Thank you! I think the week range is very useful, and we may draw fibo-levels based on the week range, including levels between (0 and 1) in case of consolidation in the week at T+1, but also between (0 and -2) and (1 and 3)... It will be very interesting to see that thing! You may try it out for past weeks and see some correlations ;-)
Try to do the following for week T0 and for week T+1
1. For week T0 you identify the highest and the lowest level on the week's range.
2. Based on that levels, you build up Fibonacci Retracement Levels, where 0 (0%) level is at the lowest point of the week's range, and 1 (100%) level is at the highest (or vice versa).
3. You go at the Properties of the Fibo Retracement levels, and you put the following ones (for example)
a/ for the range between 0 and 1 (0% and 100%), you input the following:
0.145898, 0.381966, 0.5, 0.681034, 0.763932, 0.909830
b/ for the range >1+, you input the following
1.381966, 1.618034, 2.381966, 3
c/ for the range <0, you input the following
-1.381966, -1.618034, -2.381966, -3
By the, where I may find that week's range?
Thank you!!
1. For week T0 you identify the highest and the lowest level on the week's range.
2. Based on that levels, you build up Fibonacci Retracement Levels, where 0 (0%) level is at the lowest point of the week's range, and 1 (100%) level is at the highest (or vice versa).
3. You go at the Properties of the Fibo Retracement levels, and you put the following ones (for example)
a/ for the range between 0 and 1 (0% and 100%), you input the following:
0.145898, 0.381966, 0.5, 0.681034, 0.763932, 0.909830
b/ for the range >1+, you input the following
1.381966, 1.618034, 2.381966, 3
c/ for the range <0, you input the following
-1.381966, -1.618034, -2.381966, -3
This can have very nice predicting properties ;-)
Cheers! Good luck