steos wrote:How can I use ATR when I want to trigger trades only when ATR is below a specific number (in pips). For instance I do not want to trade EURUSD Daily when Daily ATR X period is above 250 pips. Is this possible?
I don't remember why I didn't include "Level" logic for ATR. I cannot see a reasonable reason for that now. It looks like I missed it. It can easily be added to a custom indicator.
I have been recently examining fibonacci indicator on FSB. As a fibonacci supporter I am trying to understand 3 things:
1. How you set highest and lowest points in order to calculate retracement levels? What is the logic behind it?
I'm using a Zig-Zag indicator for that.
2. How sensitivity works?
This is something like minimum distance between two Highs (or Lows) in bars.
3. Why is this for demo only?
Zig-Zag indicator redraws (moves) the signals. It can set a High today for example, but if there is a higher high tomorrow, the indicator will remove the today's signal. This behavior reflects on the backtesting. The strategies look more profitable when using "Breakout" logic. Probably the strategies with the "Retracement" logic are underestimated.
This indicator is "dangerous" for backtesting. It doesn't show real result. This is 100% sure.