Lucrum Fibonacci Extensions
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The Lucrum Fibonacci Retracement indicator is a tool that calculates the respective Fibonacci retracement levels based on the peaks and valleys of a range bound indicator. The indicator has a variable parameter to set the sensitivity of the high and low ranges to adjust for various timeframes.
The location of the Fibonacci lines are not removed so the user can see their location for previous high/low ranges. The thick lines represent the last Fibonacci line location for the defined range before a range with an opposite direction is formed.
This tool is very helpful for visualizing points of resistance or support based on the technique of using Fibonacci retracements levels.