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New indicator - Dynamic Fibonacci levels.
As you already know, support and resistance levels - this is one of the most important tools in the arsenal of any trader.
In the XIII century, Leonardo Fibonacci, a famous Italian mathematician, discovered a simple sequence of numbers 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144.
No trend can’t last forever and sooner or later the correction came.
Fibonacci levels allow a trader to identify possible targets of correction, as well as strong support and resistance levels.
We emphasize that the key levels are 38.2%, 50% and 61.8% Fibonacci retracement levels. These levels have the greatest resistance and support for changing course.
Using Fibonacci levels trader can be define not only possible purpose of correction, but also potential targets in case of continuation of a trend - this is 161.8%, 261.8% and 423.6% Fibonacci retracement levels.
Using Dynamic fibonacci indicator, the trader can determine:
* - A possible target correction
* - A possible goals of continuation pattern
* - Strong levels of support
* - Strong resistance levels.
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