Fibonacci EA possible?
Hi guys, i'm currently using a pretty good manual strategy involving the fib levels which i have customised the inputs to enhance optimisation of entries. Anyways, i was thinking of automating it but, for me not having a clue how someone can code an EA to trade fib levels it really is off-putting as i wouldn't know what's right and what's wrong. Also i'm thinking there will be too many variables? In terms of the bot knowing exactly what impulse will be the one. As there can be many impulse and corrections inside a larger impulse/ correction... if that makes sense? It seems as if it'll be never ending for contradicting fib levels on top of each other. If anyone can shed some light into this and discuss with me some valuable information that would be great!
You could attempt at automating the process and have the machine decide the risk and trades per impulse wave based on its overall position in the asset ,its past performance ,and the resulting risk reward (if the SL or TP are not relative to the length of the wave but are derived from surrounding swing points)
If you can translate your rules into logic procedure, it can be done.
However most humans do not think logically. They *feel*. Try converting that to logic.
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Hi guys, i'm currently using a pretty good manual strategy involving the fib levels which i have customised the inputs to enhance optimisation of entries. Anyways, i was thinking of automating it but, for me not having a clue how someone can code an EA to trade fib levels it really is off-putting as i wouldn't know what's right and what's wrong. Also i'm thinking there will be too many variables? In terms of the bot knowing exactly what impulse will be the one. As there can be many impulse and corrections inside a larger impulse/ correction... if that makes sense? It seems as if it'll be never ending for contradicting fib levels on top of each other. If anyone can shed some light into this and discuss with me some valuable information that would be great!