i mean you can see the computation in the code im guessing.. there are a few diff types of computations you can use on some of the harder to find waves of the instruments he did research on. he goes back(most of them 2001-2202 i think were the years) where the first major futures wave was first started, then he uses fib computations from there to project out major and minor fib lines. in the video on that page he explains it in more detail. all of the lines will always be on the chart above and below to matter what, they never change.. the only random lines are from the start of the first major initial wave pattern of the the instrument, then projected outwards using his fib calculations..
here is a quick snap shot of a few days ago(last time i opened TOS to check on em).. those lines are plotted from price action 10 years ago..:
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dont believe anything you hear and only half of what you see
If not, I suggest reading it and really what I suggest is reproducing my test yourself on a daily basis for a few days. The point is better understanding your perception and how the mind works, not that the numbers are at all useful in any way.
Using daily pivots are a bit different, because it is a self fulfilling prophecy. So you might put daily pivots side-by-side with your indicator and see if there is a difference.
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I have been using levels from an outside vendor for 8 months. No fibs are involved so if you require fibs I would not suggest it. When certain parameters are violated the levels are automatically recalculated. They appear on your charts and update throughout the session. They might change as many as 3 times throughout a large range session. This is great for 24 hour markets. When the 6E makes a large move overnight you are not left in no mans land for the US session.
They appear on your NT charts and look and color are adjustable. They come with a simple yet powerful PDF that explains how to employ them. They are not simple S/R lines. They are the best I have ever used.
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Will try to attach a JING Screencast to show the level shift on 10/21 at 8:41 AM CDT
This post is a possible dupe as I tried to send it earlier.