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Fibonacci Wave Bands Indicator The Fibonacci Wave Bands indicator utilizes Fibonacci ratios to create dynamic bands around a central moving average. These bands are derived from key Fibonacci ratios (typically 38.2%, 50%, 61.8%) and adapt to market volatility, offering insights into potential support and resistance zones. Key Features: Fibonacci Levels: The indicator plots multiple bands above and below a central moving average based on Fibonacci ratios. Dynamic Support and Resistance: Bands
Description: This indicator (with its algorithm) marks relative highs and lows, which have an array of useful applications. This indicator will never repaint. Features: Marks relative highs and lows Use this to determine points of trend continuation i.e. where the trend may pull back before continuing higher or lower, past this point Or use this to determine potential points of reversal, particularly in ranging markets, or with other price action These highs