Fibonacci - Oanda vs MT4?!

Beginner Questions
#1

Hello traders! :slight_smile:

I have a quick questionā€¦

I use both Oanda and MT4 for demo trading, and I just noticed a ā€œstrangeā€ thing about Fibonacci Retracement tool on both platformsā€¦Please refer to the screenshots attachedā€¦

Both screenshots are taken today on EUR/USD daily charts.
As you can see on MT4 screenshot, the price just hit the 23,6% support line, but not on Oandaā€™s screenshot?! :confused:

Furthermore, on the Oanda there is a big gap between 23,6% and 0% lines, but on the MT4 there is a big gap between 61% and 100%. :confused:

Can someone please explain why there is that difference?

Thanks in advance and sorry for my English.

#2

Hint: Did you work the figures out to check which lines are
which?

#3

The pictures are too dark on my computer to see what you are trying to point out. I wonder if it is my computer, the net or your computer?

Anyway My first thought is that you may see a difference because you did not set your fibos at the same place. When drawing fibos, trend lines and channels I like to switch back to the line chart. It tends to erase the noise of the candle chart.

Also I have noticed that mt4 and oanda draw their fibos backwards from each other. With mt4 if you draw your fibo with the first click to the left and the second click to the right side of the graph you will get 100% on the bottom (drawing an up trend that is). With oanda the 0% line is on the bottom and that is way the gap is in a different positon.

Also oanda does not give you extensions. With mt4 you get extensions and you can add any #% that you want.

#4

Hi guys, thanks for the anwsers so far, but I am still confused.
I have attached some better screenshots, so you better can se the difference.

The Fibonacci was drawn at the same timeframe and the same way/direction.
But can you see the difference?

#5

The Fibonacci was drawn at the same timeframe and the same way/direction.
But can you see the difference?

This has been answered.

Also I have noticed that mt4 and oanda draw their fibos backwards from each other. With mt4 if you draw your fibo with the first click to the left and the second click to the right side of the graph you will get 100% on the bottom (drawing an up trend that is). With oanda the 0% line is on the bottom and that is way the gap is in a different positon.

Hint: Did you work the figures out to check which lines are
which?

Plus if you do the math for fibo you will see the discrepency.

So how can you now still be confused?