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Re: [amibroker] Fib Retracement tool



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Hello,
 
It works as described however if you want to have extensions based on 3 points:
there is SEPARATE tool called "Fibonacci Extension" now - use this instead.

Best regards,
Tomasz Janeczko
amibroker.com
----- Original Message -----
From: Tom Gibbs
Sent: Thursday, December 22, 2005 11:41 PM
Subject: [amibroker] Fib Retracement tool

The Fib Retracement tool does not work for me the way it is described in the drawing tool help. With extensions set to on, I find that no matter which direction I draw the downtrend line, the extensions go to the downside. My boxes are properly checked as described in the help file.

 

Here is the help info:

First please note that Fibonacci tool works differently depending on the direction of drawing and "show extensions" flag. See the pictures below.

As you can see it shows both retrace levels (38.2, 50, 61.8) and extension levels (127.2, 161.8). If "show extensions" box is OFF the tool shows ONLY retrace levels. It works in a similar way when controlling trend line is drawn downwards.

 

 

Sincerely;

Tom Gibbs 

 



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