Fibo based on yesterday high-low

New comment
 

Hi guys,

I'm trying to understand one of Mladen fibo indicator calculations and plots.

So todays fibo lines are calculated by yesterday range in this simple way:

   if(Bars(_Symbol,_Period)<rates_total) return(-1);
   MqlRates dailyRates[];
   int dailyRatesCopied=CopyRates(_Symbol,PERIOD_D1,0,inpPeriodsToDisplay+1,_dailyRates);

   for(int i=1; i<dailyRatesCopied && !_StopFlag; i++)
     {
      double _range = dailyRates[i-1].high-dailyRates[i-1].low;
      ObjectCreate(0,_name,OBJ_FIBO,0,_dailyRates[i].time,_dailyRates[i].open+_range,_dailyRates[i].time+PeriodSeconds(PERIOD_D1),_dailyRates[i].open);

However, on the chart when I compare this calculation with manually drawn Fibo Retracement tool, I see different results:


New comment