Fibonacci Retracement: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
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

173 lines of Pine Script v6 from indicators/fibonacci-retracement.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.

fibonacci-retracement.pine

//@version=6
indicator("Fibonacci Retracement", "FIB", overlay = true)

import TradingView/ZigZag/8 as zigzag

deviationTooltip = "Deviation is a multiplier that affects how much the price should deviate from the previous pivot in order for the bar to become a new pivot."
depthTooltip = "The minimum number of bars that will be taken into account when calculating the indicator."

deviationMultiplier = input.float(3.0, "Deviation", minval = 0, tooltip = deviationTooltip)
depth = input.int(10, "Depth", minval = 2, tooltip = depthTooltip)
reverse = input.bool(false, "Reverse")
extendLeft = input.bool(false, "Extend Left    |    Extend Right", inline = "Extend Lines")
extendRight = input.bool(true, "", inline = "Extend Lines")
showPrices = input.bool(true, "Show Prices")
showLevels = input.bool(true, "Show Levels", inline = "Levels")
levelsFormat = input.string("Values", "", options = ["Values", "Percent"], inline = "Levels")
labelsPosition = input.string("Left", "Labels Position", options = ["Left", "Right"])
backgroundTransparency = input.int(85, "Background Transparency", minval = 0, maxval = 100)

show0 = input.bool(true, "", inline = "Level0")
value0 = input.float(0.0, "", inline = "Level0")
color0 = input.color(#787b86, "", inline = "Level0")
show0236 = input.bool(true, "", inline = "Level0")
value0236 = input.float(0.236, "", inline = "Level0")
color0236 = input.color(#f44336, "", inline = "Level0")
show0382 = input.bool(true, "", inline = "Level1")
value0382 = input.float(0.382, "", inline = "Level1")
color0382 = input.color(#81c784, "", inline = "Level1")
show05 = input.bool(true, "", inline = "Level1")
value05 = input.float(0.5, "", inline = "Level1")
color05 = input.color(#4caf50, "", inline = "Level1")
show0618 = input.bool(true, "", inline = "Level2")
value0618 = input.float(0.618, "", inline = "Level2")
color0618 = input.color(#009688, "", inline = "Level2")
show065 = input.bool(false, "", inline = "Level2")
value065 = input.float(0.65, "", inline = "Level2")
color065 = input.color(#009688, "", inline = "Level2")
show0786 = input.bool(true, "", inline = "Level3")
value0786 = input.float(0.786, "", inline = "Level3")
color0786 = input.color(#64b5f6, "", inline = "Level3")
show1 = input.bool(true, "", inline = "Level3")
value1 = input.float(1.0, "", inline = "Level3")
color1 = input.color(#787b86, "", inline = "Level3")
show1272 = input.bool(false, "", inline = "Level4")
value1272 = input.float(1.272, "", inline = "Level4")
color1272 = input.color(#81c784, "", inline = "Level4")
show1414 = input.bool(false, "", inline = "Level4")
value1414 = input.float(1.414, "", inline = "Level4")
color1414 = input.color(#f44336, "", inline = "Level4")
show1618 = input.bool(true, "", inline = "Level5")
value1618 = input.float(1.618, "", inline = "Level5")
color1618 = input.color(#2962ff, "", inline = "Level5")
show165 = input.bool(false, "", inline = "Level5")
value165 = input.float(1.65, "", inline = "Level5")
color165 = input.color(#2962ff, "", inline = "Level5")
show2618 = input.bool(true, "", inline = "Level6")
value2618 = input.float(2.618, "", inline = "Level6")
color2618 = input.color(#f44336, "", inline = "Level6")
show265 = input.bool(false, "", inline = "Level6")
value265 = input.float(2.65, "", inline = "Level6")
color265 = input.color(#f44336, "", inline = "Level6")
show3618 = input.bool(true, "", inline = "Level7")
value3618 = input.float(3.618, "", inline = "Level7")
color3618 = input.color(#9c27b0, "", inline = "Level7")
show365 = input.bool(false, "", inline = "Level7")
value365 = input.float(3.65, "", inline = "Level7")
color365 = input.color(#9c27b0, "", inline = "Level7")
show4236 = input.bool(true, "", inline = "Level8")
value4236 = input.float(4.236, "", inline = "Level8")
color4236 = input.color(#e91e63, "", inline = "Level8")
show4618 = input.bool(false, "", inline = "Level8")
value4618 = input.float(4.618, "", inline = "Level8")
color4618 = input.color(#81c784, "", inline = "Level8")
showNeg0236 = input.bool(false, "", inline = "Level9")
valueNeg0236 = input.float(-0.236, "", inline = "Level9")
colorNeg0236 = input.color(#f44336, "", inline = "Level9")
showNeg0382 = input.bool(false, "", inline = "Level9")
valueNeg0382 = input.float(-0.382, "", inline = "Level9")
colorNeg0382 = input.color(#81c784, "", inline = "Level9")
showNeg0618 = input.bool(false, "", inline = "Level10")
valueNeg0618 = input.float(-0.618, "", inline = "Level10")
colorNeg0618 = input.color(#009688, "", inline = "Level10")
showNeg065 = input.bool(false, "", inline = "Level10")
valueNeg065 = input.float(-0.65, "", inline = "Level10")
colorNeg065 = input.color(#009688, "", inline = "Level10")

