"Automatic Fibonacci retracement with smart trading signals!"
Auto Fib Retracement with Signals is an advanced TradingView Pine Script indicator that automatically draws Fibonacci retracement levels based on ZigZag pivot points. The indicator includes intelligent buy/sell signals that trigger when price crosses key Fibonacci levels with volume confirmation and candle pattern validation.
Why did I create this? Because I wanted an automatic Fibonacci tool that not only draws levels but also provides actionable trading signals!
| Feature | Description |
|---|---|
| Automatic Fibonacci | Auto-draws retracement levels from ZigZag pivots |
| Smart Signals | BUY/SELL signals with volume and candle confirmation |
| Volume Confirmation | Optional volume-based signal validation |
| Customizable Levels | All Fibonacci levels can be shown/hidden |
| Alert System | Built-in alerts for signal generation |
Market Analysis: ZigZag detects pivots automatically
↓ [Auto Fib Calculation]
Fibonacci Levels: Auto-draws retracement levels
↓ [Signal Generation]
Trading Signals: BUY/SELL with volume confirmation
↓ [Result]
Professional Fibonacci analysis with actionable signals!
| Signal Type | Conditions | Action |
|---|---|---|
| BUY Signal | Price crosses 0.618 or 0.786 upward + Bullish candle + Volume OK | Triangle up + BUY label |
| SELL Signal | Price crosses 1.618 or 2.618 downward + Bearish candle + Volume OK | Triangle down + SELL label |
graph LR
A[Copy Pine Script] --> B[Open TradingView]
B --> C[Paste in Pine Editor]
C --> D[Add to Chart]
D --> E[Configure settings]
Detailed steps:
- Copy the Pine Script code from the file
- Open TradingView and go to Pine Editor
- Paste the code into the editor
- Click "Add to Chart"
- Configure settings according to your preferences
Tip: Make sure you have TradingView Pro or higher for full functionality!
| Parameter | Default value | Description | Tip |
|---|---|---|---|
Odchylka |
3 |
Deviation multiplier for pivot detection | Higher = fewer pivots |
Hloubka |
10 |
Minimum bars for calculation | Lower = more sensitive |
Obráceně |
false |
Reverse Fibonacci direction | For downtrends |
| Parameter | Default value | Description | Tip |
|---|---|---|---|
Období zpětného pohledu |
3 |
Signal lookback period | Adjust sensitivity |
Použít potvrzení objemem |
true |
Enable volume confirmation | Recommended |
Minimální násobitel objemu |
1.5 |
Volume multiplier threshold | Higher = stricter |
| Parameter | Default value | Description | Tip |
|---|---|---|---|
Zobrazit ceny |
true |
Show price levels | Recommended |
Zobrazit úrovně |
true |
Show Fibonacci percentages | Recommended |
Pozice popisků |
Vlevo |
Label position | Left or Right |
Průhlednost pozadí |
85 |
Background transparency | 0-100% |
Recommendation: Start with default settings and adjust based on your trading style!
sequenceDiagram
participant M as Market
participant F as Auto Fib
participant T as Trader
M->>F: ZigZag detects pivots
F->>F: Calculate Fibonacci levels
F->>T: Show retracement levels
M->>F: Price crosses key levels
F->>T: Generate BUY/SELL signal
T->>T: Make trading decision
Step by step:
- Add Auto Fib Retracement to your chart
- Wait for ZigZag to detect significant pivots
- Observe automatic Fibonacci level drawing
- Watch for BUY/SELL signal arrows
- Confirm signals with volume and candle patterns
Pro tip: Green triangles = BUY signals, Red triangles = SELL signals!
flowchart TD
A[Indicator starts] --> B[Initialize ZigZag]
B --> C[Detect pivots]
C --> D[Calculate Fibonacci levels]
D --> E[Draw retracement lines]
E --> F[Monitor price crossings]
F --> G{Signal conditions met?}
G -->|Yes| H[Generate BUY/SELL signal]
G -->|No| F
H --> I[Draw signal arrows]
I --> F
| Level | Value | Color | Significance |
|---|---|---|---|
| 0% | 0.0 | Gray | Start level |
| 23.6% | 0.236 | Red | Weak retracement |
| 38.2% | 0.382 | Green | Moderate retracement |
| 50% | 0.5 | Green | Strong retracement |
| 61.8% | 0.618 | Teal | Golden ratio |
| 78.6% | 0.786 | Blue | Deep retracement |
| 100% | 1.0 | Gray | Full retracement |
| 161.8% | 1.618 | Blue | Extension |
| 261.8% | 2.618 | Red | Strong extension |
Security: All levels are automatically calculated and updated with new pivots!
- Price crosses 0.618 or 0.786 Fibonacci level upward
- Bullish candle (close > open)
- Volume confirmation (if enabled): volume > SMA(20) × multiplier
- Price crosses 1.618 or 2.618 Fibonacci level downward
- Bearish candle (close < open)
- Volume confirmation (if enabled): volume > SMA(20) × multiplier
The indicator includes built-in alerts for:
- BUY Signal: "Fibonacci nákupní signál vygenerován"
- SELL Signal: "Fibonacci prodejní signál vygenerován"
- Level Crossings: Automatic alerts when price crosses any Fibonacci level
| Warning | Description | Reason |
|---|---|---|
| TradingView Subscription | Requires Pro or higher for full features | Some functions need premium access |
| Market Conditions | Works best in trending markets | May give false signals in sideways markets |
| Signal Confirmation | Always use additional analysis | No indicator is 100% accurate |
| Risk Management | Set appropriate stop losses | Protect your capital |
Golden rule: "Never rely on a single indicator for trading decisions!"
| Feature | Status | Description |
|---|---|---|
| Automatic Fibonacci | ✅ | Auto-draws from ZigZag pivots |
| Smart Signals | ✅ | BUY/SELL with confirmation |
| Volume Confirmation | ✅ | Optional volume-based validation |
| Customizable Levels | ✅ | Show/hide any Fibonacci level |
| Alert System | ✅ | Built-in alerts for signals |
Future plans: Maybe we'll add more Fibonacci extensions and custom levels!
This project is licensed under the MIT License - see the LICENSE file for details.
| Contact | Link |
|---|---|
| GitHub | @toz-panzmoravy |
| TradingView | panzmoravy |
| Ideas | I welcome feedback and suggestions! |
flowchart LR
A[Have a problem?] --> B[Check Issues]
B --> C[Create new issue]
C --> D[Attach screenshots]
D --> E[Wait for response]
E --> F[Problem solved!]
How to get help:
- Check Issues
- Create a new issue with problem description
- Attach screenshots and chart examples if possible