Fibonacci Average Range

MainImage
Added: Mar 7, 2024
This indicator is free to use on any of the available platforms
TradingView
TradingView
Get Access
NinjaTrader
NinjaTrader
Current Version: 1.0.0.1
Get Access
Price Action
Support/Resistance
Overview
The Fibonacci Average Range indicator provides unique insight into key price-action levels within the market that can serve as powerful support and resistance levels.

The Fibonacci Average Range is automatically generated purely from price-action; simplifying the decision-making process because price-action focuses on the most critical factor, price.

Through the use of its Fibonacci retracement levels, traders will be able to more accurately predict future direction and price movement of any given commodity.

The Fibonacci Average Range indicator is a powerful trading tool that provides unique insight into the market that can provide value to a wide variety of trading styles.

The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.


USAGE

At the beginning of each trading day, the script will use relevant price-action information to calculate an expected range for the current trading day, giving traders unique insight into potential levels of support and resistance within the market.

Depending on current market conditions, the script will either generate from the current day’s high or the current day’s low, depending on whether the market shows bullish or bearish strength.

Within the total projected range, several other levels will be identified and labelled. These levels combine the script’s prediction for the day’s range and key Fibonacci Ratios to identify potentially powerful levels of support and resistance within.

Each line also has a label to identify what it represents, and these labels can be turned off in the settings.


SETTINGS

Configuration

• Show Labels: Determines whether labels get drawn.
• Current Day Open: Determines whether a line representing the current day’s open is drawn.
• Display Mode: Determines the number of days the script will load.


Line Settings

• Line Width: Determines the width of lines.
• Line Style; Determines the style of lines.


Release Notes:
NinjaTrader - 1.0.0.1 Jul 13 2024
• Added price to each level
Discord
PRODUCT
FAQ
COMPANY
MY ACCOUNT

Trading is risky and many will lose money in connection with trading activities. All content on this site is not intended to, and should not be, construed as financial advice. Decisions to buy, sell, hold or trade in securities, commodities and other markets involve risk and are best made based on the advice of qualified financial professionals. Past performance does not guarantee future results.

Hypothetical or Simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, including, but not limited to, lack of liquidity. Simulated trading programs in general are designed with the benefit of hindsight, and are based on historical information. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.

Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.

As a provider of technical analysis tools for charting platforms, we do not have access to the personal trading accounts or brokerage statements of our customers. As a result, we have no reason to believe our customers perform better or worse than traders as a whole based on any content or tool we provide.

Charts used on this site are by NinjaTrader in which the majority of our tools are built on. NinjaTrader® is a registered trademark of NinjaTrader, Inc. www.NinjaTrader.com. NinjaTrader® has no affiliation with the owner, developer, or provider of the Services described herein.

This does not represent our full Disclaimer. Please read our full disclaimer