extending = extendLeft and extendRight ? extend.both : extendLeft ? extend.left : extendRight ? extend.right : extend.none
labelPadding = '\n ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏  ‏ \n'

update() =>
    var settings = zigzag.Settings.new(deviationMultiplier, depth, color(na), false, false, false, false, "Absolute", true)
    var zigzag.ZigZag zigZag = zigzag.newInstance(settings)
    var zigzag.Pivot lastPivot = na
    var float startPrice = na
    var float height = na
    settings.devThreshold := ta.atr(10) / close * 100 * deviationMultiplier
    if zigZag.update()
        lastPivot := zigZag.lastPivot()
        if not na(lastPivot)
            var line lastLine = na
            if na(lastLine)
                lastLine := line.new(lastPivot.start.time, lastPivot.start.price, lastPivot.end.time, lastPivot.end.price, xloc = xloc.bar_time, color = color.gray, width = 1, style = line.style_dashed)
            else
                line.set_xy1(lastLine, lastPivot.start.time, lastPivot.start.price)
                line.set_xy2(lastLine, lastPivot.end.time, lastPivot.end.price)
            startPrice := reverse ? lastPivot.start.price : lastPivot.end.price
            endPrice = reverse ? lastPivot.end.price : lastPivot.start.price
            height := (startPrice > endPrice ? -1 : 1) * math.abs(startPrice - endPrice)
    [lastPivot, startPrice, height]

[lastPivot, startPrice, height] = update()

drawLine(price, lineColor) =>
    var id = line.new(lastPivot.start.time, lastPivot.start.price, time, price, xloc = xloc.bar_time, color = lineColor, width = 1, extend = extending)
    line.set_xy1(id, lastPivot.start.time, price)
    line.set_xy2(id, lastPivot.end.time, price)
    id

drawLabel(price, labelText, textColor) =>
    onLeft = labelsPosition == "Left"
    x = onLeft ? lastPivot.start.time : not extendRight ? lastPivot.end.time : time
    labelStyle = onLeft ? label.style_label_right : label.style_label_left
    align = onLeft ? text.align_right : text.align_left
    content = (onLeft ? "" : '       ') + labelText + labelPadding
    var id = label.new(x = x, y = price, xloc = xloc.bar_time, text = content, textcolor = textColor, style = labelStyle, textalign = align, color = #00000000)
    label.set_xy(id, x, price)
    label.set_text(id, content)
    label.set_textcolor(id, textColor)

levelText(level, price) =>
    value = levelsFormat == "Values" ? str.tostring(level) : str.tostring(level * 100) + "%"
    (showLevels ? value : "") + (showPrices ? "(" + str.tostring(price, format.mintick) + ")" : "")

crossedLevel(source, level) =>
    (level > source and level < source[1]) or (level < source and level > source[1])

processLevel(show, value, levelColor, previousLine) =>
    level = startPrice + height * value
    crossed = crossedLevel(close, level)
    if show and not na(lastPivot)
        lineId = drawLine(level, levelColor)
        drawLabel(level, levelText(value, level), levelColor)
        if crossed
            alert("Autofib: " + syminfo.ticker + " crossing level " + str.tostring(value))
        if not na(previousLine)
            linefill.new(lineId, previousLine, color.new(levelColor, backgroundTransparency))
        lineId
    else
        previousLine

