly a reference to a Fibonacci-based indicator within Amibroker, likely utilizes mathematical ratios to identify key support and resistance levels in the market. This indicator integrates with the Amibroker data feed to accurately analyze price movements based on Fibonacci principles. Traders rely on Fibby to spot potential turning points and make informed decisions regarding market entries and exits.
/_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();