fibCircles

Draws Fibonacci Circles: a set of expanding circles based on two anchors. They help you spot curved zones where price might react, combining distance (radius) with Fibonacci proportions. Think of them as circular retracements around your chosen base.

Syntax

fibCircles(originPoint, targetPoint, styles?)

Parameters

• originPoint (PricedData) · The center of the circles (time & price). Example: newPoint(time(80), closeC(80)).

• targetPoint (PricedData) · A point that sets the first radius; the tool scales further radii by Fibonacci ratios. Example: newPoint(time(40), high(40)).

• styles (FibCirclesLineToolOverrides) · Control visuals and levels. Options include:

  • coeffsAsPercents (boolean) · Show coefficients as percentages.

  • fillBackground (boolean) · Fill areas between circles.

  • transparency (number) · Background transparency (0–100).

  • trendline (LinesLevels without coeff) · Style for the base line (e.g., linestyle, linewidth, color).

  • level1 … level11 (LinesLevels) · Per-circle visibility and look (coeff, visible, color, linestyle, linewidth).

  • showCoeffs (boolean) · Display the Fibonacci values on circles.

Return Value

• (string) The drawing ID of the created Fibonacci Circles.

Example

Goal: Every 36 candles, plot Fib Circles from an older pivot to a more recent point, with soft background and labeled levels.

//@version=1
init = () => {
  indicator({ onMainPanel: true, format: 'inherit' });
};

onTick = () => {
  // Keep things tidy: draw occasionally
  if (index % 36 === 0) { // ← change 36 for more/less frequency
    // 1) Choose two anchors (center & first radius)
    const origin = newPoint(time(20), closeC(20)); // circle center
    const target = newPoint(time(10), high(10));   // sets initial radius

    // 2) Define style once
    const style = {
      fillBackground: true,
      transparency: 85,
      showCoeffs: true,
      trendline: { linestyle: 2, linewidth: 1 }, // dashed base
      // enable a few classic Fibonacci radii
      level1: { visible: true, color: color.blue,   linestyle: 0, linewidth: 1 },   // ~0.382
      level2: { visible: true, color: color.green,  linestyle: 0, linewidth: 1 },   // ~0.5
      level3: { visible: true, color: color.gray, linestyle: 0, linewidth: 1 },   // ~0.618
      level4: { visible: true, color: color.red,    linestyle: 0, linewidth: 1 }    // 1.0
    };

    // 3) Build the circles
    fibCircles(origin, target, style);
  }
};

Result

Tips

• Use a meaningful pivot for originPoint (swing high/low) so the circular zones align with real structure.

• If the chart looks crowded, hide extra levels by setting { visible: false } on level*.

• Combine circles with a trend filter (e.g., a moving average) to focus only when the market is directional.

Warning

Don’t pick anchors only a couple of bars apart—the radii will be tiny and circles will overlap heavily. Ensure reasonable spacing between originPoint and targetPoint.

Good Practice

• Keep a reusable const style and adjust colors/visibility across tests for consistent results.

• Look for confluence: when a circle edge coincides with support/resistance or another Fib tool (retracement/channel), the level is more meaningful.