Fibonacci Expansion tool live

Optuma Forums Optuma Feature Requests Fibonacci Expansion tool live

  • This topic has 4 replies, 3 voices, and was last updated 1 day ago by David.
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  • #65995
    David
    • Topics: 4
    • Replies: 7
    • Posts: 11

    Hi,

    Would there be any way to make the Fibonacci Expansion tool live?
    For example, when using it to find a 100 percent level of a prior swing
    below a high, the level will automatically adjust up as the chart makes
    new highs.  So in this way it could be used as a sort of trailing stop.
    (The way the ‘Moving Retracement’ tool does.)

    #66025
    Mathew
    • Topics: 40
    • Replies: 1,997
    • Posts: 2,037

    Hi David,

    You could do that with a simple script based on one of the swing types (Gann, Point, Percent, Volatility etc).

    Search the forum for Gann Swings as there are many examples of how you could do it.

    All the best

    Mathew

    #66043
    David
    • Topics: 4
    • Replies: 7
    • Posts: 11

    Hi Matthew,
    Thankyou for telling me it is possible.  I came up with this.  It works.
    I’m using it as a “Show Plot”.  Is this the best way to do it?
    Also, would there be any way to have the option of just showing
    the most recent occurrence?

    –Thanks again,
    David

    #66045
    Matthew
    • Topics: 5
    • Replies: 421
    • Posts: 426

    Hi David,

    The script looks good.  With regards to your second query, you can wrap the V1 line around a LAST() function, this will have the line plot only the latest value (like a Horizontal Line).

    • This reply was modified 1 day ago by Matthew.
    #66057
    David
    • Topics: 4
    • Replies: 7
    • Posts: 11

    I didn’t know about the Last Function.  Thanks again.

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