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Hi,
All you wrote is true but only when you treat upward and
downward movements differently.
As I wrote before not every program does it. Anyway I
have got the idea how to
fit everybody's requirements in the next release
:-)
Best regards,
Tomasz Janeczko
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
wavemechanic
To: <A title=amibroker@xxxxxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Monday, April 16, 2001 3:02
PM
Subject: Re: [amibroker] Fibonacci
Retracement
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 retracementof
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@xxxxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Monday, April 16, 2001 2:56
AM
Subject: Re: [amibroker] Fibonacci
Retracement
Hi,That is strange but Metastock worked thatway
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 lowto
high the retracements levels> start at 0% for the high and go to100%
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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