Project Name: Fibonacci Retracement Tool

Table of Contents

1. Introduction
2. What is Fibonacci Retracement Tool?
3. What is Trend Analysis?
4. Installation
5. Usage
6. Configuration
7. Contributing
8. License
9. Acknowledgments
10. Documentation

Introduction

The Fibonacci Retracement Tool is a Python script that assists traders and investors in analyzing stock price trends and identifying potential support and resistance levels using Fibonacci retracement levels. The tool utilizes historical stock price data, and with the help of matplotlib and NumPy libraries, it calculates and plots the key Fibonacci retracement levels on a price chart.

What is Fibonacci Retracement Tool?

The Fibonacci Retracement Tool is designed to apply the concept of Fibonacci retracement levels to stock price charts. Fibonacci retracement is a popular technical analysis tool based on the Fibonacci sequence, a series of numbers where each number is the sum of the two preceding ones. In this context, the retracement levels are used to identify potential levels of support and resistance within a stock's price trend.

What is Trend Analysis?

Trend analysis is a fundamental aspect of stock market analysis used to identify and analyze the overall direction or trend of a stock's price movement over a specific period. The primary goal of trend analysis is to predict the future movement of a stock based on historical price data. Key points related to trend analysis have been discussed in the previous code's description.

Installation

To use the Fibonacci Retracement Tool, you will need Python and the required libraries installed on your system. Follow these steps to get started:

1. Install Python: Download and install Python from the official website: https://www.python.org/downloads/

2. Install necessary libraries: Open a command prompt or terminal and run the following commands:

   pip install pandas
   pip install yfinance
   pip install matplotlib
   pip install numpy
   

Usage

1. Import the required libraries and the Fibonacci Retracement Tool code into your Python script.

2. Define the ticker symbol of the stock for which you want to perform Fibonacci retracement analysis.

3. Specify the start and end dates for the historical data you want to retrieve.

4. Use the get_stock_data function provided in the Fibonacci Retracement Tool to fetch historical stock price data. The function returns a DataFrame containing columns for 'Open', 'High', 'Low', and 'Close' prices.

5. Utilize the calculate_fibonacci_retracement function to calculate the key Fibonacci retracement levels based on the highest high and lowest low points in the trend.

6. Use the plot_fibonacci_levels function to visualize the Fibonacci retracement levels on a price chart.

7. Utilize the find_swing_high_low, find_confluence, and identify_entry_exit_points functions to further analyze the price trend, identify swing highs and lows, and determine potential entry and exit points for trades.

Configuration

No special configuration is required for this project.

Contributing

If you find any issues or have suggestions for improvement, please feel free to submit a pull request or open an issue on the GitHub repository.

License

This project is licensed under the MIT License. See the LICENSE file for details.

Acknowledgments

Special thanks to Harsh Gupta for creating this project.

Documentation

For more details on the code implementation and functions, refer to the code comments and documentation in the source files.