Fibonacci Retracement Tool (F8)
What is the difference between "Inside Right" and "Extreme Right" when using this tool? Also, this tool does not operate by default as it should causing numerous extra steps.
Here's how it currently works: Let's say you have a lower price to the left, and a higher price to the right. So, you sloppily select the lower left point as 100% (because the tool does not anchor on a bar and a price), and then drag the 0% marker up and to the right - again sloppily - meeting the upper right price point. Then, if you have either Inside Right or Extreme Right selected as preset for the tool, you can see the prices and retracement levels off to the right where there are no prices. (This assumes that one does not have Snap Mode set to Bar & Price). If one sets Snap Mode to Bar & Price to get the anchor points exact, then the second price point in the upper right is often close to the first price point in the lower left, causing the tool not to extend to the right to cover current prices. So, then, one has to select to extend the lines, and then they go all the right to the right of the chart, which is not desirable because there may be other information there.
The above operation is pretty dumb, and it's like it was designed by a non-chartist. Here's how it should work.
The User Presses F8 to get the Fibonacci retracement tool. Then, the first mouse click on the lower left price point sets the exact anchor point (because Bar & Price Snap Mode is set by default for this tool), and as the mouse moves up towards the upper right price point, the tool expands revealing the levels, until the user clicks the mouse on the upper right bar high. This is then exactly selected because the default Snap Mode for this tool is set to Bar & Price. After the second mouse click, the user drags the grid as far to the right as they wish so that the retracement level prices can be read off to the right where there are no prices. Then the user clicks the mouse a third time to finish the extension of the lines to the right. Done.
Do you see how much simpler this is? In practice, time is often of the essence and the ways these drawing tools are written and interact with the Snap Mode simply doesn't make sense to a seasoned trader.
The Fibonacci Extension (Expansion) tool should work in an analogous fashion. I urge NT to revisit these because right now they make life much more difficult than it need be (and puts NT way behind the competition by-the-way).
Here's how it currently works: Let's say you have a lower price to the left, and a higher price to the right. So, you sloppily select the lower left point as 100% (because the tool does not anchor on a bar and a price), and then drag the 0% marker up and to the right - again sloppily - meeting the upper right price point. Then, if you have either Inside Right or Extreme Right selected as preset for the tool, you can see the prices and retracement levels off to the right where there are no prices. (This assumes that one does not have Snap Mode set to Bar & Price). If one sets Snap Mode to Bar & Price to get the anchor points exact, then the second price point in the upper right is often close to the first price point in the lower left, causing the tool not to extend to the right to cover current prices. So, then, one has to select to extend the lines, and then they go all the right to the right of the chart, which is not desirable because there may be other information there.
The above operation is pretty dumb, and it's like it was designed by a non-chartist. Here's how it should work.
The User Presses F8 to get the Fibonacci retracement tool. Then, the first mouse click on the lower left price point sets the exact anchor point (because Bar & Price Snap Mode is set by default for this tool), and as the mouse moves up towards the upper right price point, the tool expands revealing the levels, until the user clicks the mouse on the upper right bar high. This is then exactly selected because the default Snap Mode for this tool is set to Bar & Price. After the second mouse click, the user drags the grid as far to the right as they wish so that the retracement level prices can be read off to the right where there are no prices. Then the user clicks the mouse a third time to finish the extension of the lines to the right. Done.
Do you see how much simpler this is? In practice, time is often of the essence and the ways these drawing tools are written and interact with the Snap Mode simply doesn't make sense to a seasoned trader.
The Fibonacci Extension (Expansion) tool should work in an analogous fashion. I urge NT to revisit these because right now they make life much more difficult than it need be (and puts NT way behind the competition by-the-way).
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