Description
Smart Fibonacci is a technical indicator designed to simplify and automate the use of Fibonacci retracements and extensions. Rather than manually anchoring swing highs and lows, the indicator identifies valid points based on chart structure and user-defined sensitivity, then draws the appropriate Fibonacci levels automatically.
The indicator supports both retracement and extension modes, and dynamically decides which one is more suitable based on recent price action. It also offers three different behaviors: display only the most recent Fibonacci object, show all Fibonacci levels across the chart, or focus on significant swing levels.
Once the Fibonacci objects are drawn, users still have full manual control to adjust anchor points or customize appearance. Line styles, level values, and colors can be edited to match personal trading preferences. One of its key features is zoom adaptability: zooming out displays large-scale price swings, while zooming in reveals finer retracement opportunities based on shorter-term movements. This allows traders to use a single indicator for both macro and micro Fibonacci analysis.
Smart Fibonacci is ideal for traders who rely on confluence strategies, as it quickly highlights areas where Fibonacci levels overlap or align with other technical indicators. It reduces chart clutter, speeds up technical analysis, and provides consistent, repeatable trade signals based on reliable price structure.
Input Parameters
- Amplitude - Amount of bars between alternative price points of the short term Fibo object
- Behavior - The indicator can draw two Fibo objects, just the latest one, or just the complete chart one
- Drawing Settings - The block is self-explanatory
Disclaimer
This indicator is a tool for technical analysis only and is designed to assist in chart interpretation. It does not constitute financial advice, investment recommendation, or any guarantee of results. Trading involves a high risk of loss and can result in the loss of your entire capital. Use this indicator at your own risk and only with money you can afford to lose. For complete details, please read our Terms and Conditions.
