In log scale you would expect Fibonacci to calculate retracements in percents, but it does it for absolute values and adjusts as you move the tool.
In other words  you would expect it to work exactly the same way as on paper chart  apply to pixelvalues of the chart, not absolute price changes.
It would be great to have an option for this, or maybe respect the "Scale Price Chart only" option, which it currently does not.
This is really important for elliot analysis of longterm charts



Yes, please! This is very important / essential!
Everybody, who does a chart analysis in log chart, they need all the tools in LOGMODE,
which has to do with pricedistance
Because in a logchart, all tools must work in the LogMode.
That mean for example:
 the distance form 50 to 100 in Logchart is the same distance from 5.000 to 10.000 or from 5 Million to 10 Million, Because the second value is 2 times so big as the first value. !
Please see my comment:
https://getsatisfaction.com/tradingvi... 











Yes, please. This is critical to identifying turns more accurately especially on timeframes longer than a day.


Any progress on this. Has been lingering for a long time and is pretty crucial for charting.




I see that TradingView replies to so many topics but seems steadfast in not doing anything about this problem. Wish I knew why.


Come on! You just introduced inverted price scales on charts. What a waste of time! You have been asked about this forever. Why aren't you doing anything about this?
Here's a sample of the math to do a fib extension. 3 inputs and an easy calculation.....EASY...
//INPUTS//
Wave0 = input (type=float, defval=1)
Wave1 = input (type=float, defval=1000)
Wave2 = input (type=float, defval=500)
//FIBS
fib0 = 0.000
fib1 = 0.382
fib2 = 0.618
//CALCS
w0= pow(Wave1/Wave0,fib0)*Wave2
w1= pow(Wave1/Wave0,fib1)*Wave2
w2= pow(Wave1/Wave0,fib2)*Wave2 

Medovik first made the request over 4 years ago! 4 years! There have been numerous requests piled on to the original including mine over a year ago. Why am I paying for this service I'm asking myself???


JasperForex did reply to one of the threads a while back and said that they had this set as a task but since then (7 months ago) nothing. Very frustrating.



Hey you guys I found a hack for this. Im a fkn genius It took me 10minutes..
Use fib channel instead of fib retracment tool. If you are in log it will work
Your welcome xD... Now I how to find how to use that to make some sort of fib extension 

Well that's pretty cool! Thanks. Only a partial work around but it's something.
Hey Trading View! Looks like you know how to do the math already. Go ahead and put this in the retracement and extension tools. 

The solution is simple. use the Fib channel instead of the standard fib.




Question for those proposing the fib channel as a workaround. Is it actually displaying the correct logarithmic measurements or just some random level on the chart? Has anyone checked?
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On reading your statement I did my checking too and think that the fib channel tool still gives a good approximation of the log levels. The price levels shown are incorrect but working visually with the cursor still gives a very close estimation. Better than nothing I say although fib extensions are still impossible (until and if ever TV sort out this issue).


The fib channel is correct... as it spatially measures the y axis that represents the rate of appreciation. It really is a simple as that imo.




Please Trading View fix this problem. I have to use a spreadsheet to calculate fib extensions for log scale. It would make my life so much easier.


I've had to mark it myself in the past lol  it is a real pain, totally agree


There is not real log scale for any of the fib tools in TradingView. Not very accurate for long term analysis.


The fib channel is correct... as it spatially measures the y axis that represents the rate of appreciation. It really is a simple as that imo.

I was referring to the fib extension tool. It's linear and not log. It works for short term analysis but not for long term. Other people have developed scripts to accomplish the same. But it would be nice to take some of those scripts and make a tool.


Fib channel is the one to use on the log scale [scroll to the bottom]... for the reasons I've stated above. There simply is no need to develop another tool^^





I'm wondering if it's too difficult to fix this problem as it would have been fixed a long time ago.
It's a shame as Trading View is such a brilliant site! 

Check my chart above using the fib channel on the long term log scale of BTC. No need to develop another tool. This chart spatially measures the y axis... the *rate* of appreciation/ depreciation... and so gives you the *real* measurement of retracement/ consolidation in exponential moves. i've found it a very effective tool in the volatile Crypto market.
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The fib extension [linear] only measures nominal prices.... it can not measure real values. This is why the tool 'bunches up' on longer term volatile assets like Crypto... not to mention bullion.


Do you know MotiveWave? If you know MotiveWave you will understand what we're trying to do when trying to get fib extensions in log. Anything similar as workaround does not even match what we are looking for. I don't mind paying for something like that as long as it's available (I don't want it for free). For now I'll stick to MotiveWave.




I don't know if you out there, Jasper, but TradingView should be able to see how many users feel strongly about this feature. If other charting software can achieve this easily why is it so difficult for Trading View? Any progress reports or developments would be appreciated thanks.



It is fixed now.
Draw a Fibonacci retracement (and extension), open the settings and choose "fib levels based on log scale". 




It is fixed now.
Draw a Fibonacci retracement (and extension), open the settings and choose "fib levels based on log scale". 

WONDERFUL!!!!! I just tested and it is fantastic! This has been a killer bone of complaint for years. But now I can say Ten thousand THANKS!


I am soooo happy this is fixed  it makes such a difference to my analysis.




It is fixed now. My posts above stating that the fib channel is ffectively the log scale for the fib has been proven correct.
Keshav, the standard and the log shoudl be different. Only use the log scale with something that moves exponentially such as Crypto. Using the standard/ nominal only distorts the chart and induces money illusion. 

As described by Christopher, one must understands the reasons for using both scales. In arithmetic scale prices move linearly, it concerns nominal price variations, while in logarithmic scale they move exponentially, it concerns percentage price variations. It has to do with the vertical distance in the chart (and market expectations). And it is not only for Fibonacci retractions and projections, but the whole chart scale.
For instance, in arithmetic scale a price variation from 10 to 20 shows the same vertical distance in the chart as a price variation from 20 to 30, however, in percentage, the first is a 100% increase while the second is a 50% increase. In logarithmic scale the first distance will be the double of the second, reflecting the same percentage price change
A variation from 1.00 to 2.00 has nothing to do with a variation from 10.00 to 11.00 and totally different market expectations. However, arithmetic scale will show both with the same emphasis. Logarithmic scale presents benefits in this case
For small price variations (in percentage), both scales are roughly the same. Preferences for both scales vary among the traders. 

I'd go so far as to suggest that the linear scale becomes redundant with use of the log scale fib  the log scale fib handles short term prices in much the same way as the linear fib... so why bother with both?
