Custom retracements and fans

   The Fibonacci retracement tool calculates retracement levels at
predefined steps, based on the Fibonacci series. First you draw out a
line along a trend, then horizontal retracement lines are drawn at
fixed percentages between the end points of your line. These levels are
at well known percentages such as 38.2%, 61.8% and 161.8%. But it's
possible to build your own retracement tools that work at different
levels.

Editing retracement levels

  Start by drawing a Fibonacci retracement, or price retracement.
  Right click it and select properties.
  Select the retracements tab
  You will see a list of all of the current retracements. You can edit the retracements here.

    To add a new level, press the Add button, then type a number into the retracement % box.

    To edit an existing level, select that level, then overtype the value in the retracement % box.

    To delete an existing level, select it and press delete.

  You can also modify the style, colour and thickness of each
individual retracement line. This can help you to quickly identify the
important levels.
  Press OK to apply the changes.

Saving a Retracement Level Template

Being able to customise the retracement is handy, but
it'd be very time consuming if you needed to do it every time. So it's
possible to save the levels as what's called a level template. (not to
be confused with a chart template).

Notice that the dialog above shows that the Fibonacci template is in
use at the moment. If you change the levels, close the properties, then
reopen them, you will notice that this changes to "Custom". If you
select another template from that dropdown then the levels will
immediately update in the properties.

Make some changes to the template. You can then either press Save to
save over the top of the current template, or Save As to save your
changes as a new template.

Setting the default template, and restoring factory settings

You may have noticed that it's possible to save over the built-in
templates. The manager button gives you an option to restore the
built-in templates. It also lets you select which template gets used by
default when you select the retracement tool.

Other tool types

There are a number of line studies that provide this customisation.
These include all of the fan tools, retracement tools, the time series
tool, and the fibonacci arcs and circles tool.

Each of these tools falls into one of three level types:

  Levels specified by percentage (eg retracements, arcs, some fans)
  Levels specified as fixed values (eg time series, fib time zones)
  Levels specified by rise/run ratio (eg Gann fan)

Templates that are created in one tool are also available in other tools of the same type.

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Peter Members Profile Send Private Message Find Members Posts Visit Members Homepage Add to Buddy List BullCharts Staff Joined: 09 Sep 2004 Location: Australia Posts: 241	Post Options Post Reply Quote Peter Report Post Quote Reply Topic: Custom retracements and fans Posted: 20 Dec 2004 at 11:46am
	The Fibonacci retracement tool calculates retracement levels at predefined steps, based on the Fibonacci series. First you draw out a line along a trend, then horizontal retracement lines are drawn at fixed percentages between the end points of your line. These levels are at well known percentages such as 38.2%, 61.8% and 161.8%. But it's possible to build your own retracement tools that work at different levels. Editing retracement levels Start by drawing a Fibonacci retracement, or price retracement. Right click it and select properties. Select the retracements tab You will see a list of all of the current retracements. You can edit the retracements here. To add a new level, press the Add button, then type a number into the retracement % box. To edit an existing level, select that level, then overtype the value in the retracement % box. To delete an existing level, select it and press delete. You can also modify the style, colour and thickness of each individual retracement line. This can help you to quickly identify the important levels. Press OK to apply the changes. Saving a Retracement Level Template Being able to customise the retracement is handy, but it'd be very time consuming if you needed to do it every time. So it's possible to save the levels as what's called a level template. (not to be confused with a chart template). Notice that the dialog above shows that the Fibonacci template is in use at the moment. If you change the levels, close the properties, then reopen them, you will notice that this changes to "Custom". If you select another template from that dropdown then the levels will immediately update in the properties. Make some changes to the template. You can then either press Save to save over the top of the current template, or Save As to save your changes as a new template. Setting the default template, and restoring factory settings You may have noticed that it's possible to save over the built-in templates. The manager button gives you an option to restore the built-in templates. It also lets you select which template gets used by default when you select the retracement tool. Other tool types There are a number of line studies that provide this customisation. These include all of the fan tools, retracement tools, the time series tool, and the fibonacci arcs and circles tool. Each of these tools falls into one of three level types: Levels specified by percentage (eg retracements, arcs, some fans) Levels specified as fixed values (eg time series, fib time zones) Levels specified by rise/run ratio (eg Gann fan) Templates that are created in one tool are also available in other tools of the same type.