A Break from Fibonacci: How to access tick charts and a platform that allows one to draw line segmentsYou cannot use metatrader for this, you cannot draw equal length impulse waves. You need to use free ninjatrader, and then place trades on metatrader or whatever using the analysis you did in ninjatrader. Dont worry, data feeds are basically the same, and you can get a free live data feed from MBTrading!
First, you need to download ninjatrader.
http://www.ninjatrader.com/Next, you need to get a free demo account from MBTrading. You can technically use other companies, like FXCM, but i wasnt able to get them to work on ninjatrader.
http://www.mbtrading.com/Now follow the directions to connect to mbtrading.
http://www.ninjatrader.com/ConnectionGuides/MBTrading-Connection-Guide.phpUseful Ninjatrader TipsCreating a ChartGo to File->New->Chart. Type in the forex symbol you want to see, and press enter. On the right hand side, set the 'Type' to 'Tick' and 'Value' to 100.
Adjusting Scale of ChartJust drag your mouse vertically across the price axis, or horizontally across the time axis to compress/expand the axis. You will now see an 'F' in the upper right hand corner. This means auto price fitting is off, and when new price forms it wont fit the screen to the current price, and when you scroll back in time, it wont fit price. To get back to fitting price, click the 'f' in the corner, and it will disappear. Auto fit will now be on. However, theres no need for auto fit, you can scroll the chart beyond the current price and price can fill the white screen, and then you can scroll using the tip below.
Scrolling the ChartPress control and move your mouse across the price or time axis. This will scroll the graph. An 'F' will appear in the upper right hand corner.
ChartingYou can copy and paste line segments, just play with all the options for drawing different lines, rectangles, fibonacci retracements, and fibonacci extensions. You can modify the property (color, percentage extensions/retracemetns, etc) and you can save these settings as defaults (for retracements and extensions) by right clicking the open properties dialog, clicking manage templates, typing in the name of the template ('Default' if you want it default), and clicking OK.
In addition, the keyboard shortcuts are very useful, for example f8 is fibonacci retracements, etc (they are shown in the popdown menu when you select what you want to draw, the menu pops down when you click the pencil icon at the top).
Thats all for now, tomorrow i will discuss PRZs in more detail, describing how you form them. I will start by describing the most basic PRZs that one can form, and then eventually I will move to PRZs which form from general confluence and how to trade them. I am actually still learning this part so bear with me.
Have a good night!
Starry