Script is based on weekly time Frame. Fib ratios are drawn at the Open of the Market. Open price is compared with Previous week High , low and close. If weekly open is above Previous week high or low, Fib 0 % is plotted above High or the low as the case may be . If weekly open is between previous week high and low Fib 0% is equal to previous week Close and other fib ratios are plotted accordingly. As its vol based, works fantastically. This script is inspired by Fibonacci and Volatility script by PB GHOSH.
Hi Thanks much, can you kindly write the logic for Monthly level?
adamnoah
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Thank you very much for your effort. Very precise. It would be great if the monthly version would also be available with the next update and the option to change color and line thickness.