Fib Scan based on 1.272 Ext

Before getting into the details it is absolutely crucial you understand that scans on Thinkorswim are based on Eastern Timezone. The times you have given are not the first 30 minutes of the trading day. Not for the Eastern Timezone. So I will treat this as if you did not know this, and I will base everything here on the Eastern Timezone. Which means we have a start time of 9:30 am and an end time of 10:00 am.

The easiest way to write this is to make sure the study filter is set to 30 min time frame and to exclude extended trading hours. Doing so, means the first bar of each new day becomes our high and low for the fibonacci levels.

Here is the code based on the details I provided above. The time frame of the Study Filter must be set to 30 min. Unless you want the fibonacci level to be computed from the first hourly bar, in which case you would change the Study Filter time frame to Hour. (or some other time frame that you determine). The point is, this code computes the 127.2% fib level from the first intraday bar of a new trading session.

declare lower;
input thresholdPercent = 0.05;
def newDay = GetDay() <> GetDay()[1];
rec trackHigh = if newDay then high else trackHigh[1];
rec trackLow = if newDay then low else trackLow[1];
def upBar = close > open;
rec fibDirection = if newDay[1] and upBar[1] then 1 else if newDay[1] and !upBar[1] then -1 else fibDirection[1];
def targetLevel = if fibDirection == 1 then trackLow - ((trackHigh - trackLow) * 0.272) else if fibDirection == -1 then trackHigh + ((trackHigh - trackLow) * 0.272) else Double.NaN;
def thresholdLevel = if fibDirection == 1 then targetLevel * (1 + (thresholdPercent * 0.01)) else if fibDirection == -1 then targetLevel * (1 - (thresholdPercent * 0.01)) else Double.NaN;
plot scan = if fibDirection == 1 then low <= thresholdLevel else high >= thresholdLevel;

The screenshot below shows the result of the scan on a chart. The two spikes on the lower subgraph shows the points at which the scan results would be true for this stock. The fibonacci drawings were added to demonstrate my code automatically adjusts based on the direction of the opening bar. The red line just before the 127.2% level is the 0.05% threshold.