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
BOSFibAlgo (Break of Structure + Fibonacci) identifies bullish or bearish Breaks of Structure (BOS) when the close price breaks key swing levels. The indicator incorporates Fibonacci retracement levels and calculates potential ATR-based stop loss and take profit targets. Pivot lookbacks, Fibonacci ratios, and ATR multipliers can be adjusted in the settings. All calculations overlay directly on the main price chart with a confirmation delay corresponding to the pivot right bars setting.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Pivot Left Bars
int
10
leftBars
Pivot Right Bars
int
10
rightBars
Fib Retracement 38.2%
float
0.382
fib382
Fib Retracement 50.0%
float
0.5
fib500
Fib Retracement 61.8%
float
0.618
fib618
ATR Length
int
14
atrLength
ATR Multiplier SL
float
2.0
atrMultiplierSL
ATR Multiplier TP
float
4.0
atrMultiplierTP
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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