Auto Fib Retracement is a technical analysis indicator that automatically identifies significant recent price pivots using a dynamic ZigZag algorithm and plots Fibonacci retracement and extension levels in real-time. It analyzes price bars backward (Lookback parameter) and applies a sensitivity threshold based on a multiple of the 10-period Average True Range (ATR) to detect meaningful market swings. Once two key pivots (high and low) are detected, the indicator calculates classic Fibonacci levels using the formula: Level = Anchor Price + (Movement Range × Fibonacci Ratio). It supports 22 configurable Fibonacci ratios, including standard retracement levels (0.236, 0.382, 0.5, 0.618, etc.) and extensions (1.272, 1.618, 2.618, etc.), as well as negative levels.
The indicator helps traders identify potential support and resistance zones, define price targets, plan entries on pullbacks, set stop-losses beyond key levels, and confirm reversal zones when price reaches extreme extensions. It works on any timeframe and financial asset, including Forex, stocks, commodities, indices, and cryptocurrencies such as BTCUSD, EURUSD, GBPUSD, XAUUSD, NAS100, and others.
Users can customize parameters like sensitivity, lookback period, direction inversion, and display options (line extension, price and ratio labels, zone opacity, and colors). Colored zones visually highlight key Fibonacci areas for easier interpretation. The indicator updates automatically with new pivots and redraws levels on the latest bar to optimize performance.