Auto-Fibonacci Levels [ChartWhizzperer]

Auto-Fibonacci Levels [ChartWhizzperer]

Discover one of the most elegant and flexible Fibonacci indicators for TradingView – fully automatic, tastefully understated, and built entirely in Pine Script V6.

Key Features:
- Automatically detects the most recent swing high and swing low.
- Plots Fibonacci retracement levels and extensions (including 161.8%, 261.8%) perfectly aligned
to the prevailing trend.
- Distinctive, dashed lines with crystal-clear price labels right at the price scale
for maximum clarity.
- Line length and label offset are fully customisable for your charting preference.
- Absolutely no repainting: Only confirmed swings are used for reliable signals.
- Parameter: "Swing Detection Length"
The “Swing Detection Length” parameter determines how many bars must appear to the left and right of a potential high or low for it to be recognised as a significant swing point.
- Higher values make the script less sensitive (only major turning points are detected).
- Lower values make it more responsive to minor fluctuations (more fibs, more signals).

For best results, adjust this setting according to your preferred timeframe and trading style.

Pro Tip:
Fibonacci levels refresh automatically whenever a new swing is confirmed.
Ideal for price action enthusiasts and Fibonacci purists alike.

Licence:
// Licence: CC BY-NC-SA 4.0 – Non-commercial use only, attribution required.
// © ChartWhizzperer