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Fibonacci Spirals - How to use them in daily trading
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Fibonacci Spirals - How to use them in daily trading

  #21 (permalink)
Market Wizard
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Hi @bobwest

Thanks for your interest.
To be honest I was never a user of fibo lines. Quite easy to understand for a INTRAday-Trader
who is watching shorter timeframes.
Plus there are friends of fibo who watch only cash hours and others watch all futures hours.
Of course all those results are very different when it comes to an accurate chart.
This is why I take the spiral over the full futures trading day to see where prices came from
and to where they move with high probability.
The spiral is a second opinion for me - no trade is triggered from the spiral itself. For this I do
have my pattern systems.
But one thing is very good about to have a spiral on a chart: You can much more relaxed
push the button to start a trade when you see it is according to the bigger picture.

Good trades
GFIs1

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  #22 (permalink)
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GFIs1 View Post
Chart should be aligned "automatic" - and not squeezed or extended manually.
Otherwise the spiral on a distorted chart can give wrong results.

GFIs1

Interesting. From my understanding of this Linnsoft support page, the Automatic setting simply sets the vertical range of the chart automatically by determining the highest high of all data values and the lowest low. I'm not sure that is actually "squared".

I think "squared" means that the ratio of the time scale to the price scale is 1:1.

From that same Linnsoft page, I believe this is how one achieves the squared setting:

Slope (Price/Bar)

This option may be the most difficult to completely comprehend, but may be the most useful when trying to maintain constant price/time relationships regardless of scrolling, panning, or resizing. This option allows the user to specify a fixed relationship between price vertically and time horizontally. It basically passes control of the range over to the horizontal pixels per bar setting. The setting controls how much price the width of each bar represents. In other words, if a value of 0.5 is specified, and the horizontal pixels per bar is 10 pixels, then the vertical scale will be drawn with 10 pixels for every 50 cents, or a pixels/unit of 20. The vertical range is then computed based on 20 pixels/unit. While the explanation may be somewhat confusing, the important thing to understand is this option gives you the ability to maintain a constant picture with respect to price/time relationships. In other words, trendlines will maintain their slopes regardless of the vertical size of the chart, the actual date values in the pane, or the scrolled position of the chart. And trendlines will continue to pass through the same prices of every bar regardless.


This is one of the reasons I never used fib spirals, I couldn't find any software that allowed for this (except for Wave59 which is too expensive) until now

Update: It may not have to be a 1:1 ratio, but it does have to be fixed...the Slope setting would do that...perhaps Automatic works as well as long as it is never "squeezed or extended manually" as you say.


Last edited by srgtroy; January 17th, 2016 at 06:05 PM.
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Square Scaling:

He's using MT4 but the concept is the same:



Last edited by srgtroy; January 17th, 2016 at 07:00 PM.
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Buy support and sell resistance. That's all there is to it. Why complicate that?

If you get into fib circles and all that, might as well whip out Astrolog 5.4:



Interesting thread nonetheless, will be checking out what you guys come up with, chart porn is always fun!

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Buy support and sell resistance. That's all there is to it. Why complicate that?

If you get into fib circles and all that, might as well whip out Astrolog 5.4:



Interesting thread nonetheless, will be checking out what you guys come up with, chart porn is always fun!

Page 3 of the thread and Fib Derangement Syndrome rears its ugly head. Sadly, predictable. There's another thread for that, dude...not here, please.


Last edited by srgtroy; January 17th, 2016 at 08:19 PM.
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srgtroy View Post
Square Scaling:

He's using MT4 but the concept is the same:


I did not know about this concept. Thanks for the link. Do you know if we can use the spiral tool with MT4?

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I did not know about this concept. Thanks for the link. Do you know if we can use the spiral tool with MT4?

I don't know, sorry. I know very little about MT4...

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Hi @srgtroy

Thanks for the video and the explanation for "squared" for time and price.
I will check for the difference between "automate" and the "fixed slope".
In fact I could optically adjust in some charts the best relation until the curves
were perfectly fitting.
Will give some examples of both settings to show how different they are.

GFIs1

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  #29 (permalink)
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Hi @srgtroy

Thanks for the video and the explanation for "squared" for time and price.
I will check for the difference between "automate" and the "fixed slope".
In fact I could optically adjust in some charts the best relation until the curves
were perfectly fitting.
Will give some examples of both settings to show how different they are.

GFIs1

Great! I think comparing the two methods is the way to go. Thanks!

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The 60m Spiral


Here an update of the first chart in this thread:

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This time it is a 60 minute chart.
Interesting how price moves along the blue line and the green line.
Second interesting thing is when the price detaches from following one line
how fast the downmovement to the next relevant line is...
I just let green Chikou Span on the chart as it is interesting where the
spiral lines block Chikou in the short move.

Need to precise that this spiral is again on "automatic" chart setting.
One can see that setting in the upper right corner with the "A".

Hope to see more relevant charts like this.

To be honest - I checked the ES as well but price does not fit so
smooth as with the Dax right now.

GFIs1

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