Fibonacci Expansion

[honkin]

hi

Can anyone tell me if it possible to plot fib expansion in NT7? I can see fib retracements (F8) and extensions (F9), but an expansion is where you touch A, B + C and D is plotted at various fib points. It's great for plotting targets for things like head and shoulders patterns and double tops and bottoms.

It's also very useful for harmonic patterns where you are wanting to plot AB / CD, where CD may be longer than AB, often it would be a 127.2, 141.4 or 161.8, depending on the depth of the retracement from B to C. The deeper that retracement, the further away the D completion would be expected. To plot it as a standard fib extension of AB gives a different result than using a true fib expansion of A, B, C.

It is a stock indicator in MT4, but cannot find it anywhere in Ninja, which seems a bit odd.

Any help gladly accepted

regards

honkin

[NinjaTrader_Kyle]

Hello honkin,

Thank you for your post.

Fibonacci Expansions are not included with NinjaTrader 7 by default. I will forward the suggestion that we add this object to our development staff for further consideration however.

[koganam]

hi

Can anyone tell me if it possible to plot fib expansion in NT7? I can see fib retracements (F8) and extensions (F9), but an expansion is where you touch A, B + C and D is plotted at various fib points. It's great for plotting targets for things like head and shoulders patterns and double tops and bottoms.

It's also very useful for harmonic patterns where you are wanting to plot AB / CD, where CD may be longer than AB, often it would be a 127.2, 141.4 or 161.8, depending on the depth of the retracement from B to C. The deeper that retracement, the further away the D completion would be expected. To plot it as a standard fib extension of AB gives a different result than using a true fib expansion of A, B, C.

It is a stock indicator in MT4, but cannot find it anywhere in Ninja, which seems a bit odd.

Any help gladly accepted

regards

honkin

What you describe are Fibonacci extensions and are correctly programmed as such.

[honkin]

Koganam, I really wish you wouldn't chime in with a reply if you know nothing of the subject. I am after an answer to something specific - Fibonacci Expansions.

You wrote "What you describe are Fibonacci extensions and are correctly programmed as such." I'm afraid you are mistaken. Both Fibonacci Retracements and Fibonacci Extensions are plotted using 2 points. Fibonacci Expansions are plotted using 3 points, as I explained in my question. How you think they are the same as Extensions and Retracements and are already programmed into NT is beyond me.

Fibonacci Expansions are terrific for AB=CD patterns. Plot from A to B to C and D will be shown at various points. The 100 expansion will be the point where AB = CD. Depending on how deep the retracement of A to B is, the length of C to D will vary. A 38.2 retracement will often find D come in around a 1.414 extension of AB. This will be in the vicinity of the 100% Fibonacci Expansion of ABC. A deeper initial retracement will see D further down, and this is where it comes in most handy.

If you would like to further your education on the subject, go here, as there is brief description of expansions Fibonacci Expansion Levels

If not, so be it

regards

honkin

[honkin]

Hello honkin,

Thank you for your post.

Fibonacci Expansions are not included with NinjaTrader 7 by default. I will forward the suggestion that we add this object to our development staff for further consideration however.

cheers Kyle and thanks for your reply. They certainly would be a handy tool to add to the arsenal in NT.

Regards

honkin

[koganam]

Koganam, I really wish you wouldn't chime in with a reply if you know nothing of the subject. I am after an answer to something specific - Fibonacci Expansions.

You wrote "What you describe are Fibonacci extensions and are correctly programmed as such." I'm afraid you are mistaken. Both Fibonacci Retracements and Fibonacci Extensions are plotted using 2 points. Fibonacci Expansions are plotted using 3 points, as I explained in my question. How you think they are the same as Extensions and Retracements and are already programmed into NT is beyond me.

Fibonacci Expansions are terrific for AB=CD patterns. Plot from A to B to C and D will be shown at various points. The 100 expansion will be the point where AB = CD. Depending on how deep the retracement of A to B is, the length of C to D will vary. A 38.2 retracement will often find D come in around a 1.414 extension of AB. This will be in the vicinity of the 100% Fibonacci Expansion of ABC. A deeper initial retracement will see D further down, and this is where it comes in most handy.

