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Fibonacci Extensions
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Fibonacci Extensions

  #1 (permalink)
Market Wizard
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Fibonacci Extensions

Does anyone know of an indicator like this:
Fibonacci Extensions?

There is one in Ensign charts but have not seen one ported to NT.

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you mean for NT7?

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isnt N7 the same as 6.5? I wouldn't think they would get rid of fib extensions. see pic

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Market Wizard
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cory View Post
you mean for NT7?


Thanks cory, david

I see the built-in one in NT.
However, the one I'm looking for draws a little differently on the image I posted.

The difference is that the Extension is 'a measured line'.

This gives more of an elliot wave type of look or zigzag which is extended with the same slope as the previous a/b/c line.

This creates more of an A - B - C - D - E - F measured move and can have fibonacci lengths.

It works very well at identifying when a move is the typical fibonacci extension or elliot wave continuation.

Thanks for your input.

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DavidHP View Post
Thanks cory, david

I see the built-in one in NT.
However, the one I'm looking for draws a little differently on the image I posted.

The difference is that the Extension is 'a measured line'.

This gives more of an elliot wave type of look or zigzag which is extended with the same slope as the previous a/b/c line.

This creates more of an A - B - C - D - E - F measured move and can have fibonacci lengths.

It works very well at identifying when a move is the typical fibonacci extension or elliot wave continuation.

Thanks for your input.


DHP,

In the picture you posted are the .618 and the .786 shown, percentages of the A-B leg? I would think that is the only possibility, correct? You can set the fib ext tool in Ninja to have whatever % you want. It won't plot the A,B,C for you if thats what you mean, but it will give you the ratios. Is the attached not the same?

p.s. if you want to see the distance of AB projected from C then use a 100% extension. would that be what you want?
D

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Fibonacci Extensions-fib.png  

Last edited by David_R; May 19th, 2010 at 11:12 PM. Reason: added ps
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David_R View Post
DHP,

In the picture you posted are the .618 and the .786 shown, percentages of the A-B leg? I would think that is the only possibility, correct? You can set the fib ext tool in Ninja to have whatever % you want. It won't plot the A,B,C for you if thats what you mean, but it will give you the ratios. Is the attached not the same?

p.s. if you want to see the distance of AB projected from C then use a 100% extension. would that be what you want?
D


Not really.

The way that this tool works in Ensign charts is that 'normally' the fib numbers are not shown. ( I know they are on the image but that is not the default).

The tool allows the user to draw a zigzag line when the first A - B - C leg is complete and then the rest (D - F) are auto added by the drawing of that leg. The C - D leg is either a fib extension or percentage of A - B. The D - E leg duplicates B - C (short leg). And the E - F leg is an extension or percentage of the C - D Leg.

The result is a 'projection' (prediction) of where the next 'measured move' or fib extension will reach. It is kewl the way that many times those extensions are accurate within a tick or two of being the extent of the leg that has not occurred.

I'm sure the built-in indicator can be drawn twice to accomplish this result, but it would be real neat to have it in one indicator that draws a calculated extension automatically.

Thanks

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DavidHP View Post
Not really.

The way that this tool works in Ensign charts is that 'normally' the fib numbers are not shown. ( I know they are on the image but that is not the default).

The tool allows the user to draw a zigzag line when the first A - B - C leg is complete and then the rest (D - F) are auto added by the drawing of that leg. The C - D leg is either a fib extension or percentage of A - B. The D - E leg duplicates B - C (short leg). And the E - F leg is an extension or percentage of the C - D Leg.

The result is a 'projection' (prediction) of where the next 'measured move' or fib extension will reach. It is kewl the way that many times those extensions are accurate within a tick or two of being the extent of the leg that has not occurred.

I'm sure the built-in indicator can be drawn twice to accomplish this result, but it would be real neat to have it in one indicator that draws a calculated extension automatically.

Thanks

Oh, okay. Sounds like Ensign has more of an ABCDE tool. I guess to answer your question then, I don't think Ninja has that. I would think some of the smart programmer people could do that for ninja where you draw in abc and it calculates out the possible projections. Just my guess though.

D

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