Indicator that calculates retracements

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Hi

Does anybody have an indicator that calculates retracements as follows or can anybody do this?

Once the market moves say 100 pips in a direction it then retraces say for example 50 pips, it then continues to make a new high/low and the next time it starts to retrace again (say 25 pips which is 50 percent of last retrace) an alarm comes up on your screen. This would enable you to watch price around the 50 pip retrace level with a view to the market turning again at this point.

I have observed that the market tends to retrace less every time in a healthy trend and want to use this as extra confirmation for my trading.

Anyone here who has anything similar or can code this?

Many thanks

FXP

 

If I am understanding what you are asking for. You can just use the Fib tool and price level alerts to do this.

Set the Fib from High to low or Low to high and set a price alert at the 50% level, then reapeat as needed.

fxprocessor:
Hi

Does anybody have an indicator that calculates retracements as follows or can anybody do this?

Once the market moves say 100 pips in a direction it then retraces say for example 50 pips, it then continues to make a new high/low and the next time it starts to retrace again (say 25 pips which is 50 percent of last retrace) an alarm comes up on your screen. This would enable you to watch price around the 50 pip retrace level with a view to the market turning again at this point.

I have observed that the market tends to retrace less every time in a healthy trend and want to use this as extra confirmation for my trading.

Anyone here who has anything similar or can code this?

Many thanks

FXP
 

hi

Drivefast:
If I am understanding what you are asking for. You can just use the Fib tool and price level alerts to do this. Set the Fib from High to low or Low to high and set a price alert at the 50% level, then reapeat as needed.

That's right fibo ussualy retrace on 50% or 61% ...just watch it

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Forex Indicators Collection

 

Request for Indicator, please.

Is there an Indicator that counts pips and candelsticks on retracements? This option for example may be with Zigzag . If someone is so kind, please help me.

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