TradingView CTO Confirms Reports Of Bug In Their Fibonacci Retracement Tool Were Inaccurate
- TadingView’s trading tools work properly
- Users accused the platform of having a bug in its Fibonacci trading tool
- The CTO of TradingView, one of the most popular websites for traders and analysts, explained that the reports of a bug in their Fibonacci retracement tool was broken. A few days ago, a crypto user shared on Twitter a video in which he shows why it seemed to be a problem with TradingView’s broken Fibonacci tool.
Fibonacci Retracement Tool Works Properly
A few days ago, the same crypto trader explained that TradingView’s Fib tool works perfectly fine for calculation on arithmetic scale and is therefore fine for short Time Frames calculations.
Just to make things clear about @tradingview's fib tool. It works perfectly fine for calculation on arithmetic scale and is therefore fine for short Time Frames calculations. It is doing what it is supposed to do for linear calculations.
— 𝐂𝐫𝐲𝐩𝐭𝐨𝐄𝐥𝐥𝐢𝐨𝐭𝐭 🍀 (@cryptoteddyb) June 18, 2019
Thus, he claims that saying that there is a bug on the platform is an overstatement. As he explained, the log scale option fo Fib tool is what it says it is. The option is more adapted for longer time frames in which percentual changes are more important, and this is something that TradingView will be implementing to make more accurate Fib calculations on long time frames.
The CTO of TradingView, Constantine Ivanov, claimed that the other charting platforms such as eSignal, NinjaTrader, ThinkOrSwim do not have this feature either. Nonetheless, he explained that the firm is working on the implementation.
On the matter, he commented:
“There is no ground to consider the alternative calculation method as the only correct one. However, we are looking forward to enabling the alternative method as an option, since it is requested by users.”
At the same time, he said that if a trader prefers a certain calculation method and deems another one incorrect it does not mean that he should not be responsible for his trades.
TradingView is one of the most popular platforms for investors and chartists to analyse the crypto market and different digital currencies.