Automatic Fibonacci Levels from Recent Highs and Lows
Summary
SupremAutoFibo draws configurable Fibonacci levels using high and low prices over a selected period. Its inputs let the user choose the timeframe, the starting bar for the search, and the number of bars used to locate extremes. The displayed levels extend from negative values through zero and positive retracement or extension values, with separate controls for each line’s color, style, and width.
The document provides input parameters and default level settings, but does not show the calculation implementation or explain how the chosen extremes determine each plotted price. It also gives no entry, exit, or risk rules and includes no backtest or performance evidence. The indicator is therefore described as a charting aid for displaying Fibonacci reference levels; the document does not establish that these levels predict price behavior or provide an independently tested strategy.
Key ideas
- The indicator plots Fibonacci levels from high and low prices over a configurable lookback period.
- Users can select the calculation timeframe and where the search for extremes begins.
- Individual levels have configurable values, colors, line styles, and widths.
- The document gives no trading rules or evidence that the plotted levels produce an edge.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.