Internal Fibs Indicator for Ninjatrader
The Internal Fibs Ratios provide very important information that we can use to define New Trade Setups Today we are going to cover the definitions of Internal Fibs and explain two very easy to follow setups : Definition : Given a Time Interval ( it may be a number of bars into the past, or today's price action ), we take the High, the Low, and then we calculate a percentage inside that range. If for example we are using the 78.6 % fib ratio, we have 2 levels : The 78.6% of the High The 78.6% of the Low ( or 100-78.6 = 21.4% of the High) The most useful values to follow are the 50% ( the middle of the range ) and the 78.8% One setup we can try is the 50-Vwap Trade ; It consists on looking at the confluence of the Vwap ( Volume Weighted Price Average ) and the 50% retracement of today's Range. This is a very easy to follow setup, we just need a fib tool and a Vwap. If we want to have a dedicated indicator to keep adjusted the high and low of the ...