I want to add the 76,4% and 12,5% Fib-levels to your standard Fib-tool - MQL4 and MetaTrader 4

[Deleted] 2010.11.12 08:37 #2251

Standard Fibtool

bkennedype:
I agree that this is how to apply the standard fib tool. Always draw the fib tool towards the price...then the percent pullbacks make sense. I've added the necessary extensions as for me, they don't exist in the standard mt4 tool for the way I draw them.

I'm also using the fibs based on weekly, monthly and yearly ranges, using the indicators mladen has built....and I anchor based on prior close (default is average of H,L and C).

For example....take the prior week's close and the prior weeks range. I want to know when price has travelled 23.6, 38.2, 50, 61.8, etc of that range. When weekly and monthly values line up, as per the AUDUSD chart attached, I mark those on my chart as potentially places to trade from. I still look for price action in and around those areas and what is happening overall in the respective currencies.

There are many ways to use fib calculations...I also use for a breakout strategy based on the NY close. But I never trade any of it without confirming price action.

Ben

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Hi Ben,

Have you considered adding 76,4% and the 12,5% and 87,5% Fib-levels to your standard Fib-tool? I asked Alan Olivier whether one could do that while still remaining inside the Fibonacci limits and he very kindly pointed out that it was part of what Fibonacci had envisaged although it is never cold coded.

Also, there is a way to show the price behind each line if you don't have that already; its just that I cannot see you using it. See attached screen-print.

Best wishes.

Files:

fibonacci_h1.gif 31 kb

Alerts Introduction to MQL5 and Break jump

jigneshjhobalia 2010.11.12 16:19 #2252

mladen:
jho

Here is this one

It is a different one (only instantaneous trend line (iTrend) is left out from this ona) with some extra averages. Colors are changing correctly (no repainting) Multi time frame works correctly and you have an interpolated option too. Alerts added. No arrows (since it has non repainting color changes, no need for arrows) Just packed up a couple of then on a chart as an example (sma+lsma+hull)

regards Mladen

Hi Mladen,

Thank you very much for the “Averages - MTF & Alerts”.

I overviewed entire elite section and I have approx. 150 downloads in total so far.

After trying many things I found that Moving Averages are the best tool that suites me. (Better late than never)

Also I found Hi-Low channel – Jurik smooth, Precision Trend and On Chart Stochastic (MTF) very helpful for confirmation. (Two Charts on Two Screens)

I also am looking for some upgrade in Trendline Envelops MTF.

Could you please offer all the built-in Averages that are present in “Averages – MTF & Alerts” with “Trendline Envelops – MTF” with Alerts?

(I.e. as of now Trendline Envelops –MTF offer SMA, EMA, SMMA and LWMA, but does not have HMA, LSMA, NonLagMA and Alerts)

Trendline Envelops will help to accommodate other indicators on chart and keep the chart neat.

To my knowledge the job you guys are doing, especially “Mladen”, is really commendable and extraordinary.

Thanks to “MrTool” for suggesting me Elite section when I was literally hunting for appropriate indicators in public forum.

Thank you all in advance.

Kind Regards,

Jho

Files:

trend_envelopes__mtf.mq4 7 kb

averages_-_mtf_amp_alerts.mq4 16 kb

Moving Average - Trend Moving Average - Trend Awesome Oscillator - Bill

bkennedype 2010.11.12 18:51 #2253

Hi ValoeFX,

The 12.5 and 87.5 are values that I have not previously considered....but they do fit nicely in the sequence. Will add for the upcoming week to see how they work out.

Displaying the price works great with what i have. On my main trading screen...I don't use price...I'm more concerned with the fib number, round numbers, and specific areas that I have marked.

Here is my live EU chart...with areas of interest marked (and the 12.5 and 87.5 changed). I pay most attention to weekly 38.2 and 61.8 and when something weekly lines up with a monthly fib.

Not perfect, but tradeable...I use M15 price action (candle patterns mostly) for trade decisions.

The only other thing I use, which is not on this attached chart, is the triangular moving average bands...looking for extremes.....and price action and fib numbers at those extremes.

I do have a great indicator collection, and will test various indicators...but most lag and either prevent me from taking the trade or confirm after I have already taken the trade....but I do really like the bands.

Thanks for the fib numbers...

Ben

ValeoFX:
=================

Hi Ben,

Have you considered adding 76,4% and the 12,5% and 87,5% Fib-levels to your standard Fib-tool? I asked Alan Olivier whether one could do that while still remaining inside the Fibonacci limits and he very kindly pointed out that it was part of what Fibonacci had envisaged although it is never cold coded.

Also, there is a way to show the price behind each line if you don't have that already; its just that I cannot see you using it. See attached screen-print.

Best wishes.

Files:

2010-11-12_1540.png 43 kb

Moving Average - Trend Moving Average - Trend Moving Average - Trend

Mladen Rakic 2010.11.12 19:12 #2254

Jho

Here you go

I think I got everything OK (added all 10 averages from "averages" and alerts are working as they should). As an example : triangular MA (not centered, so no recalculation) trend envelopes

A pleasant weekend to all

regards

Mladen

jho:
Hi Mladen,