Fibonacci Extension Indicator
A Fibonacci Extension indicator is often used by traders as an indication of support and resistance. These indicators provide Fibonacci levels that are determined by identifying three extreme points (ex. a swing low, a swing high, and a swing low), and dividing the vertical distance between the first two extreme points by Fibonacci ratios. The resulting values are then added/subtracted from the third extreme point to show the Fibonacci Extension levels.
The Fibonacci Extension indicator will automatically find new swing high and low points, and update the Fibonacci Extension levels on your charts for you. This makes it easy for you to spot potential trading opportunities and act accordingly. Additionally, the indicator allows you to easily customize which extension levels are displayed, as well as the color, width, and style of the lines. You can also save and load templates, making it easy to switch between the settings that work best with your trading.
Click the link below to download our Free Automatic Fibonacci Extension indicator for NinjaTrader:Auto Fibonacci Extensions Indicator for NinjaTrader 7 (1765 downloads)