fibTimezone

Draws a Fibonacci Time Zone: instead of horizontal levels, this tool plots vertical time lines based on Fibonacci ratios. It helps you anticipate possible moments when price could change direction, by spacing lines according to Fibonacci proportions. Traders often use it to forecast time windows for reversals, breakouts, or trend continuations.

Syntax

fibTimezone(originPoint, targetPoint, styles?)

Parameters

• originPoint (PricedData) · The starting point (time & price) where the Fibonacci sequence begins. Example: newPoint(time(50), closeC(50)).

• targetPoint (PricedData) · The second anchor point, defining the base interval that will be multiplied by Fibonacci ratios. Example: newPoint(time(10), closeC(10)).

• styles (FibTimezoneLineToolOverrides) · Customize look and levels. Options include:

  • fillBackground (boolean) · Fill areas between vertical lines.

  • horzLabelsAlign (string) · Align labels horizontally.

  • vertLabelsAlign (string) · Align labels vertically.

  • transparency (number) · Adjust background transparency (0–100).

  • level1 … level11 (LinesLevels) · Define each time level (visibility, color, linestyle, linewidth).

  • trendline (LinesLevels without coeff) · Style for the base trendline.

  • showLabels (boolean) · Toggle labels on/off.

Return Value

• (string) The drawing ID of the created Fibonacci Time Zone (useful if you plan to modify or remove it later).

Example

Goal: Every 60 candles, draw a Fibonacci Time Zone from a swing low to a recent close, projecting forward with clear vertical markers.

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

onTick = () => {
  // Only draw every 60 bars to avoid clutter
  if (index % 60 === 0) {
    // 1) Choose two anchors:
    const origin = newPoint(time(10), low(10));   // start at a swing low
    const target = newPoint(time(0), closeC(0)); // measure forward 40 bars

    // 2) Style: background fill with labeled lines
    const style = {
      fillBackground: true,
      transparency: 85,
      showLabels: true,
      level1: { visible: true, color: color.blue, linestyle: 0, linewidth: 1 },
      level2: { visible: true, color: color.green, linestyle: 0, linewidth: 1 },
      level3: { visible: true, color: color.purple, linestyle: 0, linewidth: 1 },
      level4: { visible: true, color: color.red, linestyle: 0, linewidth: 1 },
      level5: { visible: false},
      level6: { visible: false},
      level7: { visible: false},
      level8: { visible: false},
      level9: { visible: false},
      level10: { visible: false},
      level11: { visible: false}
    };

    // 3) Build the Fibonacci Time Zone
    fibTimezone(origin, target, style);
  }
};

Result

Tips

• Use a swing high/low as the originPoint so the timing projections align with meaningful pivots.

• Combine with price-based Fibonacci tools (like retracement or channels) to find confluence in both price and time.

• If the chart feels cluttered, hide unused levels by setting them to { visible: false }.

Warning

Don’t set both originPoint and targetPoint too close (like only 1–2 candles apart). The projected lines will be too dense and unreadable.

Good Practice

• Keep your styles definition in a const object so you can easily tweak colors or levels later.

• Test different intervals (20, 50, 100 bars) to see which time projections align better with your market.