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Joe:
Agree completely. Miner, I think, popularized
this Fibonacci tool, and some may recognize it by his term "alternate price
projection." I find that APP often is more significant than standard
retracement/expansion/extension measures.
Bill
----- Original Message -----
From: "Joe Maywood" <<A
href=""><FONT
size=2>jmaywood@xxxxxxxxxxx<FONT
size=2>>
To: "Ken Close" <<A
href=""><FONT
size=2>amibroker@xxxxxxxxxxxxxxx<FONT
size=2>>
Sent: Friday, October 17, 2003 4:03
PM
Subject: Re: [amibroker] Fib
projections
>
Hello Ken,> > Friday, October 17, 2003, 2:16:55 PM, you
wrote:> > KC> The fib drawing tool can be configured to show
fib extensions as well as> KC> retracements. Draw a fib retracement as
per the help file between two> KC> points. Position your cursor
over some part of the fib lines and the> KC> cursor will turn into a 4
arrow cursor. Double click to open the> KC> settings box.
Click on the tab labeled Fibonacci and you will be able> KC> to set
extension ratios, such as 127.2, 161.8, 268.8 etc. There is a>
KC> check box labeled "Show extensions" that must be checked to see
these.> > KC> Hope this helps.> > Ken,>
> Actually a fib projection is different than a fib extension which
is> what you are describing. An extension is a > 1.0 retracement from
the> same two points that you would use for a standard
retracement.> A projection, on the other hand, requires 3 points, two for
the distance> being projected and a third to position the start of the
projection.> > While this can be done, by doing a "reverse"
retracement and dragging> the whole fib structure to the appropriate
starting position (making> sure you don't have snap to price on) its very
tedious.> > I mentioned this, amongst similar enhancements, to
Tomasz a while back> and really didn't get any firm commitment. There are
a number of drawing> tools like this that would really benefit us
discretionary traders, but> the system traders in the group, by far, have
the loudest voice...> > - Joe> > > >
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