Fib Confluence

The "Fib Confluence" indicator (short title: FibConfLux) helps traders identify key market structures, Fibonacci retracement levels, swing levels, and engulfing patterns on any chart. Built on LuxAlgo’s foundational code, this enhanced tool highlights bullish and bearish CHoCH (Change of Character) structures, plots Fibonacci levels (e.g., 0.382, 0.618, 0.786), marks swing highs/lows, and detects engulfing candle patterns, providing confluence for trade setups.
Key Features
Market Structures (CHoCH):
Detects bullish (green) and bearish (red) CHoCH structures using ICT (Inner Circle Trader) principles, with customizable line styles (solid, dashed, dotted) and width.

Optionally highlights areas of interest around CHoCH zones with shaded boxes (default: enabled).

Fibonacci Retracement Levels:
Automatically plots Fibonacci levels (0, 0.236, 0.382, 0.5, 0.618, 0.65, 0.786, 1) between significant swing points, with toggleable visibility for each level.

Useful for identifying potential support/resistance zones during retracements.

Swing Levels:
Marks swing highs/lows with symbols (e.g., ◉, △▽, H/L) and customizable sizes (default: disabled).

Helps traders identify key pivot points for trend analysis.

Engulfing Patterns:
Detects bullish (▲) and bearish (▼) engulfing candles, either standalone or structure-based (default: structure-based), with adjustable symbol sizes.

Includes tooltips explaining each pattern’s significance for reversals.

Performance Optimization: Limits visuals to 500 labels, boxes, and lines for smooth performance on TradingView.

Perfect For
Swing and trend traders looking for confluence between market structures, Fibonacci levels, and candle patterns.

Traders using ICT methodologies to identify CHoCH and key reversal zones.

Those seeking to visualize swing levels and engulfing patterns on any asset or timeframe

Credit for Inspiration
This indicator is based on code originally developed by LuxAlgo, which provided the foundation for market structure detection and Fibonacci plotting. We’ve enhanced it by adding swing level visualization, structure-based engulfing patterns, and customizable visuals, ensuring significant improvements over the original framework.

Justification for Invite-Only Status
This indicator is offered as an Invite-Only script under PineAlpha Premium due to its optimized visualization and ongoing support (e.g., monthly access code updates, Discord assistance), justifying its paid access.