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PnF Fibonacci Levels with Alerts

My Pine Script indicator, "PnF Fibonacci Levels with Alerts," overlays on a trading chart to generate alerts based on Fibonacci levels in Point and Figure (PnF) charts.

Key Features:
Inputs and Initialization:
It uses a customizable Fibonacci level (set at 0.236) and initializes variables for tracking the high and low of O and X columns.

O Column Logic:
When the current column is identified as an O column (when the close is less than the open), it calculates the Fibonacci level based on the high and low of that column, drawing a line on the chart.

Buy Alert:
If the closing price of the previous bar is above the Fibonacci level of the O column, a buy alert is triggered.

X Column Logic:
If the current column is an X column and the close is above the previous O column's low, it captures the current high and low, calculates the Fibonacci level, and draws it on the chart.

Sell Alert:
A sell alert is triggered if the closing price of the X column is at or below the specified Fibonacci level.

This indicator aids traders by highlighting critical Fibonacci levels and providing timely alerts for potential buy and sell opportunities.
Chart patternsPine utilitiesTrend Analysis

開源腳本

在真正的TradingView精神中,這個腳本的作者以開源的方式發佈,這樣交易員可以理解和驗證它。請向作者致敬!您可以免費使用它,但在出版物中再次使用這段程式碼將受到網站規則的約束。 您可以收藏它以在圖表上使用。

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