Fibonacci Chart Overlay for Stock and Forex Traders
It is no secret that predictive power lies in Fibonacci Retracement levels.
These reversal points paired with smart money management and trading techniques
can increase the probability of profitable trades. There are many trading
strategies that involve Fibonacci Retracement and Fibonacci Extension levels.
However, some of the mainstream web-based trading platforms, such as Scottrade,
do not offer Fibonacci analysis tools. FiboChart is a transparent overlay
tool that works with your favorite charts, including Yahoo! Finance, Google Finance,
Stockcharts.com, and Scottrade.
- Non-Standard Fibonacci Levels
FiboChart now supports adding non-standard support and resistance levels to your charts.
- Improved User Interface
FiboChart's interface has been enhanced to make it easier to overlay your favorite charts with
Fibonacci Retracement and Extension grids.
- Apply Fibonacci grids to any chart
- Use Fib extensions to quickly spot profitable exit points
- Quickly spot support and resistance levels
- Target market reversals
- Calculate Pivot Points
The drag and drop high and low range lines are fully adjustable and when applied
to the high and low range of price waves on a chart, provide the standard 61.8%,
50%, 38.2% and 23.6% retracement or reversal levels. These levels are used to help
determine probable turning points for entry, exit and stop loss points.
For a demo of FiboChart click on the videos below:
FiboChart includes the standard Fibonacci Extension levels of 119.1%, 138.2%, 161.8%,
and 261.8% used by many traders as profit targets for closing partial or full positions
from either the long or short side. These Fibonacci trading strategies are the cornerstone
of methods used effectively by those at TRADEthemove.com and TraderX.
FiboChart also provides a tab for quick and convenient Pivot Point calculations
based on prior day price action and current opening price. Many Fibonacci traders use these
morning calculations to determine the direction of the day's session.
To learn more about FiboChart, please visit the Products