fibonacci_retracement
Function Name: fibonacci_retracement
Tags: None
Category: Cycles, Trend
Fibonacci Retracement
is the potential retracement of a financial asset's original move in price. Fibonacci retracements use horizontal lines based on the 1 year highest price and the 1 year lowest price to indicate areas of support or resistance at the key Fibonacci levels before it continues in the original direction. These levels are created by drawing a trendline between two extreme points and then dividing the vertical distance by the key Fibonacci ratios of 0%, 23.6%, 38.2%, 50%, 61.8% and 100%
Parameters:
Period: Number of last bars to be used for Fibonacci Retracement
Fib61, Fib50, Fib38, Fib23: Percentage values for Fibonacci levels.
ShowFibHi, ShowFib61, ShowFib50, ShowFib38, ShowFib23, ShowFibLo: Display control flags.
Period |
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Default Value: 260 | Minimum: 1 | Maximum: 9999 |
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Type: Numeric |
Fib61 |
% |
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Default Value: 61.799999999999997 | Minimum: 0 | Maximum: 100 |
|
Type: Numeric |
Fib50 |
% |
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Default Value: 50 | Minimum: 0 | Maximum: 100 |
|
Type: Numeric |
Fib38 |
% |
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Default Value: 38.200000000000003 | Minimum: 0 | Maximum: 100 |
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Type: Numeric |
Fib23 |
% |
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Default Value: 23.600000000000001 | Minimum: 0 | Maximum: 100 |
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Type: Numeric |
ShowFibHi |
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Default Value: -1 |
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Type: Boolean |
ShowFib61 |
|
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Default Value: -1 |
|
Type: Boolean |
ShowFib50 |
|
|
Default Value: -1 |
|
Type: Boolean |
ShowFib38 |
|
|
Default Value: -1 |
|
Type: Boolean |
ShowFib23 |
|
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Default Value: -1 |
|
Type: Boolean |
ShowFibLo |
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Default Value: -1 |
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Type: Boolean |