This indicator plots automatic Fibonacci speed resistance fans on the price chart using zigzag pivots derived from TradingView’s auto Fibonacci retracement logic.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Deviation and depth set how far price must move and how many bars form each pivot. Optional settings add a second experimental fan, earlier historical fans, reversed levels, a zigzag overlay, a price grid, and background coloring. Labels can show fan levels and prices at the top, bottom, left, or right. It does not create entries, exits, or stop-loss rules.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Deviation
float
3
threshold_multiplier
Depth
int
11
depth
Second Fib Speed Resistance Fan (Experimental Alternative)
bool
false
secondFans
Historical Fans
int
0
histPivot
Reverse Fan Levels
bool
false
reverse
UniColor
bool
false
uniColor
First | Second Fans
color
#0ac9f0
uniColor1
uniColor2
color
#ffa726
uniColor2
Label Size
string
Normal
lSize
Grid
bool
true
show_grid
color
#153899ce
color_grid
width_grid
int
1
width_grid
Show all 40 settings
Setting
Type
Default
Variable
style_grid
string
Solid
style_grid
Zig Zag
bool
false
ZigZag
zzColor
color
#c77a08
zzColor
zzWidth
int
1
zzWidth
zzStyle
string
Solid
zzStyle
Price Grid Lines : Extend | Apply Level Colors
bool
false
extendPGrid
pGridColor
bool
false
pGridColor
Left Labels
string
Levels (Prices)
lbLeft
Right Labels
string
Levels
lbRight
Background
bool
true
priceBg
Top Labels | Bottom Lables
bool
true
tpLabel
btLabel
bool
true
btLabel
Background
bool
true
timeBg
pshow_0
bool
true
pshow_0
pvalue_0
float
0.
pvalue_0
pcolor_0
color
#787b86
pcolor_0
pwidth_0
int
1
pwidth_0
pstyle_0
string
Solid
pstyle_0
pshow_0_25
bool
true
pshow_0_25
pvalue_0_25
float
.25
pvalue_0_25
pcolor_0_25
color
#f57c00
pcolor_0_25
pwidth_0_25
int
1
pwidth_0_25
pstyle_0_25
string
Solid
pstyle_0_25
pshow_0_382
bool
true
pshow_0_382
pvalue_0_382
float
.382
pvalue_0_382
pcolor_0_382
color
#81c784
pcolor_0_382
pwidth_0_382
int
1
pwidth_0_382
pstyle_0_382
string
Solid
pstyle_0_382
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