This indicator plots a ribbon of seven exponential moving averages based on Fibonacci lengths (8, 13, 21, 34, 55, 89, and 144) directly on the price chart.
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
Fibonacci Volumetric MA Ribbon calculates volume-weighted distance gaps between consecutive moving averages normalized against a 50-period volume average. Based on moving average alignment and volumetric expansion relative to a 20-period signal line, it classifies market structure into strong, weak, or ranging conditions and displays the result in an on-screen dashboard table.
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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