Fib Extensions


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  • #1001
    Jay Marcus
    Participant

    Hi Rich,

    You show the settings for the Fib retracement levels, but for the Fib extensions the settings that I have found I need to use are negative numbers – otherwise the extensions are in the wrong direction.

    So all the Fib settings, levels descriptions, are:-

    0  =  0

    0.382  = 38.2

    0.5 = 50

    0.618 = 61.8

    1 = 100

    -0.382 = 138.2

    -0.618 = 161.8

    -1 = 200

    -1.618 = 261.8

    This is what works on my MT4.

    Cheers,
    Jay.

    #1009
    Rich FittonRich Fitton
    Keymaster

    Hi Jay,

    Great tip!

    If anyone has been scratching their head over fib extensions…

    When you draw your fib extensions they are going out beyond the 0% line, so to have them paint in the right place you’d need to input them as minus values in the fib settings box on MT4 (I’ve attached a screengrab so you can see what Jay means).

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