Fibonacci settings change

[lisamirt]

Is it possible to change the settings for the Fibonacci drawing (like I can change the parameters in MACD or Bollinger bands)?

I cant find a tutorial on it.

i'm still using the old platform (I find the new platform too confusing, sorry).

 

thanks

[Caseynotes]

7 hours ago, lisamirt said:

Is it possible to change the settings for the Fibonacci drawing (like I can change the parameters in MACD or Bollinger bands)?

I cant find a tutorial on it.

i'm still using the old platform (I find the new platform too confusing, sorry).

 

thanks

Hi, you'll need to switch to the new platform at some point as the old one will be phased out.

You can adjust the Fib parameters on the new platform by right clicking on one of the white drag points to bring up the edit pop up box (see pic).

You can change the colours but I don't think you can change the parameters on the old platform.

[Fletch]

It's not something I really use, or indeed place too much credence in, but I would guess not. The Fibonacci series is a fixed mathematical sequence. Anything that is based on it therefore has to follow that fixed sequence, otherwise it would just be an arbitrary line placed at some user-determined level. Don't take my words as gospel however. The TA aficionados have a liking for adding levels in (50%) even if they don't exist in the fibonacci sequences.

[Caseynotes]

24 minutes ago, Fletch said:

It's not something I really use, or indeed place too much credence in, but I would guess not. The Fibonacci series is a fixed mathematical sequence. Anything that is based on it therefore has to follow that fixed sequence, otherwise it would just be an arbitrary line placed at some user-determined level. Don't take my words as gospel however. The TA aficionados have a liking for adding levels in (50%) even if they don't exist in the fibonacci sequences.

by the timing you probably missed my post before posting your reply. It's a valid point, why change the settings but as you also point out one of the most respected, the 50%, isn't even a fib number. But the tool is a good and useful retracement and extension drawing tool and many do change the settings to, say, 40, 50 and 60% to use as a guide as to where to look for the end of a pullback. 

[Fletch]

1 minute ago, Caseynotes said:

by the timing you probably missed my post before posting your reply. It's a valid point, why change the settings but as you also point out one of the most respected, the 50%, isn't even a fib number. But the tool is a good and useful retracement and extension drawing tool and many do change the settings to, say, 40, 50 and 60% to use as a guide as to where to look for the end of a pullback. 

Yeh, I had already mostly written my post when you made your reply, so I just submitted it rather than waste the effort. From that pic it looks like you can change the levels to anything you like, though I would guess that like a lot of TA tools, it really only has a chance of working if you are basing your decisions on the same metrics that the rest of the market is using. As you can probably tell, I'm an investor rather than a trader, and I pretty much entirely base my decisions on fundamentals. Doubtless, if I was a trader then I would probably use these tools to a larger extent.

[dmedin]

There needs to be an option to include many more ratios.  If you look at people who use EWP they have ratios at 100%, 123, 136, 162, 186, 200, etc etc ... even on PRT you can't have as much ratio as you please ... give us more ratio, Horatio.  Hurrah!

[dmedin]

8 hours ago, Fletch said:

TA tools, it really only has a chance of working if you are basing your decisions on the same metrics that the rest of the market is using.

Apropos of which, I'll say it again: IG's 'exclusive' Sunday candlestick totally f*cks up all the technical indicators and puts them all out of sync with what everyone else is using.  Doesn't matter how big IG is, the majority of market participants are not using IG's 'exclusive' sh!tty Sunday candlesticks!!! 

[lisamirt]

15 hours ago, Caseynotes said:

Hi, you'll need to switch to the new platform at some point as the old one will be phased out.

You can adjust the Fib parameters on the new platform by right clicking on one of the white drag points to bring up the edit pop up box (see pic).

You can change the colours but I don't think you can change the parameters on the old platform.

Thanks your instructions were great. I did manage to do it on the new platform. I was hoping that it would then automatically save it for the old platform too but it didnt. Seems like it does the reverse only - my MACD and Bollinger parameters in the old platform automatically show on the new platform.

I tried using the new platform again this morning. I really dont like it and is cumbersome to use and I cant find the function to widen or narrow the chart view as in the old platform. So I'll keep using it until they take it away from me.

[Caseynotes]

5 hours ago, lisamirt said:

Thanks your instructions were great. I did manage to do it on the new platform. I was hoping that it would then automatically save it for the old platform too but it didnt. Seems like it does the reverse only - my MACD and Bollinger parameters in the old platform automatically show on the new platform.

I tried using the new platform again this morning. I really dont like it and is cumbersome to use and I cant find the function to widen or narrow the chart view as in the old platform. So I'll keep using it until they take it away from me.

You're welcome, to change chart size on the new platform just click reduce then drag and drop the borders or corners to any size and you can set up multiple charts side by side.