The indicator builds 5 Fibonacci retracements in accordance with the recommendations on the lifetime of the trend of V. V. Pershikov. All lifetime parameters are configurable. The plotting takes place only at the moment of joining to the chart, as well as at the moment of changing the scale. This is done to increase performance, if the indicator is rebuilt on each tick, everything will slow down due to the large number of calculations associated with checking the breakouts of the level 61.8. After building the retracements with the indicator, it is possible to change the construction manually. In order for the indicator not to bring down manual changes, it must be removed from the chart, and the retransmissions will not be deleted.

The indicator was developed in collaboration with V. V. Pershikov.

Trend parameters

• EndBarNumber = 1 — This parameter is used to determine the last candle to which we are building a retracement. By default, 1 is the penultimate candle on the chart (0 is the current one). The current candle is not finished yet, so if you set it to 0, you need to be ready for redrawing.

Trend break parameters-Configurable parameters for breaking the trend.

• TrendBreakEndLevel = 0.618 — The level that must be broken in order to be considered a” cancellation ” of the trend and for the breakdown of which the construction of retracements is checked. By default, it is set to V. Pershikov 61.8.
• TrendBreakCandlePercent = 100-The percentage of the candle body that must break through the set trend cancellation level for the cancellation to be fixed. Attention! According to V. V. Pershikov, this percentage = 66%. In the indicator, the default value is 100%. I.e., the entire body of the candle should be above/below the level.
• ShowAdditionalLevels = false-if True, it shows additional levels 76.4, 85.4, 91.

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Next are the settings for building retransmissions for each timeframe. I will describe only the settings of H1, the rest – by analogy.

• NameH1 = “PRH1” – The name of the Fibonacci Line object
• TrendMinBarsH1 = 10 – The minimum possible number of bars of TF H1 in the trend that the retracement is based on
• TrendMaxBarsH1 = 400 – The maximum number of bars of TF H1 for building a retracement
• TrendMinSizeH1 = 0 – The minimum number of pips in the trend (namely pips-not points, i.e. for EURUSD 1.10182 point – 4 sign (8), pips-5th (2)), if less, it will be considered that there is no trend.
• FiboColorH1 = Purple – The color of the retracement. Taken by default as in V. Pershikov
• FiboStyleH1 = 0 – Style of the redrawing lines (dashed, dashed)
• FiboWidthH1 = 1 – Thickness of the retracement lines
• BreakCheckStep = 1-A parameter that affects performance. The calculation of the trend breakdown is carried out not on each candle, but through the number of candles specified in the parameter. If there are no performance problems, leave it as default.

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