The Candlestick X-Ray Indicator Package: State-of-the-Art Pattern Detection Page 3 An Overview of the Candlestick X-Ray Features Page 5 The Complete List of Candlestick Patterns: 92 Fibonacci-Based Patterns Page 6 Candlestick X-Ray PaintBar: Color-Coded Candlestick Patterns Page 7 - Configuring and Customizing the PaintBar Page 8 Candlestick X-Ray Indicator: Detect Any Candlestick Pattern Page 9 - Configuring and Customizing the Indicator Page 10 Automated Scanning Capabilities: Scanning for Crossovers & Divergences Page 11 - NinjaTrader Market Analyzer Page 11 - TradeStation RadarScreen Page 13 - TradeStation Scanner Tool Page 15 Frequently Occurring Intra-Day Patterns Page 16 Our Favorite Candlestick Patterns Page 17 Expert Tips & Advice: Scanning for Crossovers & Divergences Page 18 - Expert Tip #1: Candlestick Patterns Establish Strong S/R Levels Page 18 - Expert Tip #2: Incorporate Volume Analysis with Candlestick Patterns Page 19 - Expert Tip #3: Pay Close Attention to Dojis after Rallies & Selloffs Page 20 - Expert Tip #4: Use Patterns to Define Profit-Target & Stop-Loss Levels Page 21 Continued on the Next Page 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 1
Superior Coding, Formulas, and Indicators: Filtering Out Weak Patterns Page 22 - Problem #1: Missed Signals on Big and Small Stocks Page 22 - Problem #2: Incorrect Formulas & Labeling of Candlestick Patterns Page 24 Harnessing the Power of Fibonacci: The Science behind our Formulas Page 25 Superior Customer Support Page 27 Risk Disclosure Statement Page 28 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 2
The Candlestick X-Ray is the most comprehensive, feature-rich collection of candlestick pattern Indicators on the commercial market. Whether you're interested in the most common or advanced patterns the Indicator, PaintBar, and Scanner detect over 90 unique candlestick patterns significantly more than any other indicator or software. The Candlestick X-Ray outperforms all competitors by using strictly coded, Fibonacci-based formulas that filter out low-quality patterns. This ensures that only the strongest candlestick patterns are detected avoiding weak, unreliable patterns that plague other software and indicators. Other candlestick tools on the market lack a proper understanding of the rules behind each pattern resulting in incorrect formulas. This can have disastrous consequences if you're making trading decisions based on false patterns. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 3
To solve this problem, we devised each pattern's formula after studying all the candlestick-related literature that we could get our hands on. Since many candlestick patterns and their respective formulas are neither qualitatively defined nor uniformly agreed amongst candlestick "experts", we have combined their various interpretations to determine the specific rules for each pattern. We also went a step further to incorporate Fibonacci numbers and ratios into many of our formulas creating multi-faceted, extremely powerful candlestick pattern Indicators. (More detailed information on pages 22-26). The Candlestick X-Ray Indicator Package includes: 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 4
- Our 92 candlestick patterns is significantly more than ANY other candlestick-related Indicators or software nothing else even comes close. - Our strictly coded, Fibonacci-based formulas filter out low-quality patterns. This ensures that only the strongest candlestick patterns are detected avoiding weak, unreliable and "border-line" patterns that plague other software and indicators. - The most important and valuable aspect of any candlestick pattern software is the ability to scan for patterns and signals. We include specialized scanner Indicators and templates that are explicitly designed to scan any list of symbols for any and all candlestick patterns. - Users can enable or disable any of the candlestick patterns to reduce chart clutter and only be notified of the most important patterns. All colors and text labels are also fully customizable to give you complete control. - Users can configure alerts for any patterns, allowing for audio, visual, and email alerts and notifications to ensure that you won t miss any signals. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 5
