ZenAlgo - Grid (free)
Grid turns recent price swings into a working map. It marks market structure, draws Fibonacci retracement areas, and keeps important highs and lows visible so that you do not have to redraw them after every new swing.
The indicator is useful for planning where a reaction would make sense. It does not decide whether that reaction will happen.
Read structure before levels
Grid labels swing points as:
- HH: higher high
- HL: higher low
- LH: lower high
- LL: lower low
A sequence of HH and HL describes an upward structure. LH and LL describe a downward structure. Internal structure reacts faster and shows smaller swings; external structure filters more noise and focuses on the larger movement.
When Grid marks a structural Break or Change, read it as evidence that the previous swing relationship changed. One label is not enough to define a new trend; watch how price behaves after the break.
Fibonacci grid and key levels
The automatic Fibonacci grid is anchored to the active swing. Levels such as 0.382, 0.5, 0.618, 0.65, and 0.786 show how deeply price has retraced that move.
The area between 0.618 and 0.65, often called the Golden Pocket, is visually emphasized. It is an area to inspect, not a guaranteed reversal zone. A retracement there becomes more interesting when it also aligns with a prior swing, a higher-timeframe high or low, or a clear reaction in price.
Grid can also display significant historical highs and lows, including 4-hour levels. These are useful as possible targets, invalidation points, or places where a breakout may need confirmation.
A practical reading
Suppose external structure remains bullish and price pulls back from a higher high. Grid draws the retracement levels over that swing. If price reaches the Golden Pocket near a previous higher low, the chart now shows a logical area to watch.
The next step is observation: does price hold the area and rebuild bullish structure, or does it break through and invalidate the idea? Grid supplies the map; price action supplies the answer.
Settings
Sensitivity controls how readily Grid recognizes new pivots. Lower sensitivity produces more internal swings and more labels. Higher sensitivity produces fewer, broader structures. Start with the external structure and add internal structure only when the extra detail helps your decision-making.
Individual Fibonacci levels, highs/lows, labels, and colors can be hidden to keep the chart readable.
Alerts
Grid currently has no built-in alert conditions. Pivot labels, structure breaks, Fibonacci levels, boxes, and high/low levels are visual planning tools. Set manual TradingView price alerts on selected levels when you need notifications.
Get Grid
Open the public script on TradingView or get permanent access through ZenAlgo: