Topic: Fibonacci - How is it calculated?
I was just wondering how FSB calculates the Fibonacci retracement levels.
Generally when we manually draw the Fibonacci retracements it is quite subjective from person to person.
Would you be able to detail the specific factors of how FSB determines the highs and lows for Fibonacci retracements?
Would you also be able to provide an explanation of the relationship between the sensitivity number and the way FSB
draws the Fib levels?
For example, does the sensitivity number determine
- how many bars between the highs and lows?
- the number of pips between the highs and lows?
- or is it determined in a completely different way?
I would like to understand how to draw the Fib levels manually in the same way as the program does, so that
I can replicate the trading system in live trades.
Any insight you can provide will be highly appreciated.