Abandoned Baby Bull Abandoned Baby Bear Advance Block Bullish Engulfing Bearish Engulfing Bullish Kicking Bearish Kicking Breakaway Bullish Breakaway Bearish Concealed Baby Swallow Bull Concealed Baby Swallow Bear Dark Cloud Cover Deliberation Bull Deliberation Bear Descending Hawk Descent Block Doji Perfect Doji Dragonfly Evening Doji Star Evening Star Falling Three Method Four Price Doji Gravestone Hammer Perfect Hammer Hanging Man Perfect Hang Man Inverted Hammer Perfect Inverted Hammer Harami Bullish Harami Bearish Harami Cross High Price Gap Bull High Wave Homing Pigeon Bull In Neck On Neck Ladder Bottom Ladder Top Low Price Gap Bear Marubozu White Marubozu Black Matching Low Matching High Mat Hold Bullish Mat Hold Bearish Meeting Lines Bull Meeting Lines Bear Morning Doji Star Morning Star Piercing Line Rising Three Method Separating Lines Bull Separating Lines Bear Shooting Star Perfect Shooting Star Side by Side Bull Side by Side Bear Stick Sandwich Bull Stick Sandwich Bear Squeeze Alert Bull Squeeze Alert Bear Three Inside Up Three Inside Down Three Outside Up Three Outside Down Three White Soldiers Three Identical Soldiers Three Black Crows Three Identical Crows Three Line Strike Bull Three Line Strike Bear Three Stars North Three Stars South Three River Bottom Three Mountain Top Thrusting Bull Thrusting Bear Tidal Wave Tri Star Bullish Tri Star Bearish Tweezer Top Tweezer Bottom Two Crows Two Rabbits Upside Gap Two Rabbits Downside Gap Two Crows Upside Gap Three Method Downside Gap Three Method Upside Tasuki Gap Downside Tasuki Gap 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 6
The Candlestick X-Ray PaintBar color-codes the price bars and provides a text label of the pattern name whenever a valid candlestick pattern is detected. It is fully customizable, allowing you to choose whether to show all patterns or only the specific patterns that you want to see. It comes with a default setting of Cyan for bullish patterns, Magenta for bearish patterns and Yellow for indecisive or neutral patterns (since most traders use green and red colored bars to display price action). 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 7
*** Go to Format Symbol - Scaling and make Sub-Graph Margins 10% or more on both the top and bottom so that all the patterns and text will fit on your chart. (this tip is for TradeStation and MultiCharts users only) *** To disable any of the patterns, simply go to the tool s Format / Inputs screen where you will see each pattern listed alphabetically with On/Off and a corresponding value of 1 next to it. To disable a pattern so that both its bar color and text label are no longer displayed, change the value to 0. *** To change the color of the bar or the text for any of the patterns, simply go to the tool s Format / Inputs screen where you will see each pattern listed alphabetically with a corresponding color next to it. Each pattern has two color settings: one setting for the bar color and one setting for the text color. This enables each user to deactivate or remove the text labels for any patterns that they do not want, as well as the ability to change the color of the bar when a valid pattern occurs. Choose each color you would like to use by replacing the text with your new color choice. If you would only like to remove the text labels from some patterns but want the bar to be a different color, you may do so by changing the text color to match your background (most likely black ). This is particularly useful if you decide to remove excessive engulfing or advancing patterns that can occur within small intraday timeframes. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 8
Candlestick X-Ray Indicator plots color-coded histogram bars (vertical bars) in the subpanel when a valid candlestick pattern is detected. It s a bit less obtrusive than the PaintBar text tool and can easily be changed to display all patterns or only the specific patterns that you want to see. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 9
