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Fib numbers are applied on the basis that the number divided by next number
and charted has the line approaching 0.618 (think that is right)
It makes sense to use these as the number series was originally formulated
to simulate a rabbit population increase, makes sense to apply this to
building architecture and structures, and of course trading :-)
You could apply the number series as a loop function and draw them.
Fib[0] = 0.25;
Fib[2] = 0.382;
Fib[3] = 0.5;
Fib[4] = 0.618;
Fib[5] = 0.75;
Fib[6] = 1;
etc
Then include this with the line draw tool I posted before and you can draw
all the lines like the manual method.
For(f=0;f<=6;f++)
{Then some formula to create and plot the various lines, or signals}
As a trading tool, maybe have a signal when the price is nearing a fib ratio
allowing some leeway for real life +/- 10% or such, or when the price
crosses a fib ratio. I have not looked into this, but might put it on my
list unless someone already has done it. I did not check the libraries or
email histories.
Cheers,
Graham
http://www.golala.com/forums/?mforum=asxsharetrading
http://groups.msn.com/fmsaustralia
-----Original Message-----
From: mroman59 [mailto:mroman59@xxxxxxxxx]
Sent: Monday, 26 January 2004 9:34 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] Re: Fibonacci - Graham or anyone
Thanks Graham
You are on the right track, however this is not what Fibonacci lines
are all about. Amibroker can draw the lines but i dont know how to
use this in exploration. At the following site I found the formuala
for Fibnacci Numbers but I have not figured out how to apply them to
stock price low to highest high or most recent high.
http://www.stockstoshop.com/fibonaccinumbers.htm or see below: If you got to
the site you can see a chart diagram of MSFT.
Thanks
MR
Fibonacci Numbers
Fibonacci numbers measure the amount the market has retraced
compared to the overall market movement. Fibonacci numbers are
ratios, which are mathematical in nature derived from the Fibonacci
sequence, which was developed by Leonardo Fibonacci.
Fibonacci retracements are commonly drawn from the beginning of Wave
1 to the top of Wave 3 to find a target to the Wave 4 retracement.
Fibonacci numbers are the numbers in the Fibonacci sequence 0, 1, 1,
2, 3, 5, 8, 13, 21, . . . , each of which, after the second is the
sum of the two previous ones.
Fibonacci numbers can also be considered as a function of non- negative
integers:
n = 0, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, ...
F(n) = 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, ...
The exact closed form solution for this function is called the Binet
formula:
F(n) = (Phi^n - PhiP^n)/Sqrt(5),
where Phi = (1 + Sqrt(5))/2 = the Golden Ratio,
and PhiP = Phi Prime = (1 - Sqrt(5))/2 = 1 - Phi = -1/Phi, Since F(n)
is an integer and the magnitude of PhiP^n/Sqrt(5) is less
than 1/2 for n >= 0, a variant form of the formula is:
F(n) = Round(Phi^n / Sqrt(5)), n >= 0.
Fibonacci numbers can also be defined for negative n:
F(-2 n) = -F(2 n)
F(- 2 n - 1) = F(2 n + 1)
n = ..., -6, -5, -4, -3, -2, -1, 0, 1, 2, 3, 4, 5, 6, ...
F(n) = ..., -8, 5, -3, 2, -1, 1, 0, 1, 1, 2, 3, 5, 8, ...
The continuous analytic function:
F(x) = (Phi^x - |PhiP|^x)/Sqrt(5),
passes through all Fibonacci numbers of even n = x (n positive or
negative).
The continuous analytic function:
F(x) = (Phi^x + |PhiP|^x)/Sqrt(5),
passes through all Fibonacci numbers of odd n = x (n positive or
negative).
--- In amibroker@xxxxxxxxxxxxxxx, "Graham" <gkavanagh@xxxx> wrote:
> Not certain exactly what you are wanting, so I will enclose an
example to
> see if it helps. This is finding the last 260 day high, then the
260 day low
> prior to that, and plotting these with the 38% retracement from
the high.
>
>
> L52 = LastValue( Ref(LLV(L,260),-H52bar-1) );
>
> L52bar = LastValue( BarsSince(L==L52) );
>
> change = H52-L52;
>
> Retrace38 = H52 - change*0.38;
>
> Plot(C,"price",colorBlack,styleBar);
>
> Plot(IIf(BarIndex()>=(BarCount-1- H52bar), ValueWhen(H==H52,H),
Null),
> "H52", colorRed,
>
> styleLine);
>
> Plot(IIf(BarIndex()>=(BarCount-1- L52bar), ValueWhen(L==L52,L),
Null),
> "L52", colorRed,
>
> styleLine);
>
> Plot(IIf(BarIndex()>=(BarCount-1- H52bar), Retrace38, Null), "Retr
38%",
> colorGreen,
>
> styleLine);
>
> GraphXSpace=5;
>
>
>
> Cheers,
> Graham
> http://www.golala.com/forums/?mforum=asxsharetrading
> http://groups.msn.com/fmsaustralia
>
> -----Original Message-----
> From: mroman59 [mailto:mroman59@x...]
> Sent: Saturday, 24 January 2004 8:06 AM
> To: amibroker@xxxxxxxxxxxxxxx
> Subject: [amibroker] Fibonacci Formulas? Help anyone
>
>
> Does anyone have the formula for determining the price of a stock that
> retraces using the popula fibonacci % lines. I am alittle confused,
> when i draw the lines using AB from lo to hi point it gives me the
> %lines and a value. However the value does not seem to correlate with
> the %retracement. For example, when i calculate the % that a stock
> has retraced from its 52 week hi the value does not match the with the
> lines drawn nor does the value 38.2% line value correlate with actual
> 38.2% retracment of the stocks value. Now
that
> I have you confused and myself can anyone help me? I am trying to
> create an exploration or indicator that will alert me when a stock in
> my watchlist has retraced to one of these values.
>
> Thank YOu
> MR
>
>
>
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