Fibonacci Retracements

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.

 

Parameters

Period

 

Default Value: 260  |  Minimum: 1  |  Maximum: 9999

 

Type: Numeric

Fib61

%

 

Default Value: 61.799999999999997  |  Minimum: 0  |  Maximum: 100

 

Type: Numeric

Fib50

%

 

Default Value: 50  |  Minimum: 0  |  Maximum: 100

 

Type: Numeric

Fib38

%

 

Default Value: 38.200000000000003  |  Minimum: 0  |  Maximum: 100

 

Type: Numeric

Fib23

%

 

Default Value: 23.600000000000001  |  Minimum: 0  |  Maximum: 100

 

Type: Numeric

ShowFibHi

 

Default Value: -1

 

Type: Boolean

ShowFib61

 

Default Value: -1

 

Type: Boolean

ShowFib50

 

Default Value: -1

 

Type: Boolean

ShowFib38

 

Default Value: -1

 

Type: Boolean

ShowFib23

 

Default Value: -1

 

Type: Boolean

ShowFibLo

 

Default Value: -1

 

Type: Boolean