Fibonaccian Behavior
Fibonaccian Behavior AFL in Amibroker studies price action aligned with Fibonacci sequences. With Amibroker data feed, this indicator helps traders understand how prices interact with Fibonacci levels. It provides insights into market behavior influenced by Fibonacci ratios, aiding traders in anticipating potential price movements for better decision-making.
/_SECTION_BEGIN("Fibonaccian Behavior");
/*
This code will easily check the history of the Fibonaccian behavior of a stock/index.
If the white line falls "near" the blue Fibonacci levels, then this behavior may be repeated in the future.
For n0=2 we will have the main Fibonacci sequence
0.381, 0.618, 1, 1.618, 2.618
For n0=3 we will have the wider sequence
0.236, 0.381, 0.618, 1, 1.618, 2.618, 4.236
The parameter n is important.
A stock history may give good Fibonaccian behavior for n=6 but this profile may become irrelevant for n=10.
*/
n=Param("n",6,3,20,1);// Calibrate the Zig percentage
Var1=C;
z=Zig(Var1,n);
PeakCondition=PeakBars(Var1,n)==0;
p1=ValueWhen(PeakCondition,Var1,1);
p2=ValueWhen(PeakCondition,Var1,2);
TroughCondition=TroughBars(Var1,n)==0;
t1=ValueWhen(TroughCondition,Var1,1);
t2=ValueWhen(TroughCondition,Var1,2);
d=IIf(BarsSince(PeakCondition)=d0^n0;i=i*d0)
{
fib=i;
Plot(fib,"",colorBlue,1);
}
Plot(0.5,"",colorBlue,1);
Plot(Var1,"Var1",4,8+styleLeftAxisScale);
Plot(z,"",colorYellow,styleLeftAxisScale);
// Calculation of the current Fibonacci ratio
LVar1=LastValue(Var1);
d1=IIf(BarsSince(PeakCondition)