FPI + Fibonacci = Triangular FM Pivots
Posted: Wed Mar 19, 2008 2:59 pm
I originally posted this on TSD then ND burried it in some old piv thread. So I'm putting it here for discussion, where it belongs in the first place.
This is a combination of Triangular price calculation and Fibonacci retracement levels. The levels can be deadly accurate, especially when they overlap a key fib or pivot point.
How are they calculated?
The IND searches for triangular rings containing the chart symbol. It then calculates the new pivot levels based on the 0% and 100% fibonacci retracement levels of the remaining two symbols using the 1=(a/b)*(b/c)*(c/a) formula.
Why does it work?
FM
This is a combination of Triangular price calculation and Fibonacci retracement levels. The levels can be deadly accurate, especially when they overlap a key fib or pivot point.
How are they calculated?
The IND searches for triangular rings containing the chart symbol. It then calculates the new pivot levels based on the 0% and 100% fibonacci retracement levels of the remaining two symbols using the 1=(a/b)*(b/c)*(c/a) formula.
Why does it work?
FM