Auto Fibonacci Clusters

AutoFibo Clusters

If you tried to use Fibonacci levels probably you did find disadvantages due to large number of Fibonacci levels.

AutoFibo Cluster is a set of indicators, which is able to find fibonacci clusters on the chart based on automatic Fibonacci expansion, extensions and retracements.

The Auto Fibonacci Clusters indicator was created to help to identify important support and resistance points based on retracements, extensions and expansions of main swings.

The indicator is on the FT4, FTGT4, FT SRV version r110 or later.

This indicator will process swings on different Fibonacci proportions and different time frames finding where retracements, expansions and extensions create clusters, then will display the 9 most valid clusters.

You will have 3 indicators:
- AutoFibo Short Swing, this is calculated based on small swings, 2 consecutive higher highs or lower lows will be enough to create a swing.
- AutoFibo Mid Swing, this is calculated based on medium swings, 4 or more consecutive higher highs or lower lows will be necessary to create a swing.
- AutoFibo Long Swing, this is calculated based on long swings, 6 or more consecutive higher highs or lower lows will be necessary to create a swing.

Base on the swings the program will then calculate a large quantity of retracements, expansions and extensions, with that done the indicator will find places where these lines are close enough and mark that as a possible cluster. Cluster will be then compared and the 9 most important ones will be displayed.

You can turn on the alarm and every time a bar closes crossing any of the support/resistance lines you will get the alarm.

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