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Description |
This formula renders a horizontal line at the any percentage you specify. The default is 50. |
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Formula |
FibLevel(INPUT, Periods=262, Days=1, FibPercentage=0.50)=begin thisHigh = FibHi($1, Periods, Days) thisLow = FibLo($1, Periods, Days) retval = thisLow + (FibPercentage * Diff(thisHigh, thisLow)) end |
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Parameters |
INPUT The INPUT directive makes this formula available as a Formula Overlay. INPUT refers to the instrument in the chart. INPUT does not become an overlay parameter.
Periods This parameters specifies the number of bars to evaluate in determining the high price of a Fibonacci retracement. If the Days parameter is set to 1, this parameter represents daily bars. The default is 262, an approximate number of business days in a year.
Days This formula calls the Chart() function. This parameter specifies the number of days per bar in the Chart() call. The default is 1, or 1 day.
FibPercentage This parameter specifies the retracement level. The default is 0.50 and arguably should not change. |
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Return Value |
The price at the level you specify. |
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Examples |
See Fibonacci. |
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Comments |
NA |
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