Fibonacci Retracements
Fibonacci retracements, a staple in technical analysis, use Fibonacci ratios to identify potential support or resistance levels. Within Amibroker, these retracement levels can be accurately calculated and plotted, thanks to the integration with the Amibroker data feeder. Traders rely on these levels to anticipate price movements and make informed decisions regarding entries, exits, or stop placements.
/_SECTION_BEGIN("AA - Fibonacci Retracements and Goals");
///////////////////////////////////////////////////
// **************** Parameters ********************
//
Period = Param("Period", 1, 1, 50);
ShowExt = ParamToggle("Show Extension ?", "No|Yes");
///////////////////////////////////////////////////
// **************** Calculations *****************
//
Period = Period*(13*.618);
Hhb = LastValue(Ref(HHVBars(H, Period), -1))+1;
Llb = LastValue(Ref(LLVBars(L, Period), -1))+1;
Hv = LastValue(Ref(HHV(H, Period), -1));
Lv = LastValue(Ref(LLV(L, Period), -1));
Range = (Hv - Lv);
LText = "0 %, 21.4 %, 38.2 %, 50 %, 61.8 %, 78.6 %, 100 %, 1.618 %, 1.72 %, 200 %";
if(Hhb > Llb)
{
Levels[0] = Lv;
Levels[1]= (Range *.214)+Levels[0];
Levels[2]= (Range *.382)+Levels[0];
Levels[3]= (Range *.5)+Levels[0];
Levels[4]= (Range *.618)+Levels[0];
Levels[5]= (Range *.786)+Levels[0];
Levels[6]= Hv;
Levels[7]= (Range *.618)+Levels[6];
Levels[8]= (Range *.72)+Levels[6];
Levels[9]= (Range )+Levels[6];
x0 = BarCount - 1 - Llb;
x1 = BarCount - 1 - Hhb;
}
else
{
Levels[0]= Hv;
Levels[1]= Levels[0]- (Range *.214);
Levels[2]= Levels[0]- (Range *.382);
Levels[3]= Levels[0]- (Range *.5);
Levels[4]= Levels[0]- (Range *.618);
Levels[5]= Levels[0]- (Range *.786);
Levels[6]= Lv;
Levels[7]= Levels[6]- (Range *.618);
Levels[8]= Levels[6]- (Range *.72);
Levels[9]= Levels[6]- (Range );
x0 = BarCount - 1 - Hhb;
x1 = BarCount - 1 - Llb;
}
//////////////////////////////////////////////////////////////////////////////////////
/// **************************** Plotting Area ********************************
//
Plot(C, "", IIf(MACD(9,34) > Ref(MACD(9,34),-1), colorBrightGreen, colorRed), ParamStyle("Price Style", styleBar, maskPrice));
for(i=0; i<10; i++)
{
if(i!=6)
x = x0;
else
x = x1;
if(i<7 OR ShowExt)
{
Plot(LineArray(x, Levels[i], BarCount, Levels[i]), "", i+2, styleDots);
PlotText(StrExtract(LText, i), BarCount, Levels[i], i+2);
}
}
//Title = FullName()+" - "+Name()+"\nO:"+O+", H:"+H+", L:"+L+", C:"+C;
_SECTION_END();