 XLFibonacci gives you the tools you need to Fibonacci techniques. These are some of the most esoteric, yet amazingly powerful techniques available. 
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It shows up everywhere in nature. Some believe markets are a reflection of nature. Why should we be surprised when it shows up in markets too? The Greeks called it phi (Φ) and built into their architecture. Later Italian Mathematician: Leonardo da Pisa (b. c.1170, d. 1240) wrote about it In Liber abaci (1202, 2d ed. 1228), which was for centuries the standard work on algebra and arithmetic. In Practica geometriae (1220) he organized what was then known about geometry and trigonometry including an infinite number series called "fibonacci" which occurs in higher mathematics: (0,1,2,3,5,8,13…) where each number is the sum of the two previous and the ratio of any two adjacent numbers is nearly 1.618 Φ. Leonardo da Pisa came to be known as Leonardo Fibonacci.
Phi or Φ is the (only) ratio where the smaller is to the larger as the larger is to the whole (smaller+larger). What? Its 1.618 rounded off or sometimes the inverse of that which is: 0.618. When studying markets analysts sometimes use phi raised to powers such as the square (2) and square root (½).
XLFibonacci gives you some amazing analysis tools such as: growth spirals, ellipses, grids and angles. XLFibonacci is design to only be used with the event enabled HLC_Chart.xlt template which is included.
All of the functions in this addin are accessible from the Fibonacci group on the XLTrader Tab. The toolset has icons for moving, rotating, resizing, changing exponents (in the case of the spirals). All overlays are mathematically defined and scalable.
Concentric Circles
A concentric circles tool has been added to XLFibonacci. You can choose a variety of preprogrammed increments (spacing between circles) or a user specified constant increment. You can also easily change the parameters on the data sheet after the circles have been drawn and translate them as well. The circles are mathematically defined not bit map overlays.Flower of Life
Here is a powerful new pattern consisting of 19 circles. Its been said that the Flower of life is the wellspring of all sacred geometry. It is the female equivalent to Gann's hardedgedstraightline grids. You can change the parameters on the data sheet after the flower of life has been drawn and you can easly translate it to another location using the icons on the fibonacci group. This one is fun to use.Single Point Growth Spirals
I don't remember where it was I first encountered growth spirals applied to market charts. Maybe it was a Trader's World article. Anyway, I soon realized it was a path I needed to explore further. The math for creating a Logrithmic spiral was explained by Jean Babtiste Fourier (from the Fourier family of Mathematicians and Scientists). Its not very complex either:1. Len = Ae^{iθ} where Len is the Radial distance from the center to a point on the spiral path A is the initial length e is the base of the natural logrithm =2.71… i is an exponent or growth factor and θ is the angle in radians
You must find the growth rate and spiral that best fits your market by trialanderror. By varing the A, i and θ all sorts of interesting spirals are possible. Say for instance you wanted a spiral that grew by the ratio of the square root of 2 (1.414) which is sometime refered to as: "squaring the circle". Then you solve equation 1 and find you need an exponent of: i= 0.055. Likewise if you wanted your spiral radius to increase by 1.618 every turn, you would enter and exponent of 0.0766.
ln(1.414) / (2 Π) = 0.0552 where: ln is the natural (base e) logrithm Π is 3.14159… or pi. 2Π radians per revolution Similarly ln(1.618) / (2 Π) = 0.0766
Then there is the Archemedies spiral. This one does not grow exponentially the way the logrithmic spiral does. There is a constant step increase in the radius for each turn. Think of a say a cycle that has regular intervals. That is what an Archemedies spiral is like.
Lastly we have the spiral Mirabilis (which BTW is also what Fourier called his Logrithmic spriral). This is my discovery. Only XLFibonacci has spiral Mirabilis and the mathematics behind its growth sequence will remain proprietary. But you can think of it as a hybrid between the Archemedies and the Logrithmic spirals. "Mirabilis" is often "miraculous". It is my favorite and practically the only spiral I use.
You activate the single point spiral function by clicking on the icon from the toolbar. First it asks you to click on a point that becomes the center or "focus" of the spiral, You are then asked to confirm your selection and taken to the data sheet where a form pops up with the focus date and price information already filled in.
The form is where you specify the exponent described above. At this time you can also change the scale factor to something other than 1 (should that be the case for the market you are trading), the starting angle and the X/Y scale. Don't worry if you don't get these parameters correct the first time. They can easily be changed later.
