Auto Fib: Identifying the Golden Ratio
The Concept: Automatically plots Fibonacci levels (0.382, 0.5, 0.618, etc.) based on the most recent significant swing highs and swing lows.
Strategic Advantage: It highlights the “Golden Pocket” (0.618) where many institutional traders look for reversals.
The Survival Rule: Never trade a Fib level blindly. Always wait for a candlestick pattern (like a Pin Bar) to form at the level before entering.
Link: Auto Fib Standard