*** To disable any of the patterns, simply go to the tool s Format / Inputs screen where you will see each pattern listed alphabetically with On/Off and a corresponding value of 1 next to it. To disable a pattern so that both its bar color and text label are no longer displayed, change the value to 0. This is particularly useful if you decide to remove excessive engulfing or advancing patterns that can occur within small intraday timeframes. For example, if you only wish to know when various dojis or marubozus occur, you can simply change the On/Off values of all the other patterns to 0. *** To change the color for any of the patterns, simply go to the tool s Format / Inputs screen where you will see each pattern listed alphabetically with a corresponding color next to it. Choose the color you would like to use for each pattern by replacing the text with your new color choice. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 10
The Candlestick X-Ray also includes a special pre-formatted Market Analyzer Indicator and template for all NinjaTrader users. All of the columns, colors, and text are completely customizable so that you can personalize it to your own preferences. Using the Candlestick X-Ray with the Market Analyzer allows you to quickly scan an entire list of symbols for all candlestick patterns in just seconds! 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 11
A special pre-formatted Market Analyzer template is included for all NinjaTrader users. If you would like to create your own templates, you must adhere to the following values when setting up your own cell conditions: Abandoned Baby Bull = 100 Abandoned Baby Bear = 99 Advance Block = 98 Bullish Engulfing = 97 Bearish Engulfing = 96 Bullish Kicking = 95 Bearish Kicking = 94 Breakaway Bullish = 93 Breakaway Bearish = 92 Conceal Baby Swallow Bull = 91 Conceal Baby Swallow Bear = 90 Dark Cloud Cover = 89 Deliberation Bull = 88 Deliberation Bear = 87 Descending Hawk = 86 Descent Block = 85 Doji = 83 Perfect Doji = 84 Dragonfly = 82 Evening Doji Star = 81 Evening Star = 80 Falling Three Method = 79 Four Price Doji = 78 Gravestone = 77 Hammer = 75 Perfect Hammer = 76 Hanging Man = 73 Perfect Hang Man = 74 Inverted Hammer = 71 Perfect Inverted Hammer = 72 Harami Bullish = 69 Harami Bearish = 68 Harami Cross = 70 High Price Gap Bull = 67 High Wave = 66 Homing Pigeon Bull = 65 In Neck = 64 On Neck = 63 Ladder Bottom = 62 Ladder Top = 61 Low Price Gap Bear = 60 Marubozu White = 59 Marubozu Black = 58 Matching Low = 57 Matching High = 56 Mat Hold Bullish = 55 Mat Hold Bearish = 54 Meeting Lines Bull = 53 Meeting Lines Bear = 52 Morning Doji Star = 51 Morning Star = 50 Piercing Line = 49 Rising Three Method = 48 Separating Lines Bull = 47 Separating Lines Bear = 46 Shooting Star = 44 Perfect Shooting Star = 45 Side by Side Bull = 43 Side by Side Bear = 42 Stick Sandwich Bull = 41 Stick Sandwich Bear = 40 Squeeze Alert Bull = 39 Squeeze Alert Bear = 38 Three Inside Up = 37 Three Inside Down = 36 Three Outside Up = 35 Three Outside Down = 34 Three White Soldiers = 33 Three Identical Soldiers = 32 Three Black Crows = 31 Three Identical Crows = 30 Three Line Strike Bull = 29 Three Line Strike Bear = 28 Three Stars South = 27 Three Stars North = 26 Three River Bottom = 25 Three Mountain Top = 24 Thrusting Bull = 23 Thrusting Bear = 22 Tidal Wave = 21 Tri Star Bullish = 20 Tri Star Bearish = 19 Tweezer Bottom = 18 Tweezer Top = 17 Two Rabbits = 16 Two Crows = 15 Downside Gap Two Crows = 14 Upside Gap Two Rabbits = 13 Up Gap Three Method = 12 Down Gap Three Method = 11 Upside Tasuki Gap = 10 Downside Tasuki Gap = 9 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 12
The Candlestick X-Ray also includes a special pre-formatted RadarScreen Indicator and template for all TradeStation users. All of the columns, colors, and text are completely customizable so that you can personalize it to your own preferences. Using the Candlestick X-Ray with the RadarScreen allows you to quickly scan an entire list of symbols for all candlestick patterns in just seconds! 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 13
The Candlestick X-Ray also includes a special pre-formatted Market Scanner Indicator and template for all MultiCharts users. All of the columns, colors, and text are completely customizable so that you can personalize it to your own preferences. Using the Candlestick X-Ray with the Market Scanner allows you to quickly scan an entire list of symbols for all candlestick patterns in just seconds! 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 14
