📊 TECHNICAL
Auto Fibonacci
Automatically detects the dominant swing high/low over a lookback period and plots standard Fibonacci retracement levels — no manual anchor-dragging needed.
175KUses
14600Likes
0Comments
Live Demo — Auto Fibonacci applied to NIFTY 50 (illustrative)
PriceEMA(9)EMA(21)SMA(20)
What is Auto Fibonacci?
Finds the most significant swing high and low within a defined period and instantly draws standard Fibonacci retracement levels between them. Unlike the manual Fibonacci tool, which requires clicking anchor points, this version detects the swing and redraws automatically.
How It Works
- Scans the last
periodbars to find the highest high and lowest low. - Determines swing direction based on which extreme occurred more recently.
- Plots levels: 0%, 23.6%, 38.2%, 50%, 61.8%, 78.6%, 100%.
- Anchors and levels auto-update as new bars form.
Parameters
| Parameter | Default | Description |
|---|---|---|
| period | 50 | Number of bars scanned to find the dominant swing high/low |
Signal Interpretation
- The 38.2%-61.8% band is the classic golden zone where pullbacks find support/resistance.
- A bounce off 61.8% with follow-through suggests the prior trend is resuming.
- A break through 78.6% toward 100% suggests the prior swing may be fully retraced.
- The 50% level is watched as a psychological half-retracement marker.
- Confluence with an AI Support & Resistance level strengthens the case for a reaction.
Tips & Best Practices
- Shorten
periodon choppier, lower timeframes. - Treat sudden anchor shifts as a signal the dominant swing has changed.
- Use alongside candle confirmation rather than trading the touch alone.