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This indicator allows you to display the most important Fibonacci levels in your chart. The seven major Fibonacci levels are: 0% - 23,6% - 38,2% - 50% - 61,8% - 76,4% - 100%. Some traders limit themselves to these four Fibonacci levels: 0% - 23,6% - 61,8% - 100%. The Fibonacci levels can be displayed in the chart in two different ways. The first possibility is from a chosen point in the past up to today. The second possibility is between two chosen points in the past.
This example shows the seven Fibonacci levels. The trader opted to calculate the levels 20 periods back starting from the current candle.
This example shows the four Fibonacci levels. The trader opted to calculate them over a period starting 8 candles back from the current candle and with a span of 20 candles.
Tip: put the parameter "show_level" on 1 to see four Fibonacci levels; put "show_level" on 2 to see all seven Fibonacci levels.
Tip: put "x2" on 0 to start from the current candle.