Fibo & Gann variations - page 16
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Hi Everybody ,
WHAT ?!
here is Dynamic Pivot Fibo Levels
it's one of my favorite indicators i have
it comes with multi options , so you can :
1- Change the applied period (with no need to change the time frame)
2- change the applied calculation
HOW ?!
simply you can change the value within the input panel
TF = 0 (means it will be applied to H4 TF)
TF = 1 (means it will be applied to Daily TF)
TF = 2 (means it will be applied to Weekly TF)
TF = 3 (means it will be applied to Monthly TF)
--------
System = 0 (this mean that the calculation will be taken over the last "HIGH" on the selected TF previously )
System = 1 (this mean that the calculation will be taken over the last "OPEN" on the selected TF previously )
System = 2 (this mean that the calculation will be taken over the last "CLOSE" on the selected TF previously )
System = 3 (this mean that the calculation will be taken over the last "RANGE*" on the selected TF previously )
System = 4 (this mean that the calculation will be taken over the last "TYPICAL**" on the selected TF previously )
System = 5 (this mean that the calculation will be taken over the last "WEIGHTED***" on the selected TF previously )
* High , Low
** High, Low,Close
***High,Low,Open,Close
--------
this means that you'll get 24 types of pivot fibo levels
WHY CALLED "DYNAMIC PIVOT FIBO LEVELS ?!
it's build over previous indicator called dynamic range which calculated the average range of last 5, 10 , 20 days plus yesterday range
and Pivot because it has the close calculation of pivot levels
and Fibo because it is built on fibo levels
FREE OR NOT ?!
it's free open source , you can add extra ways for calculation , change the color ,extra lines , or do what ever you want to
*please keep credits and added yours if you made any changes (at the end of the code)
GoodLuck
and have a Green DayDR GM,
Thanks a lot for this indicator ,it is a beauty.
Today,there was a confluence of fibos(0..61.8%,1...100%),near the temporary bottom of GJ..at 207.78 and 207.72,if we check the reaction from that point I am sure that you will understand if I suggest you to modify your indicator in order to either be able to add several ones to the same chart(I tried to save settings 0,1,2,3..with different names,to no avail,once you put a new one ,the previous lines are deleted) or be able to have simultenous mtf "objects viewing" capability,for those of us who trade fibonacci confluences,it will be an exceptional tool.
In any case,just as it is now,it is an exceptionally good indicator,congratulations.
Simba
Es 123 Fibos
Check the pic..123 Fibos,50,61.8,100..what is next?
This indicator by DR GM..surely looks like a perfect way to attach some structure to price action...having simultaneous tf levels for sure will be a gift for any trader.
Simba
23% >> Pivot >> 23% >> 61% >> 23% >> 61% >> 100% >> 61%
correction is 7 pips only
Indicator finished.
Well, it took me a while, but now my all-inclusive-indicator is finished.
What is he doing?
1. He is drawing the daily pivots without cluttering the chart
2. He is drawing the major Gann Lines (scale adjustable in the properties)
3. he is drawing a box of yesterdays high/low with the 38.2 and 61.8 retracement in another color and the 0.382 and 1.382 Fib Extension of yesterdays high/low
Hope that helps... below a screenshot of the indicator without any other indicator involved (wrong - the magnified market price is on it as well
)
Have fun...
Thank you for sharing dxtrade...
Great Indicator.
Dxtrade,
I amirregular replier/forumer..,but this is very nice.,informative but yet clean.
Thanks 4 sharing.
23% >> Pivot >> 23% >> 61% >> 23% >> 61% >> 100% >> 61% correction is 7 pips only
can anyone help how to use this Dynamic Pivot Fibo Levels by Dr.GM
I m newbie want to try this indy
thanks
Just to inform all W D Wann stuff have now a separated thread for practical purposes: https://www.mql5.com/en/forum/178566
This is my edition Pivot+Full Fibo range...
Above Pivot = BUY AREA
Below Pivot= SELL AREA
Good luck
fibo indicator for a good system
Hello,
I try to find an indicator that draw weekly and monthly fibonacci levels (0 38.2 61.8 100 161.8) on MT4 charts with historical results for backtest because it gives very good results for take profit.
My entry is 4h fractals breakout I watch in daily and weekly candelstiks if it is a valid entry and exit next fibonacci levels and risk/reward ratio 1:1
Thanks