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
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.