1-2-3 pattern - page 9
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
with alert
Here I added alerts, just set the alert to true to enable (it's false by default).
fibs wrong
Does it not seem the fibs are wrong ?
when its at 61.8 % it should really be 23.6%
just putting my meta trader fib tool on top of the indicator and the fibs
dont line up
Here I added alerts, just set the alert to true to enable (it's false by default).
I didn't change a thing in the indicators just added an alert after the end, if you compare to the same indicator without alerts they should be identical.
(I didn't write the original).
However, the way it draws the fibs is from the bottom of the pattern to the breakout point, and you should enter at 100% and exit at the extension 161.8%. In practice if you have 2 blue dotted lines enter at one and exit at the other (usually they are near the 100% and 161.8%, but not always). That's in a long signal when there is a yellow + green zigzag.
If you get a short signal blue + red then it's upside down, although the procedure is the same - enter at the thin dotted horizontal blue line nearest
100% fib and exit the lower blue one near 161.8%..
Also be careful that the exit blue line may redraw closer to the buy, so be sure to check it periodically.
That isn't such a problem as it sounds - if I trade a low TF e.g. M15, I sit near the computer and look at the chart every 5 or 10 minutes. If I have a higher TF such as H1 or H4, I can go and return to check after every half an hour or even an hour without worrying too much.
Hope that helps.
Oh wait - I know what you mean.
You drew the fibs the usual way from the earlier high/low to the breakout point. That's fine when you expect the pattern to reverse in direction and get out at a particular retracement. (e.g. 50%, 100%, or even greater).
In our case you have to start the fib at the breakout point (where it automatically drew the 100%) and drag it back in time to the high/low, then release the mouse. Then we look at extensions in the direction of the trend, and it is useful to look at fib levels only greater than 100%.
Since in the 1-2-3 the pattern is expected to continue in the same direction, that's the way it's drawn by the indicator.
Sound a nice indi, test and discuss later
i would like try shwo123 but my meta4 turn off when i willput it in
[lang=ru]Hello, I'm from Kazakhstan. I njt good speak english, i'll be read rusian OK
Я нашел лучшее применил к индикатору show123. дает прибыль 50 pips в день. кого интересует пишите рад буду показать в деле[/lang]
Best?
Why don't you just post it so the rest of the community can evaluate it?
I tried to inverse the Fib retracements but with no luck.
Anyone else with more savvy programming skills able to change the Fib numbers ??
Thanks in advance.
Oh wait - I know what you mean.
You drew the fibs the usual way from the earlier high/low to the breakout point. That's fine when you expect the pattern to reverse in direction and get out at a particular retracement. (e.g. 50%, 100%, or even greater).
In our case you have to start the fib at the breakout point (where it automatically drew the 100%) and drag it back in time to the high/low, then release the mouse. Then we look at extensions in the direction of the trend, and it is useful to look at fib levels only greater than 100%.
Since in the 1-2-3 the pattern is expected to continue in the same direction, that's the way it's drawn by the indicator.Is it possible to add the %$ showing the price with the fibo level?
Oh wait - I know what you mean.
You drew the fibs the usual way from the earlier high/low to the breakout point. That's fine when you expect the pattern to reverse in direction and get out at a particular retracement. (e.g. 50%, 100%, or even greater).
In our case you have to start the fib at the breakout point (where it automatically drew the 100%) and drag it back in time to the high/low, then release the mouse. Then we look at extensions in the direction of the trend, and it is useful to look at fib levels only greater than 100%.
Since in the 1-2-3 the pattern is expected to continue in the same direction, that's the way it's drawn by the indicator.Hi, Mr. nlenz
Is it possible to add the %$ showing the price with the fibo level? If possible, to update 1-2-3 Pattern MTF Alert v3.1. Thank you very much in advance.
Best regards,
Thomas C
Hi, Mr. nlenz
Is it possible to add the %$ showing the price with the fibo level? If possible, to update 1-2-3 Pattern MTF Alert v3.1. Thank you very much in advance.
Best regards,
Thomas CHi Thomas,
I think it already shows the prices, too - the entry price and the target price are highlighted in dark blue on the price column on the right.
Is that what you meant? If not please give a theoretic example of what you like to see.
nlenz