fibWedge

Draws Fibonacci Wedge curves from three anchors. Think of it as two curved “edges” expanding from a center: you pick the middle (originPoint) and two arc points (leftArcPoint, rightArcPoint) to shape a wedge that follows Fibonacci proportions. Helpful for mapping rounded support/resistance zones and potential “kiss & go” pullbacks within a trend.

Syntax

fibWedge(originPoint, leftArcPoint, rightArcPoint, styles?)

Parameters

• originPoint (PricedData) · Center point where the wedge originates (time & price). Example: newPoint(time(60), closeC(60)).

• leftArcPoint (PricedData) · Controls curvature/reach of the left side of the wedge. Example: newPoint(time(40), low(40)).

• rightArcPoint (PricedData) · Controls curvature/extent of the right side of the wedge. Example: newPoint(time(20), high(20)).

• styles (FibWedgeLineToolOverrides) · Visuals & levels:

  • fillBackground (boolean) · Fill area inside the wedge.

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

  • trendline (LinesLevels without coeff) · Base line look (linestyle, linewidth, color).

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

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

Return Value

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

Example

Goal: every 40 candles, place a wedge using a center and two flanking points. We’ll enable a few classic Fib levels, soft fill, and labels.

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

onTick = () => {
  // Draw occasionally so the chart stays clean
  if (index % 40 === 0) { // ← change 40 to any spacing you prefer
    // 1) Choose three anchors (time/price helpers keep it simple)
    const origin = newPoint(time(60), closeC(60)); // center of the wedge
    const left   = newPoint(time(42), low(42));    // shapes left curve
    const right  = newPoint(time(24), high(24));   // shapes right curve

    // 2) Define style once (easy to tweak later)
    const style = {
      fillBackground: true,
      transparency: 85,
      showCoeffs: true,
      trendline: { linestyle: 2, linewidth: 1 }, // dashed guide
      // Enable a few key Fib levels with distinct colors
      level1: { coeff: 0.382, visible: true, color: color.blue,   linestyle: 0, linewidth: 1 },
      level2: { coeff: 0.5,   visible: true, color: color.green,  linestyle: 0, linewidth: 1 },
      level3: { coeff: 0.618, visible: true, color: color.orange, linestyle: 0, linewidth: 1 },
      level4: { coeff: 1.0,   visible: true, color: color.red,    linestyle: 0, linewidth: 1 }
    };

    // 3) Build the wedge
    fibWedge(origin, left, right, style);
  }
};

Result

Tips

• Use swing highs/lows for leftArcPoint and rightArcPoint so each side hugs real market structure.

• If the chart gets busy, hide unneeded levels with { visible: false } and keep only 2–4 levels active.

• Look for confluence where a wedge curve meets a channel line or horizontal Fib level.

Warning

Don’t pass malformed anchors (missing time or price). Always build points with newPoint(time(offset), priceValue), otherwise nothing will be drawn.

Good Practice

• Keep all style options in a single const style and reuse across tests for consistent backtesting.

• Start minimal (e.g., 0.382, 0.5, 0.618, 1.0) and only add more levels if they add clarity.