I am working on my trading system and part of this system is what I call fibonacci extension levels. I know there is this tool within the amibroker program but I need to have a formula for that to integrate it with the rest of my code. What I exactly need is fibonacci three extension levels showing up on the chart while amibroker is running. The levels are: 61,8%, 100% and 161,8%.(theese are fibonacci numbers) I do not want to set this levels manually, I want it to be set automaticly, so that I can programm the system to take profit on one of those levels. I also want those levels to be visible on the chart. When there is the swing up the levels should appear up above the current price, and when there is a swing down, the levels appear below the price. My coding skills are basic but I was able to create code for first part of my system. All I need is basic formula for fibonacci extension. I searched the forum and the other sites and I could not find it.There is formula for fibonacci retracement but not extension. If I have this formula I will be able to intergate it with the rest of my code but creating formula itself for fibonacci extension is beyond my skills. Can anybody help me with this?
Welcome,Use Google search Fibonacci extension formula
Unfortnuatelly I still can not find it. I found fibonacci time zones, fibonacci retracements, fibonacci time extensions, but not fibonacci extensions (projections) whatever it is called. It is not that I did not do my reseach, I did it and I am stuck. I apreciate a quick link so I would bother no more.
now for your 61,8%