* Fib Time Zone with Alert will draw a series of vertical lines on chart. They are spaced at the Fibonacci intervals of 1, 2, 3, 5, 8, 13, 21, 34, 55 and 89. Trader defined the zero line and the 1 line, then Fib Time Zone with Alert auto draw the rest and display alert when price touch the line. * Alert condition available in the Create Alert dialog box with title "Fib Time Zone Alert". * Line 0 was defined by Date, Month, Year, Hour, Minute (use Exchange Timezone). * Line 1 was defined by number of bars between Line 0 and Line 1. * Line 2,3,5,8,13,21,34,55 and 89 auto draw.
This looks excellent, one question though, what is the signifance of size (Bars), default value is 6. Thank you.
inno14
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@Mission2025, size (Bars) may be define by number of bar from 0 Line to nearest Swing High/Swing Low, or period of Time. By default this value equal 6 because i use period of time. At Monthly Tf it mean 6 months ~ 1/2 year, at Weekly Tf it mean 6 weeks ~ 1.5 month, at Daily Tf it mean 6 days ~ 1 week, at H4 Tf it mean 24 hours ~ 1 day, at H1 Tf it mean 6 hours ~ 1/4 day.
lifensunil
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@inno14, Great, great & great. Thank you. Now I am back testing and let you know the results. Thank you for the help.
dhalc2
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Hi. This is great - thank you for taking the time to create and post. Is it possible to add 144, 233, 377 etc?
lifensunil
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Also, how does alert works, I can see it doesn't alert for future time line, does it means it is not telling about top/bottom?
inno14
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@Mission2025, alert will work when price moving to the Fibo Time Line.
lifensunil
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@inno14, OK Great. One question, for most of the stocks, it is showing the same fib date at 34 retracement level. What is the reason behind it, this means overall market may have some trend change near that date? Thank you for the help.
inno14
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@Mission2025, I (we) canot guess and make sure what the market will action at that time, it only mean, I (we) must focus on the market, any action at that time maybe become a signal :)
lifensunil
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@inno14, Great! I have checked almost 50 charts and looks like it is showing some kind of action near each retracement time, specially after 13th. Thank you for creating great tool. I will keep in touch and once again, thank you for the help.