In MetaStock for Windows, you can establish Fibonacci Retracement levels by first creating an Expert in the Expert Advisor.
To do this, choose Expert Advisor from the Tools menu and then choose New.
Enter the following Expert Highlights and Expert Symbols into your Expert.
Fibonacci Ratios and Momentum
Highlights
Name: RSI > 50
Condition: RSI(14) > 50
Color: Dk Green
Name: RSI < 50
Condition: RSI(14) < 50
Color: Red
Symbols
Name: Isolated Low
Condition: LOW < Ref(LOW,-1) AND
LOW < Ref(LOW,1)
Graphic: Buy Arrow
Color: Black
Label: Isolated Low
Name: Isolated High
Condition: HIGH > Ref(HIGH,-1) AND
HIGH > Ref(HIGH,1)
Graphic: Sell Arrow
Color: Black
Label: Isolated High
Note: If the Symbol labels make the chart too busy you may want to shorten the label (e.g. change Isolated High to IH).
Next, close the Expert Advisor,
open any chart, and
then click the right-mouse button on the chart’s heading.
Choose Expert Advisor and then Attach from the Chart Shortcut Menu.
You can now choose Fibonacci Retracement from the Insert menu, and then drag from one isolated extreme to another.
Check the Snap to Price checkbox so the Retracement lines will automatically snap to the high and low prices.
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