Description
Fibonacci time ratios represent the aspect of time in Elliott Wave Theory. The drawing consists of vertical lines distant from each other based on Fibonacci ratios; these lines are said to mark important time targets if vounted forward from a significant peak or trough.
In order to add the Fibonacci time ratios drawing to chart, choose it from the Active Tool menu. Specify begin and end points of the trendline; the time targets will be calculated automatically.
Properties
Appearance:
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Calculate ratios by. Set this property to "Time" so that the lines will be distanced based on time span between the first and the last one; otherwise the distances will be calculated based on the number of bars in the time span.
Begin point:
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Value. Defines the price value corresponding to the begin point of the trendline.
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Date/Time. Defines the time scale value corresponding to the begin point of the trendline.
End point:
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Value. Defines the price value corresponding to the end point of the trendline.
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Date/Time. Defines the time scale value corresponding to the end point of the trendline.
Fibonacci curve properties:
This section allows you to add extra parallel lines to the Fibonacci time targets.
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Visible. Defines which of the extras line should be visible.
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Coefficient. Defines the percentage ratio as a decimal.
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Color. Defines the color of the line.
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Style. Defines whether the line should be plotted as solid, long-dashed, or short-dashed.
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Width. Defines the line width in pixels.