Fibonacian Levels
Fibonacian Levels AFL in Amibroker calculates and plots various Fibonacci levels. Leveraging Amibroker data feed, this indicator displays Fibonacci retracement, extension levels, and other key ratios. Traders utilize these levels to gauge potential price reversals, setting up trades with improved precision.
/_SECTION_BEGIN("Fibonacian levels");
/*The folowing code will give the statistics for the Fibonacian levels.
We use n0=2 AND this value will check the levels
0.382, 0.5, 0.618, 1, 1.618, 2.618
The tolerance was 0.05 for any Fibonacci number.
for example, any value between 1.537 AND 1.698 was considered as 1.618.*/
/*Statistics for Fibonaccian levels*/
n=Param("n",3,3,20,1);// 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);
tp=Cum(Peakcondition);
tt=Cum(Troughcondition);
vd=d!=Ref(d,-1);
tvd=Cum(Vd);
ap=0.05;//calibrate the tolerance of Fib numbers
Cond=Vd AND (abs(d-0.318)