previousLine = line(na)
previousLine := processLevel(showNeg065, valueNeg065, colorNeg065, previousLine)
previousLine := processLevel(showNeg0618, valueNeg0618, colorNeg0618, previousLine)
previousLine := processLevel(showNeg0382, valueNeg0382, colorNeg0382, previousLine)
previousLine := processLevel(showNeg0236, valueNeg0236, colorNeg0236, previousLine)
previousLine := processLevel(show0, value0, color0, previousLine)
previousLine := processLevel(show0236, value0236, color0236, previousLine)
previousLine := processLevel(show0382, value0382, color0382, previousLine)
previousLine := processLevel(show05, value05, color05, previousLine)
previousLine := processLevel(show0618, value0618, color0618, previousLine)
previousLine := processLevel(show065, value065, color065, previousLine)
previousLine := processLevel(show0786, value0786, color0786, previousLine)
previousLine := processLevel(show1, value1, color1, previousLine)
previousLine := processLevel(show1272, value1272, color1272, previousLine)
previousLine := processLevel(show1414, value1414, color1414, previousLine)
previousLine := processLevel(show1618, value1618, color1618, previousLine)
previousLine := processLevel(show165, value165, color165, previousLine)
previousLine := processLevel(show2618, value2618, color2618, previousLine)
previousLine := processLevel(show265, value265, color265, previousLine)
previousLine := processLevel(show3618, value3618, color3618, previousLine)
previousLine := processLevel(show365, value365, color365, previousLine)
previousLine := processLevel(show4236, value4236, color4236, previousLine)
previousLine := processLevel(show4618, value4618, color4618, previousLine)

Overview

Utilizing a ZigZag library to identify major price swings, it draws horizontal levels corresponding to key ratios such as 0.236, 0.382, 0.5, 0.618, and 0.786. Inputs allow adjustments to swing deviation, depth, line extensions, level formatting, and visual styles. Because it relies on ZigZag calculations, level lines update dynamically as new price swings emerge.

Automatic swing detection via ZigZag library
Customizable Fibonacci retracement and extension levels
Flexible line extension and label positioning settings
Price values and level percentage display toggles

Details

Published by

AkashSasikumar47 on GitHub

Type

Indicator, Pine Script v6

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

Signals can change on the live bar or after it closes (repainting)

File

indicators/fibonacci-retracement.pine

Repository

github.com/AkashSasikumar47/pine-strategy-indicators-v3. See its other scripts in the library

Topics

pine-scriptpinescript-v6technical-analysistrading-indicatorstradingview

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Deviation	`float`	`3.0`	`deviationMultiplier`
Depth	`int`	`10`	`depth`
Reverse	`bool`	`false`	`reverse`
Extend Left \| Extend Right	`bool`	`false`	`extendLeft`
extendRight	`bool`	`true`	`extendRight`
Show Prices	`bool`	`true`	`showPrices`
Show Levels	`bool`	`true`	`showLevels`
levelsFormat	`string`	`Values`	`levelsFormat`
Labels Position	`string`	`Left`	`labelsPosition`
Background Transparency	`int`	`85`	`backgroundTransparency`
show0	`bool`	`true`	`show0`
value0	`float`	`0.0`	`value0`

Show all 40 settings

Setting	Type	Default	Variable
color0	`color`	`#787b86`	`color0`
show0236	`bool`	`true`	`show0236`
value0236	`float`	`0.236`	`value0236`
color0236	`color`	`#f44336`	`color0236`
show0382	`bool`	`true`	`show0382`
value0382	`float`	`0.382`	`value0382`
color0382	`color`	`#81c784`	`color0382`
show05	`bool`	`true`	`show05`
value05	`float`	`0.5`	`value05`
color05	`color`	`#4caf50`	`color05`
show0618	`bool`	`true`	`show0618`
value0618	`float`	`0.618`	`value0618`
color0618	`color`	`#009688`	`color0618`
show065	`bool`	`false`	`show065`
value065	`float`	`0.65`	`value065`
color065	`color`	`#009688`	`color065`
show0786	`bool`	`true`	`show0786`
value0786	`float`	`0.786`	`value0786`
color0786	`color`	`#64b5f6`	`color0786`
show1	`bool`	`true`	`show1`
value1	`float`	`1.0`	`value1`
color1	`color`	`#787b86`	`color1`
show1272	`bool`	`false`	`show1272`
value1272	`float`	`1.272`	`value1272`
color1272	`color`	`#81c784`	`color1272`
show1414	`bool`	`false`	`show1414`
value1414	`float`	`1.414`	`value1414`
color1414	`color`	`#f44336`	`color1414`

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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