Auto Fibonacci indicator - page 14
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Guys,
ObjectSetFiboDescription() has to be used for that and in the description you have to place a "%$" somewhere in the description. It will then be replaced with the price of the fibo line it is drawn at. Attaching one example that does that (see line 87 for how it is done - a word "price" is added in this example too to make it easier to see what can ObjectSetFiboDescription() be used for)
PS: from the code you will see that a description has to be set for each and every fibo level separately - it can not be done on the "group object" level
Hi y'all, is there a autofib indicator that takes the high and low of Monday and draw/extend the fib levels to the close of Friday for that week? Thanks in advance. Rgds/Ahab
Fibonacci Time Line Indicator
hi
Can anyone tell me if there is an indicator that can do Fibonacci lines vertically, plotted between 2 selected points?
Basically it would work the same way as the fib retracement tool, in that you will click 1 point and drag to a second point. What it will be plotting is fib ratios along a vertical.
As an example, to start at the beginning of a harmonic pattern, usually labelled X, and then drag to the midpoint of that pattern. Whether that be the point labelled B or the exact midpoint is not really important here.
So the distance from X to B may be 12 days, so 12 days from point B would be 1 with the usually retracement (0.382, 0.5, 0.618 etc) and extensions (1.27, 1.414, 1.618 etc) fibs plotted. And like the MT4 native version which plots horizontally, fibs could be added or deleted.
Has anyone ever seen such a beast?
cheers
honkin
Fibo channels on a zigzag
Fibonacci numbers are a sequence or series of numbers, created by a famous mathematician, Leonardo Fibonacci.
In trading the harmonious levels of retracement are 23.6%, 38.2%, 50%, 61.8% and 100%.
Out of these the most important at 38.2%, 50% and 61.8%, as that is where the bulk of retracements stop and the original trend is continued. These are areas where price will usually stall. They are self fulfilling prophecies as so many traders place traders around these areas.
If the market is in an up trend and retraces to one of these levels, you know that if you place a long you won't be the only trader doing so. For that reason, Fibonacci retracement is a powerful tool in determining when to enter a trade in the direction of the trend.
Square root 61.8=78.6
square root 78.6=88.6...inverse=1.13
square root 88.6=94.2
square root 2= 1.4142...inverse=0.707
square root 3=1.73...inverse=0.578
So...for large swing we have retracements 0.618-0.707-0.786-0.886-0.942
extension: 1.13-1.272-1.382-1.4142-1.618-1.73-2-2.236-2.618
good work
@tampa
This is Star wars on your picture
If I only find out who wins
:)
@tampa This is Star wars on your picture
By daily open levels
By daily open levels
Hi,
Could anyone add 78.6% retracement line to this attached indicator please?
Thank you,
John
honkin,
you must change the platform: The Dynamic Trader Softwre (www.dynamctraders.com) offers the feature which you are looking for in post #134. You can use two or three dates:
Sixer