|
PureBytes Links
Trading Reference Links
|
I think you may be using the retracement tool incorrectly
to calculate Fib extensions/expansions. You need
to calculate an expansion from 3 points, ABC,
not just two points.
Forgive me if you are doing this correctly. It's
frustrating that so many charting packages
calculate Fib expansions incorrectly.
I trade with Fibs all the time, so believe me,
there is a right way and a wrong way...
-Neal.
At 02:29 PM 1/6/2001 -0500, Chris Cheatham wrote:
>Use the retracement tool -- settings as follows...
>
>
>1.618
>2.618
>4.236
>.382
>.618
>.214
>.764
>.5
>
>Note these are 1-fib, e.g. 1 - .764 = .236 -- implies using tool backward
>from how Omega designed it, but I like that better
>
>Great tool, have fun
>
>Chris
>----- Original Message -----
>From: "Sean O'Toole" <sean@xxxxxxxxxxxxxxxxxxxx>
>To: "Omegalist" <omega-list@xxxxxxxxxx>
>Sent: Friday, January 05, 2001 2:29 PM
>Subject: Fib Extension
>
>
> > There is a tool in Advanced GET called a Fibonacci Extension.
>Essentially,
> > it allows you to pick three points (a,b,c) and it will put target lines at
> > the ratio levels that you have assigned. Does anyone know of anything
> > similar available for Tradestation?
> >
> > Sean
> >
|