Shouldnt Fibonacci number be the other way around?

[thevinman]

Hi esignal,

I am playing with the fibonacci lines and saw something weird to me.

I have an chart in front of me that is up trending. I draw the fibonacci lines. I left click the mouse on the low of the intraday and let go of it at the high.

Then to my amazement I see that the 0.000 is at the top and that the 1.000 is at the bottom. It should be the other way around. I am drawing upwards.

When I want to see future levels and I go to edit and put in the higher values of the fibonacci, they appear at the bottom. But that should not be the case. It should extend upwards.

At the moment I am using esignal 8.0 r2, so maybe this problem is already solved in the later versions.

Kind regards,

the vinman

[ACM]

Re: Shouldnt Fibonacci number be the other way around?

thevinman

Then to my amazement I see that the 0.000 is at the top and that the 1.000 is at the bottom. It should be the other way around. I am drawing upwards.

If - as I am assuming from your description - you are referring to the Fibonacci Retracements tool then the way the numbers are displayed by eSignal is correct. The point where you first click should display 1.000 as that would be a 100% retracement within the measured range and the second point where you click should show 0.000 as that is the starting point of the measurements of any retracement. The numbers should also increase from the second anchor point to the first one (see also comments in the enclosed screenshot).
Alex

Originally posted by thevinman
Hi esignal,

I am playing with the fibonacci lines and saw something weird to me.

I have an chart in front of me that is up trending. I draw the fibonacci lines. I left click the mouse on the low of the intraday and let go of it at the high.

Then to my amazement I see that the 0.000 is at the top and that the 1.000 is at the bottom. It should be the other way around. I am drawing upwards.

When I want to see future levels and I go to edit and put in the higher values of the fibonacci, they appear at the bottom. But that should not be the case. It should extend upwards.

At the moment I am using esignal 8.0 r2, so maybe this problem is already solved in the later versions.

Kind regards,

the vinman