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
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
The following user says Thank You to trendisyourfriend for this post:
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 02:27 PM.
Reason: toned it down
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.
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.