What it does
Automatically identifies the most recent significant swing high and swing low using a pivot detection lookback and draws Fibonacci retracement (and often extension) levels between them, updating as new swings confirm. The standard ratios — 23.6, 38.2, 50, 61.8 and 78.6 percent — mark zones where pullbacks within a trend commonly stall and reverse. It removes the manual and somewhat arbitrary step of choosing swing points by hand.
Typedraws on the price chart
How to add it
Click Indicators (ƒx) in the header.
Search “Dext AutoFib” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- In an uptrend, watch the 38.2-61.8 percent retracement zone of the last upswing for pullback-buy setups, with the 50 and 61.8 levels the most-watched.
- A retracement holding shallow (23.6-38.2 percent) signals a strong trend; a deep cut through 78.6 percent warns the swing may fully reverse.
- Require a reversal trigger at the level — a rejection candle, momentum turn or volume response — instead of buying a level blind.
- Use extension levels (127.2, 161.8 percent) as profit targets once the retracement holds and the trend resumes.
- Give extra weight to fib levels that coincide with prior structure, moving averages or pivots.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Length | number | 265 | 10–1000 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| 100% | line | #FFEB3B |
| 76.4% | line | #FF9800 |
| 61.8% | line | #FF5722 |
| 50% | line | #E91E63 |
| 38.2% | line | #9C27B0 |
| 23.6% | line | #3F51B5 |
| 0% | line | #4CAF50 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision, price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Save the configured chart as a study template (Indicators menu) to reapply this exact setup elsewhere.
- Right-click the indicator's line for quick actions — settings, visibility and removal without hunting through menus.
- Use Add to favorites in the legend menu; starred studies surface at the top of the picker.
Watch out for
- The auto-selected swing points depend on the pivot sensitivity setting and can differ from the swings a human would deem significant, changing every level.
- Fibonacci levels have no intrinsic force; they work partly through self-fulfilling attention, and price slices through them routinely in strong moves.