This is a simple indicator which plot high and lows based on Fibonacci sequence. Best part of this indicator is it don't rewrite itself once it got plotted on the chart, which make it unique from other High low indicators.
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added comments
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Added instructions For batter understanding.
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Color has been changed and a new calculation method is added. There is no need to change the inputs now current inputs work best with all timeframes.
NOTE: This is not a magic indicator. Don't think this will make you money single-handedly. You can use it to enhance your strategy or use mine (elaborated above) to catch a good trade.
Have a look at this, a perfect example of a Sniper Entry. Enable desktop site mode if you are a mobile user.
Copy this link: "tradingview.com/chart/EURNZD/vmnbqAa9-EUR-NZD-Entry-using-Fib-HL/"
Good indicator, but too bad it doesn't work right away. The blue dot will show up after 10m when the market is already down.
a_guy_from_wall_street
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@Ugo69, it's not the case I have used it, and it has generated a lot of sniper entries for me. If you have any doubts you can check the "idea" section of my profile I have posted a trade idea there which generated 2 sniper entries and both got hit.
a_guy_from_wall_street
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@Ugo69, play with settings, and find out what works best for you. I recommend not to use higher values in your settings. Anyways I am also working on the next update, I'll make some changes to this issue too. thanks for your valuable feedback.
a_guy_from_wall_street
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@Ugo69, as it is an indicator that is made to trade trend continuation so you have to test it taking that into consideration to get some good results.
Ugo69
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@hiimannshu, Thank you for answer. keep up the good work.