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Random article: Accumulation Distribution Indicator
In measurement formula for Joe Granville indicator, close prices compared with the purpose of adding or deducting of volume, whereas Williams' indicator open and close prices are compared. Marc Chaikin compares close prices with the middle of range from minimum to maximum. The history of indicator is interesting on its own. In Larry Williams formula, Chaikin substituted open price for price of range. The reason of change was not that he considered it wrong, but that he was not able to find data on prices of opening. That time prices were taken from daily papers, which, due to some reason, stopped publishing prices of opening.
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Popular article: Fibonacci Forex Channel. Fibonacci in forex
Fibonacci Channel represents a sort of Fibonacci Retracement, but this time all trend lines are drawn diagonally and not horizontally. Drawn channels can serve as supportive or resistance lines. Fibonacci Channel is built with a common method: the line is put through trend's High and Low, this line composes entire width of channel and its value is taken as equal to one. Further, parallel lines are drawn through obtained channels through the levels 23,6%, 38,2%, 50%, 61,8%, 76,4%, 100%, 161,8%, 261,8%, 423,6%. It is assumed that resulting lines can serve as support or resistance lines as well as pivot or correction points of a trend.
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