Thursday, August 28, 2014

Fibonacci Gatto - MetaStock Formula Indicator

This is a two( 2) line indicator, derived from the workings of fibonacci, utilized for identifying action signals as part of your trading method. 

When utilizing this metastock formula you need to look for crosses of the two indicators for a call for action.

FG1:((c+ref(c,-1)+ref(c,-2)+ref(c,-3)+ref(c,-5)+ref(c,-8)+ref(c,-13)+ref(c,-21)+ref(c,-34)+ref(c,-55)+ref(c,-89)+ref(c,-144))/c)*-1
{{{adding closing price only on fib days 1,2,3,5,8,13,21,34,55,89 and 144 and then dividing by today's close}}}

FG2:mov(((c+ref(c,-1)+ref(c,-2)+ref(c,-3)+ref(c,-5)+ref(c,-8)+ref(c,-13)+ref(c,-21)+ref(c,-34)+ref(c,-55)+ref(c,-89)+ref(c,-144))/c)*-1,34,e)
{{{ 34 period mov avg of above indicator}}}