Fibonacci Trend-Based Time Lines

From MultiCharts
Jump to: navigation, search

Fibonacci Trend-Based Time Lines is an analytical drawing tool used to predict the future price movements and examine the support and resistance levels as well as price breakouts. It is represented by a series of vertical lines at date/time levels that shows probable price corrections in an existing trend. First, a trend line is drawn. Depending on its length and direction, vertical lines are drawn based on the selected distance percentages or on the Fibonacci percentages.

Support indicates a low or series of troughs where price activity has not penetrated. Resistance indicates a high or series of peaks where price activity has not penetrated.

Inserting Fibonacci Trend-Based Time Lines

  1. Select one of three ways to insert the Fibonacci Trend-Based Time Lines:
    • In the menu select Insert, point to Drawing and then to Fibonacci Tools and click Trend-Based Time Lines.
    • Click the Fibonacci Trend-Based Time Lines Drawing FibTimeBasedTimeLines.png icon on the Drawing toolbar.
    • Click the arrow next to the Drawing Tools Show Hide Drawing Tools.png icon on the Main toolbar, point to Fibonacci Tools and select Trend-Based Time Lines.
  2. The cursor will change to the Fibonacci trend-based time lines FibTimeBasedLines pointer.gif.
  3. In the Chart Area click where the Fibonacci Trend-Based Time Lines are to begin.
  4. Then keeping the left mouse button pressed move the pointer up, down, left, or right to position the Fibonacci Trend-Based Time Lines.
  5. Release the button.

Moving Fibonacci Trend-Based Time Lines

To move the Fibonacci Trend-Based Time Lines without changing the shape of the drawing tool:

  1. Point the cursor at the Fibonacci Trend-Based Time Lines to move the drawing tool.
  2. The cursor Pointer Pointer.png will change into Hand Hand.png.
  3. Then keeping the left mouse button pressed drag the drawing tool to the desired position.
  4. Release the button.

Reshaping Fibonacci Trend-Based Time Lines

To reshape the Fibonacci Trend-Based Time Lines (change the slope of the trend line or the distance between the Trend-Based Time lines):

  1. Point the cursor at the Fibonacci Trend-Based Time Lines to reshape the drawing tool.
  2. The cursor Pointer Pointer.png will change into Hand Hand.png.
  3. Left-click the Fibonacci Trend-Based Time Lines and 2 small square will appear at both ends of the trend line.
  4. Drag one of these till the drawing tool becomes of the desired shape.
  5. Release the button.

Formatting Fibonacci Trend-Based Time Lines

In MultiCharts one can change the settings of the Fibonacci Trend-Based Time Lines. All the changes are performed in the Format Fibonacci Trend-Based Time Lines window.

Each instance of a Fibonacci trend-based time lines has its own Format window. The number (if there are 2 or more Fibonacci trend-based time lines instances in the same Chart Window) are shown in the titlebar of each Format Fibonacci Trend-Based Time Lines window.

One can change the settings of the Fibonacci Trend-Based Time Lines: the color, style and weight of the trend line and time lines (up to 11 lines are available). It is possible to specify the desired distance percentages on which the Trend-Based Time lines are based or the Fibonacci percentages can be used. One can also choose to show or not the labels (price or/and value), select their font, style, size and the character set. It is possible to apply the strikeout or underline effects to the labels. Labels can be oriented vertically or horizontally. If shown the labels can be displayed at the top, bottom or in the middle of the Trend-Based Time lines, horizontally or vertically. It is possible to specify the time and price coordinates.


Setting Style

  1. Access the Format Fibonacci Trend-Based Time Lines window.
    To access the Format Fibonacci Trend-Based Time Lines window:
    1. Drag the cursor to the Fibonacci trend-based time lines instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then double-click.
    Or
    1. Drag the cursor to the Fibonacci trend-based time lines instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Fibonacci Trend-Based Time Lines'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Fibonacci trend-based time lines instance that is to be formatted and press the Format… button.
  2. Select the Data tab.
  3. To display or hide any elements of the Fibonacci Trend-Based Time Lines check or uncheck the corresponding check boxes.
  4. In the Price column select the corresponding cells and enter the desired values. These values determine the distance between the Trend-Based Time lines.
  5. In the Color column, using the drop-down lists, select any of the preset 40 colors for the lines or click the Others… button to select the custom colors.
  6. In the Style column, using the drop-down lists, select the desired styles for the lines.
  7. In the Weight column, using the drop-down lists, select the desired weights for the lines.
  8. Check the Use as Default check box to use these settings as the default settings when creating other Fibonacci Trend-Based Time Lines.
  9. Click OK.


Setting Labels

  1. Access the Format Fibonacci Trend-Based Time Lines window.
    To access the Format Fibonacci Trend-Based Time Lines window:
    1. Drag the cursor to the Fibonacci trend-based time lines instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then double-click.
    Or
    1. Drag the cursor to the Fibonacci trend-based time lines instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Fibonacci Trend-Based Time Lines'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Fibonacci trend-based time lines instance that is to be formatted and press the Format… button.
  2. Select the Labels tab.
  3. Check or uncheck the Show Labels check box to display or hide the labels.
  4. Enter the desired font in the Font field or select it from theFont list.
  5. Enter the desired font style in the Font Style field or select it from the Font Style list.
  6. Enter the desired font size in the Size field or select it from the Size list.
  7. In the Effects group check or uncheck the Strikeout or/and Underline check boxes to display the labels struck out or/and underlined.
  8. From the Character Set drop-down list select the desired character set.
  9. From the Align drop-down list select the desired type of the labels' alignment.
  10. From the Orientation drop-down list select the desired orientation to display labels horizontally or vertically.
  11. Check the Use as Default check box to use these settings as the default settings when creating other Fibonacci Trend-Based Time Lines.
  12. Click OK.


Setting Coordinates Precisely

  1. Access the Format Fibonacci Trend-Based Time Lines window.
    To access the Format Fibonacci Trend-Based Time Lines window:
    1. Drag the cursor to the Fibonacci trend-based time lines instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then double-click.
    Or
    1. Drag the cursor to the Fibonacci trend-based time lines instance that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Fibonacci Trend-Based Time Lines'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Fibonacci trend-based time lines instance that is to be formatted and press the Format… button.
  2. Select the Properties tab.
  3. In the Coordinates section enter the desired time coordinates in the Start Date and End Date fields or use the drop-down calendars.
  4. In the Coordinates section enter the desired price coordinates in the Start Value and End Value fields.
  5. Click OK.