Is fibonacci extension and expansion the same thing?

[haris24]

I have been using mt5 but instead of fibonacci extension there is fibonacci expansion i was wondering if they are the same thing and also how can i add fibonacci extension to the mt5?
thanks

[Clint]

@haris24

… instead of fibonacci extension there is fibonacci expansion i was wondering if they are the same thing …

You will find your answers in this post from 16 months ago —

Is the fibonacci expansion the same as the fib extension levels?

Fibonacci extension and fibonacci expansion are opposites. A fibonacci extension goes in the same direction as an ordinary fibonacci retracement. That is, it’s an extension of the fibonacci retracement. A fibonacci expansion goes in the direction of the original price move (before the retracement). It projects probable price levels in the event of a continuation of the original move. Pictures will make this easier to understand. (Click the images to enlarge them.) [- 1] [- 2] [- 3] […

[haris24]

thank you that helped so much, but metatrader 5 does not contain fibonacci extension i was wondering if you know how to add fibonacci extension to mt5 or maybe your suggesting any other trading platform im new to trading.
thanks for the help much appreciated.

[Clint]

thank you that helped so much, but metatrader 5 does not contain fibonacci extension
i was wondering if you know how to add fibonacci extension to mt5 …

In my MT5 platform, fibonacci extension is built into the fibonacci retracement indicator.

That is, when I pull a fib from A to B, I get the retracement levels from B (zero retracement) back to
A (100% retracement). And, beyond A (continuing in the direction of the retracement), I get the 161.8%, 261.8%, and 423.6% extension levels.

Apparently, those extension levels are the default levels included in MT5 in its right-out-of-the-box configuration. (I don’t use MT5 in trading, and I have not changed any of the MT5 indicator inputs.)

Maybe your MT5 platform is loading the extension levels, but you can’t see them, because they are above (or below) the top (or bottom) edge of your chart. Compress the vertical axis of your chart, and see what appears.