fibSpeedResistFan

Draws a Fibonacci Speed Resistance Fan: a set of diagonal “fan” lines from one anchor to another, spaced by Fibonacci proportions. It’s handy to project dynamic support/resistance during trends and to spot pullback areas while price advances or declines.

Syntax

fibSpeedResistFan(fanOrigin, fanTarget, styles?)

Parameters

• fanOrigin (PricedData) · First anchor (time & price) where the fan starts. Example: newPoint(time(60), low(60)).

• fanTarget (PricedData) · Second anchor (time & price) that sets the fan’s spread. Example: newPoint(time(20), high(20)).

• styles (FibSpeedResistanceFanLineToolOverrides) · Look & levels. Key options include:

  • fillBackground (boolean) · Fill between fan areas.

  • grid (LinesLevels) · Style for the base grid lines (e.g., linestyle, linewidth, color).

  • hlevel1 … hlevel7 (Levels) · Horizontal-level styling (coeff, visibility, color).

  • vlevel1 … vlevel7 (Levels) · Vertical-level styling (coeff, visibility, color).

  • linestyle (number) · Line style for main fan lines.

  • linewidth (number) · Line width for main fan lines.

  • reverse (boolean) · Flip the fan direction.

  • showBottomLabels (boolean) · Show bottom labels.

  • showLeftLabels (boolean) · Show left labels.

  • showRightLabels (boolean) · Show right labels.

  • showTopLabels (boolean) · Show top labels.

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

Return Value

• (string) The drawing ID of the created Speed Resistance Fan (store it if you plan to update/remove later).

Example

Goal: Every 48 candles, project a bullish fan from a past swing low to a recent swing high, with a few labeled levels and soft background.

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

onTick = () => {
  // Keep charts clean: draw occasionally
  if (index % 48 === 0) { // ← change 48 as you like
    // 1) Pick two meaningful anchors
    const origin = newPoint(time(30), low(30));    // swing low (fan start)
    const target = newPoint(time(10), high(10));   // swing high (sets spread)

    // 2) Style everything in one place
    const style = {
      fillBackground: true,
      transparency: 85,
      linestyle: 0,        // 0=solid, 1=dotted, 2=dashed...
      linewidth: 1,
      showBottomLabels: true,
      showRightLabels: true,
      grid: { linewidth: 1, linestyle: 2 }, // subtle base grid
      // Turn on a few classic Fib-like rays
      hlevel1: { visible: true, color: color.blue },  
      hlevel2: { visible: true, color: color.green },  
      hlevel3: { visible: true, color: color.yellow }, 
      hlevel4: { visible: false, color: color.yellow }, 
      hlevel5: { visible: false, color: color.yellow }, 
      hlevel6: { visible: false, color: color.yellow }, 
      hlevel7: { visible: false, color: color.yellow }, 
      vlevel1: { visible: true },                  
      vlevel2: { visible: true },                     
      vlevel3: { visible: true },                  
      vlevel4: { visible: false },                     
      vlevel5: { visible: false },                
      vlevel6: { visible: false },                     
      vlevel7: { visible: false }
    };

    // 3) Build the fan
    fibSpeedResistFan(origin, target, style);
  }
};

Result

Tips

• Use clear swing points (e.g., a recent higher low to a higher high) so the fan aligns with the actual trend structure.

• If the chart looks busy, hide unused levels (visible: false) or disable some labels (show*Labels: false).

• To study pullbacks, compare price reactions around fan lines with your momentum/MA filters.

Warning

Avoid anchors that are only a few bars apart—fans will cluster tightly and become hard to read. Ensure a reasonable distance between fanOrigin and fanTarget.

Good Practice

• Keep a reusable const style and only tweak colors/visibility as needed across tests for consistent backtests.

• Combine fans with Fibonacci retracements/channels to look for confluence (time & price).