dsFibConfluence is a NinjaTrader indicator which draws
Fibonacci extensions from various high and low pivot points. The random lines
create what is commonly known as the fib cluster or the fib confluence points.
The Fibonacci confluences acts as a good support/resistance points.
dsFibConfluence uses the Zigzag function to detect the pivot points, and uses
the pivots to draws
three fib extention levels. One at 161.8%, the other at 261.8% and the last at
423.6% of the swing.
Three deviations are taken into consideration while drawing the pivot swings.
All three can be customized from the parameter dialog box. It is a open code
indicator so you can futher twick it if you like to do so. |