GoCharting Docathlon

Fibonacci Wedges


Usage

A Fib Wedge is a set of arcs spreading out of the point of a trend’s beginning. These arcs are placed on levels formed by a Fibonacci number series.
Generally, the Fib Wedge is a kind of analogue of the Fibo Retracement.
The Fib Wedge determines the end of correction and support levels. It is drawn according to the trend movement (two points) and wedge arcs for visual analysis of the chart.
A wedge becomes more convenient if its borders are carried out with a margin, so that the price is approximately in the middle of the wedge, and the upper arc touches the extreme price.

Appearance

In Appearance property dialog it is possible to change the appearance and configuration of a Fib Wedge:

Line

The checkbox toggles visibility of the lines on both sides of the wedge. Drop-down and slider adjust it’s color, opacity and thickness.

Rows

Checkboxes on the left toggle the visibility of additional arcs of the wedge. Drop-downs and sliders beside adjust the level line’s color, opacity and thickness.
Also, it is possible to enter a custom ratio for the arcs’ placement.

Labels

This checkbox toggles the visibility of text displaying arcs’ levels values.

Background

Toggles the visibility and opacity for the background fill between the wedge’s arcs.

Shape

In Shape properties dialog you can set precisely the position of the initial points of the Fibonacci Wedges on the price scale (by setting the price) and the time scale (by setting the bar number):

Price P1

Allows for the precise placement of the first point of the Fibonacci Wedge (Price 1) using a bar number and price.

Price P2

Allows for the precise placement of the second point of the Fibonacci Wedge (Price 2) using a bar number and price.

Price P3

Allows for the precise placement of the third point of the Fibonacci Wedge (Price 3) using a bar number and price.

View

In View properties dialog you can toggle displaying of the Fib Wedge on charts of different timeframes.
Allows to configure a drawing to be displayed on particular intraday and daily timeframes on chart. For any timeframe you can select either to show it, or to hide.