Fibonacci Expansion calculation?

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  • #117372 quote
    robdav
    Participant
    Veteran

    I’m trying to create the Fibonacci Expansion (Projection) code, the same as the one inbuilt to PRT that I can use in a strategy but I’m unsure how it is calculated.

    So, for projection of a long market, take Point 1 up to Point 2 up to point 3 to project levels beyond.

    Does anyone know the formula, I can’t seem to find it elsewhere.

    Thanks

    Rob

    #117384 quote
    Nicolas
    Keymaster
    Master

    Take the range from high to low and multiply it by the Fibonacci ratio, then add this result to the low.

    Examples:

    Daily Fibonacci Percent

    ZigZag Fibonacci levels

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Fibonacci Expansion calculation?


ProBuilder: Indicators & Custom Tools

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robdav @robdav Participant
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This topic contains 1 reply,
has 2 voices, and was last updated by Nicolas
6 years ago.

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Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 01/21/2020
Status: Active
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