fibonacci TradingView indicator: automatic session fibs
every trader knows about fibonacci levels. they're one of the most popular tools in technical analysis.
but here's the problem: traditional fib tools require you to manually select swing highs and swing lows. you pick the points, draw the fib, and hope you chose correctly.
two traders can look at the same chart and draw completely different fibs. both think they're right. neither has any way to verify.
the fibonacci TradingView indicator eliminates this subjectivity entirely.
it automatically plots fib levels based on previous session's range—no manual drawing required. the levels update every session, and every trader using this indicator sees the exact same levels on the exact same chart.
even better: it connects to edgeful's fib levels report, which shows you the probability of price touching each fib level based on where it opens. you're not guessing which levels matter—you're seeing actual historical data.
in this article, you'll learn what the fibonacci TradingView indicator is, how it differs from manual fib tools, how to use it with probability data, and how to combine it with other indicators for maximum confluence.
table of contents
- what is the fibonacci TradingView indicator?
- how the fibonacci TradingView indicator works on TradingView
- using the fib levels report with the indicator
- fibonacci TradingView indicator vs manual fib tools
- customizing the fibonacci TradingView indicator
- combining fibs with other indicators
- does the fibonacci TradingView indicator work for stocks?
- frequently asked questions
- key takeaways
what is the fibonacci TradingView indicator?
the fibonacci TradingView indicator is a tool that automatically plots Fibonacci retracement levels on your chart based on previous session's high and low.
here's what it plots:
standard fib levels: 0, 0.236, 0.382, 0.5, 0.618, 0.786, 1
based on session range: uses previous session's high as one anchor and previous session's low as the other anchor
session-specific: NY session fibs use NY session range, London fibs use London range, etc.
updates automatically: new levels calculate at the start of each session without any manual work
the problem with manual fibs
traditional fibonacci tools require you to:
- identify the swing high you think matters
- identify the swing low you think matters
- draw the fib tool between those two points
- hope you chose the correct anchor points
the problem is obvious: "the swing high you think matters" is subjective.
one trader picks the high from two days ago. another picks the high from this morning. a third picks the high from last week. all three draw different fib levels on the same chart—and all three believe their levels are correct.
there's no way to verify who's right. and when you're trading based on levels that might be wrong, you're adding unnecessary uncertainty to every trade.
how the fibonacci TradingView indicator solves this
the fibonacci TradingView indicator removes all subjectivity by using objective anchor points:
- top of fib range: previous session's high
- bottom of fib range: previous session's low
that's it. no interpretation required.
every trader using this indicator on the same ticker, same session, sees the exact same fib levels. there's no debate about whether the 0.618 is at 5,842 or 5,867—it's calculated automatically from the session range.
this consistency is what makes the fibonacci TradingView indicator so powerful for building trading strategies around fib levels.
how the fibonacci TradingView indicator works on TradingView
the fibonacci TradingView indicator updates automatically at the start of each new session.
automatic plotting based on session range
when a new session begins, the indicator:
- identifies previous session's high
- identifies previous session's low
- calculates all fib levels between those two points
- plots the levels on your chart with price labels
you don't do anything. open your chart, and the levels are already there.
session-specific calculations
select your trading session and the fibonacci TradingView indicator uses that session's range for calculations:
- NY session selected: fibs based on previous NY session high/low (9:30am-4:00pm ET)
- London session selected: fibs based on previous London session high/low (3:00am-8:00am ET)
- Tokyo session selected: fibs based on previous Tokyo session high/low
if you switch from NY to London, all the fib levels recalculate based on the London session range. the levels will be different because London's high and low are different from NY's high and low.
this session-specific approach ensures your fib levels match your actual trading hours.
levels flip based on session color
the fibonacci TradingView indicator adjusts based on whether the previous session was bullish or bearish:
- if previous session was red (closed lower than it opened): 0 at the bottom, 1 at the top
- if previous session was green (closed higher than it opened): 0 at the top, 1 at the bottom
this ensures the fib levels align with the direction of the previous session's move. retracements are measured from the correct starting point.
the fib levels plotted
the fibonacci TradingView indicator plots these standard Fibonacci retracement levels:
- 0 — session extreme (high or low depending on color)
- 0.236 — shallow retracement
- 0.382 — common retracement level
- 0.5 — halfway point
- 0.618 — golden ratio, most watched fib level
- 0.786 — deep retracement
- 1 — opposite session extreme
all levels display with price labels so you can see exact prices without hovering or measuring.
