/*********************************************************************************************** Title: Fibonacci Fan Script for eSignal By: Divergence Software, Inc. Web: http://www.sr-analyst.com ================================================================================================ ========================= Project Description: Uses eSignal mouse interface. Allows you to double-click on two points to create a fibonacci fan. Disclaimer: For educational purposes only! Obviously, no guarantees whatsoever and use at your own risk. ********************************************************************* Project Description: This indicator allows you to plot fibonacci fans using the eSignal EFS mouse interface. A fibonacci fan is created by first drawing a trendline between two points (i.e., a swing-low to a swing-high, or vice- versa) and then dividing the vertical distance between those two points by the key fibonacci ratios of 38.2%, 50.0% and 61.8%. The "fan" lines are then drawn from the anchor point through the points defined by the fibonacci ratios. Steps to Draw a Fibonacci Fan: 1. Load the Fibonacci_Fan_1.efs indicator into your chart. When loaded, you will see a small button at the lower-left of your chart labelled "FibFan". 2. Click once on the "FibFan" button. The "FibFan" button will be replaced by a prompt "Double-Click on High or Low of Bar 'A'...". Move your mouse cursor near the high or low of any bar on your chart and double-click. The letter "A" will appear above or below the point where you clicked. Double-clicking near the high of a bar will select the bar high as the anchor point. Double-clicking near the low of a bar will select the bar low as the anchor point. 3. The prompt will now change to "Double-Click on High or Low of Bar 'B'". Move your mouse cursor near the high or low of the second bar and double-click. A trendline ray will be drawn through the two points you have selected and the fibonacci fan will be calculated and drawn as well. You can repeat the process to draw multiple fibonacci fans on your chart. Any fibonacci fans that you create will remain on the chart until you either refresh the chart or unload the script. Indicator Parameters: Fib Level #1: The first fib level. Generally this would be left at 0 to create the trendline that will be drawn through the two points that you select on the chart. Color: The color to use for the first fib level. The default is red. Thickness: The thickness to use for the first fib level. The default is a thickness of 2. Fib Level #2: The second fib level. The default value is 38.2% Color: The color to use for this fib level. The default is blue. Thickness: The thickness to use for this fib level. The default is a thickness of 1. Fib Level #3: The third fib level. The default value is 50.0% Color: The color to use for this fib level. The default is green. Thickness: The thickness to use for this fib level. The default is a thickness of 1. Fib Level #4: The fourth fib level. The default value is 61.8% Color: The color to use for this fib level. The default is magenta. Thickness: The thickness to use for this fib level. The default is a thickness of 1. Button Horz Offset: The horizontal offset (in pixels) at which to display the "FibFan" button. You will only need to adjust this option if you are using other indicators or scripts that draw buttons at the lower-left of your chart. This option allows you to move the button out of the way of any other buttons. Button Vert Offset: The vertical offset (in pixels) at which to display the "FibFan" button. You will only need to adjust this option if you are using other indicators or scripts that draw buttons at the lower-left of your chart. This option allows you to move the button out of the way of any other buttons. Disclaimer: For educational purposes only! Obviously, no guarantees whatsoever and use at your own risk. **********************************************************************/