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The math was for a simple Fibonacci retracement. Adjust the equation and apply it for the start of the channel and then add/subtract the offset for the end of the channel to get two prices for the trend line.
EDIT: My apologies, I have been answering you posts as it it were a Fibonacci retracement and not regarding Fibonacci channel. For a channel just adjust the equations to be in respect to trend lines instead of horizontal lines.
By the way, a trendline is defined by a standard linear equation "y = mx + c".
The math was for a simple Fibonacci retracement. Adjust the equation and apply it for the start of the channel and then add/subtract the offset for the end of the channel to get two prices for the trend line.
so you mean by
Level Price = [Upper Value 1] + ( [Upper Value 2 ] - [Upper Value 1] ) -[Lower Value 3]* [Level Value]
No. My apologies, but in my previous posts I have been answering your posts as if in respect to Fibonacci retracement and not regarding Fibonacci channel.
For a channel you will have to adjust the math for a line between the first and second anchor points, and the third anchor point being the channel height.
The fibonacci levels are then the multiplication ratio for the channel height and sloped at the same slope as the trend-line between first and second anchor points.
You will have to adjust my math for this.
No. My apologies, but in my previous posts I have been answering your posts as if in respect to Fibonacci retracement and not regarding Fibonacci channel.
For a channel you will have to adjust the math for a line between the first and second anchor points, and the third anchor point being the channel height.
The fibonacci levels are then the multiplication ratio for the channel height and sloped at the same slope as the trend-line between first and second anchor points.
You will have to adjust my math for this.
i could not derive this formula, have been trying from morning, but i will continue the research, thanks for help
It will probably be something like this:
I am doing this out of my head as this is simple school math, so please check, revise and adjust it for the anchor points.
It will probably be something like this:
I am doing this out of my head as this is simple school math, so please check, revise and adjust it for the anchor points.