Do you know we have other kind of #Fibonachi tool that work base of time not price ?
Yes this indicator name is #Fibo base Time or #Fibo Time Zone or #Fibo Time Extention.
Yes this indicator wok base of time not price, and work according to 3 time , to draw fibo vertical times on future.
Are you interesting in use it ? continue this content to learn more
Simple Introduction :
Fibonacci Time Zones are vertical lines based on the Fibonacci Sequence. These lines extend along the X axis (date axis) as a mechanism to forecast reversals based on elapsed time.
A major low or high is often chosen as the starting point. Distances start relatively small and grow as the Fibonacci Sequence extends.
Chartists can extend the Fibonacci Time Zones into the future to anticipate potential reversal points.
You can find this indicator by these names via google search "Fibo Base Time, Fibo Time Zone, Fibo Time Extention "
How Does Fibo Base Time Indicator draw Vertical Lines as fibo time line on chart :
Basic Definitions Of Fibo Base Time As More Info
- Fibonacci time zones are vertical lines that represent potential areas where a swing high, low, or reversal could occur.
- Fibonacci time zones may not indicate exact reversal points. They are time-based areas to be aware of.
- Fibonacci time zones only indicate potential areas of importance related to time. No regard is given to price. The zone could mark a minor high or low, or a significant high or low.
- Fibonacci time zones are based on the Fibonacci number sequence which gives us the Golden Ratio. The ratio is found throughout nature and architecture.
Fibonacci times zones are vertical lines that represent future time periods where the price could make a high, low, or reverse course.
Fibonacci retracements indicate areas the price could pull back to off a high or low.
Retracements are price-based and provide support or resistance areas based on Fibonacci numbers.
Visit Koala Fibo Base Time Indicator By Click On This Link
https://www.mql5.com/en/market/product/58460
#Fibo #FiboBaseTime #FiboTimeZone #FiboTimeExtention #MetaTrader #Trade #Mql4 #Mql5
