Fibonacci Expansion calculation?

Forums ProRealTime English forum ProBuilder support Fibonacci Expansion calculation?

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  • #117372

    I’m trying to create the Fibonacci Expansion (Projection) code, the same as the one inbuilt to PRT that I can use in a strategy but I’m unsure how it is calculated.

    So, for projection of a long market, take Point 1 up to Point 2 up to point 3 to project levels beyond.

    Does anyone know the formula, I can’t seem to find it elsewhere.

    Thanks

    Rob

    #117384

    Take the range from high to low and multiply it by the Fibonacci ratio, then add this result to the low.

    Examples:

    Daily Fibonacci Percent

    ZigZag Fibonacci levels

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