FibPlot Version 2

The purpose of this indicator is to provide the TradeStation user the ability to identify a potential change in trend by detecting clusters generated by a Fibonacci time series and time projections from predetermined swing highs and swing lows. The indicator will plot a histogram which is a frequency plot showing the clusters of timing relationships that can be used in conjunction with price relationships using other Fibonacci TradeStation tools such as swing retracements. There are a few trading platforms that provide this type of indicator such as Ninja Trader, Genesis Financial and Dynamic Trader. In fact, Carolyn Boroden’s book, entitled “Fibonacci Trading How to Master the Time and Price Advantage”, describes how timing relationships are used together to achieve a more balanced trading decision.  Another indicator with this package, SwingHighLow, is used to visually delineate the key swing highs and swing lows on the price chart by plotting a cross marker over each swing high (Red) and swing low (Blue) as determined by the right and left strength bars