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I use MS ver5.11. I go to insert>Fibonacci>retracement. Place the cursor
at the low/high and drag to the point you want to anchor the study to. The
lines plotted arae 23.6,38.2,50,61.8.
Al Taglavore
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> From: Erika Toth Fluke <Erika@xxxxxxxxxxxxxxxxx>
> To: Metastock 6. 0 (E-mail 2) <metastock-list@xxxxxxxxxxxxx>
> Subject: Fibonacci Lines in MS 6.5
> Date: Thursday, February 26, 1998 9:32 AM
>
> HI,
>
> In the last couple month I wanted to plot the Fibonacci lines on the
chart
> so that I don't need to go to excel and calculate it. Yesterday I
finally
> came up with a solution using the Zig-Zag indicator. I read a lot of
> unfavorable opinion about that indicator. It looks to me that in the
> Fibonacci case I can use it, but I would like to know if anybody has
> opposing opinion that I'm not aware of in using the Zig-zag indicator for
> his purpose.
>
> The indicator I created is:
> Piv#11 - Fibonacci Levels
>
> ZigPerc:= Input("Zig-Zag Percentage", .1, 99, 1);
>
> {basic peak and trough level calculation}
> P1 := ValueWhen(1, Peak(1, Zig(C, ZigPerc, %) , ZigPerc) , Peak(1,
> Zig(H, ZigPerc, %) , ZigPerc)) ;
>
> P2 := ValueWhen(1, Trough(1, Zig(C, ZigPerc, %) , ZigPerc) ,
> Trough(1, Zig(L, ZigPerc, %) , ZigPerc));
>
> {Fibonacci retracement levels calculation}
> P3 := P2 + (P1-P2)*0.236;
> P4 := P2 + (P1-P2)*0.382;
> P5 := P2 + (P1-P2)*0.5;
> P6 := P2 + (P1-P2)*0.618;
> P7 := P2 + (P1-P2)*0.764;
>
> {Plotting the levels}
> P2; {through}
> P3; {23.6% (76.4%) retracement}
> P4; {38.2% (61.8%) retracement}
> P5; {50.0% retracement}
> P6; {61.8% (38.2%) retracement}
> P7; {76.4% (23.6%) retracement}
> P1; {peak}
>
> Good trading,
>
> ***** Erika ***** :-)
>
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