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I am tryng to build a scan that includes fibonacci retracement trend lines. How can I do this?
I am trying to build a scan for stocks that when my scan is complete and I select a symbol to view the stock chart it will include fibonacci retracement lines automatically in the chart rather than putting the trend lines each time for every stock I want to look at. Any help is appreciated.
0
Answers
I think this is because there is no agreed upon method for choosing the anchor points to draw the Fib lines. Also, most charts will have many possible anchor points. If every possible fib line were drawn, the chart would be covered with them. Which are the most important would depend on your trading intentions. Since this varies so much, it would difficult to come up with a chart style overlay method that would please everyone.