The TrendFibonacci indicator is designed to help traders identify critical price levels and market trends with precision. By integrating Fibonacci retracement levels with a Weighted Moving Average (WMA) and Average True Range (ATR), this indicator provides a clear, visual representation of support, resistance, and trend direction.

Key Features:

• Dynamic Fibonacci Levels: Automatically calculates and plots Fibonacci retracement levels (default: 0.382 and 0.618) based on the highest high and lowest low over a user-defined lookback period.
• Weighted Moving Average (WMA): Uses a 6-period WMA to gauge trend direction, with color-coded candles (Green for bullish, Red for bearish, Yellow for neutral) to reflect the WMA’s position relative to Fibonacci levels.
• Customizable Parameters: Adjust the analysis period, Fibonacci levels, and toggle features like filled zones and candle color changes.
• Visual Clarity: Plots high/low lines and fills areas between Fibonacci levels with semi-transparent colors for easy trend identification.
• ATR Integration: Incorporates a 200-period ATR for robust market analysis, ensuring adaptability to volatility.

This indicator is ideal for traders seeking to combine Fibonacci analysis with trend-following strategies. Whether you're trading forex, stocks, or commodities, TrendFibonacci enhances your ability to spot key reversal zones and make informed trading decisions.

How to Use

1. Install the Indicator:
2. • Add the TrendFibonacci indicator to your cTrader platform by uploading the source code or downloading it from the marketplace.
2. Configure Parameters:
3. • Analysis Period: Set the lookback period (default: 50 bars) to determine the range for calculating high/low prices.
   • Lower Fibonacci Level: Adjust the lower Fibonacci retracement level (default: 0.382).
   • Upper Fibonacci Level: Adjust the upper Fibonacci retracement level (default: 0.618).
   • Show Filling: Enable/disable filled zones between Fibonacci levels (default: enabled).
   • Change Candle Color: Enable/disable color-coded candles based on WMA position (default: enabled).
3. Interpret the Indicator:
4. • Green Candles: Indicate a bullish trend when the WMA is above the upper Fibonacci level.
   • Red Candles: Signal a bearish trend when the WMA is below the lower Fibonacci level.
   • Yellow Candles: Suggest a neutral zone when the WMA is between the Fibonacci levels.
   • Filled Zones: Visualize key price zones between the high/low lines and Fibonacci levels for support/resistance analysis.
4. Trading Application:
5. • Use the indicator to identify potential entry/exit points at Fibonacci levels.
   • Combine with other technical tools (e.g., RSI, MACD) for confirmation.
   • Monitor color-coded candles to assess trend strength and direction.
5. Best Practices:
6. • Test the indicator on a demo account to familiarize yourself with its behavior.
   • Adjust parameters to suit your trading style and market conditions.
   • Use on higher timeframes (e.g., H1, H4) for more reliable signals.

The TrendFibonacci indicator is a versatile tool for traders of all levels, offering clear, actionable insights into market trends and price levels.