Tools: Fibonacci Extensions

The Fibonacci Extensions tool will plot from draw point 3, based on the distance between draw point 1 and draw point 2. 

To draw Formations on a chart, click the Formations button on the Drawing Toolbar.  The cursor will change to a pencil while in the draw mode.  The tool can be used to draw a variety of patterns, including Elliott Wave ABC corrections, Elliott Wave 12345 thrust moves, 3 Point Fibonacci Levels, Butterfly Patterns, Gartley Patterns, Triangles, and Trapezoids. 

The tool's properties were configured as shown below to create the Fibonacci Extension formation.  Enter Fibonacci percent levels in the 'Level' entry boxes for any Fib levels that you want to plot. Increase the 'Width Multiplier' to extend the Fibonacci lines horizontally into the future.

There are 15 Tabs at the bottom of the Properties window.  Each Tab can save a unique set of parameter settings.  This allows you to have 15 different line settings.  The Tab currently being used will have dashes next to the Tab number.  In the example below, Tab 1 is the current Tab being used.  Click on a Tab to switch to a different setting, or to make changes to the Tab setting.  You must click on a Tab in order to make and save changes to the Tab settings.  You are encouraged to set up a different tab for each of the possible formations.