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Best Fibonacci Drawing tool
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Best Fibonacci Drawing tool

  #1 (permalink)
Elite Member
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Best Fibonacci Drawing tool

Hello.

Can I hear your opinion about which application you think has good Fibonacci drawing tool?
What I mean is to be able to plot several Fibs (quickly) on a screen and for the screen to not seem too cluttered (Fib Confluence) or is that asking for too much? Right now, I have several different time frame windows open and put up a fib for each.
I'm trying to be a Price Action trader, so I'm putting in my screen time.
Therefore, looking for ways to improve how I get information. I trade mostly in the Crude market, so speed is key.

I have tried out and research many trading platforms.
Used for trading or Trial:
MultiCharts, Ninja, ThinkorSwim, MotiveWave, CT4. MarketDelta Trader, Seirra Charts, Investor RT

Researched:
Dynamic Trader, Wave59, Timing Solutions, Market Analyst, etc...

Thanks in advance for sharing!

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  #2 (permalink)
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  #3 (permalink)
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Send a private message to @Fat Tails I know he has created a Fibo tool that draws a line only when there is confluence on multiple time frames and a confluence of ratios. It is similar to the NexGen implementation but according to him it is even better

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  #4 (permalink)
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ogden utah
 
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Which Fib tool?

Hi, does anyone know which Fib tool the post response is referring to? I've seen a few of Fat Tails Fib indicators. I assumed it was the Fib Cluster tool, but would like to know for sure.


trendisyourfriend View Post
@Fat Tails I know he has created a Fibo tool that draws a line only when there is confluence on multiple time frames and a confluence of ratios. It is similar to the NexGen implementation but according to him it is even better


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  #5 (permalink)
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have you tried this?


marcoj3 View Post
Hi, does anyone know which Fib tool the post response is referring to? I've seen a few of Fat Tails Fib indicators. I assumed it was the Fib Cluster tool, but would like to know for sure.

Hi @marcoj3 did you try what @trendisyourfriend suggested which was to PM @Fat Tails about his indicator?
If you include the person you are speaking of in your post with the "@" sign followed by there username- No spaces it will get their attention via a "mention". Just like you got because I put "@" in front of your username
I get a lot of good info about site here
https://futures.io/beginners-introductions/

Take care and all the best, as well Thanks to All the Awesome contributors here @ futures.io (formerly BMT)


Last edited by learning0101; July 30th, 2014 at 03:27 PM. Reason: toned it down
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  #6 (permalink)
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trendisyourfriend View Post
Send a private message to @Fat Tails I know he has created a Fibo tool that draws a line only when there is confluence on multiple time frames and a confluence of ratios. It is similar to the NexGen implementation but according to him it is even better

LOL. I have never tested the Nexgen indicator, so I do not know to what point they are similar. The underlying idea - that is to search for confluence areas, where several fib lines accumulate - is the same.

The Nexgen trading setups follow specific rules and setups, which are based on several indicators. The fib tools I have coded are just meant to be used to find areas of likely support and resistance.

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  #7 (permalink)
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@Netanggos - based on my own usage :

If you are looking for automated way to get the confluence of fix ext/retracements drawn - custom tool from @Fat Tails is the best on Ninja platform.

Alternately - if you just want to draw everything manually (to calculate your own confluence) - Dynamic Trader is probably the best one followed by ( Tradenavigator & Sierracharts).

just my 2 cents !!

Thanks

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  #8 (permalink)
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Fibs

Thanks for your reply!
I just wanted a tool to auto draw Fib levels for a specific time frame.
I didn't want to to waste time (too lazy) drawing them manually.
Could be on a single 30mins, daily, weekly chart or one chart for confluence.

I just started using Sierra Charts again as my main platform. They actually have an indicator that does this. Woohoo!
I use it to auto draw fib levels for the day, but I can imagine it working for confluence.
Just add the indicator multiple times and set fib for different time frames.

Hope this helps!

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  #9 (permalink)
Elite Member
Napa, CA USA
 
Futures Experience: Master
Platform: NT, TS, eSignal, MarketDelta, ThinkorSwim, Ensign, Wave59, Nexgen,
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Using Nexgen for 9 years. Excellent.

I made about 33% today with a 38.11 profit factor and 86% accuracy. Taking moves from key areas and utilizing other tools in conjunction with NEXGEN is important. Also, having an understanding of how Fibs work. I've seen it work dozens of times per day over 9 years using Nexgen and Fibonacci in general, so it's definitely a key component to any trading method. It works.

I have about 8 licenses. I am not needing a couple of Nexgen's licenses and I can save you 5 to 10k on it if you haven't already given them a cal and got your name into their list.

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