Topic: Fibonacci indicator CHANGE


There is a chance to modify a little bit FIBONACCI indicator ?

FIRST : Insert a Flag to have the option to Revers on 0% when FIBONACCI is set on BREAKOUT logic.
Second: Take position even the price jump under the fibonacci level a maximum 5 pips (There is a big chance for a new bar to open bellow the fibonacci level - in a falling price logic. Same problem above fibonacci level for rising price logic.)


Re: Fibonacci indicator CHANGE

Fibonacci indicator will be removed from the programs in the new versions.

It was included in current versons in order to demonstrate signal repaintinng but many users complain because of (Guess what?) repainting.

Re: Fibonacci indicator CHANGE

If it is possible please add this two features to fibonacci and I will show you a live testing with a very good result.

The function has an incredible result.

Thank you very much,

Re: Fibonacci indicator CHANGE

Hi Popov,

Please add only this small flag on breakout strategy and you will have a very stable fibonacci live trading. For the one who do not like the colors recommend them to use other indicator more colorful smile.

Keep the indicator in the new version and in short time you will remove "for demo only !!"

For you is a 5 minutes work to add 10 lines of code with the fallowing logic :

- When price is rising and FST has already opened long positions and in short time the price is falling back and reach 0% REVERS. In case 0% is reached and FST has a previous short position opened IGNORE.
- Vice verse when price is falling.

This strategy allow you to be ready to take profit on powerfull trends up or down with very little loss. The forex today has this characteristic. It is not for range market.

This is the only way to solve the issue mentioned by you long time ago.

"2006-12-22 00:23:02

    * Popov
    * Administrator
    * From: Bulgaria
    * Registered: 2006-11-30
    * Posts: 958

Re: tricky USDCHF 1Hour more than 9800 pips

The strategy mentioned above, uses the indicator Fibonacii retracement. This indicator is based on the Zig-zag indicator to calculate the tops and bottoms. And here comes the big problem. The zig-zag indicator moves the signals.
What do I mean?
For example: If there is a rising market and after a pick the price fall down rapidly, the Zig-Zag indicator forms a Top. The Fibonacci places the zero level and starts counting downwards 38.2%, 50% ... together with the price. If we have Logic Continue when the price reach the 38.2% line, we enter into a Short position. If the market continue its fall there is no problem, but if the market turn up and form a new pick in a short time. The Zig-Zag removes the existing signal and places new top higher than the previous. And, what to do now? We are short on the market, but the history test doesn't calculate this loss. "

Re: Fibonacci indicator CHANGE

I would think that Fibonacci would be a very difficult indicator to use with automated trading considering that the fib lines are quite subjective on each time frame.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....