FibGrid Has a New Home!

It seems that FibGrid has outgrown it’s humble home here.  To purchase the learn more about FibGrid, or to purchase a copy, visit the new home at FWTrader.com.

FibGrid: Prices, Elliott Wave, and Fibonacci

The tendency of financial market movements to be proportional to other movements in ratios that have Fibonacci proportions is well documented.  For example, many know that prices often retrace 38.%, 50%, or 61.8% of a move.  Others know of some of the common projection ratios and we use many of these in our analysis.  Less known is the FibGrid technique that projects a series of possible support and resistance levels based on projections from the beginning stages of the last bull market of significant degree.

The amazing thing is how prices tend to find these support and resistance levels that were projected from prices years earlier (sometimes even decades earlier) and those projections provide levels that are meaningful in almost all timeframes, including short day-trading timeframes.  This 2584 share shart of the emini Dow futures shows how price obeys fibgrid levels on intraday movements.  The key values for the projection of these levels were set back in 2002 and the support/resistance levels shown today have not moved since then.  Prices still find them.

[Click image to enlarge]

More details on how FibGrid works can be seen in our theory video

FibGrid Software

We do our best to keep you informed of powerful techniques like the ones that underlie FibGrid.  The theory lessons on this page, in videos, and the our daily commentary which incorporates FibGrid techniques are yours free of charge.  You can make full use of then by drawing the many Fibonacci levels yourself or building your own indicators for your own personal use.  Since we’ve already done the work, we’re offering the FibGrid software for what we believe is a modest fee compared to other trading indicators and it helps support our ongoing efforts.

We have versions of FibGrid available for ThinkOrSwim, TradeStation, and Ninja Trader (in beta testing, full version coming soon).  We recommend FibGrid for TradeStation (version 8.3 or higher) or Ninja Trader (Version 7.0) if you have access to one of these platforms.  Because of the way ThinkScript (the ThinkOrSwim programming language) works, it requires that you make configuration adjustments to FibGrid whenever switching symbols on your chart or when prices make significant moves into new regions.  Instructions on how to do this are provided in the documentation, however these steps are unnecessary on the other platforms as the TradeStation and Ninja Trader versions are able to automatically reconfigure when symbols change and do not need to be adjusted for different price ranges.  Lastly, the ThinkOrSwim version consumes more system resources (memory and processing power).  All versions have the same mathematical calculations and show the same significant support and resistance projections.

Version Comparison

ThinkOrSwim

TradeStation

NinjaTrader

Futures Symbols
Equity Index Symbols
Auto-detect symbol
Display all grid sections without configuration
Efficiently draws grid using trendlines
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