SPY .. Using Fibs a bit differently, like in Reverse squaredSo most people are used to the typical, "drag from bottom to a top or top to bottom and see where the percentages(ratios) lay"...well I kinda did it a little differently....as my name suggests, its a psychotic technique...but it hit some funky levels eh?
You take a high to a high, or in this case a low to a low and then you use the reverse function on the settings to show what it would be like:
Theory-- To understand a fib retrace you have to retrace something, but what if the bottom you are looking at may not be a true corrective bottom. Well, pick to pivot bottoms, as seen above and then connect them. But the reverse function allows for the "retace" to be calculated for another set of bottoms to come or if you may be at a new high peak.
Its by no means random cause you are following a retrace but using a multiplier and two pivots (be them highs or lows) to see what the mathematical nature of those two lows mean to your future charting. As follows... are those two lows I used really worth using for further analysis, well seeing how many times those fib lines hit seriously important places, they can be. But also, it means that you can connect those two and then do other funky things with them, which I will show below, to check "angular Fib Channeling" for future price action levels too.
If it all makes no sense, then answer me this,....you ever do something so out of the ordinary one day and something just clicked into place- like weirdly accurately; you find out there was an entirely different way to go about the thing you did and it arrives at the same mathematical conclusion...that is what I excel in- finding the weird, but working ideas.
4hr view:
angular Fib Channeling on the daily and 4hr respectively:
and the more funky way using algorithmic numeration with Fib Channeling:
(same blue arrows as previous fib channel regular settings, but changed numbers to my own mathematically derived...see what I mean that math can get you to the same place even with many different avenues of choice available)
-------
and lastly...to find angles if you arent able to:
You use the date and time combo measuring tool to find the exact square of two pivots you want to check the angle of...you go from the one point to the other, and then drop down along the same vertical of point two until you get to the exact value price of point one. Then you simple use the fib tool to set the angle from point one to two, then drop down vertically to the third point and there you go...see, works quite nicely...also using my custom number again:
4hr:
