Description
The E.G. Dynamic Fibonacci is an indicator implemented for the NinjaTrader 8 platforms; it 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%.
Fibonacci retracements can be used to place entry orders, determine stop-loss levels, or set price targets.
