I use MetaTrader ( demo account at fxopen ). When i drawn a Fibonacci , i only have some Retracement Levels
23.6, 38.2, 50,0, 61.8, 76.4, 100, 161.8 , 261.8.
Im sure the way they are drawn seems fine if your used to using meta trader, but believe me, they are drawn opposite from every other trading software.
I’ve used other non mt4 platforms, and seen charts from other platforms…seemed pretty much the same. You draw from point A to point B…it calculates the fib levels in between and outside the range…what’s backwards about that
In Mt4, If you want to place fibonaci retracements on an uptrend, you have to click from the high point to the low point, opposite from other platforms. Thats all I meant.
When I draw fibs on an uptrend in MT4, I draw from the low to the high. The low is 100%, the high is 0%. Then as price retraces down, it goes down thru the levels…23, 38, 50, 62, 78… back to 100% retracement which is the low. I don’t understand why you think you have to draw from the high to the low…
I switched into windows and ran mt4 to check this, and you are absolutely right, and I apologize for insisting otherwise. Needless to say, it has been a long time since I have used this program, and for some reason I had remembered that there was a glitch in the Fibonacci retracements even though there are none.
I don’t know but I agree it’s backwards. However I suppose the reasoning is that 127% does come after 100%…lol. What I’ve done instead is customize the fib tool by putting a minus sign in front of the extension number…, and it puts the 127% line beyond the 0.
Actually I have all the extension levels plotted on either side of the 0 & 100%, so no matter which way I draw the fibs, the extension levels are there
However, I have no interest in your people’s penny stock tips, so if you could kindly ask the Head Cheese over in that part of the world to stop with the spamming nonsense, I’d appreciate it.
Hang on a sec…
I’m running MT4 with "Go Trader"
And the whole Fib thing has been throwing me because of this EXACT problem! If in an uptrend, I have to draw from the HIGH to the LOW to get the extensions to extend ABOVE the HIGH… (naaawatimsayin)
It IS backwards! Can anyone confirm this or explain what the deal is?? Because its been a pain as a newbie having this issue…
I draw from a HIGH to a LOW and then my Fib numbers run from smallest at the bottom of the graph (bull-trend) to 100% at the top of the swing, then on to the extensions…