Fib Retracement Neo [GF4M]🔹 Fib Retracement Neo
This indicator is based on the built-in auto FBR logic. A guide meter has been added to the right of the live candle so that traders can easily understand the current structure in real time.
🔸 Core Mechanics & Features
Dynamic Structural Pivot Detection (from TV's built-in Auto Fib retracement): The script continuously monitors market structure to identify significant swing highs and swing lows based on mathematical volatility thresholds. Unlike standard static tools, it anchors the Fibonacci grid to the most relevant macro/micro trendlines based on user-defined inputs.
🔸 Real-Time Dynamic Guide Meter (Live Position Mapping)
To maximize executive visibility, the 'Live Guide Meter' rendered on the right side of the live candle. Continuously visualizes the current price’s location within the active Fibonacci grid. Auto-Adaptive Range Expansion: If price actions break regular Fibonacci boundaries, the extended range levels are calculated and projected automatically relative to the price vector.
🔹 Input Parameter Guide (Configuration)
How Far: Controls the price deviation coefficient required to invalidate a prior structural pivot. A higher value isolates macro trends, while a lower value maps micro-scalping structures.
Wave Size: Defines the minimum bar count required to establish a valid swing high or swing low. It prevents noise from micro-consolidations.
Fib Ratio Enable on/off
Retracement Meter on/off
Ruler Position (X-axis Offset) on/off
Indicator
