1 (edited by muplayer2000 2015-05-01 12:49:52)

Topic: Fibonacci indicator

I checked ,none in the list on the default indicator in forexsb. Is it because Forexsb is more accustomed to use its own default indicators to create a strategy and not suitable for creating an strategy with an indicator such as Fibonacci?

The program algo was optimised with those default indicators in the list, so i assume if one a popular indicator is not there it means it was not suitable for the software .

Re: Fibonacci indicator

Fibonacci indicator was one of the first indicators in FSB v1.0 (2006). However we found that it repaints past loosing signals and the backtest shows highly overestimated results.

We first marked that indicator as for demonstration purpose only in order to give the users example of history repainting. That was not enough to stop the traders using it and finally we removed it from the program. After that the traders continued wanting it and complained that cannot find it any more.

This is a clear example the users want to buy dreams instead of reality.

You can search the forum and find old posts about Fibonacci.

Re: Fibonacci indicator

Sometimes it's better to simply search for info than assume. Apart from the standard Fibo, which was not suitable for testing, there have been at least 2 interpretations of Fibo.

forexsb.com/repository/repository_indic … ud-fibo-v3

Re: Fibonacci indicator

Footon has devoted quite a bit of time to studying the mechanics of the indicators and he has produced some excellent ones. ( and I think there has been some frustrations along the way smile )

You might have a look at the thread he set up to see of there is something of interest or see if there is an idea you can glean from the thread.  http://forexsb.com/forum/topic/3549/foo … di-corner/ .

Ahmed also has created and modified quite a few.

And you can know that we are always asking for additional featutres and indicators.

Because Fibonacci is a very subjective indicator, some people would prefer to not use it in an adviser, whereas others would swear by it.

If you have a favorite indicator, please be sure to request same, someone may do it for you, or someone may create it on a fee basis if you do not wish to share.

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