So, for my Technical Analysis project for summer semester, I decided to build a worksheet using Fibonacci and Gann levels after looking up a few online. Most seem pretty cluttered, so I decided to build my own. It's completely subjective, with the user entering the start and end points in the pricing. The support/resistance level percentages use very high numbers in the ratio, so in my personal comparison, it's as accurate as the Think or Swim platform. I did some day trading last month, and noticed that the initial 23.6 level is sometimes too much, so I added additional levels. I also have comments entered trying to explain my logic. I'll upload/post it soon after I refine it. Hopefully I can get some feedback on it.
The overall goal was to make a very simple table that the user can enter the desired prices, and get quick readout of the mathematical levels rather than worry about a large table of dates and OHLC, as I've seen on others. Granted, I'm pretty new at the trading game, so maybe I have some inexperience bias showing, but when I look at a table, I just want the S/R levels for immediate use or evaluation, and not worry about a large amount of data to enter. I also want to be able to enter several price levels, or several securities. For example, my table has 3 sections, one for a retracement from a price spike, one from a price bottom, and one that is completely subject where the user enters any desired price range. No dates or whatever to worry about being entered.
The Gann chart is modeled on the instructions that Contance Brown gives, in her book on CMT. It basically is the same concept, just a pure price level readout. No dates and tick data to clutter the field.
I am very curious if any crypto traders/investors use such techniques. I would be very curious to hear from anyone that does or what the thoughts are regarding potential use.
