Fibonacci Time Projection


Fibonacci Time Projection
Fib. Time Projection is a drawing tool with a calculation function. You as the user define two anchor points at extremes, i.e. either high or low points in the chart.

The Fib. Time Projection then extends the distance between the two anchor points in the time line with a number of vertical lines. The lines are calculated by multiplying the distance between the anchor point with the Fibonacci numbers. The result is a number of projection lines that can be useful for finding swing points in charts.

Fib. Time Projections may be used for:
  • finding possible swing points
  • finding time aims for current price movements
You can find the tool in the Chart Tools group in the toolbar.

Entering Fibonacci Time Projection

  1. Open a symbol chart.
  2. Click on the Fib. Time Projection tool in the toolbar.
  3. Click into the chart on a high or low point to set the first anchor point.
  4. Keep the mouse button pressed and move the pointer to another high or low point of a similar price level in the chart. Release the mouse button.
In a time projection, the Fib. lines are drawn to the right of the anchor points. The vertical position of the anchor points can be changed without effect. Only the distance between the anchor points is important.

For extrapolating values beyond the 100% level, you can set the corresponding lines to visible (e.g. for 138.2% and 161.8%). To do so, select the check boxes in the property inspector in the toolbar.

Editing Fib. Time Projection

  • To move the anchor points, click on the respective point (the mouse pointer changes into an x-y axis symbol) and move it. The line positions will be adapted accordingly.
  • To move the Fib. Time Projection, drag it with the mouse (the mouse pointer turns into a hand symbol) and move it freely. Release the mouse button when done.
  • You can edit the ratio of each Fib. line in the retracements. To do so, click on the numbers next to the check boxes (in the properties) and enter new values.
  • You can duplicate the Fib. Time Projection by double-clicking on it.
  • When the Fib. Time Projection is selected, you can edit the properties in the toolbox.
  • To delete the Fib. Time Projection, right-click on it and select Delete from the context menu. Alternatively, select the Fib. Time Projection and press the DEL key.

Properties

Fib. Time Projection Properties

% 1, % 2... - Select from the list of available Fib. levels the ones you want to display. You can edit the values by clicking on the numbers to the right of the check boxes and entering new ones.

Graphic Properties

The following properties can be set for the Fib. Time Projection tool:

Color - Here you can select a line color.

Width - Here you can set a width for all lines by entering a number.

Style - Here you can select a line style, e.g. solid or dotted.

Label Placement - Here you can set whether and where the value labels for the lines will be displayed, bottom or top.

Show Guide Line - Here you can select whether the guide line (the line connecting the two anchor points) is to be visible or hidden.