Fib price extension lines

January 19th, 2014, 04:27 PM

Currently the Fibonacci price extension lines tool in TS places lines on the chart at Fib ratios depending on the distance of point A to point B added to point C. I would like to have a drawing tool that is similar in that it will plot a horrizontal at the 100% point added to point C but with 2 other horrizontal lines plotted, one 4 tics above the 100% line and another line 4 tics below the 100% line. Does anybody know if this is possible and if so could they please post the code? It would be of immense help.

Thanks

Pi

ABCTG · January 20th, 2014, 05:14 AM

Pi,

to my knowledge you can only add percentage based lines to the build in price extension lines. So it would probably have to be an indicator that draws the remaining two lines. You could use the commentary function to get the base price for the trendlines. Maybe there are even some good Fibonacci tools in the Tradestation forum that already do what you are looking for.

Regards,
ABCTG

Fib price extension lines

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Fib price extension lines