1 Topic by unique_pokhrel (edited by unique_pokhrel 2017-12-15 07:47:12)

  • Registered: 2017-11-29
  • Posts: 7

Topic: Fibonacci Retracement,

Greetings,
I was studying forex market ,  I found very interesting idea, now i have no clue how to make a EA out of it.  with you guys, Any help will be appreciated. I have attached a picture here,

tool used in this chart 
Trend Line
Fibonacci Extension,
Fibonacci Retracement.
All i did was, draw two trend line AB CD. again I  drew Trend-Baased Fibonacci Extension CD , Fibonacci retracement CD  .
AB is just for conformation that market is going up trend or down trend.

light blue will give us the buying position and dark blue will give the selling position.
https://s2.postimg.org/lq3lfz2cl/Fibonacci.png

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  • Registered: 2016-05-16
  • Posts: 190

Re: Fibonacci Retracement,

Hi, there is a need for custom indicators. Fib extensions and retracemments are in my wish list for long time also... but not doing anything about it smile Lazy *** I am big_smile I think it should not be so hard to program these indies, you can take recent swing high low from zigzag or other indicator and measure these percentage values of these price moves. Best thing would be to ask Footon for paid/free coding service in Technical Indicators - Paid Coding Service corner.

  • Popov
  • Popov
  • Lead Developer
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  • From: Bulgaria
  • Registered: 2006-11-30
  • Posts: 7,988

Re: Fibonacci Retracement,

We removed Fibonacci from the program because the standard implementation has a very dangerous disadvantage to redraw the past loosing signals.

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