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Auto Trend Fib Signals by Studio Divin

This document is a TradingView Pine Script that implements an Auto Trend Fibonacci Signals indicator. It detects uptrends and downtrends based on consecutive bars, calculates Fibonacci retracement levels, and plots buy and sell signals when price crosses these levels. Alerts are also set for bullish and bearish reversals at the Fibonacci support and resistance levels.

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atalaydarkorbit06304
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230 views2 pages

Auto Trend Fib Signals by Studio Divin

This document is a TradingView Pine Script that implements an Auto Trend Fibonacci Signals indicator. It detects uptrends and downtrends based on consecutive bars, calculates Fibonacci retracement levels, and plots buy and sell signals when price crosses these levels. Alerts are also set for bullish and bearish reversals at the Fibonacci support and resistance levels.

Uploaded by

atalaydarkorbit06304
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd

//@version=5

indicator("Auto Trend Fib Signals", overlay=true)

// Trend Detection Parameters


trend_length = input.int(3, "Trend Consecutive Bars")

// Detect Trends
up_trend = ta.rising(high, trend_length) and ta.rising(low, trend_length)
dn_trend = ta.falling(high, trend_length) and ta.falling(low, trend_length)

// Track Trend Parameters


var bool in_uptrend = false
var bool in_downtrend = false
var float up_high = na
var float up_low = na
var float dn_high = na
var float dn_low = na
var line fibLineUp = na
var line fibLineDn = na

// Uptrend Management
if up_trend and not in_uptrend
in_uptrend := true
in_downtrend := false
up_high := high
up_low := low

if in_uptrend
up_high := math.max(up_high, high)
up_low := math.min(up_low, low)

// Downtrend Management
if dn_trend and not in_downtrend
in_downtrend := true
in_uptrend := false
dn_high := high
dn_low := low

if in_downtrend
dn_high := math.max(dn_high, high)
dn_low := math.min(dn_low, low)

// Clear drawings when trend ends


if not up_trend and in_uptrend
line.delete(fibLineUp)
in_uptrend := false

if not dn_trend and in_downtrend


line.delete(fibLineDn)
in_downtrend := false

// Fibonacci Calculations
fib_level = 0.618

// For Uptrend (Retracement)


up_range = up_high - up_low
up_fib = up_high - up_range * fib_level

// For Downtrend (Retracement)


dn_range = dn_high - dn_low
dn_fib = dn_low + dn_range * fib_level

// Draw Fibonacci Levels


if in_uptrend
fibLineUp := line.new(bar_index - 5, up_fib, bar_index + 5, up_fib,
color=color.new(color.blue, 0), width=1, style=line.style_dotted)
line.set_extend(fibLineUp, extend.both)

if in_downtrend
fibLineDn := line.new(bar_index - 5, dn_fib, bar_index + 5, dn_fib,
color=color.new(color.red, 0), width=1, style=line.style_dotted)
line.set_extend(fibLineDn, extend.both)

// Signal Conditions
buy_signal = ta.crossover(low, up_fib) and in_uptrend
sell_signal = ta.crossunder(high, dn_fib) and in_downtrend

// Plot Signals
plotshape(buy_signal, "BUY", shape.labelup, location.belowbar,
color=color.green, size=size.small, text="BUY")
plotshape(sell_signal, "SELL", shape.labeldown, location.abovebar,
color=color.red, size=size.small, text="SELL")

// Alerts
alertcondition(buy_signal, "Bullish Reversal at 0.618",
"Price reached Fibonacci support level")
alertcondition(sell_signal, "Bearish Reversal at 0.618",
"Price reached Fibonacci resistance level")

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