The KIRA Indicator is a unique tool designed to provide traders with actionable insights by identifying and analyzing key intraday price ranges. Built upon a specialized methodology, it uses Fibonacci-derived levels anchored to significant opening ranges to generate trading levels for the day. Unlike other indicators that focus on broader trend analysis, KIRA’s approach provides precision, simplicity, and adaptability for intraday traders.
How It Works
KIRA takes the first 30-second range of the European market open and calculates Fibonacci projections derived solely from the golden ratio. These projections form potential areas of interest, such as support and resistance levels, that guide traders in their decision-making process.
By visualizing these levels directly on the chart, KIRA simplifies intraday trading, helping traders identify key reaction zones with high clarity.
Key Features:
-Clean and Readable Output: Generates easily identifiable levels directly on a clear chart to reduce visual clutter.
-Dynamic and Adaptive: Works across various assets, including indices, forex, and commodities, while maintaining reliability on lower timeframes.
How to Use
1. Set Up: Ensure your chart timeframe is aligned with intraday trading, ideally 1-minute or 5-minute intervals.
2. Monitor Levels: Observe how price reacts to the projected levels generated from the opening range.
3. Strategize: Use these levels as potential entries, exits, or areas to tighten risk management, depending on price action.
Unlike conventional indicators that reuse public domain methodologies or classic technical analysis tools, KIRA is based on a nuanced approach to anchoring Fibonacci projections. Its uniqueness lies in its precise application of golden ratio derivatives, specifically tailored to intraday price movements.
The chart accompanying this script provides a clean visualization of the KIRA levels applied to a 1-minute chart of [NQ]. All outputs are directly from the KIRA script to ensure clarity and ease of use.