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/*FIBONACCI TIME PATTERN I*/
p1=peak(h,10,1);
v1=valuewhen(p1!=ref(p1,-1),cum(1),1);
tr1=trough(l,10,1);
v2=valuewhen(tr1!=ref(tr1,-1),cum(1),1);
dt=v2-v1;
f3=iif(cum(1)-v2>0.381*dt,100,0);
f33=iif(f3-ref(f3,-1)==100,50,0);
ft=v2+0.381*dt-cum(1);
graph1=c;
graph1style=64;
title="FIB 0.381 TIME WILL OCCUR IN "+
writeval(ft,format=1.0)+" DAYS";
It works in Indicator Builder mode, it is updated automatically
everyday and on the title you read something from the future.
(To be continued)
Dimitris Tsokakis
P. S. I am sorry, C is not visible in att. gif, it will occur in 18 days.
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<DIV><FONT size=2>In Fibonacci time retracements we use the following
principle.</FONT></DIV>
<DIV><FONT size=2>(For simplicity I will describe here the period after a
downtrend)</FONT></DIV>
<DIV><FONT size=2>At A we had a significant peak, time ta.</FONT></DIV>
<DIV><FONT size=2>At B we had a significant trough, time tb.</FONT></DIV>
<DIV><FONT size=2>dt=tb-ta is the time interval between the peak and the
trough.</FONT></DIV>
<DIV><FONT size=2>Interesting expectations are at C, when </FONT></DIV>
<DIV><FONT size=2>tc-tb=R*dt</FONT></DIV>
<DIV><FONT size=2>and R is the Fibonacci Ratio, ie 0.381, 0.5, 0.681,
etc</FONT></DIV>
<DIV><FONT size=2>Combination of time and price retracement attempts to find
</FONT></DIV>
<DIV><FONT size=2>the "crucial" point, where the Market will change direction
again.</FONT></DIV>
<DIV><FONT size=2>The following example code is to be used for an uptrend, the
target is to</FONT></DIV>
<DIV><FONT size=2>find the time tc when</FONT></DIV>
<DIV><FONT size=2>tc-tb=0.381*dt</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>/*FIBONACCI TIME PATTERN I*/</FONT></DIV>
<DIV><FONT
size=2>p1=peak(h,10,1);<BR>v1=valuewhen(p1!=ref(p1,-1),cum(1),1);<BR>tr1=trough(l,10,1);<BR>v2=valuewhen(tr1!=ref(tr1,-1),cum(1),1);<BR>dt=v2-v1;<BR>f3=iif(cum(1)-v2>0.381*dt,100,0);<BR>f33=iif(f3-ref(f3,-1)==100,50,0);<BR>ft=v2+0.381*dt-cum(1);<BR>graph1=c;<BR>graph1style=64;<BR>title="FIB
0.381 TIME WILL OCCUR IN "+</FONT></DIV>
<DIV><FONT size=2>writeval(ft,format=1.0)+" DAYS";</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>It works in Indicator Builder mode, it is updated
automatically </FONT></DIV>
<DIV><FONT size=2>everyday and on the title you read</FONT><FONT size=2>
something from the future.</FONT></DIV>
<DIV><FONT size=2>(To be continued)</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>Dimitris Tsokakis</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>P. S. I am sorry, C is not visible in att. gif, it willoccur
in 18 days.</FONT></DIV></BODY></HTML>
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