I'm finding it extremely difficult in knowing which level will hold in Fib. Retracements !
I've seen on the charts that prices reverse midway between 50% & 61.8% sometimes. Price can under shoot or over shoot a Fib. level.
Can somebody pls. give me a few tips/helpful advice on this subject matter ?
Do we look for Trend Reversal patterns @ Fib. Levels or can we incorporate few simple indicators to help determine probable price turning points etc,etc..
HI I am new at all this I am looking for a scrip that will put pivot point on medatrader 4
You need to study a bit more on fibs... i suggest the Harmonics Trader by Carney Scott and the AB=CD by Sundeep Bilkhu
Originally Posted by arezab
This is not a single indicator. You already have Fibonacci tool on MT4 platform but you should manipulate the values in levels tab and add your desired descriptions in front of them (as I did), nothing special and easy. You need to enter the following values and their respective descriptions for your fibo tool to exactly show up like mine. .
0 BUY@ %$
0.5 %$ - 50.0
1 Sell@ %$
1.382 Target1 138 = %$
-0.382 Target1 138 = %$
-0.618 Target2 162 = %$
1.618 Target2 162 = %$
2 Target3 200 = %$
-1 Target3 200 = %$
2.382 Target4 238 = %$
-1.382 Target4 238 = %$
-1.618 Target5 262 = %$
2.618 Target5 262 = %$
The demark indicator is attached. I use it on 30M chart and set the LevDP to 12
Thanks for the share Naatha,
Something new to me regarding the fib tool. I just used to put the levels like this and never thought of labelling them and use the %$....
It looks nice and more understandable...
Seems you are someone who will bring lots of good to this board.
All the best
my new mtf inds:
Thanks man'Good stuff, keep posting... New stuff should go in new threads....
anchorfx1mtf - not tested yet
I like to say it's wondefull site
HI I got an problem, which is the Zip file I download not anble to unzip it!!! can advised What to do ?