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Re: [amibroker] Fibonacci Cluster Calculations?

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----- Original Message -----
Sent: Saturday, April 02, 2005 2:28 PM
Subject: [amibroker] Fibonacci Cluster Calculations?

Hi All,

Does anybody have any direction to automatically draw Fibonacci cluster
levels? In a nut shell take a trend (any time frame) draw a trend line then
calculate possible support/resistance based on 3 + bar pull backs in said
trend line using fib numbers!! Not your standard Fib drawing tool. Then AB
would draw those lines.
He is using the wrong value, so how good can it be?  The fourth root of .618 or square root of .786 is .887 ;-)  In any case, it is not clear what he using for an algorithm, including his moving average and intermediate pivots.  What does he mean by using retracement levels as a means to determine the trend?  What do you mean by a 3+ bar condition.  If the algorithm is defined, the code can be written.
 
Jerry Gress
Stockton, Ca.


One Ref: http://www.day-traders.com/fibonacci.html but not the first with
the ideal.

Ps. If Tradestation can do it; AB can do it better!!




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