The A.I fibonacci is a tool designed to assist traders in identifying potential price levels following a retracement. Unlike many other Fibonacci indicators available, this script is tailored to highlight the most crucial levels for entries, take profits, and stop losses.
Key Features:
Automatic Calculation: The script automatically calculates and plots Fibonacci extension levels based on the price movement and the highs and the lows on the chart. Optimal Levels: It emphasizes the most relevant levels for making informed trading decisions, ensuring traders focus on what specific levels. Versatility: Suitable for all markets, making it a versatile tool for traders across different asset classes. User-Friendly: Designed with both novice and experienced traders in mind, the script is easy to use and interpret. How It Stands Out: While there are numerous Fibonacci tools available, the A.I Fibonacci is distinct in its approach. It not only calculates potential price reversal areas but also pinpoints possible price levels after a retracement is completed. This dual functionality ensures traders have a comprehensive view of the market.
How to Use:
Apply the script to your desired chart. Observe the plotted Fibonacci levels. Use these levels to determine potential entry, exit, and stop-loss points. Green - Entry levels Red - Stop Loss Levels Yellow - Take Profit Levels
Applicability: A.I Fibonacci is designed for all markets, making it a versatile tool for forex, stocks, commodities, and more.
Conditions for Use: The script performs optimally under various market conditions. However, as with all technical tools, it's recommended to use it in conjunction with other indicators and analysis methods for best results.
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