OPEN-SOURCE SCRIPT
RTF Fib Extensions
RTF Fib Extensions — Auto Swing Fibonacci Retracements & Extensions
Automatic fib tool that detects the most recent swing high/low over a configurable lookback and plots retracement and extension levels off it — no manual anchoring required.
How it works: the indicator scans the last N bars (default 100) for the swing high and low, then determines direction based on which one is more recent. If the low formed after the high, it reads the move as bullish and projects levels upward; if the high formed after the low, it reads bearish and projects downward. Levels update live on every bar unless locked.
Features:
Auto swing detection with adjustable lookback
Auto bullish/bearish direction labeling
Retracements: 0, 0.236, 0.382, 0.5, 0.618, 0.786, 1
Extensions: 1.618, 2.618
Lock/Freeze toggle to pin levels to the current swing instead of recalculating every bar
Adjustable label side (left/right), offset, and text size for both level labels and the direction badge
Full color customization per level
How to use it: drop it on any chart/timeframe. Increase the lookback for higher-timeframe swings, decrease it for scalping. Use Lock once you're happy with the detected swing so levels stop shifting as new bars form. Extensions (1.618, 2.618) are the key zones to watch for continuation targets in the direction of the labeled trend; retracements mark pullback zones for re-entry.
Automatic fib tool that detects the most recent swing high/low over a configurable lookback and plots retracement and extension levels off it — no manual anchoring required.
How it works: the indicator scans the last N bars (default 100) for the swing high and low, then determines direction based on which one is more recent. If the low formed after the high, it reads the move as bullish and projects levels upward; if the high formed after the low, it reads bearish and projects downward. Levels update live on every bar unless locked.
Features:
Auto swing detection with adjustable lookback
Auto bullish/bearish direction labeling
Retracements: 0, 0.236, 0.382, 0.5, 0.618, 0.786, 1
Extensions: 1.618, 2.618
Lock/Freeze toggle to pin levels to the current swing instead of recalculating every bar
Adjustable label side (left/right), offset, and text size for both level labels and the direction badge
Full color customization per level
How to use it: drop it on any chart/timeframe. Increase the lookback for higher-timeframe swings, decrease it for scalping. Use Lock once you're happy with the detected swing so levels stop shifting as new bars form. Extensions (1.618, 2.618) are the key zones to watch for continuation targets in the direction of the labeled trend; retracements mark pullback zones for re-entry.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.