DR + Fibonacci Zones — 🔵 Bullish Scenario -- 🔴 Bearish Scenario

Elliott + Fibonacci Zones — 🔵 Bullish Scenario & 🔴 Bearish Scenario

A visual tool that combines Elliott Waves and Fibonacci levels to help traders map out potential market scenarios.

✦ Features:

Manual plotting of Elliott Waves (1→5) using customizable highs and lows.

Display of classic Fibonacci retracements (0.236 – 0.382 – 0.5 – 0.618 – 0.786) with individual on/off controls.

Display of Fibonacci extensions (1.272 – 1.618) to project possible Wave (5) targets.

Full customization options:
• Line styles (Solid / Dashed / Dotted).
• Line extension (Left / Right / Both / None).
• Label background colors with adjustable transparency.
• Custom text color for labels.

Flexible inputs to adjust wave points according to your own market analysis.

✦ How to Use:

Set the wave levels (Wave 1–4) in the input panel.

Enable or disable Fibonacci levels as needed.

Watch the key retracement and extension areas:

🔵 Bullish scenario: Wave (5) continuation after breaking resistance.

🔴 Bearish scenario: Support failure and breakdown through critical retracement zones.

✦ Benefit:

This indicator provides a clear visual roadmap of critical support and resistance zones, combining Elliott Wave structure with Fibonacci confluence to anticipate potential reversals or price extensions.