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Bill: I am going to reply from memory and
not go and check what I am about to say…sorry if it proves inaccurate.
I know fib projections as follows (and as
Advanced Get implements it):
A wave 5 top might be expected at some fib
ratio projection of Wave length 1 to 3, **projected** from the bottom or end of
Wave 4. If this is not how you define a projection, then quit reading
because this is what I use and understand.
In Adv Get, you click on the beginning of
wav1 and drag to end of wave3; the program remembers this amount, You then
click on the end of wave 4 and the preselected ratios (.62, 1, 1.27, etc) are
plotted upward from where you clicked, end of Wave 4. Tops in Wave 5
might be expected to reverse at one of these “projected” wave
levels.
In AB, I “thought” that I
could drag the fib array from beginning of wave 1 to the end of wave 3 and then
let go of the mouse button. Then place the cursor over the fib array
until it turns into a 4 arrow cursor, hold down the left mouse button and drag
the entire array to the end of wave 4 (what I guess to be the end of wave 4)
and position the array so that the beginning of the array (or the end/top –
I don’t remember) is located at the end of wave 4. The ratios which
have been preselected will then indicate the **projections** of waves 1-3
starting from wave 4. Not as elegant as in Adv Get but still
doable. Again, all of this from memory.
Ken
-----Original Message-----
From: wavemechanic
[mailto:wd78@xxxxxxxxxxxx]
Sent: Friday, October 17, 2003
5:26 PM
To: amibroker@xxxxxxxxxxxxxxx
Subject: Re: [amibroker] Fib
projections
<span
>Ken:
<span
>Unless I've missed something about the Fib tool, it
cannot do APP projections. I have not looked at AGet for a bit, but I
don't recall it being able to do this type of projection either. Miner's
DT software is a study in easy, clean Fib analysis, which is also
essential for Fibonacci pattern studies.
<span
>Bill
<span
>----- Original Message -----
<span
>From: "Ken Close" <<a
href=""><span
>closeks@xxxxxxxx<font
size=2 face="Times New Roman">>
<span
>To: <<a
href=""><font size=2
face="Times New Roman">amibroker@xxxxxxxxxxxxxxx<font
size=2 face="Times New Roman">>
<span
>Sent: Friday, October 17, 2003 4:56 PM
<span
>Subject: RE: [amibroker] Fib projections
<span
>> Joe: yes, you are entirely correct....sorry
I missed the distinction.<span
>
> I made this point to Tomasz back
before there was a fib tool. Dragging
> the entire structure seems to do
the same thing, however, and I am not
> sure which is more tedious,
dragging or clicking a third point. Seems
> pretty moot to me. That
said, however, I think the best projection is
> that programmed into Advanced Get.
>
> Ken
>
> -----Original Message-----
> From: Joe Maywood
[mailto:jmaywood@xxxxxxxxxxx]
> Sent: Friday, October 17, 2003
4:04 PM
> To: Ken Close
> 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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