📈 AutoFibRetracement Indicator

The AutoFibRetracement indicator is a powerful overlay tool designed to automatically plot Fibonacci retracement levels based on recent price swings. Ideal for traders seeking to identify potential support and resistance zones, this indicator dynamically calculates retracement levels using customizable parameters and displays them directly on the chart.

🔧 Key Features:

• Automatic Swing Detection: Calculates swing highs and lows within a user-defined lookback window.

• Customizable Period Window: Traders must select an appropriate window to accurately capture meaningful swing highs and lows. This choice is crucial for aligning retracement levels with actual market structure.

• Fibonacci Levels: Includes standard ratios — 0%, 23.6%, 38.2%, 50%, 61.8%, 78.6%, and 100% — each color-coded for visual clarity.

• Visual Styling Options:

• Adjustable opacity (0–255) for line transparency.

• Configurable line thickness and style (e.g., dotted, solid).

• Overlay Display: Draws directly on the price chart for seamless integration with other technical analysis tools.

🎯 Use Case:

Perfect for swing traders, trend followers, and technical analysts who rely on Fibonacci retracement zones to plan entries, exits, and stop-loss levels. The effectiveness of this indicator depends on the trader’s ability to choose the correct window size — too short may miss broader swings, too long may dilute recent price action.