indicator · on price · open source
Fibonacci Pivot Points
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About
Fibonacci-weighted pivots — the spread between yesterday's high and low is multiplied by 0.382 / 0.618 / 1.5 to project three support and three resistance levels from PP.
- Tighter spacing than Woodie/Camarilla; fits instruments with shallow ranges.
- Watch for reactions at the 0.382 and 0.618 bands — they often coincide with prior swing points.
Source code
//@version=5
indicator("Fibonacci Pivot Points", overlay=true)
pp = (ta.highest(high, 1)[1] + ta.lowest(low, 1)[1] + close[1]) / 3
r1 = pp + 0.382 * (ta.highest(high, 1)[1] - ta.lowest(low, 1)[1])
s1 = pp - 0.382 * (ta.highest(high, 1)[1] - ta.lowest(low, 1)[1])
r2 = pp + 0.618 * (ta.highest(high, 1)[1] - ta.lowest(low, 1)[1])
s2 = pp - 0.618 * (ta.highest(high, 1)[1] - ta.lowest(low, 1)[1])
r3 = pp + 1.5 * (ta.highest(high, 1)[1] - ta.lowest(low, 1)[1])
s3 = pp - 1.5 * (ta.highest(high, 1)[1] - ta.lowest(low, 1)[1])
p_PP = plot(pp, "PP", color=color.yellow, linewidth=2)
p_R1 = plot(r1, "R1", color=color.green, style=plot.style_linebr)
p_R2 = plot(r2, "R2", color=color.green, style=plot.style_linebr)
p_R3 = plot(r3, "R3", color=color.green, style=plot.style_linebr)
p_S1 = plot(s1, "S1", color=color.red, style=plot.style_linebr)
p_S2 = plot(s2, "S2", color=color.red, style=plot.style_linebr)
p_S3 = plot(s3, "S3", color=color.red, style=plot.style_linebr)
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