how to apply fibonacci fans and auto FibFans study

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Fibonacci Speed and Resistance Fan is an analytical drawing tool used to indicate the support and resistance levels of an existing trend and the price level at which possible changes in the trend may occur.

A Fibonacci Speed Resistance Fan consists of a trend line drawn between two extreme points - a trough and opposing peak or a peak and opposing trough - on which a set of sequential speed resistance lines are drawn above (which represents time) and below (which represents price). These lines are drawn based on time/price percentages of the distance between the beginning and the end of the trend line .

Speed resistance lines not only help to measure trend corrections but also measure the speed of a trend (the rate at which a trendline ascends or descends)

Traders can use the lines of the Fibonacci Speed and Resistance Fan to predict key points of resistance or support, at which they might expect price trends to reverse. Once a trader identifies patterns within a chart, they can use those patterns to predict future price movements and future levels of support and resistance . Traders use the predictions to time their trades

Nobody appears to know whether Fibonacci tools work because markets exhibit some form of natural pattern or because many investors use Fibonacci ratios to predict price movements, making them a self-fulfilling prophecy. In any event, key support and resistance levels tend to occur frequently at the 61.8-percent level (0.618) on both uptrends and downtrends

Fibonacci Speed and Resistance Fans vs. Gann Fans
Gann fans are another form of technical analysis based on the idea that the market is geometric and cyclical in nature. A Gann fan consists of a series of trend lines called Gann angles.
Instead of relying on Fibonacci's golden ratio of 1.618, Gann believed the 45-degree angle (geometric angles of time versus price) to be most important. The Gann fan subsequently draws additional angles at 82.5, 75, 71.25, 63.75, 26.25, 18.75, 15, and 7.5 degrees. These angles are superimposed over a price chart to show potential support and resistance levels

Step By Step Applying Fibonacci Speed and Resistance Fan

Some interpretation examples:

Example of how to identify if the move is Reversal or Retracement

All the above are now available with the Auto Fibonacci Speed and Resistance Fans Study ʙʏ DGT ☼☾,

LINK to Auto Fibonacci Speed and Resistance Fans Study


100 coins
+2 Reply
dgtrd sandyrindal
Thank You @sandyrindal, i am glad if i was able to contribute
Very nice educative walk through; thank you so much for the posting <3
+2 Reply
dgtrd ICEKI
Thank You @ICEKI, i am glad you enjoyed it
WHY DO ORGANIC CREATURES NEED SLEEP ? Why can't I just NOT HAVE TO SLEEP ? Study and apply these beautiful systems ! sublime work ! lol, sorry
+1 Reply
dgtrd rapturereaper
:) @rapturereaper, I am all the same :), reading reasearching coding tesing trading no time to sleep :)

so gald to to hear those kind words, thnak you
+2 Reply
Resistance fans are hugely flawed unlike fib retrace also there are no invisible resistances they are previous highs/lows and ternds as resistance it's really not a useful tool. Fib retrace though is great. But if I were you I'd look into it more.
dgtrd DigitalData
hello @DigitalData, thanks for commenting, i do assume you probably tested in log scale where you may observe different behaviour in non-horizontal lines, would you please mind confirm if it is the case.

Testing the drawinging accuracy of the auto version was performend with the manualy drawing tool and they perfectly match in linear scale chart

You have the ability to choose historical pivot highs/lows as well as devation input parameter to get higher timeframe values

"there are no invisible resistances they are previous highs/lows" do you mean this is feature that has to be there but not, i will be glad if you can present an example chart with the manually drawing tool similating the requirement

the only difference between the manual drawing tool and this automated version is that the time levels that corresponds in the future of time are not allowed.

This is amazing work. Thank You.
dgtrd skogul
thank you @skogul, i am glad you like it :)
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