ERAK FIBONACCI

🔥 Key Features
• ⚡ Automated Swing Detection: Dynamically finds the true market structure (Swing High/Low) and adjusts the Fibonacci direction automatically for Uptrends or Downtrends.
• 🏦 Institutional Levels: Labels are not just numbers; they define the market sentiment:
• 0.500 (Equilibrium): The balance point between Premium and Discount pricing.
• 0.618 (Golden Ratio): The classic institutional entry zone.
• 0.786 (OTE - Deep Discount): The Optimal Trade Entry zone. This is the high-reward/low-risk area often used by smart money for entries.
• 🎨 Dynamic Zone Filling: Automatically highlights the "Buy/Sell Zone" (between 0.618 and 0.786) with a subtle background fill, allowing you to spot opportunities at a glance.
• 🎯 Extension Targets: Automatically projects the 1.618 extension level for take-profit targeting.
• clean & Professional UI: Labels are positioned directly on top of the lines in high-contrast black text for maximum readability, ensuring your chart remains clean and professional.
🚀 How to Use
1. Trend Identification: The script automatically draws the range from the Swing High to the Swing Low (or vice versa).
2. Wait for the Retracement: Watch for price action to return to the Golden Ratio (0.618) or the OTE (0.786) levels.
3. Equilibrium Rule: In a bullish trend, look for buy setups below the 0.5 (Equilibrium) level (Discount Zone). In a bearish trend, look for sell setups above the 0.5 level (Premium Zone).
4. Target: Use the 1.618 Extension as a primary Take Profit (TP) level.
Configuration:
• Lookback Period: Adjust the depth of the swing analysis (Default: 300 bars).
• Visuals: Fully customizable colors for Uptrend and Downtrend themes.