Custom-Session Fibonacci Pivot Points and Range Extensions

Summary

This indicator calculates Fibonacci-style pivot levels from the prior period’s high, low, and close. It supports daily, weekly, monthly, and four-hour periods, with a custom-session option for daily calculations. Users specify session start and finish times so the daily range can be based on selected trading hours, such as a cash or futures session within a longer CFD feed.

The indicator plots pivot support and resistance levels, intermediate zones, and Fibonacci retracement levels. Its additions include extensions beyond the previous session’s range and a rectangle highlighting that custom range. The code describes plotting and period selection rather than a trading rule, and it provides no performance tests or evidence that the levels predict price behavior. Results depend on the instrument’s data, session boundaries, timezone, and correct configuration; the examples are setup illustrations, not validation of a trading edge.

Key ideas

• Daily custom pivots can use user-defined session start and finish times to isolate a chosen trading range.
• Pivot levels are calculated from the previous period’s high, low, and close.
• The indicator can display support and resistance levels, midpoint zones, and Fibonacci retracements.
• Added range extensions project Fibonacci levels above and below the prior range.
• The code is a plotting tool and supplies no evidence that its levels produce profitable trades.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.