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
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