Predicts price retracement on up trends and down trends
This works in trending markets- still in progress. I’m also trying to see what strength the trend needs to be for it to really work how it should.
How I made it
Take the Fib extension tool
Go into settings, put it on percentage
Use these two codes
1.618 (after placing the tool on the chart it should say 161.8 %)
And
.614 (this should say 61.4%)
Place one point at the swing low of a trend and the second point at its swing high(get the bars not the wicks) the third point goes to the same y coordinate of the first point. The x coordinate doesn’t matter for the third point, but it’s y has to be the same y as the first point.
This is not complete- don’t use it in real trading
Do more testing and research on it
This works in trending markets- still in progress. I’m also trying to see what strength the trend needs to be for it to really work how it should.
How I made it
Take the Fib extension tool
Go into settings, put it on percentage
Use these two codes
1.618 (after placing the tool on the chart it should say 161.8 %)
And
.614 (this should say 61.4%)
Place one point at the swing low of a trend and the second point at its swing high(get the bars not the wicks) the third point goes to the same y coordinate of the first point. The x coordinate doesn’t matter for the third point, but it’s y has to be the same y as the first point.
This is not complete- don’t use it in real trading
Do more testing and research on it
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.