Fibonacci Balance Points
Fibonacci Balance Points AFL in Amibroker analyzes price movements concerning Fibonacci levels. Leveraging Amibroker data feed, this indicator identifies potential equilibrium zones where price tends to consolidate or reverse. It aids traders in refining entries and exits based on Fibonacci-based price action.
/dt = DayOfWeek();
DBC =(HighestSince(DayOfWeek()==dt,H,5)+
LowestSince(DayOfWeek()==dt,L,5)+Close)/3;
Plot(DBC, "Fibonacci Dynamic Balance Point", colorRed);
Mc1 = BarsSince(DayOfWeek()==1);
Fc1 = BarsSince(DayOfWeek()==5);
Fc2 = Ref(BarsSince(DayOfWeek()==5),-1)-1;
FBC = IIf(Mc1==0 AND Fc1>2,(Ref(HHV(H,LastValue(mc1)),-1)+Ref(LLV(L,LastValue(Mc1)),-1)+
Ref(C,-1))/3,IIf(Fc1==0 AND Mc1>5,(HHV(H,LastValue(Fc2))+LLV(L,LastValue(Fc2))+C)/3,
IIf(Fc1==0,(HHV(H,LastValue(Mc1))+LLV(L,LastValue(Mc1))+C)/3,0)));
FBP = ValueWhen(FBC>0,FBC,1);
Plot(FBP, "Fibonacci Fixed Balance Point", colorLime);
_SECTION_BEGIN( "Price" );
SetChartOptions( 0, chartShowDates | chartShowArrows | chartLogarithmic | chartWrapTitle );
_N( Title = StrFormat( "{{NAME}} - " + SectorID( 1 ) + " - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) Vol " + WriteVal( V, 1.0 ) + " {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ) );
Plot( C, "Close", colorRose, styleCandle | styleNoTitle | ParamStyle( "Style" ) | GetPriceStyle() );
if ( ParamToggle( "Tooltip shows", "All Values|Only Prices" ) )
{
ToolTip = StrFormat( "Open: %g\nHigh: %g\nLow: %g\nClose: %g (%.1f%%)\nVolume: " + NumToStr( V, 1 ), O, H, L, C, SelectedValue( ROC( C, 1 ) ) );
}
_SECTION_END();