We have found that scanning intraday for our favorite patterns can be quite useful as an early warning detection system, since the Candlestick X-Ray Scanner can display valid daily patterns before the trading day has ended. In other words, you can see which stocks exhibit valid pattern setups at 12 PM (EST) rather than having to wait for the close at the end of the trading day. *** While this screening technique allows for aggressive pre-emptive strategies, always exercise extreme caution when doing so because a pattern that appears valid at 12 PM (EST) may prove to be invalid at 4 PM on close. We prefer using the Candlestick X-Ray Scanner to keep an eye on which patterns are developing within a specific group of key issues at around 10:30 10:45 am, 2:15 2:30 pm and once again at 3:35 3:50 pm (EST). 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 15
To avoid excessive chart clutter and unnecessary signals when analyzing small intraday timeframes that are below 5 minute or 15 minute intervals, we recommended eliminating patterns that can occur too frequently, such as: Bullish & Bearish Engulfing; Bullish & Bearish Marubozu; Three Inside Up, Three Inside Down; Three Outside Up, Three Outside Down; Three White Soldiers / Three Black Crows; Matching High / Matching Low; Tweezer Top / Tweezer Bottom; 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 16
Abandoned Baby, Morning Doji Star & Evening Doji Star - High probability reversal patterns with expanding volatility and explosive price action Advance Block, Descent Block, Deliberation - These patterns often coincide with significantly overbought / oversold conditions, signaling that trend momentum is markedly waning High Wave - These patterns often coincide with significant turning points in market character, reflecting drastic changes in price action (e.g. March 6 th, 2009) Homing Pigeon & Descending Hawk - Provide extraordinary risk / reward ratios Piercing Line, Dark Cloud Cover, Thrusting - High probability reversal patterns 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 17
- Wait for price to revert to the support/resistance established where the pattern occurred and enter there for a greater risk/reward ratio. If price fails to revert, leaving you with a missed trade, OH WELL! There is no harm and no foul in missing a trade when it fails to meet your risk control parameters, regardless of how it plays out. By exercising technical discipline and emotional patience with your candlestick pattern trading, you can significantly increase both your success rate and risk/reward ratio. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 18
- It s a general rule that candlestick patterns which occur on increased volume exhibit greater probabilities for follow-through. If a valid pattern setup looks good but volume is either suspiciously lacking or utterly unconvincing, prudence warrants exercising caution. This simple, straightforward tip can greatly enhance your candlestick analysis. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 19
- Pay more attention to dojis which occur after prolonged or extended rallies (possible tops) rather than those occurring after extensive sell-offs (possible bottoms). While it is fundamentally correct that going up simply requires greater cumulative buying than selling, we have observed that doji signals exhibit much greater probabilistic predictive power and hence effective value for traders when they follow exhaustive rallies. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 20
- You can project effective price targets and stop loss levels when employing many candlestick patterns. Placing your stop either just underneath the low or high of the respective pattern (depending on bullish or bearish character) is a simple, straightforward way to effectively manage risk and minimize time decay. For your price target, adding or subtracting the pattern s High-Low range to the top or bottom of the breakout level is another simple and straightforward way to calculate a realistically achievable price target. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 21
All doji-based as well as matching high or low patterns that require an equal open, high, low and/or close are simply impossible to code for both high-priced and low-priced issues when utilizing formulas which require precision; this prevents many candlestick patterns from registering valid signals on high-priced stocks, penny stocks, bonds, futures, or options. We believe that our coding has solved this problem by requiring the definition of a doji and a matching high or low to have a real body (Open - Close) that is less than approximately 13% of the current bar s trading range (High-Low). This allows for high-priced stocks (e.g. several hundred dollars) such as GOOG or PCLN to exhibit effective signals for these patterns in situations where simple coding falls short. We have also provided many of the original patterns, in addition to our custom modified patterns. *** Patterns with an = after them are the textbook codes that require exact Opens / Closes / Highs / Lows. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 22
