Auto Fibonacci Retracement & Extension Tool with Dashboard

Description

This Auto Fibonacci Retracement & Extension Tool with Dashboard is a technical tool built in Pine Script that helps traders track key Fibonacci retracement and extension levels. It automatically detects the market trend—uptrend, downtrend, or neutral—and displays it with color-coded signals for easy interpretation.

It calculates retracement and extension levels from recent swing highs and lows, helping traders identify where price pullbacks or trend continuations are likely to occur. The retracement levels, like 0.236, 0.382, and 0.618, highlight areas where the price might temporarily correct, while extension levels, such as 1.272 and 1.618, point to zones of breakout or strong momentum.

The dashboard summarizes the current trend, the last Fibonacci level touched, and whether the structure is breaking or behaving normally. Traders can also set alerts on specific levels to be notified when price approaches or crosses them, ensuring timely action.

Additionally, the dashboard is customizable—you can adjust its position, choose which levels to display, and set thresholds for alerts. This makes it a flexible and user-friendly tool for analyzing trends and planning trades efficiently.

▶ Main Features

1. Trend Detection

   • Identifies whether the market is in an Uptrend, Downtrend, or Neutral based on price movements.

   • Highlights trends with color-coded signals:

     • ✅ Green → Uptrend

     • ❌ Red → Downtrend

     • ⚪ Gray → Neutral

2. Fibonacci Levels

   • Calculates both retracement and extension levels from swing highs and lows.

   • Helps identify where price corrections and continuations might occur.

3. Retracement Levels
   Shows key Fibonacci retracement ratios:

4. Extension Levels
   Shows key Fibonacci extension ratios

5. Dashboard Display

   • Summarizes trend, last met Fibonacci level, and overall market structure.

   • Provides details about whether the price is at a retracement or extension level and what it means.

   • Status field signals whether the structure is breaking, a breakout is occurring, or the market is behaving normally.

6. Alerts

   • You can set alerts on specific retracement and extension levels.

   • Alerts are triggered when the price crosses or approaches these levels within a tolerance threshold.

7. Customization

   • Dashboard position can be adjusted (top-right, top-left, bottom-right, bottom-left).

   • Volume threshold for triggering alerts is customizable.

   • Show/hide retracements and extensions.