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pippt  
#1 Posted : Tuesday, September 9, 2008 2:34:38 PM(UTC)
pippt

Rank: Newbie

Groups: Registered, Registered Users
Joined: 9/9/2008(UTC)
Posts: 1

I would like to build an indicator that we can call Fibonnaci Price zones. It is something similar to the Fibonacci Time zones that show us the Fibonacci Time lines as vertical lines.

Fibonacci Price Zones will show price levels (horizontal lines) based on the Fibonacci numbers, adding or subtrating Fibonacci numbers to a previous low or high price value.

Example: If a stock made a low at 10 USD this indicator will show the next Fibonacci price levels at 10.08, 10.13, 10.21, 10.34, 10.55, 10.89, 11.44, 12.33 (for example). Perhaps the user can decide the levels that are more important or significant for him. That is important because if we are working with stocks with low or high price values we will use different Fibonacci numbers according to the stock value.
Can someone help me to build his indicator?

Thanks in advance for your help!
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