Fibonacci Projection tool?

Does anyone know if this tool exists for MT4? I have been using a charting package that provides this tool, but want to use MT4, and they only have the fibo retracement tool. I would sure appreciate any info on this.

what tool are u referring to? maybe you can be specific about how the fibo projection tool works. I'm sure someone here can program that into MT4

Are you referring to the 'Fibonacci Expansion' tool? If so it's there under 'Insert -> Fibonacci' on any standard MT4 install.

Hope that helps and good luck!

Lux

Well, I think it might be unique to metastocks charting. But it is used just as its name implies. To project where the market might be likely to go using fibonacci numbers. It is similar to what the retracement is, which is what Luxinterior is suggesting. When using the retracment on a a buy you would draw it from the previous swing low to swing high. For the projection you draw it from low to high to low. Sorry I am not real knowledgeable about it, I just know the basics of how to draw it and thats about it. But it has been helpful in my trading. I would like to use MT4, because it is pretty easy to use. And I was hoping it had this tool. Thanks for your responses.

I have been doing some searching. And on metatraders website I was reading about the different line studies, and the call it fibonacci expansion. I think it is the same thing, just a different name. But my version of mt4 only had the retracement. Anyone know where I could find the fibonacci expansion?

I am pretty sure they all have the expansion tool. It is under insert- Fibonacci - expansion. If not try InterbankFX, or North Finance. I know for sure they have it

Yeah Luxinterior that is what I was looking for. After I read about the expansion , and drew it, that was the one. I was just expecting it to be called the same name as in metastock charts. I feel kind of dumb now. Thanks for your help guys.