using the fib levels report with the indicator
the fibonacci TradingView indicator shows you where the levels are. edgeful's fib levels report shows you the probabilities.
how the report works
the fib levels report answers one question: based on where price opens relative to yesterday's fib levels, how often will it touch each of the other levels?
example: if price opens between the 0.5 and 0.382 levels on YM, the report shows:
- probability of touching 0.236 during the session
- probability of touching 0 during the session
- probability of touching 0.618 during the session
- probability of touching 0.786 during the session
- probability of touching 1 during the session
each opening location shows different probabilities. opening near the 0.5 level gives you different touch rates than opening near the 0.786 level.
setting targets with probability data
instead of guessing "I think price will reach the 0.618," you can check the actual data.
if the report shows high probability of touching a specific fib level from your opening location, use that level as your profit target.
you're making decisions based on historical behavior, not hope.
taking reversals with probability data
the fib levels report is equally powerful for reversal trades.
if the report shows only 15% probability of price reaching the 0 level from current opening location, don't hold a trade expecting price to reach 0. take profits at higher-probability levels instead.
low-probability levels become areas to expect reversals rather than continuation.
check your specific opening location
this is critical: probabilities vary dramatically based on where price opens.
opening between 0.5 and 0.382 shows completely different probabilities than opening between 0.786 and 1.
always check the fib levels report for your specific opening location before setting targets or expecting reversals. the fibonacci TradingView indicator shows you the levels—the report tells you which ones matter most for today's opening location.
fibonacci TradingView indicator vs manual fib tools
both approaches have their place. here's when to use each.
manual fib tools
pros:
- flexible—you choose any swing points you want
- can draw fibs on any timeframe (daily, weekly, monthly)
- useful for multi-day or multi-week trend analysis
cons:
- subjective—different traders draw different fibs
- time-consuming—requires manual work every session
- no probability data—you're guessing which levels will hold
- easy to pick the "wrong" swing points and trade invalid levels
fibonacci TradingView indicator
pros:
- automatic—levels plot without any manual work
- objective—every trader sees the exact same levels
- session-specific—matches your actual trading hours
- connects to probability data via edgeful's fib levels report
- updates daily—always shows relevant, current levels
cons:
- only plots fibs on previous session's range
- can't draw custom fibs on weekly or monthly swings
- not ideal for multi-day trend analysis
when to use each
use the fibonacci TradingView indicator for:
- daily session-based fib levels
- consistent, objective levels that match other traders
- probability-backed targets and reversals
- intraday trading where yesterday's range matters
use manual fib tools for:
- weekly or monthly swing analysis
- custom ranges that don't match session structure
- multi-day trend retracements
- swing trading over multiple sessions
for most intraday and daily traders, the fibonacci TradingView indicator provides everything you need without the subjectivity and inconsistency of manual tools.
customizing the fibonacci TradingView indicator
the fibonacci TradingView indicator offers several customization options.
select your session
choose from NY, London, Tokyo, Sydney sessions.
the indicator recalculates all fib levels based on your selected session's previous range. switching sessions shows you completely different levels because each session has its own high and low.
change line colors
customize colors for each fib level:
- 0 level
- 0.236 level
- 0.382 level
- 0.5 level
- 0.618 level
- 0.786 level
- 1 level
consider making key levels (0.5, 0.618) stand out with brighter or thicker colors since these are the most commonly watched fib levels.
adjust line styles
change line width and style (solid, dashed, dotted) for visual clarity.
a common approach: make 0 and 1 levels solid (since they're the session extremes), and make interior levels dashed to differentiate them.
toggle specific levels
if you only trade certain fib levels, hide the others to reduce chart clutter.
some traders only care about 0.382, 0.5, and 0.618. hiding 0.236 and 0.786 keeps the chart cleaner while showing the levels that matter to your strategy.
show/hide price labels
toggle price labels on each fib level. labels help you see exact prices without hovering over the lines.
combining fibs with other indicators
the fibonacci TradingView indicator works best when combined with other edgeful tools for confluence.
fibs + previous day's range
when a fib level aligns with previous day's high or low, you have stronger support or resistance.
example: the 0.618 fib level sits at 5,842. previous day's high is at 5,845. that 3-point zone becomes a significant resistance cluster—two independent methods pointing to the same area.
fibs + gap fill
if price gaps up and opens above the 0.786 fib level, check the gap fill report for confluence.