If you would like to further your education on the subject, go here, as there is brief description of expansions Fibonacci Expansion Levels

If not, so be it

regards

honkin

Hm. An interesting response to someone who tries to point out to you that what you seek and describe may already exist.

For your edification, I have posted the properties of the Fibonacci Extensions, which clearly shows that there are THREE anchor points.

I have also included the corresponding annotated drawing, showing the 3 anchor points, and how an AB-CD is generated.

Now that we have put that to rest, do you still think that I am the ignorant one that you need to insult to make your point? Especially when it was so easy to have checked this out for yourself. You post a response implying that you are the font of all knowledge. Well, since you want to be so snarky, you might do well to lose your infallibility complex, and remember the aphorism: "He who knows not, and knows not that he knows not, is ...". Who is the ignorant one now?

Any further insults from you shall be ignored, as coming from the so evidently flawed intellect from which they effuse. Indeed, by providing a button to ignore such uncouth behavior, I shall not even see any further responses from you. See, I too know how to use the language that you use so effortlessly.

[Taddypole]

If you look on FXTechnicalTrade.com you'll find the reason for the confusion. Fibonacci Expansion, Fibonacci Extension and Fibonacci Projection are all used to describe the same thing. If you make a move in a direction and then pull back some portion of that move and then again move in the original direction past the previous peak, that is an expansion or extension. You then use Fibonacci numbers to project a target. Ninja Trader has chosen to use the term 'Extension' for its drawing tool.

For future clarification, it would be nice if Ninja Trader added this information to their documentation.

See below:

Regards,
taddypole...
================================================== =======================

How to Draw Fibonacci Expansion in a Correct Way?

We know about Fibonacci retracements. We have covered that in our previous article. In this article we will learn about Fibonacci expansion levels and how to draw them in a correct way. Fibonacci expansion is sometimes known as Fibonacci projection or extension. Fibonacci expansion levels are used for identifying future support and resistance levels of price. They are also used for identifying profit targets.

Fibonacci expansion uses the same ratios as that for Fibonacci retracement. Lets us see how they are correctly drawn.
The steps to draw Fibonacci expansion

Step 1: Identify a trend that has started and pulled back, forming Points 1 and 2.

Step 2: Wait for Point 3 to form (more on point 3, explained below).

Step 3: Once Point 3 has formed, pull out your Fibonacci projection tool. Click on point 1, point 2 and then point 3.

[honkin]

I am more than happy to be proven wrong, and since that is the case, I apologise. It is not the first, nor will it be the last time.

Having said that, a one liner pointing in the tone used, pointing out that something already exists is a long, long way from assisting in my original query, which was "Can anyone tell me how to plot fib expansion in NT7?" If you had offered an explanation as to how it might be done, I would have been glowing in my praise, as I did say "any help gladly accepted".

I searched online, as well as the sadly inadequate manual and could find nothing at all to show how to plot them.

Even Kyle from NT customer service indicated "Fibonacci Expansions are not included with NinjaTrader 7 by default." Honestly, how would a punter be able to work out how to do it correctly if NT staff are not sure?

I'm certain you discovered it either through trial and error, or had it explained to you, but instead of simply passing on a tip as to how to do it, you thought to highlight my failure to realise that they do exist already and the fact that they are programmed correctly. I thank you for your assistance

Having only used NT again now for around a month, I do like some aspects, but others I dislike. The way to draw fibs is one I dislike, as even drawing standard fib extensions between 2 points is cumbersome, requiring a three click approach. To do it in MT4, one merely drags in the reverse direction to a retracement....a one click approach. I always thought when I left NT a few years back that a combo of the best of NT and the best of MT4 would make for a brilliant charting application.

regards

honkin

[NinjaTrader_Matthew]

Hi,

I'm writing to confirm that the fibonacci expansion describe in the original post can be accomplished using the fibonacci extension tool.

Sorry for any confusion.