723# Fibo wave
MA Fibs, Elliott Wave
submit by alienfx 13/12/2016
Fibo wave is an experimental template for study the relationship between static and dynamic support and resistance with the teory of the wave of Elliott. The idea is that support and resistence it can help to interpret the waves. This template is setting for intraday trading.
Why this is an experimental template? Because we have both static and dynamic support and resistance lines. This template is not for trading but only for observational study. The purpose is find if the wave work good with dynamic or static support/resistances lines.
The indicators used in this model are not random, but they have been carefully chosen so diligent and open source.
My working hypothesis is that dynamic indicators can better interpret the Elliott waves but have difficulties readapt, then, means to stabilize the support lines and dynamic resistance, I chose the envelpes based on fibonacci.
The observational study that I propose is to verify or deny the previous hypotheses through a discretionary study.
The benefits to be gained from this work is more efficient to use the wave theory.
The indicator of the waves, can also be replaced by another. On this site there is a large collection.
Time Frame 15 min, 30min 60 min.
Financial markets: any.
MA Fibs high
MA Fibs low
Pivot poins daily.
When appears the number of the wave (blue) wait that
the price action bounces on the supports/resistances dynamic or static.
In the pictures Fibo wave in action.