Golden Ratio Trend Persistence PRO [EWT]

Golden Ratio Trend Persistence PRO [EWT] indicator provides a dynamic, self-adjusting Fibonacci retracement level based on the Golden Ratio (0.618), specifically designed to identify and track the persistence of major market trends. It is built on a core philosophy that a genuine trend will respect a key retracement level relative to its anchor point.

This is PRO version of the free GRTP Indicator

What's Extra in this PRO Version 🚀
This updated version introduces crucial tools for advanced analysis and execution:

1. Multi-Timeframe (MTF) Trend Table: A customizable table is displayed on the chart to provide an immediate summary of the indicator's trend direction across five key timeframes (1D, 4H, 1H, 15m, 5m), giving you instant insight into cross-market directional confluence.
   
2. Visual Range Plotting: The indicator now plots the Anchor Price (the initial pivot that established the trend) and the Extremity Price (the highest high or lowest low achieved since the trend began), visually defining the exact price range used for the Fibonacci calculation.
   
3. Trend Reversal Alerts: Dedicated alerts are included to notify you the moment the closing price crosses the dynamic Fibonacci level, signaling a potential trend reversal (Bullish → Bearish, or Bearish → Bullish).
   
4. Flexible Price Source: You can now choose whether the trend's extremity should be tracked using the High/Low (more sensitive) or the Close price (smoother).
   

How the Indicator Works
The Golden Ratio Trend Persistence (GRTP) indicator uses a non-repainting logic to define the trend:

Trend Establishment: The indicator uses the first confirmed Pivot High or Pivot Low (based on user-defined lookback periods) to establish a major trend direction:

First Pivot High → Downtrend

First Pivot Low → Uptrend


Re-Anchoring: Trend's starting 'Anchor Price' will move to new, stronger pivots (higher lows in an uptrend, lower highs in a downtrend). This makes the level more dynamic.

Dynamic Level Calculation: The indicator continuously tracks the Extremity Price (the new High in an uptrend, or new Low in a downtrend). The Dynamic Level is calculated using the Golden Ratio retracement (61.8%) by default, but can be configured to use other setting:

Uptrend: Support Level=Extremity Price−0.618×(Extremity Price−Anchor Price)

Downtrend: Resistance Level=Extremity Price+0.618×(Anchor Price−Extremity Price)


Trend Reversal: The trend state officially flips when the closing price crosses the Dynamic Level. This strict rule serves as an objective measure of trend invalidation and triggers the corresponding alert.