YouTube Video
YouTube Video Transcript
hey this is David for big bits and in this video we’re gonna take a look at the Auto Fibonacci retracement indicator at it as a built-in indicator on trading view a couple of interesting things about it kind of go over the settings for it and how you can actually add it to your chart and some of the ways you can manipulate it and the way it’s shown now there is also another update it’s kind of a security setting update with trading view regarding their multi-factor authentication now if you know what multi-factor authentication is you probably don’t really care to watch the end of the video regarding that but if you don’t know what that is or you need to know where to go to set that up just stay for the end of the video and I’ll show you kind of how to go through all of that but to get started let’s take a look at the Auto Fibonacci retracement indicator now by default it is something you can add by going to the Public Library actually it is a built-in excuse me click on the built in section and you can actually find it here autofit retracement I’ve now added it to the chart you can see this is our auto Fibonacci retracement indicator and is provided as a built-in indicator now by trading view now in the past this used to be something you had to draw this was like a drawing tool you would have the Fibonacci retracement drawing tool and you would actually have to specify the points that you are going to use now that one’s actually backwards I believe but you get the idea you’re gonna have to draw your particular points with the drawing tool now you would have to move this manually and change the points if you wanted to however with the auto Fibonacci retracement you can had settings to the indicator that will adjust where the lines would draw now there are a couple of other important things to know about this indicator before I get into the settings and the first one is that the source code is available as a built-in indicator so if you wanted to see that you could all you have to do is click on the pine tab and let me move my head out of the way so you can see what’s going on hit new and then you can use the auto fit retracement it’s basically just a template that’s all it is and it’ll load the source code over here and you can modify to however you need to and so that’s pretty cool itself and let’s see I think that is about it for all of those things now this is their blog post regarding the autofit retracement so if you’re curious about reading it you can go to their blog you can also find that information when you go to what’s new on trading view here but I want to bring my head back into the picture there we go I’m trying to see if there’s anything else here that we might have forgotten to discuss but I think that is it we’ve shown you how to add the indicator where it’s at and I did forget to mention you can always search for your indicators so if you didn’t know where to go or you forget that you can always just search for Auto fib and it’ll come up in your search results there and you can add it so now let’s take a look at some of the settings for this particular indicator there is a deviation in depth settings these will impact where the lines are drawn from into for the retracement itself so if you play around with this you’ll notice that the lines get drawn differently depending on what depth you have and as always with these indicators once you change the settings it might take a moment to actually recalculate and redraw on the chart itself so even with a depth of four we have pretty much the same values now you’ll notice there are some visual elements here that are mostly to do with what you’re seeing with the plots so we have the option for extend lines right enabled if you disable that all you’re gonna see is the Fibonacci levels between the start and end candle from the selected points that you have now if you check both of them you’re gonna have lines going both ways so that one’s pretty obvious how to use now if you use reverse it reverses the points so that your zero is now here instead of at the top and your values go up from there so depending on how you want to use it you can choose reverse if you need to now this is another visual thing you can hide the prices you can also hide the level so if you’re familiar enough with the indicator that you can recognize the levels by color you just disable that and you can also disable the prices as well if you need to if it’s too much on the screen now they also have a different levels format so this is just kind of a preference thing whatever you’d like to see everything’s exactly the same you’ll notice 61.8% here notice this text is kind of small but all that really is this point six one eight when you switch to values that’s what the percentage value is so that’s just kind of a preference now all of these other checkboxes are settings to display the actual level itself so if we did not want to display the one point two seven two just uncheck that one and it’s no longer on our charts so if there’s a level that you don’t want to use you can easily remove it or if there’s others that aren’t being used that you want to add you can you can see I added the four point two three six and that’s all the way down around to point one K for pick coin right now so I think that pretty much does it for this particular indicator this is something I would like to start using a bit more of I don’t really care for the drawing tools that much I really like to use the indicators so this is gonna be helpful for me now let’s see the other update was the two-factor authentication now if you’re not familiar with two-factor authentication you probably are you just don’t really know what that it actually means to say two-factor authentication that’s just basically adding another factor to your authentication or just to your login as you might be more aware of the term so when you go to login of course you put in your username and password that is the first factor and the second factor in this case can either be a text message to your phone or it can be a one-time password generated by an authentication app now I will take you to my profile and I will show you that when you go to the profile you can find this in these settings under security now there’s really nothing for me to hide from you right here so I’m gonna move my head I’ve already enabled this what’s going to happen if you choose the SMS verification you’re going to have to give it your phone number if it doesn’t already have it it will send you a code it will ask you to place that code into the text box and hit submit and it will confirm that you do in fact actually have access to that second factor authentication now with the Authenticator app which is what I’ve done is when you click to enable this it will bring up a QR code and a security key I forget what it’s called essentially it’s a seed to generate a one-time password and the Authenticator apps use that seed to cryptographically come up with the actual second factor authentication value that you’re going to put in and in most cases it is a six digit number and once you you use an application like Google Authenticator duo mobile or authy now there are other applications such as password managers that will manage these for you along with your actual passwords on the actual site and I actually use one of those that does this as well so if once the QR code comes up you can pull up your password manager and if it has the capability to do it you can add your one-time password and your password manager and you can get your one-time password from there that way you can have a copy and access your one-time password on multiple devices and have a backup of it as well so with the authentication app you put in the code that it generates for you automatically then you confirm that it will give you restore codes or I believe it’s just extra authentication codes and basically it’s a series of 6 words or just random strings I believe that you need to save that in case you lose access to your 2fa you’ll be able to place those in and it will allow you to authenticate even without the actual authentication app now it’s very important that you keep that very secure and private so that people can actually get to that if they were to also find your password ok so and the way that’s going to change things if you don’t already understand is when you log in once you enter your login and your password and it verifies your account information to be accurate it will then also check to see that you have enabled two-factor authentication and then it will detect which type of two-factor authentication you have and then ask you to enter in the correct authentication code or it will send you a text message and tell you to enter in the authentication code from the text message so it’s actually pretty simple stuff a lot of people who are new to two-factor authentication it can be confusing especially the Authenticator app the SMS verification you probably get stuff like this for like doctor’s appointments and other things if you don’t already use it for other websites for 2fa but that will do it for this particular video if you haven’t already please check out my profile on tradingview you can always check out the scripts section which i have tons of public and open-source scripts that you can check out several of them now at least two have been featured scripts within the community the fancy triple moving averages and next up is the fancy Bollinger Bands which are just very customizable indicators for trading view but that will do it for this particular video if you liked the video please leave a like while you’re down there also please consider subscribing because I do videos where we keep up with these changes on trading you because keeping up with trading view and actually utilizing this subscription that I’m paying for is a very good idea and these tools can also make your life a lot easier so that’s why I like to keep up with that also due to pine script tutorials and also share brand new indicators completely free and open source with everyone currently so thank you for watching and have a great day [Music]
YouTube Video Description
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Auto Fibonnaci Retracement Indicator and 2FA now on TradingView: In this TradingView update we discuss new features introduced into TradingView. First we discuss the new built-in Auto Fib indicator, AKA an Automatic Fibonacci Retracement indicator. Retracements with Fibonacci indicators are very common, and popular indicators with many traders. Next we discuss the addition of 2FA and go in-depth on how this works, particularly with the authenticator applications. With Pine Script it is very easy for even beginners to create their own indicators or strategies that have many other indicators within them. Once we have completed the script, we can see our results immediately and begin working with more functions, indicators, and strategies.
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