After you've specified which type of spiral you want (Logrithmic, Archemedies or Mirabilis), set the paramters on the form you your liking, specified the column on the data sheet where the calculations will be stored, the next and final step is to press the "calculate" button. The spiral will automatically be plotted on your chart. As mentioned above, you can click on the toolbar icons to move, rotate and even animate the spiral. Take a look at the toolbar image above. See the lightswitch? That lets you change the direction from clockwise to counterclockwise and vise versa.
You can put as many spirals on your chart as you have columns for on your data sheet (lots). Often times you'll discover that CIT's happen right where there is a nexus of intersecting sprirals. These become powerful "points of force" in pricetime which seem to suck price right in. (Many more examples of spiral charts that can be viewed by click here.
That is the whole point of Technical Analysis. We are trying to anticipate future market directions so we can respond appropriately when the time comes… always knowing of course that we can and will be wrong and therefore trade with stops. But when we're right… oh how fun it is!
φ Spiral Combination
One of the four spiral options is this popular pattern by Earik Beann. It consists of four logarithmic spirals (which have a growth factor of Φ) and four straight lines which intersect at the focus. With practice, when properly aligned on a properly scaled chart, this pattern helps locate future turning points with unparalleled precision. Once overlayed on your chart, by clicking the icons in the toolset the pattern can be easily interactively scaled, rotated and translated and since its mathematically defined (not a bit map overlay) it will scale properly when your chart's axes change.
Earik Beann considers this pattern; one of his most powerful tools. His book, The Fibonacci Vortex Handbook talks the theory behind the pattern, how it is constructed, how to forecast and trade with it. It includes chapters on chart scaling, sizing the vortex, time targets, price targets, and time/price squares, plus example charts.
Ellipses
Anybody who finds themselves getting sucked into the world of technical analysis, particularly the more esoteric elements of it such as Gann, eventually encounters the ellipse. George Bayer, a contemporary of WD Gann wrote extensively about trading with ellipse. Bradley Cowan, student of Gann, also talks extensively about price time vectors or PTV™'s (a term he has trademarked). What better way to study Cowan's PTV's on your charts than with ellipses where the major and minor axis' are the same i.e. a circle? Any point on that circle has the same PTV lenth as the two points used to generate it.The ellipse tools in this addin give you complete flexibilty. You can even see if 4 points on your chart lie on an ellipse. If they do, they form the basis of a powerful "nonEuclidian" trend line that the market tends to respect. One market technician, Mr. Brian K. Lee, calls this his "Stealth Curve". (At least, thats what I think they are because he won't say exactly. Anyway… he's crazy about stealth curves (ellipses); perhaps you've read his Stealth Curve word document.
The pictures above really don't do the ellipse tool justice. That said, I hope they do give you an idea what this tools is about. You can rotate animate change the scale so on an so forth any ellipse once its been drawn. You have complete control over the ratio of the axis and can set it to 1 and work with circles (even if your chart is not scaled properly) if you so desire. Its everything I ever wanted in an ellipse tool (because I made it for myself).
Fibonacci Fans
Fibonacci fans are a take off on Gann Fans. Some markets respond better to fib fans than to Gann Fans. Starting at a high or a low (or at zero below a significant high or low!) Fib. Fans are a series of lines having slopes which are a function of Φ.
With the Fib. Fan tool you can specifiy which angles you want calculated and the scale if other than 1. Each angle will take up a column in the data sheet. After the calculations have been done, values are pasted into all but the last cell in each column. This helps to avoid spreadsheet bloat. Leaving the formula in the last cell lets you easily clickanddrag the formula down when you add more data.
Fibonacci Grids
There are two fib grid functions: single point and two point. If you choose the single point fib. grid, the price of the point you select is used as the basis of both time and the price fib. expansion. If you choose the two point fib. grid, the price (and time) differences between the two points you select are used as the basis for the fib. expansion. The two point grid can also be rotated! Nowhere else will you find that feature.
Any two points on your price chart yeild a time span and a price span. We can increment those spans by Φ or a derivative there of and form a grid of times and prices in the future where trend change is likely. Its uncanny how often the market will turn on a Fibonacci increment from a previous swing. Unless you have a tool like the fibonacci grid its unlikely you will be able to recognize them until long after they've come and gone.
The Fibonacci grid tool is accessible from the toolbar. You are asked to click on and confirm two points. The macro then takes you to the data sheet were you are asked to specify which column the grid data will be place in and the increment you desire. The program then automatically draws the grid on the chart. The charts above show some straight up and down fibonacci grids. But who says they must be ploted that way?
With XLFibonacci you have the option to letting the grid rotate as was done in the example charts above. No other software that I am aware of lets you do this. Depending on the order in which you select the points the grid extends up or down with the increment specified. In no time at all you will find a set of grids that correlate with market swings projecting off into the future. You do not want to be without this tool.