Explain about Fibonacci... - page 4
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I don't want to refer to Bill Williams, but still.
Doesn't Williams have a rational grain that can be applied to trading?
No. I tried to make my own super-soviet according to the ideas described, but I never got the fuse.
What if it's underdrawn?
That was one of the unresolved problems that got me down. I hope to get back to Phoebe when there is another crisis of ideas.
P.S. Go to Onyx, nena's Corner. There's a lot there about near-zigzag passions.
Разве у Вильямса нет рационального зерна которое можно применять в торговле?
Of course there is. It's just that many people are wary of his ideas or think he is incompetent. So I co-conspire.
Do you mean the ZigZag which is present in the MT4 tools (indicators)?
Does it matter if the ZigZag is ascending or descending?
What if it is underdrawn? In other words, it was drawn downwards at first, and then the trend began to move downwards and, consequently, the drawing of the ZigZag continued, is it normal?
It does not matter for ascending or descending, and as for overdrawing - ZZ is the only indicator of the standard ones, which tries to look into the future, or more or less adequately reflect the present time, therefore using it directly will not do any good. The value is rather ZZ levels, because of its nature on them you can gather excellent statistics of price behavior, as well it makes sense to use several ZZ with different settings or from different timeframes.
As for forwarding, it isn't important, ZZ is the only standard indicator that tries to look into the future, or more or less adequately reflect the present, so applying it directly will not do any good. The value is rather the levels of LA, because of its nature on them you can gather excellent statistics on the price behavior, it also makes sense to use several LA with different settings or from different timeframes.
In general, as I understood it, Fibonacci tools are better to use with other instruments, but it is more important to observe and make conclusions by yourself thus creating your own strategy.
Of course there is. It's just that many people are wary of his ideas or think he is incompetent. That's why I've been cautious.
It takes some getting used to. I like his strategies, but I do not dare to use only his indicators, that is why I am interested in other trading methods in order to use them as a complex.
Everything is strictly individual and subjective. I personally would not build a trading system on Fibonacci. Yes, it may be possible to analyse something with this tool, but to predict... unlikely.
Yes, levels can indeed work. But apply them simply on faith without proof :) i.e. just believe in the wizards and they will start working.
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Now seriously.
Where levels come from -- as a result of manipulation of the golden ratio. That is, explicitly or not, in the price component must somehow be present the law describing the Golden Ratio.
x[i-2] + x[i-1] = x[i].
The question is why not
x[i-3] + x[i-2] + x[i-1] = x[i].
...
or
a*x[i-2] + b*x[i-1] = x[i]?
The Golden Ratio is just a special case derived from manipulating Fibonacci numbers.
So theXpert-section.
We have a series of numbers:
1 1 1 3 5 9 17 31 57 .......
I will calculate the magic number later, I am drunk now.
Proponents -- prove a statistically significant advantage of Fibo levels over mine.
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Calculated -- the magic number of my series is 1.839.