Fibonacci Dynamic Balance point
Fibonacci Dynamic Balance Point in Amibroker is likely a tool that adapts Fibonacci ratios to changing market conditions. It utilizes the Amibroker data feeder to dynamically calculate and adjust Fibonacci levels based on real-time market data. Traders use this dynamic aspect to accurately identify evolving support and resistance levels for informed trading decisions.
/_SECTION_BEGIN("Fibonacci Dynamic Balance Point");
dt = DayOfWeek();
DBC =(HighestSince(DayOfWeek()==dt,H,5)+
LowestSince(DayOfWeek()==dt,L,5)+Close)/3;
Plot(DBC, "Fibonacci Dynamic Balance Point", colorRed);
_SECTION_END();