Fibonacci Clusters detect the confluence areas of multiple Fib. levels. Fib. Clusters Algorithm is designed to provide a trader the confluence levels from the swings. A confluence of Fib. retracement numbers signifies a stronger area of support and resistance. The confluence of multiple Fibonacci retracements in a fairly tight area are computed using prior swings both retracement and extensions with certain criteria. Then each Fib retracement/extension level is grouped to generate a confluence within some threshold to find Fibonacci clusters in an area. These “cluster” levels are more significant than a single fib retracement itself. The trades are either initiated or closed at these confluence levels. <br>The Confluence Thresold, Swing Sizes, Number of Swings, Colors and various thickness can be customized.
