E.G. Dynamic Fibonacci
$199 Lifetime Plan
Available on NinjaTrader and TradingView!
The E.G. Dynamic Fibonacci dynamically displays the Fibonacci retracement levels on your chart, drawn between the current day’s low and the current day’s high; each level is associated with a percentage; the percentage is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 50%, 61.8%, 78.6%, and 100%.
This tool brings the power of Fibonacci lines to your charts, dynamically calculating and painting levels between the current session’s low and high. It’s like having a Fibonacci wizard right on your trading screen.
The E.G. Dynamic Fibonacci can be useful for:
- Improved Stop-Loss Placement: By using Dynamic Fibonacci, day traders can set more informed stop-loss levels, reducing the risk of being stopped out of a trade prematurely.
- Enhanced Trade Management: Dynamic Fibonacci can help day traders manage their trades more effectively, identifying areas of potential price consolidation and indicating when to scale in or out of a position.
- Increased Accuracy: By accounting for market volatility and trends, Dynamic Fibonacci provides more accurate price projections and targets, enabling day traders to make more informed trading decisions.
- Flexibility in Market Conditions: Dynamic Fibonacci can be applied in various market conditions, including trending, range-bound, and volatile markets, making it a versatile tool for day traders.
- Combination with Other Indicators: Dynamic Fibonacci can be used in conjunction with other technical indicators, such as moving averages, oscillators, or momentum indicators, to create a more comprehensive trading strategy.
- Scalability: Dynamic Fibonacci can be applied to different time frames, allowing day traders to adapt their strategy to suit their trading style and market conditions.
- Improved Risk-Reward Ratio: By identifying more accurate support and resistance levels, Dynamic Fibonacci can help day traders optimize their risk-reward ratio, leading to more profitable trades.
By incorporating Dynamic Fibonacci into their trading strategy, day traders can gain a competitive edge in the markets, making more informed trading decisions and improving their overall performance.
Trading platforms: NinjaTrader 8 and TradingView.
Instruments: All the instruments.
The video below demonstrates how the E.G. Dynamic Fibonacci can be used to define the profit targets.
E.G. Dynamic Fibonacci
$199 Lifetime Plan