TradingView Faces Long-Standing Fibonacci Tool Bug Claims

Reports indicate that TradingView’s Fibonacci retracement tool has been plagued by a bug, as per a tweet from self-proclaimed Elliott wave analyst Cryptoteddybear released on June 13.

The Elliott wave principle is a technique used in technical analysis for forecasting price movements by observing recurring market patterns.

In a YouTube video he published, Cryptoteddybear explains that the tool performs linear calculations on logarithmic charts, a significant flaw for Elliott wave traders. TradingView acknowledged the issue through its official Twitter account and stated that it is under investigation. In response, Cryptoteddybear remarked:

“Thank you @tradingview for finally taking this issue seriously.”

The bug was initially reported over five years ago on consumer platform getsatisfaction, where it appears to have been overlooked by TradingView. A subsequent complaint dated June 3, 2017, received a response from the official TradingView account:

“Hi, you are right, we have a planned task to fix this. Thanks for bringing this to our attention.”

Despite this, the issue remains unresolved. Cryptoteddybear claims that a TradingView representative informed him that they have escalated the priority of addressing the bug.

As noted in a recent Cointelegraph report, TradingView has introduced the “CIX100” index, an AI-powered index for evaluating the top 100 cryptocurrencies and tokens.

Earlier this month, cryptocurrency analytics firm Coin Metrics announced its acquisition of digital asset index company Bletchley Indexes, with plans to launch new smart beta crypto indexes.

As of this writing, TradingView has not yet made a statement regarding the matter.