Traders’ Tips by Technical Analysis, Inc.
METASTOCK: Projected Fibonacci targets
In “Projected Fibonacci Targets” in this issue, Mohab Nabil
introduces Fibonacci studies, which may be new to some
readers. In MetaStock, it is very easy to apply Fibonacci
retracements to a chart.
In MetaStock, bring up a chart you want to analyze. With
your cursor, you can simply click on the Fibonacci
retracements icon or use the Insert menu and select Fibonacci,
then choose one of our four studies. It will then apply the
study to your chart. The defaults of 23.6, 38.2, 50, and 61.8%
will automatically appear. You also can customize any other
numbers that you would like to have appear in your study.
—Scott Brown, Equis International, Inc.