It appears that TradingView contains a bug in the Fibonacci tool for Elliott waves users.
Nobody in cryto twitter seems to give a shit or to understand how bad the problem is with @tradingview's broken fib tool for people using Elliott waves.I don't care, i know i'm right. Here is how bad it is:https://t.co/[email protected] @SenseiHov @SenseiTutum
— Cryptoteddybear (@cryptoteddyb) June 13, 2019
The Elliott waves theory basically states that stock markets and aren’t all random and have distinguishable patterns. These patterns come in the form of waves, which an experienced trader can learn to detect in order to foresee the market in the near future. Nowadays, it’s a term more commonly used for the technical analysis used to predict prices in the markets.
In the YouTube video, Cryptoteddybear gives an in-depth explanation of how the tool does linear calculations when in logarithmic charts and why this is such a huge issue for Elliott wave traders.
TradingView has a weird way of fixing issues
Last week, Cryptoteddybear’s tweets were answered by TradingView and the issue is now supposedly being investigated.
It appears however, that TradingView took their sweet time to take action. There were reports about the same bug five years ago. What’s even more interesting is that back in 2017, a TradingView employee responded to yet another publication about the bug. The employee replied:
“Hi, you are right, we have a planned task to fix this. Thanks for bringing this to our attention.”
Cryptoteddybear’s recent tweets and video make it perfectly clear that the issue isn’t solved yet.
Hi there,Thanks for all your tweets We are currently investigating the issue and will get back to you ASAP
— TradingView (@tradingview) June 14, 2019
TradingView is one of the platforms which added the “CIX100” index. The CIX100 is a revolutionary AI-powered index for the top 100 cryptocurrencies and tokens.
AI-powered indexes might sound groundbreaking now, but in about 10 to 15 years, they would probably make up the vast majority of indexes out there. In the near future, trading will be done almost entirely by AIs.
Earlier this month, Coin Metrics revealed the acquisition of the asset index firm Bletchley Indexes. Coin Metrics hopes to use this acquisition to launch crypto smart beta indexes in the near future.
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