OPEN-SOURCE SCRIPT
Updated Essa - Enhanced Fibonacci Confluence Toolkit
A precision-engineered trading tool designed to identify high-probability reversal zones using price action alone. This version expands on traditional Fibonacci confluence techniques by integrating a multi-tiered market structure framework and advanced state management.
Key Features:
Originally inspired by the LuxAlgo Fibonacci Confluence Toolkit (v5). Credit to LuxAlgo for the foundational concept.
Key Features:
- Fully automated CHoCH (Change of Character) detection
- Tiered market structure logic (Short, Intermediate, Long-Term)
- Dynamic Area of Interest (AOI) zone rendering
- Automatic Fibonacci retracement plotting from swing highs/lows
- Customisable Fibonacci levels (0% to 100%, including 23.6%, 61.8%, 65%, 78.6%)
- Real-time Fibonacci invalidation logic with on-chart alerts
- Bullish and bearish engulfing candle detection with structure-based filtering
- Configurable swing labels (◉, △▽, H/L) with size control
- Adjustable CHoCH line styles and widths
- Optional display of Fibonacci level labels
- Modular and efficient codebase with object-oriented architecture
Originally inspired by the LuxAlgo Fibonacci Confluence Toolkit (v5). Credit to LuxAlgo for the foundational concept.
Release Notes
Overlay Bug FixedOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.