In the arsenal of technical analysis, trend-following indicators like Moving Averages (MA) and MACD get all the glory. They tell you when to buy and sell. But they have a fatal flaw: they cannot tell you when to .
// Calculate swing high/low swingHigh = ta.highest(high, length) swingLow = ta.lowest(low, length) fibPrice = swingLow + (swingHigh - swingLow) * fibLevel fmcbr indicator
FMCBR indicator (often referred to as the FMCBR Trading System In the arsenal of technical analysis
Triggers alerts when price breaks specific candlestick zones and reaches key Fibonacci levels. length) swingLow = ta.lowest(low