Update

The CTO of TradingView has indicated that the bug reports are inaccurate, and the user has since partially retracted his claims that the tool is broken.

A prominent chart analysis platform, TradingView, is alleged to have a bug within its Fibonacci retracement tool, as stated by a self-appointed certified Elliott wave analyst, Cryptoteddybear, in a tweet on June 13.

The Elliott wave principle involves analyzing patterns to predict price movements in financial markets. In a YouTube video, Cryptoteddybear detailed that the Fibonacci tool performs linear calculations on logarithmic charts, which poses a significant challenge for Elliott wave traders. The official Twitter account for TradingView responded, confirming an investigation into the issue. In return, Cryptoteddybear expressed gratitude, saying:

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

Reports of this bug date back over five years to November 2014, when complaints were initially posted on a consumer platform. A subsequent report from June 3, 2017, elicited a reply from TradingView’s official account, acknowledging the issue:

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

Despite this acknowledgment, the issue remains unresolved. Cryptoteddybear later stated that a representative mentioned he urged technicians to prioritize fixing it.

Recently, Cointelegraph highlighted that TradingView has integrated the “CIX100” index, an AI-driven index tracking the 100 top-performing cryptocurrencies and tokens. Additionally, Coin Metrics announced its acquisition of Bletchley Indexes, aiming to launch crypto smart beta indexes.

As of now, TradingView has not issued a comment on the matter.