GOOG opens at $400.50 and closes at $400.00, where the Low is 397.00 and the High is 405.00. Simple Coding: fails to classify as a Doji day; no pattern is registered. Fibozachi Coding: recognizes that the 50-cent real body is only 6.25% of the High-Low range, thereby correctly registering as a Doji day. FNM opens at $1.10 and closes at $1.09, where the Low is 1.00 and the High is 1.20. Simple Coding: fails to classify as a Doji day; no pattern is registered. Fibozachi Coding: recognizes that the 1-cent real body is only 5% of the High- Low range, thereby correctly registering as a Doji day. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 23
Many other candlestick pattern tools on the market have fundamental misconceptions about candlestick patterns and incorrect formulas of certain patterns; as a result, they plot invalid patterns and often miss the good ones. As systematic candlestick traders, we find such programming errors utterly unacceptable. We have painstakingly proofed every one of the 156,335 characters within each of the 4,445 specific lines of code that comprise the Candlestick X- Ray Package and take great pride in the quality of our work. Understanding the inherent price action within specific patterns adds a critical component to one s knowledge of candlesticks. Employing such valuable information to your candlestick analysis can significantly enhance the effectiveness of their predictive value. Simple Coding: incorrectly plots the hammer, inverted hammer, hanging man and shooting star, due to the lack of an added rule requiring that an uptrend or downtrend MUST be present. (Hammers that register after a selloff is much more valuable than a hammer that registers during a rally). Fibozachi Coding: includes an added rule, where the midpoint of the current bar must also be above or below the 8-day SMA, which confirms the presence of an uptrend / downtrend. This helps to properly validate candlestick pattern signals. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 24
We have devised each formula within our candlestick patterns in a comprehensive fashion. Since many candlestick patterns and their respective formulas are neither qualitatively defined nor uniformly agreed upon by the several seminal authors of candlestick literature, we have both manually and mathematically assessed the various interpretations to determine the formula and rules behind each pattern. Additionally, we have incorporated Fibonacci numbers and their derivative ratios into the vast majority of our uniquely coded candlestick pattern formulas, resulting in the creation of multifaceted and extremely powerful candlestick pattern Indicators. The following is a prime example of our initial frustration during the early stages of the developmental process: Author X states that a hammer s lower shadow must be at least 2 times the length of its real body, where author Y states that a hammer s lower shadow must be at least 3 times the length of its real body. If we follow the guideline of Author X we catch all signals, though they may be probabilistically weaker than those of Author Y. If we follow the guideline of Author Y we may miss some signals, though they may be probabilistically greater than those of Author X. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 25
Rather than relying on amorphous guidelines, our rule states that a hammer s lower shadow must be at least 2.236 times the length of its real body. We also define that the Upper Shadow * 7.618 < High-Low Range; in other words, the upper shadow must be less than 13.13% of the bar s entire range for the hammer pattern to verifiably confirm itself, thereby forming a valid signal. *** Our Standard Doji, Hammer, Inverted Hammer, Hanging Man, and Shooting Star Patterns employ the 13% Rule, where Open - Close <= 13% of the Range. We have also included Perfect Pattern versions (for classic candlestick pattern traders), wherever applicable, which employ a 3% Rule in order to isolate only the strongest, most textbook patterns that the market has to offer. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 26
