TradingView is one of the most important tools for traders in financial markets, offering a huge number of important tools for technical analysis and historical data.
Recently a trader discovered a fundamental flaw in the TradingView application and posted a video via the Twitter platform that clearly shows the bugs.
Teddy Bear explained the problem when he presented a graph of the ethereum against the dollar via the TradingView application and it appears that the Fibonacci index is flawed when used with Elliott waves.
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/2m0bRHENFV@tradedevils @SenseiHov @SenseiTutum
— Cryptoteddybear (@cryptoteddyb) June 13, 2019
It should be noted that this problem has been reported in TradingView for nearly five years, since the calculation of the percentages of the Fibonacci index contains an error when used with the Elliott Wave Index.
The company promised to repair and remedy this error, but this trader revealed that the defect still exists and has not been fixed.
This imbalance affects both technical analysis by Elliott waves and the Fibonacci index, confirmed by Teddy Bear, who pointed out that it is certain that a number of traders lost their money due to this technical error.
The company reacted to the tweet and said it was currently working to verify the bugs, and an update on the technical flaw is expected to be published soon.
— Cryptoteddybear (@cryptoteddyb) June 14, 2019
Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view