What it does
Measures the retracement values from an original set of points (low to high) to apply at a third point. Default ratios in CQG: 0.000, 0.250, 0.382, 0.618, 0.750, 1.000, 1.618, 2.618, 4.250, and 6.850.
How to use it
1. Right-click the chart, point to Pointer Tools, point to Fibonacci, then click Extension. The cursor is displayed as a set of lines labeled EXT.
2. Click the chart to establish the zero point.
3. Click a second time in the chart window. The difference between the 1st and 2nd lines defines the 100% difference.
4. Click a third time within the chart window.
The chart displays the values for the ratios according to the scale based on the difference of the first two lines using the designated click as the new base.
Fibonacci Extensions parameters
FE1:FE1
|
Parameter |
Description |
|
Value |
FE1 Value: Determines the first value selected for the FiboE. The user may enter a value or choose to attach to the Open, High, Low, or Close. FE2 Value: Determines the second value selected for the FiboE. FE3 Value: Determines the location of the system defaulted scale line of 0.000 followed by the positioning of the other defaulted FiboE lines. |
|
Date |
Defines the date of the reference bar. |
|
Time |
Defines the time of day for the reference bar. This applies to intraday use. |
|
Display |
Determines the direction and length of the line. Options include: Pnt1-Pnt2 -> (from point one and all the way right) <- Pnt1-Pnt2 (from point two and all the way left) Pnt1-Pnt2 (between points one and two) <- Pnt1-Pnt2 -> (all the way left and all the way right) Pnt2 -> (from point two and all the way right) <- Pnt1 (from point one and all the way left) |
|
Id |
Turns on and off the labels and determines their location. |
|
IdWt |
Select normal or bold for thickness of ID. |
|
UseLog |
UseLog is applicable only when using charts set to logarithmic scales under scale type. When UseLog is selected, the Fibonacci retracements calculate percentage retracements based on the log scale, not the linear scale. For example, a 50% retracement of a move from 300 to 500 using a linear scale is 400. Using the log scale the 50% retracement of a move from 300 to 500 is 387.30. |
|
ScaleLabel |
Select this checkbox to color-code the price scale according to the trend line. |
FE1:FE2
|
Parameter |
Description |
|
Value |
FE1 Value: Determines the first value selected for the FiboE. The user may enter a value or choose to attach to the Open, High, Low, or Close. FE2 Value: Determines the second value selected for the FiboE. FE3 Value: Determines the location of the system defaulted scale line of 0.000 followed by the positioning of the other defaulted FiboE lines. |
|
Date |
Defines the date of the reference bar. |
|
Time |
Defines the time of day for the reference bar. This applies to intraday use. |
FE1:FE3
|
Parameter |
Description |
|
Value |
FE1 Value: Determines the first value selected for the FiboE. The user may enter a value or choose to attach to the Open, High, Low, or Close. FE2 Value: Determines the second value selected for the FiboE. FE3 Value: Determines the location of the system defaulted scale line of 0.000 followed by the positioning of the other defaulted FiboE lines. |
|
Date |
Defines the date of the reference bar. |
|
Time |
Defines the time of day for the reference bar. This applies to intraday use. |
|
Display |
Opens display parameters: Color = Select color of line. Weight = Select thickness of line. Scale = Adjusts the default ratios for placement of lines. Display = Select the check box to show the circle on the chart. Base = Determines at which point a particular value should be displayed: 1, 2, or 3. |