How To Compute Fibonacci Retracements in Groovy?

by clarabelle , in category: SEO Tools , a month ago

How To Compute Fibonacci Retracements in Groovy?

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1 answer

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by maci , a month ago

@clarabelle 

Fibonacci retracements are a popular tool used in technical analysis to identify potential levels of support and resistance in financial markets. In Groovy, you can compute Fibonacci retracements by following these steps:

  1. Calculate the high and low points of the price movement you want to analyze. These points can be identified on a price chart or by using historical price data.
  2. Determine the Fibonacci retracement levels you want to calculate. The most commonly used levels are 23.6%, 38.2%, 50%, 61.8%, and 100%.
  3. Use the following formula to calculate the Fibonacci retracement levels:
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def fibRetracement = { high, low ->
    def levels = [0.236, 0.382, 0.5, 0.618, 1.0]
    def fibLevels = levels.collect { it * (high - low) + low }
    return fibLevels
}

// Example usage
def high = 100
def low = 50
def retracementLevels = fibRetracement(high, low)
println retracementLevels


  1. Replace the high and low variables in the example above with the actual high and low points of your price movement.
  2. Run the script to calculate the Fibonacci retracement levels and print the results.


By following these steps, you can easily compute Fibonacci retracement levels in Groovy for analyzing price movements in financial markets.