Popular tags: Support, Resistance, Trend, Range, Fibonacci, Wave, Divergence, Multi time frames(MTF), Swing, Volume, Overbought, Oversold
 


The deadline has passed.

Auto Fibonacci Channel indicator for MultiCharts

Auto Fibonacci Channel indicator for MultiCharts
Availability: In Stock
Price: $99.00USD $59.00USD
Qty:     - OR -   Add to Wish List
Add to Compare
0 (0/5)  0 reviews  |  Write a review
This MultiCharts indicator is able draw the Fibonacci Channel automatically on chart based on the input range of bars.

The lines of a Fibonacci Channel used Fibonacci ratios determined by the Fibonacci series, typically 23.6 percent, 38.2 percent, 50 percent, 61.8 percent and 80.9 percent. They can be used to estimate support and resistance levels.
 

 
Fibonacci Channel is a practical technique that uses Fibonacci ratios to draw out levels of support and resistance, it is a variation of the Fibonacci retracement pattern, with the trend lines running diagonally rather than horizontally. It can be applied to both short-term and long-term trends, as well as to up and down trends.see chart below as an example.
 
As chart below shows, the Channels can be either upwards (rising Fibonacci Channel ) or downwards (Falling Fibonacci Channel ), and the lines are drawn using Fibonacci ratios, typically 23.6%, 38.2%, 50%, 61.8% and 80.9%.
 
 
Click an image to view at full size.


 
How does it work?
It helps to identify potential support/resistance as price moves towards to or along the Fibonacci Channel.
 
 
Features and inputs:
  • Range, it's the number of bars used to detect the highest and lowest price. The default value is 300 it means the indicator will plot the Fibonacci Channel based on the price range of last 300 bars.
  • This Fibonacci Channel indicator works on all timeframes
  • If you want to use different ratios other than the default ones, you can change them from input Level1 to Level4.
  • You can change the color of each level line, the Line1 is the bottom one and Line6 is the top one. Please use the following available colors: Black  Blue  Cyan  DarkBlue  DarkBrown  DarkCyan  DarkGray  DarkGreen   DarkMagenta  DarkRed  DarkYellow  Green  LightGray  Magenta  Red  White  Yellow
  • The highest and lowest level are auto detected and can't be changed.
  • Line style: you can enter from 1 to 5.
    1 is Solid like this: ______________________
    2 is Dashed - - - - - - - - - - - - - - - - - - -
    3 is Dashed ............................................
    4 is Dashed2 __ _ __ _ __ _ __ _ __ _ __
    5 is Dashed3 ___ _ _ ___ _ _ ___ _ _ ___ 





 


If there is not enough space on the right side of the chart, you may encount a situation as shown in the image above, the Fibonacci Channel may look like squeezed. All you need to do is drag the indicator along with the price bars to left side.
 
 
You can do this by selecting the "hand" icon on the top right of the MultiCharts toolstrip.

The Fibonacci Channel will become normal as shown in the image below after there is enough space on its right side.

 



 
 
 
Click an image to view at full size.

 
 



 
 

 

 

Write a review

Your Name:


Your Review: Note: HTML is not translated!

Rating: Bad           Good

Enter the code in the box below:



Welcome to Patternsmart
Converting your indicator from one platform to another.

Custom Alert, Autotrader, Indicators, Scan, Screener, Strategy and Signals.


 

Copyright @ 2018 Patternsmart - All rights reserved


This website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision. It's not recommended to use any single indicator as sole evaluation criteria. The companies and services listed on this website are not to be considered a recommendation and it is the reader's responsibility to evaluate any product, service, or company. patternsmart is not responsible for the accuracy or content of any product, service or company linked to on this website.

Futures trading contains substantial risk and is not for every investor.Please read the following risk disclosure before considering the trading of this product: Futures Risk Disclosure. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Trading stocks, options, futures and forex involves speculation, and the risk of loss can be substantial.Investor must consider all relevant risk factors, including their own personal financial situation, before trading. Trading foreign exchange on margin carries a high level of risk, as well as its own unique risk factors. Forex investments are subject to counter-party risk, as there is no central clearing organization for these transactions. Please read the following risk disclosure before considering the trading of this product: Forex Risk Disclosure. Spreads, Straddles, and other multiple-leg option strategies can entail substantial transaction costs, including multiple commissions, which may impact any potential return. Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Prior to trading options, you should carefully read Characteristics and Risks of Standardized Options.

patternsmart.com will not be held liable for the loss of money or any damage caused from relying on the information on this site. Any investment decision you make in your self-directed account is solely your responsibility.