FourXXXX wrote: Wed Nov 03, 2021 11:37 am Fibo Extensions at work, TP @ 200%. The Orange ZZ turned up at the low also.

FourXXXX wrote: Wed Nov 30, 2022 5:10 pm DAX and Hang Seng that I trade often turn around at the 61.8 Fibonacci extensions. This is why I have put the dotted lines across the chart at these levels.

Leg B is 61.8% of leg A.

FourXXXX wrote: Sat Apr 01, 2023 7:41 am They are Fibonacci Extensions, do a search on Youtube there are videos giving in-depth explanations. The green 61.8 level is very likely to have a retracement or trend change.

FourXXXX wrote: Mon Oct 18, 2021 4:41 pm Some of you may find this indicator useful that I have been working on. It is not based on Xard's rules, just on the ZZ.

Feel free to offer improvement suggestions.

I just realized the extension values will change once a new ZZ draws so I will need to add another set of levels.

It draws 2 lots of Fibonacci levels based on the ZZ swings. The first levels are standard Fibs for retracements. The second lot is extension levels based on the second last ZZ leg which are used for take profit.

The settings are correct for M5, if you want to use it on M15 change Extdepth to 36.

FourXXXX wrote: Thu Oct 21, 2021 1:39 pm Here is an example of the Fibo Extensions Indicator doing its job.

The market turned around at 100% of A-B in other words AB=CD, but it could happen at other numbers as well. What you will see though is that the Fibonacci numbers just keep appearing over and over.

What I have shown here is that A-B is shown by the green percentage levels in relation to the current ZZ leg. These numbers show where to take profit, if the market goes through these levels like a freight train, look to the next level as to whether it will stop there. Another approach is to set your TP at perhaps 61.8% as a safer option. This 61.8% number does come up a lot, it may not be the end of the current trend direction but could be a retracement.

The white percentages D-C is the retracement from D of the last ZZ leg, smaller numbers here indicate the trend is likely to continue in the direction of D.

B-C Aqua percentages is showing the retracement from D based on the last B-C leg. This could be a retracement or where the continuation of the trend could go to.

Of course, all these ABCD numbers will flip the other way in an uptrend. Just look where 0% is and work from there.