![]() The indicator may not work properly if there was not enough bars on the chart. Please check the images below for a better understanding. If “Use Recent ZigZag” is enabled, the indicator will use the most recent stable ZigZag, otherwise it will use the previous one. It has all the inputs of Zigzag and two additional inputs for Fibonacci extension, if you checked “Show Extra lines”, it will plot the Fibonacci retracement of 0.236, 0.382 and 0.618 above and below the 0% and 100%. It uses the built-in version of Zigzag from NT8, but instead of plotting Zigzag on chart, it draws the Fibonacci extension lines. It works on any timeframe and chart type that supports ZigZag, such as Renko, Heiken Ashi, Range and Tick. This custom Ninjatrader indicator will plot Fibonacci extension lines automatically from previous Zigzag High or Low. Fibonacci retracement is based on the idea that markets will retrace a predictable portion of a move, after which they will continue to move in the original direction. They are named after their use of the Fibonacci sequence. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.Category: Indicator, Ninjatrader, Technical analysis Tags: fibonacci, retracement, zigzag 2 Commentsįibonacci retracement is a method of technical analysis for determining support and resistance levels. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. The past performance of any trading system or methodology is not necessarily indicative of future results. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. This, and all other information on our website, is neither a solicitation nor an offer to Buy/Sell futures or options. Don't trade with money you can't afford to lose. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. ![]()
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