Method used to predict trend changes or price reversals in technical analysis. On a price chart, lines are drawn at given price points that correspond to the Fibonacci sequence of numbers in a specific range of time. The first line is usually drawn where a major price move transpires. The reason behind using Fibonacci Time Zones is the belief that large market events occur at the same points as where the lines are drawn. Also known as Fibonacci Time Series.
Related information about Fibonacci Time Zones:
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Fibonacci Time Zones are vertical lines based on the Fibonacci Sequence. These lines extend along the X axis (date axis) as a mechanism to forecast reversals ...
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I was testing all the fibonacci indicator from the metatrader. I found time zone. I am not sure how to use it. Does it work ? How to implement?