Experts: Fibonacci lines
You are using Open Prices only. What about the drawdown during the intraday movement ? One may loose all account. Or the stop loss points will exit the position before it hits th TP. Your result of backtest has nothing to do with real life.
Cagatay Tezsezen:
You are using Open Prices only. What about the drawdown during the intraday movement ? One may loose all account. Or the stop loss points will exit the position before it hits th TP. Your result of backtest has nothing to do with real life.
Also you can read this:
thank you, this looks interesting, except what does it do on the fib.levels? the fib.levels function as a filter? how? interesting...i will check it out tomorrow, although...markets are closed tomorrow, n.p.; right now it looks to me like a multiple moving averages strategy with momentum, macd, and bollinger bands and the object FIBO is used with the high and low from bracketing durations, or not at all...interesting, seems like all that will happen is moving averages are calculated on the the time-frame lower (i.e. on the M5 if we're on M15) and Momentum on the next time-frame higher, while the BB and MACD on current time-frame, weird...I'm sure there's more to it than that though and I'll be sure to try and figure it out, seems like some kind of play on the way prices are actually drawn in the platform, well... I hope to learn something new for sure, and thanks again for posting this
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Fibonacci lines:
"Fibo" EA draws Fibonacci lines on chart and trades with price breakthrough,has Trailing Stop Loss &Take Profit works with all time frames major forex pairs and stocks NASDAQ.
Author: Aharon Tzadik