Fib Plot Indicator
Most market technicians have espoused the Fibonacci sequences when analyzing price movements such as retracements. But time is also just as important. The purpose of this article is to emphasize the when (time) and not the what (price). As W. D. Gann said, time is just as important as price. In fact they are really one of the same.
The sequence in which each number is the sum of the two preceding numbers, is known as the Fibonacci series: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181, where each number is the sum of the previous two.
The purpose of this indicator is to provide the TradeStation user the ability to identify a change in trend or a change in volatility as measured in trading ranges. Fib Plot is designed to provide signals using either a daily or intraday chart. Continuous futures data contracts are good for this as well as equities.
*All trading tools come fully disclosed in a detailed manual. They all come with TradeStation EasyLanguage code, where applicable. You may be able to import EasyLanguage code into Ninja Trader (See Ninja Trader platform for compatibility). *
Original Price: $99.00
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