What it does

Automatic Fibonacci Levels holds the common retracement prices from the recent high-low swing directly on the chart. It is built for traders who want fast pullback context, not a hand-drawn swing workflow every session.

Who this is for

This page is aimed at traders who already know what problem Automatic Fibonacci Levels is solving and want clearer notes on setup, tradeoffs, and platform coverage.

Key terms for this tool

Review the core trading and platform terms tied to this page before changing settings or using the study in a live workspace.

Fibonacci RetracementSwing HighSwing LowPullbackMarket Structure

What it is not

Automatic Fibonacci Levels is a chart-context tool. It does not place trades, manage risk automatically, or promise that a specific pattern will resolve in one direction. Use it to organize decisions, not to outsource them.

Chart examples

This chart capture shows the study on a real NinjaTrader workspace. Use it as visual reference, then confirm behavior on your own instrument, session, and timeframe.

Automatic Fibonacci Levels overlaying a futures chart with recent retracement lines drawn across the active swing range.

Retracement levels on a live chart

A chart showing the recent swing range with automatic Fibonacci retracement levels held on screen for pullback reference.

Best fit

  • Finding simple pullback reference zones during a trending session.
  • Keeping recent high-to-low or low-to-high retracement levels visible.
  • Building a repeatable retracement workflow without manual drawing.

Before using it live

  • Import the NinjaTrader 8 ZIP through NinjaTrader's normal import flow.
  • Apply it to a chart with enough historical bars for swing detection.
  • Tune the lookback before using the levels in live decisions.
  • Review how the tool behaves on your actual session template, chart type, and instrument.

Settings to review

Lookback

Controls how many bars are scanned for the recent high and low.

Show labels

Toggles the 23.6%, 38.2%, 50%, 61.8%, and 78.6% labels.

Line width

Controls the thickness of the reference levels.

Installation notes

  1. Import the NinjaTrader 8 ZIP through NinjaTrader's normal import flow.
  2. Apply it to a chart with enough historical bars for swing detection.
  3. Tune the lookback before using the levels in live decisions.

Downloads

FreeIndicators Automatic Fibonacci Levels for NinjaTrader 8 NinjaTrader 8
Download

Source code

These source examples are provided for copy/paste workflows on other charting platforms. Review and test any script in a simulator before using it on a live chart.

TradeStation EasyLanguage MultiCharts PowerLanguage MetaTrader 4 MetaTrader 5 TradingView Pine Script
TradeStation EasyLanguage / MultiCharts PowerLanguage AutomaticFibonacciLevels.eld.txt 
{
  Automatic Fibonacci Levels
  FreeIndicators.com source example.
  Works as a starting point for TradeStation EasyLanguage and MultiCharts PowerLanguage.
}

Inputs: Lookback(80);
Vars: SwingHigh(0), SwingLow(0), RangeValue(0);

SwingHigh = Highest(High, Lookback);
SwingLow = Lowest(Low, Lookback);
RangeValue = SwingHigh - SwingLow;

Plot1(SwingLow + RangeValue * 0.236, "23.6");
Plot2(SwingLow + RangeValue * 0.382, "38.2");
Plot3(SwingLow + RangeValue * 0.500, "50.0");
Plot4(SwingLow + RangeValue * 0.618, "61.8");
Plot5(SwingLow + RangeValue * 0.786, "78.6");
MetaTrader 4 MQL4 AutomaticFibonacciLevels.mq4 
// Automatic Fibonacci Levels
// FreeIndicators.com source example for MetaTrader 4.
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 DodgerBlue
#property indicator_color2 Crimson
#property indicator_color3 SeaGreen

double Buffer1[];
double Buffer2[];
double Buffer3[];

int init() {
   SetIndexBuffer(0, Buffer1);
   SetIndexBuffer(1, Buffer2);
   SetIndexBuffer(2, Buffer3);
   return(0);
}

int start() {
   int counted = IndicatorCounted();
   int limit = Bars - counted - 1;
   int lookback = 80;
   for(int i = limit; i >= 0; i--) {
      int hi = iHighest(NULL, 0, MODE_HIGH, lookback, i);
      int lo = iLowest(NULL, 0, MODE_LOW, lookback, i);
      double range = High[hi] - Low[lo];
      Buffer1[i] = Low[lo] + range * 0.382;
      Buffer2[i] = Low[lo] + range * 0.500;
      Buffer3[i] = Low[lo] + range * 0.618;
   }
   return(0);
}
MetaTrader 5 MQL5 AutomaticFibonacciLevels.mq5 
// Automatic Fibonacci Levels
// FreeIndicators.com source example for MetaTrader 5.
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_plots 3

double Buffer1[];
double Buffer2[];
double Buffer3[];

int OnInit() {
   SetIndexBuffer(0, Buffer1, INDICATOR_DATA);
   SetIndexBuffer(1, Buffer2, INDICATOR_DATA);
   SetIndexBuffer(2, Buffer3, INDICATOR_DATA);
   return(INIT_SUCCEEDED);
}

int OnCalculate(const int rates_total,
                const int prev_calculated,
                const datetime &time[],
                const double &open[],
                const double &high[],
                const double &low[],
                const double &close[],
                const long &tick_volume[],
                const long &volume[],
                const int &spread[]) {
   int start = prev_calculated > 1 ? prev_calculated - 1 : 1;
   int lookback = 80;
   for(int i = start; i < rates_total; i++) {
      double swingHigh = high[i];
      double swingLow = low[i];
      for(int j = 1; j < lookback && i - j >= 0; j++) {
         swingHigh = MathMax(swingHigh, high[i - j]);
         swingLow = MathMin(swingLow, low[i - j]);
      }
      double range = swingHigh - swingLow;
      Buffer1[i] = swingLow + range * 0.382;
      Buffer2[i] = swingLow + range * 0.500;
      Buffer3[i] = swingLow + range * 0.618;
   }
   return(rates_total);
}
TradingView Pine Script v5 AutomaticFibonacciLevels.pine 
//@version=5
indicator("Automatic Fibonacci Levels", overlay=true)

lookback = input.int(80, "Lookback", minval=10)
swingHigh = ta.highest(high, lookback)
swingLow = ta.lowest(low, lookback)
r = swingHigh - swingLow
plot(swingLow + r * 0.236, "23.6%", color=color.gray)
plot(swingLow + r * 0.382, "38.2%", color=color.blue)
plot(swingLow + r * 0.500, "50.0%", color=color.orange)
plot(swingLow + r * 0.618, "61.8%", color=color.green)
plot(swingLow + r * 0.786, "78.6%", color=color.purple)

After the download

Keep the next step tied to this exact tool

Install it cleanly, subscribe for future updates if this workflow matters, or move straight into a structured request if the tool needs another platform or a custom version.

Limitations

  • Levels update as the lookback high or low changes.
  • Retracement levels are context, not guarantees.
  • A fixed lookback may not match every market condition.

Frequently asked questions

Does it repaint?

This tool can revise its most recent labels or levels until enough bars have formed to confirm the swing or range it is using. Older confirmed values should be more stable than the most recent developing ones.

Which platforms are covered?

NinjaTrader 8, TradeStation EasyLanguage, MultiCharts PowerLanguage, MetaTrader 4, MetaTrader 5, TradingView Pine Script are currently represented through downloads or source pages.

Is source code included?

Yes. This page includes source examples or links to platform-specific source pages where applicable.