1 (edited by emaster70 2010-01-11 19:53:31)

Topic: Fibonacci

Hello,
although I've noticed that the Fibonacci indicator is meant for demo purposes only I'd like to know why...
I've tried to use it in FSB and then forward-tested it in FST and got different results for the same bars (in FSB I've imported data from my broker on the timeframe the strategy works on and on all the smaller ones) and I'm curious to know if I'm doing anything wrong.
Thanks for the great software and support!

Best Regards

Edit: figured I'd be more specific, so below is what's actually happening.
In my strategy I'm using fibonacci to determine entries, however on a couple of bars FST entered a trade and FSB (using the very same data) shows both long and short entries as disallowed. It's true that at a certain point the price crossed a fibonacci retracement line, however I should also specify that the bar had both opening and close above the fibonacci retracement line and just the low below it. I'm looking to get the same results across the two programs, keeping as reference behavior that of FSB.

Re: Fibonacci

Fibonacci indicator redraws past signals. You can find more explanations in this 3 years old post about Fibonacci.

Re: Fibonacci

I also have tried fibbonacci, the results are different from FSB .....
maybe if we use fibbonacci as open logic condition with bar opening as open point condition this indicator can work better......

I want to ask the function of the FST -----> strategy ----> setting trade -----> "bar closing" time advance in seconds. (what the function?)

thanks Popov

Re: Fibonacci

I want to ask the function of the FST -----> strategy ----> setting trade -----> "bar closing" time advance in seconds. (what the function?)

MetaTrader doesn't provide a "Bar close" event. To compensate the lack of this important function FST calculates the time of bar closing by adding the period length to the bar starting time. But we cannot send order at bar closing time because it will be actually executed at the next bar. So we send the order several seconds before the bar closing time. That time is "Bar closing time advance".
If this time is 3 seconds and a tick have arrived 3 sec. before bar closing, the program will announce this tick as "last tick" and will send a closing order (if the strategy requires close at bar closing).

You can change this time according your observations about the order execution speed and the tick frequency.  If you make this time too big (say 10 sec), it's more possible more ticks to arrive after the "last tick" so the closing order will not be executed at bar closing price.
If the time is too small (1 sec), the order can be executed at the next bar and we can eventually miss entry at bar opening.

Re: Fibonacci

Hi guys,

the limit is 15 sec. I would like to increase it more because my strategies do not close on week end.
They try to execute order close at 23.59 on FR but my broker had already closed trading. It would help me to be able to close it let's say 1 minute in advance, can i somehow sat the value to 60 secs?

Re: Fibonacci

"Day Closing 2" indicator has closing time in hour and minutes. You can use it to close at 23:59 or 23:58.