Hi, this is my first post on this forum so please bear with me if I'm posting in the incorrect section. I had previously asked Equis support regarding the problem below and was told to ask on the forums as Equis was not familiar with the Fibonacci indicators.

I am running into a problem when applying my custom indicator to the daily bars of the Dow Jones Industrials chart (I have data from 1897 to 2001).

I had modified the code that I obtained from a website in order to try to get the FibLadder code in a workable form. I am not quite sure what the parameters of FibLadder (ExtFml( "ppEval.FibLadder", LadderLevel, LadderLevel, HOOK)) require or mean, although I am reasonably familiar with using Fibonacci indicators in general. What I am trying to get the indicator to do is display the 38.2% and 61.8% Fibanacci levels for adjacent bars, so that I can use these levels (eg. for entry and exit). If done correctly, it should show the levels for each day. However, when I applied the custom indicator to the daily bars of the Dow Jones Industrials chart, the indicator does not appear. The code for the indicator I used is:

i:=Input("Lookback Period", 1, 1, 1);
ExtFml( "ppEval.FibLadder",-2,i,!@#$#@!);

I also tried using pp (Dow 30) :: Fibonacci Ladder but this indicator only allows a minimum lookback period of 10 bars, whereas I need a lookback period of 1 bar. Please help!

"The fib ladder is not really any fibonacci but more like MurreyMath"

I don't quite understand. I googled MurreyMath and it's a trading system/software, whereas FibLadder is a Metastock indicator.

I googled fibtrace as well and it seems to be a function/object in C++/Java. Is this what you are referring to?

Sorry if I'm somewhat clueless about the various indicators/plug-ins out there... What I am trying to do is to have an indicator to display the 38.2% and 61.8% Fibanacci levels for each 2 adjacent bars.

although pervasively promoted, I haven't seen a single piece of scientific evidence yet that gives conclusive proof that markets really consistently move in the fibonacci proportions (23.6, 38.2, 50, 61.8 etc.).

As a good example,
I started to try some calcuations on the S&P500 index for this bull market - separated the 9 waves from the October 2002 bottom until now.

There are no Fibonacci relationships between those waves, but the following ones:

up down up down up down up down 768.6 954 789 1163 1060 1229 1136 1326.7 954 789 1163 1060 1229 1136 1326.7 1219.3 185.4 165 374 103 169 93 190.7 107.4 24% 17% 47% 9% 16% 8% 17% 8% 0.72 2.74 0.19 1.80 0.47 2.22 0.48

At least no easily intelligible Fibo relations.

I'm sure a true Elliottician would find some ;-)
using all sorts of squares and square roots etc. of Phi.

Same thing for Fibonacci Day count. Not a very reliable tool.