What it does
Fibonacci Time Zones are a series of vertical lines that mark the bars at Fibonacci intervals of 3, 5, 8, 13, 21, 34, etc. CQG does not display the first two time zones that correspond to Fibonacci numbers 1 and 2.
The vertical lines of this pointer tool indicate times in which major price movement can be expected.
How to use it
1. Right-click the chart, point to Pointer Tools, point to Fibonacci, then click Time Zones.
2. Click to establish the beginning point. The time zone lines are drawn on the chart at the Fibonacci intervals. The time zone lines can still be moved, but will maintain their distances from each other. This anchors the time zones.
3. Click again to draw the Fibonacci Time Zones.
4. When the lines on the chart are where you want them, click to park them.
Fibonacci Time Zones parameters
|
Parameter |
Description |
|
Color |
Select color of line. |
|
Weight |
Select thickness of line. |
|
Date |
Defines the date of the reference bar. |
|
Time |
Defines the time of day for the reference bar. This applies to intraday use. |
|
SinglePane |
Makes the bars where the vertical lines are hidden. If it is not selected, the bars are shadowed. |
|
ScaleLabel |
Select this checkbox to color-code the price scale according to the trend line. |