Greetings:

I use fibonacci fans quite a bit but find the placement of them rather devilish. Do you know if there is a way to calculate the price point, eg, where the line intersects price? In other words, instead of placing these lines on all my charts, very tedious work, is there a way, given the variables (the interval from the fib starting point (number of days) the fib staring price (where the fan begins), the fib level (eg 50, 76 etc), to actually calculate it ? I'm sure there's an answer, but I don't recall from geometry and trig how to get there. The fib levels don't actually represent the slope in a conventional sense, so I'm not sure if the slope would need to be calculated first or what.

Kind thanks

Al

You need to know the both the number of bars ago and price of both the point where you started drawing the fan and the point where you stopped drawing the fan, but yes, this is possible.

For arithmetic scaling, the calculations would be something like the following.

Start Price + (1 - Percent / 100) * (Current Bar - Start Bar) * (End Price - Start Price) / (End Bar - Start Bar)