To create Nabil’s Projected Fibonacci Target in the NeuroShell Trader, select ‘New Indicator …’ from the ‘Insert’ menu and use the Indicator Wizard to create the following indicator:
Divide ( Sub ( Mult2 ( RATIO, A ), B ), Sub ( RATIO, 1 ) )
Where
A is the point where the first price swing started
B is the point where the first price swing ended (horizontal support/resistance)
RATIO is one of the following Fibonacci Ratios: 0.237, 0.382, 0.50, or 0.61.8
The values of A or B can be chosen to be constant price values or indicators. The constant values would be numeric prices based upon swing points visually identified on the chart. The indicators would be indicators which compute recent swing points such as Max(High,20), Min(Low,20) or more complex user created indicators.
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