Are Fibonacci Retracements/Extensions Programmable indicator

[ThemBonez]

Hello,
I would like to create Fibonacci Time Retracements/Extensions (as opposed to price ret/exts), but Fib rets/exts are not like other indicators in that Other indicators tend to take existing data and graph it in some way automatically while Fib rets/exts require input such as the drawing of diagonal lines from low to high and choosing ratios to use. How would I use Indicore SDK for such an indicator.
Thank You

[Nikolay.Gekht]

Fibonaccy time retracements exists in the latest release of the marketscope. What is wrong in the default implementation you would like to change?

[ThemBonez]

Thank you for your response.
What I cannot do on with this indicator is set ratios such as 1.326, 1.618, etc.

[Nikolay.Gekht]

Hm... the numbers you have specified is just a relation between fibonacci numbers which are used to generate time levels (1, 1, 2, 3, 5, 8, 13, 21...).

So, in fact, this is rather the question of the levels presentation than algorithm. If you compare the time retracement with price retracement, you will see that the difference is the following:

for time you selects the length between first pair, but for prices you chooses for the whole range which will be split. I think that this presentation different could be easier solved on the level of fib. command rather than inventing the alternative way. I got you problem and will discuss this with the business users.

[ThemBonez]

Im using a specific time projection strategy as proposed by Robert Miner in his book High Probability Trading Strategies that uses a number of different time fib ret/ext's that the time zones do not fulfill.. I need to be able to specify different ratio combinations and draw diagonals along various trends. So the time zones dont fulfill that need. A time fib ret/ext just like the oprice ret/ext's but based on number of bars or candles in the timescale would fulfill it.
Thank you

[ThemBonez]

Hi
I just found the ruler function. I can make it work with this. I measure the number of the bars, do some manual calcs with the ratios and mark it on the chart and I have my time projections. alittle bit manual but not to bad. I think this will work for me.
Thanx
Barry

[ayatullah]

Hi all

I know ThemBonez maybe be satisfied with doing the calculations manually but I would really appreciate it if someone can come up with a solution to this. I know for a fact that you can doing fib extensions on MT4 but I'm not sure about time retracements.

If you want more information about how they are used I'll be happy to hunt for information for you?

[sunshine]

Do I correctly understand that you want to set decimal ratios for Fib Time Zones, such as 1.326, 1.618, etc.?

[mgammal]

Yes, exactly, Sunshine.. Would you be able to make that indicator please?

[sunshine]

Hi mgammal,

This feature will be available for the Fibonacci Time Zone tool in the next release of FX Trading Station/Marketscope.