Fibonacci Extensions (measured moves)

[nasdorq]

Some chart platforms allow for fibonacci extensions, which allow traders to plot measured moves (100% extensions).

The drawing is like the retracement, where you click point A (beginning of move) and hold while you drag and let go at point B (end of move).  But from there, you click on the point of the pullback (point C), and then the desired extensions are plotted.

 

Also, this is unrelated, but an option to have indicators and/or trendlines be able to appear behind bars/candles might appeal to some users.

[Mike Medved]

nasdorq: the annotations (trendlines included) have a "Show Behind Chart" option when you edit them.

 

Also - about fib. extensions - I know of them as the above-100% values for fib. retracements (which you can do in MT).  Can you point me to some URL describing what you have in mind?

[nasdorq]

https://www.dailyfx.com/forex/education/trading_tips/post_of_the_day/2013/12/09/How_to_Use_Fibonacci_Expansions.html

 

My apologies, I got my terminology wrong.  You are right, extensions are based on the same 2 points used in calculation retracements.  What I meant was expansions.  In case you're not familiar with them, here is a link that describes it.  In the 1st chart you can see the move from points 1 to 2, and the pullback being point 3.  The 2nd chart shows the projected targets based on fibonacci numbers from point 3.  The Profit Target #2 is 1.000 (100%) and equals the move from point 1 to point 2, which is then added to point 3.

[Mike Medved]

Fib Expansions will be added to chart annotations in next release.