A simple script to place horizontal lines where fib levels are, over a given period of candles, on a specified or charted time-frame. Includes the option to fib-retrace a "sub-zone" or the space between Fibonacci levels.
In The Depicted Example Above: - Large white Fibonacci Lines from 377 Daily Candle Range, Gray "Sub-Fib" levels are plotted in "Zone 4" of the 377 1D Fib. Re-trace. (Zone 4 is between the 0.5 and 0.618, Zone 3 is between 0.618 and 0.786, etc.) - Optional 1.618 Fib Extension is available for the main Fibonacci indicator, but is not shown here (Disabled/Hidden). - Supports multiple time-frames, which is also depicted above. (377 Daily Candles used on 12-Hour chart.)
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Update: - The script now paints a fill where certain levels are/were (0.5-0.51, 0.618-65), giving a nice visualization of the trend and range. - Calculates a prediction of the future of these levels, optionally.