Vegas Tunnel
This indicator adds and subtracts fib levels from the moving average. I suppose profits are meant to be taken at certain levels. Additionally, it may help in finding tops and bottoms. There's more info here: www.forexstrategiesr...t4/103-vegas-tunnel/
The fib levels should be changed depending on time frame:
short) 5, 8, 13, 21
intermediate) 34, 55, 89, 144
long) 55, 89, 144, 233
The fib levels should be changed depending on time frame:
short) 5, 8, 13, 21
intermediate) 34, 55, 89, 144
long) 55, 89, 144, 233
study("Vegas Tunnel", overlay=true)
length = input(21, minval=1)
fib1 = input(55)
fib2 = input(89)
fib3 = input(144)
fib4 = input(233)
avg = ema(close, length)
fp1 = syminfo.mintick*fib1
fp2 = syminfo.mintick*fib2
fp3 = syminfo.mintick*fib3
fp4 = syminfo.mintick*fib4
plot(avg, color=fuchsia, linewidth=2)
plot(avg + fp1)
plot(avg + fp2)
plot(avg + fp3)
plot(avg + fp4)
plot(avg - fp1)
plot(avg - fp2)
plot(avg - fp3)
plot(avg - fp4)