This is my first post. I gotten so much from this site over the years and wanted to provide a copy of a Fib indicator that I've been using for years. While the theory some what correct its application makes me want to cry.

Basics of fibs surrounds AB = CD.

Example: Choose the highest or lowest point on your chart. Timeframe doesn't matter. Lets say we choose highest point. Basic 2 candles to left and 2 to right at the higest point (This is A = 100).

From there you are not going to the next lowest point on the chart thats just crazy. Next you plot B / 0 point at the next low that has again 2 to left and 2 to right higher.

This is your AB leg. The retracement starts a 0 and triggers the 23.6, 38.2, 50, 61.8, 78.6, 86 or 100. This creates your C. This is entry in the market and exit at the D and this dependent on how deep the retracement is.

The D (-11.8, -27, -38.2, -61.8, -100) or far as your heart is content. Pullbacks to the 38, 50, 61 target is -61.8 OR other levels depending of depth of retracement.

So in easy steps A to B pullback to C profit at D then C becomes the new A and D becomes the new B and the hunt continues. The AG Fib I added the additional lines in code myself. Still working on alerts at 38, 50 and 61.8.

Im not coder but I can follow it pretty well and add things I need but alarms i havnt figured out yet.