Hi,
I would like to code a fibo expansion based on the last hi/low (tops & bottoms).
Fibo Expansion needs 3 points. I think it's a great tool to calculate profit & SL targets.
I don't have the formula with 3 points. Somebody can help me ?
Fibo expansion levels are -0.618 for SL, 1.618 TP1 and 2.618 TP2.
See attached chart (fibo expansion are orange lines)
Thanks for your help !
Fibos Expansion Help !
- lhDT
- Trader
- Posts: 198
- Joined: Tue Nov 15, 2011 9:52 pm
- Location: Brussels/Belgium
Fibos Expansion Help !
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- Gamma_gallus
- Trader
- Posts: 118
- Joined: Wed Nov 16, 2011 2:03 pm
- Location: France
Re: Fibos Expansion Help !
I've found below indicator yesterday, I can't understand the code, some I hope this can somehow help you if you fine tune it. (it doesn't draw the actual fib lines, but instead it calculates H/L from prev days etc..)
Olivier
Olivier
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