Recently, there seems to be a dispute regarding a reported bug in TradingView’s Fibonacci retracement tool, as claimed by a well-known Elliott wave analyst, Cryptoteddybear, on Twitter. In his video, the analyst pointed out that the tool conducts linear calculations when used on logarithmic charts, which he considers problematic for Elliott wave traders. While the company behind TradingView acknowledged the potential issue on their Twitter account, noting that it is currently under investigation, Cryptoteddybear also stated that it has been an ongoing problem since 2014.
Interestingly, this isn’t the first time this issue has been raised. There have been earlier reports on consumer community platform get satisfaction, dating back to November 2014, but there seems to be no resolution in sight. According to Cryptoteddybear, a representative from TradingView has asked the technicians to prioritize fixing this bug more urgently.
It’s worth noting that TradingView recently added the CIX100 index, an AI-powered index for the top 100 performing cryptocurrencies and tokens, as reported by Cointelegraph. Additionally, crypto analytics company Coin Metrics announced earlier this month that it has acquired digital asset index firm Bletchley Indexes and plans to launch crypto smart beta indexes.
At the time of writing, TradingView has not yet provided a comment on this issue.
Update: The CTO of TradingView later clarified to Cointelegraph that the initial reports of a bug were inaccurate, and the Twitter user partially withdrew his earlier claims that the tool was broken.