Registered User Joined: 10/7/2004 Posts: 2
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Can a scan be written to find Fibonacci levels?
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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It may or may not be possible depending on how you want to identify the Fibonacci levels.
Something simple like calculating 23.6% of the way between the 200-Period Low and the 200-Period High is just a matter of:
Plot = .236 * Price.MaxHigh(200) + .764 * Price.MinLow(200)
But algorithmically determining the most recent "high" and the most recent "low" and then calculating the levels can become quite complicated. If the "high" and "low" are entirely subjective, it is not possible at all. The complexity of identifying an objectively defineed "high" and "low" would depend on the specific unambiguous objective definition being used.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 6/15/2008 Posts: 1,356
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did some experimenting with plotting/scanning for fibs.
hope it helps:
http://forums.worden.com/default.aspx?g=posts&t=58347
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Gold Customer
Joined: 2/1/2005 Posts: 51
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This is for all that request real Fibonacci capabilities.
I have just started perusing Worden forums, although have been a Gold member since March of 2004 . I have always used TC for end of the day scanning. My trading is relatively simplified using candlesticks, moving averages, volume, stochastics and fibonacci. Unfortunately, fibs have always taken a back seat with Worden, and to date the fibs are still nonexistent. In listening to the video seminars from Worden on fibs, I have found most of the people totally clueless. It is a shame that they can develop all these lagging indicators, but fibs that have proven their worth are out of the question. Over the past 12 years, I have used Trade Station, Ensign, Ninja, for my minute to daily charts, trading both equities and futures, and all are serious about Fibonacci. Until Worden actually gets serious, I cannot entertain leaving my day program for perhaps Platinum. You have made some great advances with TC2KV12 but for many of us, you are still in the training wheels stage. Look at Elite Trader web site and see if you even rate with the traders, yes overall Gold is the best cheap program out there as the main consensus.
Please Worden, learn ABC ups, downs, and not only have clarity with your retracements but add fib extensions. I am not asking you to offer preferences like the big boys, colors, thicknesses, percentages, style, but retracement and extensions are a must. Perhaps query the few people that have expressed an interest in fibs, you never know the developers may even learn something, or perhaps get a trial period to most trading platform and get some knowledge.
I would like to gravitate to Platinum, but at this time without real fibonacci drawings it is totally out of the question.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Thank you for your suggestion.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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