PnF Fibonacci Levels with Alerts

1 ต.ค.

My Pine Script indicator, "PnF Fibonacci Levels with Alerts," overlays on a trading chart to generate alerts based on Fibonacci levels in Point and Figure (PnF) charts.

Key Features:
Inputs and Initialization:
It uses a customizable Fibonacci level (set at 0.236) and initializes variables for tracking the high and low of O and X columns.

O Column Logic:
When the current column is identified as an O column (when the close is less than the open), it calculates the Fibonacci level based on the high and low of that column, drawing a line on the chart.

Buy Alert:
If the closing price of the previous bar is above the Fibonacci level of the O column, a buy alert is triggered.

X Column Logic:
If the current column is an X column and the close is above the previous O column's low, it captures the current high and low, calculates the Fibonacci level, and draws it on the chart.

Sell Alert:
A sell alert is triggered if the closing price of the X column is at or below the specified Fibonacci level.

This indicator aids traders by highlighting critical Fibonacci levels and providing timely alerts for potential buy and sell opportunities.