Thread: fibonacci calculator

hello traders,
i have one fibonacci calculator i already attach that indicator but i dont know how to use that indicator so please tell me how to use that indicator.

regards,
k.n.v.santosh

I hope the picture help, what the calculator is asking is for you to enter 3 points.
The high, the low and a mid point, shown by the arrows.

Then it is offering you entry points, notice the thick line in white, that would have been your first entry.

Originally Posted by Foreverold

I hope the picture help, what the calculator is asking is for you to enter 3 points.
The high, the low and a mid point, shown by the arrows.

Then it is offering you entry points, notice the thick line in white, that would have been your first entry.

thanks and any other information is there about this calculator i mean how to take a, b, c values. please give me the information

regards,
k.n.v.santosh

Originally Posted by knvsantosh

thanks and any other information is there about this calculator i mean how to take a, b, c values. please give me the information

regards,
k.n.v.santosh

I guess, I am not sure what you are asking by a,b,c values,
But one of the ways I would use this calculator would be to find fib clusters, then base your entry from there.

it would be easier at first to find a trending chart pattern, one with symmetry, in other words one that is stepping rather even.

to find the clusters, first locate each high on the chart you are looking at, time fram is not important yet.

Then locate each low on the same chart

The attached chart is for an example, I believe it is a few weeks old, but I drew in some steps, (you are finding the high and low in each step)

type in the values (high, low and mid point (retracement)) in each step

Then plot the values on your chart, if 2 or more values are at the same level you have a cluster (I like 3 values or more) 3 values make a stronger support/resistance.

now repeat this for each time frame you wish, if you find the same value repeating you just fornd your entry, or exit whichever you are looking for.

Granted this is alot of work, you can do the same thing using the retracement and expansion tools in metatrader. I use dynamic trader for this it is easier for me and neater