Discussing the article: "How to integrate Smart Money Concepts (OB) coupled with Fibonacci indicator for Optimal Trade Entry"
i think your zip file doesnt work as intended,i see no graphs but i see some debug messages about a
swing high or loww.
what mgtn is stand for?
What are u sung to determine your swing highs and swing lows, does this also cater for minor structure
Joseph Okou #: What are u sung to determine your swing highs and swing lows, does this also cater for minor structure
The EA determines swing highs and swing lows by comparing the current bar with a set number of bars on the left and right (len = 5 in this case). A bar is marked as a swing high if its high is greater than those of the surrounding bars, and as a swing low if its low is lower than those of the surrounding bars. Since this method uses a fixed number of bars, it primarily detects major structure swings and may not always capture minor structure changes unless you reduce the parameter len.
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Check out the new article: How to integrate Smart Money Concepts (OB) coupled with Fibonacci indicator for Optimal Trade Entry.
The SMC (Order Block) are key areas where institutional traders initiate significant buying or selling. After a significant price move, fibonacci helps to identify potential retracement from a recent swing high to a swing low to identify optimal trade entry.
Smart Money Concepts (SMC) and Order Blocks are critical areas on the chart where institutional traders typically execute large buying or selling orders. These zones often mark the origins of significant price movements, making them vital for traders seeking to align their strategies with institutional market activity. Understanding how these key levels influence price action can provide retail traders with more profound insight into the underlying market dynamics, allowing them to anticipate high-probability moves.
When combined with tools like the Fibonacci retracement, traders can further refine their entry strategies. The Fibonacci retracement identifies potential pullback levels between a recent swing high and swing low, offering a way to measure how far price may retrace before continuing its trend. This approach helps traders pinpoint optimal entry points by aligning institutional order flow with areas of market interest, enhancing the precision of their trades.
A Bullish Order Block can be identified on the charts when a bearish candle is followed by a bullish candle that engulfs the previous bearish candle, marking the beginning of significant bullish momentum. For the formation to qualify as a Bullish Order Block, the candles that follow the bearish candle must consist of at least two bullish candles or a series of bullish candles. The correct approach to trading a Bullish Order Block is to wait for the price to retrace and dip back into the identified Bullish Order Block zone, at which point a buy position can be executed.
Author: Hlomohang John Borotho