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Fibonacci retracement is the percentage retracement
of the previous move. It is not a question of personal
preference. A move from 30 to 90 and then a retracement of 22.9 to 67.1 is
a 38.2% retracement. A move from 90 to 30 and then a retracement of 22.9
to 52.9 is also a 38.2% retracement. The retracement scale should reflect
this fact.
----- Original Message -----
<BLOCKQUOTE
>
<DIV
>From:
Tomasz Janeczko
To: <A title=amibroker@xxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Monday, April 16, 2001 2:56
AM
Subject: Re: [amibroker] Fibonacci
Retracement
Hi,That is strange but Metastock worked that way in
version 6.5. But withthe newest version (7) it marks highest level always
as 0% and scalegoes to 100% for the low (as AmiBroker works now).I had
a dillema which version should I implement in AmiBroker.To All: do you
prefer one way over another? why? would you like to changecurrent
behaviour of retracements in AmiBroker?BTW: The Fibonacci extensions
(2.618 and 4.236 levels) will be addedanyway.Best
regards,Tomasz Janeczko----- Original Message -----From:
<wd78@xxxx>To: <amibroker@xxxxxxxxxxxxxxx>Sent:
Monday, April 16, 2001 1:05 AMSubject: [amibroker] Fibonacci
Retracement> The Fibonacci Retracement tool is only half
right. Specifically,> when the trendline is drawn from low to
high the retracements levels> start at 0% for the high and go to 100%
for the low, which is> correct. But when the trendline is drawn
from high to low 0% is at> the low amd 100% is at the high, which is
not correct. In this case,> the scale has to be inverted.
No matter how the trendline is drawn,> 0% should always be at the end
of the trendline, and the retracement> levels should always increase in
the direction opposite of the> trendline's x-axis
vector.>>>>>> Your use of Yahoo!
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