FibGrid
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 38.2%, 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 chart 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 underly 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. 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, Ninja Trader 7, and StockFinder 5. 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 ThinkOrSwim and StockFinder platforms work, they 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.
Important note for NinjaTrader users: FibGrid will only run on NinjaTrader 7.0 and will not work with version 6.5 or earlier.
Important note for StockFinder users: FibGrid will only run on StockFinder 5 and will not work with prior versions.
Version Comparison
ThinkOrSwim |
TradeStation |
NinjaTrader 7 |
StockFinder 5 |
|
| Futures Symbols | ☑ | ☑ | ☑ | ☐ |
| Equity Index Symbols | ☑ | ☑ | ☑ | ☑ |
| Auto-detect symbol | ☐ | ☑ | ☑ | ☑ |
| Display all grid sections without configuration | ☐ | ☑ | ☑ | ☐ |
| Efficiently draws grid using trendlines | ☐ | ☑ | ☑ | ☐ |
FibGrid is availbable for $149.95.
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16 Responses to “FibGrid”
Do you have now FibGrid for Crude Oil?
Thank you,
Pierre
All versions of FibrGrid have built-in values for NYMEX crude oil futures (CL).
Fib Grid combined with Dyna Range are a must have. I have used on Chart Range setting for several trades where had I not gotten out on the indicators my profit would have been substantially reduced. Nothing else was showing the need to Take the Profit.
Does FibGrid have built-in values for mini-gold futures (YG)?
FibGrid has values for the full size GC contract. Since the YM will typically track the GC you can use the full sized settings.
Can FibGrid be set to indicate shorter term Fib levels not necessarily from prior years, but intraday or weekly?
Trader197, Good question. I put together this video to demonstrate the answer and how one might create shorter-term levels: http://www.fwtrader.com/...ort-term-fibgrid-projections/
Since I ususally trade stocks, should I get fibgrid or stock grid? You have talked about fibgrid being updated for stocks, so I am not sure if fibgrid is the tool or not.
Great question!
Ever since FibGrid was created, people have been asking for a tool like it for individual stocks. StockGrid was the first attempt. I refer to StockGrid as being like "pivots on steroids." StockGrid uses the same Fibonacci calculations as FibGrid. However FibGrid is based on long-term Elliott Wave calculations which can't always be found for stocks. StockGrid gets short-term levels in a manner similar to pivots so it will work on any stock and really any security.
Many people use and like StockGrid and the levels often work well, but I still wanted something that would have the same power as FibGrid so I jumped in and started FibGrid Stock Update.
FibGrid Stock Update is a subscription add-on to FibGrid. With Stock Update I continually review the 150+ stocks (currently) that are included and update the values used for the long-term projections and I keep adding new stocks.
Updates to the indices, index ETFs, currencies, and futures included with FibGrid are included free. The extra uncertainty of wave count with individual stocks causes them to need more careful monitoring and changes, plus the sheer number of them means that the there are always some levels to re-calculate. So the only way I could reasonably produce something like FibGrid Stock Update is as a subscription service. That being said, having seen the levels on FibGrid Stock Update, I am constantly amazed.
StockGrid and FibGrid stock update each have their advantages. StockGrid will work on everything and it is a one-time fee. Stock Update is offered as a subscription, and produces the best support and resistance levels I've seen for individual stocks, but only works for stocks on the list. I use subscriber requests to prioritize new additions, but there is no guarantee that I can find wave values for every stock.