the gap fill target might align with a key fib level like the 0.5 or 0.618. when gap fill and fib retracement point to the same price, that's a higher-probability target.
fibs + initial balance
IB high and low often align with fib levels.
if IB high forms right at the 0.618 fib level, that's stronger resistance than either level alone. the fibonacci TradingView indicator shows you the fib, and the IB indicator shows you the session structure—when they align, pay attention.
fibs + FVGs
fair value gaps that form at fib levels create high-probability reversal zones.
bullish FVG forming at the 0.382 retracement level = potential support confluence. the FVG shows demand imbalance, and the fib level shows a common retracement zone. together, they create a stronger case for a bounce.
fibs + pivot points
when pivot point levels align with fib levels, you have multiple calculation methods pointing to the same price.
S1 at 5,830 and 0.5 fib at 5,828 creates a 2-point support zone with two independent sources of significance.
the more confluence, the better
single fib level = moderate significance
fib level + previous day's range = stronger significance
fib level + previous day's range + FVG = high significance
use the fibonacci TradingView indicator as one layer of your analysis. when fib levels align with other indicators, those become your highest-priority levels for entries, exits, and reversals.
does the fibonacci TradingView indicator work for stocks?
yes, the fibonacci TradingView indicator works on stocks, futures, forex, and crypto.
for stocks
since stocks only trade 9:30am-4:00pm ET, session selection is straightforward—you're using regular trading hours.
important: don't include extended hours data. the fibonacci TradingView indicator should use regular trading hours high/low only, which matches what edgeful's fib levels report measures.
for futures, forex, crypto
session selection matters more because these markets trade 24 hours.
NY session fibs will be different from London session fibs because each session has its own high and low. select the session that matches your actual trading hours.
works on any ticker
the fibonacci TradingView indicator works on any instrument—ES, NQ, YM, AAPL, TSLA, EUR/USD, Bitcoin, you name it.
just make sure your session selection matches your trading hours, and you'll have consistent, objective fib levels every session.
frequently asked questions
what is the fibonacci TradingView indicator?
the fibonacci TradingView indicator automatically plots fib retracement levels based on previous session's high and low. unlike manual fib tools that require you to select swing points, this indicator calculates levels automatically and updates every session—giving you objective, consistent fib levels without any manual work.
how do I add the fibonacci TradingView indicator?
log into edgeful, connect your TradingView account, and look for "Fibonacci by Sessions" in your invite-only indicators. select your session (NY, London, Tokyo) and the indicator plots fib levels automatically based on previous session's range.
why is automatic fib plotting better than manual?
manual fib tools are subjective—two traders can draw completely different fibs on the same chart and both believe they're correct. the fibonacci TradingView indicator removes this subjectivity by using previous session's high and low as anchor points. every trader sees the same levels, and you can verify touch probabilities using edgeful's fib levels report.
what fib levels does the indicator plot?
the fibonacci TradingView indicator plots standard retracement levels: 0, 0.236, 0.382, 0.5, 0.618, 0.786, and 1. these are calculated from previous session's high to low (or low to high depending on whether the session was green or red).
can I use this indicator for swing trading?
the fibonacci TradingView indicator is designed for session-based analysis (daily fib levels). for multi-day swing trading on weekly or monthly ranges, you might want to combine it with manual fib tools. for intraday and daily timeframes, the automatic session-based fibs are ideal and save significant time.
key takeaways
- the fibonacci TradingView indicator automatically plots fib levels based on previous session range
- no manual drawing required—levels update every session automatically
- eliminates subjectivity: every trader sees the exact same fib levels on the same chart
- session-specific: NY session fibs use NY range, London uses London range, Tokyo uses Tokyo range
- standard levels plotted: 0, 0.236, 0.382, 0.5, 0.618, 0.786, 1
- levels flip based on previous session color (green vs red) to align with move direction
- works with edgeful's fib levels report to show touch probabilities based on opening location
- use the report to see how often price touches each level from your specific opening location
- set profit targets at high-probability fib levels
- expect reversals when probability of reaching a level is low
- combine with previous day's range, gap fill, FVGs, pivot points, and IB for confluence
- more confluence = higher-probability levels
- works on stocks, futures, forex, crypto—any ticker
- for stocks, use regular trading hours only (no extended hours)
- much more consistent and time-saving than manual fib tools for daily session analysis
p.s. want access to the fibonacci TradingView indicator and 35+ other TradingView indicators? get started with edgeful here
