• Overview
  • Reviews (1)
  • Comments (2)

FiBoPivot

Keep in mind that this is not a buy/sell indicator. It is simply a resistance/support price level indicator. This means that when there is a firm and decisive judgment of price action (using the Holy Trinity Prices, Peaker or any other price action indicator(s)) - when the direction has been determined, of which it is believed that price will move; this indicator presents the immediate support/resistance levels, which price must first encounter along its line of retracement.

Invariably, this indicator, as can be observed on historical data, does a very good job of displaying timely retracement price junctures (or price bust-stops) thus careful choice of indicator values must be set.

  • Father Period - number of bars, from which the indicator starts to calculate the highest price value (when in an uptrend) or the lowest price value (when in a downtrend).
  • Son Period - number of bars in range. In addition to the Father Period, with which the indicator requires to completely determine the highest and lowest values within the set interval.
  • Holy Spirit - this value (as a percentage or fraction) multiplies the difference between the highest and lowest price within the preset Father & Son Periods. It helps to fix the specific prices, to which the Fibonacci Retracement lines are drawn.
Ali irwan
5212
2017.08.04 01:08 
 

User didn't leave any comment to the rating