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📌 Market Structure Indicators
· ✅ AdvancedMarket Structure: Bos, Choch, SwinLevels, Order Blocks, Market Structure& Liquidity Finder
· 🔄 Dynamic Market StructureAnalysis of Turning Points
· 🧱 Order Block
· ⚖️ Market Imbalance
· ⛓️ BOS & CHOCH
· 🧠 ICT Power of 3
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🔚 Smart Exit Systems
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📐 ZigZag Indicators
· 🔍 ZigZag Price LiquidityProjection
· ➖ ZigZag
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🧱 Support & Resistance Indicators
· 🟩 SmartTrend Support &Resistance Lines
· 🧱 All Support and ResistanceLevels
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📊 Trend & Channel Indicators
· 📊 Supertrend
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💧 Volume & Liquidity Tools
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⚡ Momentum & RSI Indicators
· 🔎 Multi-Level Candle Bias
Tracker
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🔮 Prediction & Projection Tools
· 📐 Prediction Based on Linreg& ATR
· 📏 Fibonacci Linear RegressionMulti-timeframe
· 📈 Volume-Powered Market Flow Projector
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Fibonacci Pitchfan 📊✨
An advanced technical indicator that combines pivot detection, dynamic trendlines, and Fibonacci levels to create a visual tool helping traders identify trends, support/resistance zones, and potential reversal points. 🎯 Highly customizable, it adapts to different trading styles via configurable parameters. Below is a breakdown of its logic and calculations.
Core Components 🔧
The indicator relies on three key elements working together:
1. Pivot Detection 🔄
- Identifies key price reversal points (high/low pivots).
- Uses a user-defined bar range (pivot depth) to determine if a bar is a significant high/low vs. surrounding bars.
- Filters noise by requiring pivots to exceed an ATR-based deviation threshold, ensuring only relevant price swings are considered.
2. TrendFan & Fibonacci Levels 📐
- Projects a fan of dynamic trendlines from a historical pivot into the future, using predefined levels (e.g., 0.25, 0.5, 1.0) to mark potential support/resistance.
- Optional Fibonacci levels (horizontal lines) highlight retracement/extensions between key pivots.
Calculation Logic 🧮
1. Pivot Identification
- For each bar, the algorithm scans a symmetrical range of prior/following bars (based on pivot depth).
- A high pivot is confirmed if the bar’s high is the highest in the range; a low pivot if its low is the lowest.
- The deviation threshold (a % of ATR relative to price) filters out minor fluctuations, focusing on meaningful market moves.
2. TrendFan Generation 🌪️
- A reference historical pivot (configurable) is paired with the latest pivot to form a baseline.
- A median line is drawn between them, and projected trendlines (at predefined levels) extend into the future, creating a "fan" of key price zones.
3. Fibonacci Projections 🔢
- Retracement levels (e.g., 0.236, 0.5, 0.618) mark potential pullback areas within the prior price move.
- Extension levels project price targets beyond the initial range, adjusted for trend direction.
- Levels can be inverted or extended based on user settings.
Customizable Settings ⚙️
- Deviation Threshold: Adjusts sensitivity to price moves (ATR-based).
- Pivot Depth: Defines the bar range for pivot detection (affects signal frequency).
- Historical Reference: Sets how far back the initial pivot is selected for the TrendFan.
- Visibility: Toggles TrendFan/Fibonacci display and selects specific levels to show.
Conclusion 🏆
The Fibonacci Pitchfan is a powerful all-in-one tool for traders seeking a clear, dynamic view of market structure. By merging pivots, trendlines, and Fibonacci levels, it provides actionable insights to anticipate price movements and make informed decisions. 🚀