Confirmed-Swing Fibonacci Levels with a Non-Repainting Anchor Method
Summary
The document describes a Fibonacci chart indicator that anchors retracement levels to confirmed market swings. Its stated design replaces a ZigZag dependency with a reverse-scan swing-detection engine; once a high or low is confirmed, the associated levels are intended to remain fixed. When consecutive highs appear, the method keeps the highest candidate as the anchor. Hollow markers indicate possible swings that have not yet been confirmed.
This is an indicator description rather than a trading study. It provides no rules for entering or exiting positions, no performance evidence, and no detail sufficient to evaluate how swing confirmation behaves across markets or timeframes. The claims about avoiding repainting and improving anchor selection are product assertions, not results supported by tests in the document.
Key ideas
- The indicator draws Fibonacci levels from market swings after they are confirmed.
- Its reverse-scan engine is presented as an alternative to a ZigZag dependency.
- For consecutive highs, the method retains the highest point as the anchor.
- Unconfirmed potential swings are marked separately from confirmed swings.
- The description gives no backtest evidence or complete trading rules.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.