Have a question about the Candlestick X-Ray Indicator Package? Contact us at support@fibozachi.com. We take great pride in our customer support and are happy to help our fellow traders! 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 27
The terms Company, us or we refer to Fibozachi.com, its parent company Fibozachi LLC, and all subsidiaries, affiliates, officers or employees therein. The term you refers to the user or customer of Fibozachi.com. The terms Content and Information refer to the indicators, tools, strategies, techniques, systems, manuals, data, communications and any other associated products or material of the Company. License: You are purchasing a single user license. You may not: copy, modify, publish, retransmit, participate in the transfer or sale of, distribute, perform, display, or create derivative works from, any of the Content or Information in any way. Disclaimer: All Content and Information provided is for educational purposes only. Fibozachi.com and Fibozachi LLC (the Company ) is not an investment advisory service, broker-dealer, commodity trading advisor, legal advisor, tax advisor, or registered investment advisor, and does not purport to tell or suggest which commodities, currencies or securities customers should buy or sell for themselves. The affiliates, employees or officers of the Company may hold positions in the commodities, currencies or securities discussed here. You understand and acknowledge that there is a high degree of risk involved in trading commodities, currencies or securities. You also understand and acknowledge that there is an extremely high degree of risk involved in trading leveraged vehicles such as futures or options, where you can lose more than the initial sum of your investment. The Company, its subsidiaries, affiliates, officers and employees assume no responsibility or liability for your trading or investment results. It should not be assumed that the indicators, tools, strategies, techniques, systems, manuals, data, communications or any other associated products and material of the Company, collectively the Content and Information, presented in its products or services will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns, which may or may not be realized by you. In addition, the articles, blogs, chat, columns, indicators, methods, strategies, systems, techniques, tools, and all other features of Company's website (collectively, the Information ) are provided for educational purposes only and should not be construed as investment advice. Any articles, blogs, chat, columns, comments, discussions, drawings, and examples, including any other items intended to illustrate Information presented on Company's website, are for educational purposes only; such are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding any investment. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 28
IN CONSIDERING WHETHER TO TRADE, YOU SHOULD BE AWARE OF THE FOLLOWING: HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. TRADING IS AN EXTREMELY DIFFICULT PROBABILISTIC ENDEAVOR THAT REQUIRES TECHNICAL SKILL AND EMOTIONAL DISCIPLINE AT THE VERY MINIMUM. EVEN A GREAT TRADER WITH EXCELLENT ANALYSIS, RESOURCES, TOOLS, TECHNIQUES, STRATEGIES, PLANS, CONTINGENCIES, AND EXPLICITLY DEFINED RULES FOR MANAGING RISK EXPOSURE IS OFTEN WRONG. THERE ALWAYS REMAIN REAL AND UNQUANTIFIABLE RISKS SUCH AS GOVERNMENT INTERVENTION OF RULE / LAW CHANGES. RISK PREVENTION MEASURES SUCH AS PROTECTIVE STOPS DO NOT PREVENT THE RISK OF GAP OPENINGS OR LOCK-LIMIT MOVES. YOU AGREE THAT NEITHER FIBOZACHI LLC, NOR ITS SUBSIDIARIES, AFFILIATES, OFFICERS OR EMPLOYEES, SHALL BE LIABLE TO YOU OR ANY OTHER THIRD PARTY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES. MEMBERS AND VISITORS ( USERS ) AGREE TO INDEMNIFY AND HOLD FIBOZACHI LLC, AND ITS SUBSIDIARIES, AFFILIATES, OFFICERS AND EMPLOYEES, HARMLESS FROM ANY CLAIM OR DEMAND, INCLUDING REASONABLE ATTORNEYS FEES, MADE BY ANY THIRD PARTY DUE TO OR ARISING OUT OF A USER S USE OF FIBOZACHI LLC S WEBSITE. TradeStation Disclaimer: Neither TradeStation Technologies nor any of its affiliates has reviewed, certified, endorsed, approved, disapproved or recommended, and neither does or will review, certify, endorse, approve, disapprove or recommend, any trading software tool that is designed to be compatible with the TradeStation Open Platform. 2009-2017 Fibozachi LLC www.fibozachi.com. All Rights Reserved. 29