FairyFibo can generate as many as 70 different BUY signals and 70 different SELL signals solely based on Price Action and Fibonacci levels. The idea is to catch as many as Swing High's and Swing Low's but with the consideration of the current trend mind. This indicator can be also used for Binary Options Trading as most of the time price tends to follow the signal direction immediately. Most of the strategies are already optimized for different time frames and different market conditions. While in practical you will not need that many strategies to develop a profitable system. The idea for presenting all the possibilities here is for the reason that each market behaves differently and they have their own characteristics. In any case if you found any strategy that is not performing well for a given market then you can always deselect those strategies. Before testing it in strategy tester make sure that you have atleast 90% quality data and no mismatched chart errors. Before going to trade live you should spend 4-5 weeks of time to get used to with the signals that you have selected for a specific market. If you are an experience Price Action and Fibonacci trader then this is going to be your dream tool.
Product Home Page: https://www.mql5.com/en/market/product/35339
Interactive Fibonacci Retracement and Extension tool
Interactive Regression Channel
Interactive Support and Resistance levels
Works on any market and any time frames.
Offers Profit target along side BUY/SELL signals
Good at catching Swing Highs and Swing Lows.
No repainting at all.
Absolute freedom to Activate/Deactivate signals
Voice Alert for Fibonacci levels, Support and Resistance levels, Regression Channel, and BUY and SELL signals
Email Alert for BUY and SELL signals
Mobile Notification for BUY and SELL signals
Flash Alert for Fibonacci levels, Support and Resistance levels, and Regression Channel
Smart Info Panel with significant Price Action information about the market
Larger horizontal lines are Retracement levels. Green means uptrend. Red means downtrend.
Smaller horizontal lines are Extension levels. Green means uptrend. Red means downtrend.
Three parallel blue lines are Regression channel lines. Channel pointing upwards means uptrend, pointing downwards means down trend. Flat means range bound.
Small dotted lines are short term Support and Resistance lines.
If you would like to enter trade automatically based on the signals from this indicator then please check out this trading utility https://www.mql5.com/en/market/product/38539
If you would like to strengthen your Fibonacci analysis alongside moving average indicators the please try my free Moving average indicator https://www.mql5.com/en/market/product/46412
This product has been released only on MQL5.COM. I do not sell this product on any other sites.
2. Improved all the Retracement strategies
3. More work on machine learning
4. Following information added to the info panel:
Major projection upper and lower range,
Moderate projection upper and lower range,
Minor projection upper and lower range,
Channel Range in Pips
Fibonacci Range in Pips
5. Improved info panel look and feel
2. If some assets or markets BUY/SELL voice alert is not present in the indicator then the indicator will play "Scalping BUY position" for a BUY signal and "Scalping SELL position" for a sell signal.
2. Improved following strategies: PullBack, TrendingMarketSwingHigh7 and TrendingMarketSwingLow
3. All strategies are made active with the default indicator setting.
2. A new Strategy added called PullBackStrategy
3. Added settings to adjust stop loss and take profit values based on risk to reward ratios.
4. More work done on machine learning and overall optimisation
1. Take profit value is being made available for FairyFibo Auto Trader so that the EA can directly fetch and use the take profit value during trading rather than calculate the value by itself.
2. A Stop loss value is also now shown for each strategies on the info panel. This same stop loss value can also be used with the auto trader also.
Check out the auto trader here..https://www.mql5.com/en/market/product/38539
2) More on overall strategy optimizations. The whole optimization process is essentially leading the indicator towards building its own machine learning algorithm
2) Added Candle patterns
3) Removed short term support and resistance as there are now Fibonacci projection that works better as support and resistance
4) A lot of the old strategies removed and added some new ones. The total number strategies are available by now are 31 BUY and 31 SELL signals.
2. Added new info on the info panel for showing remaining time left for current candle close
3. Finalized Optimization
2. Added one more BreakOut Strategy
3. Added one more Reflection Strategy
4. Added two more Threshold Strategy
5. A fifth level of Optimization done.
2. Added a new strategy related to Regression channel called "Threshold Strategy"
3. Added settings for Flash Alert
Attention: Only verified source for purchasing this product is here https://www.mql5.com/en/market/product/35339 All other sites who claim to sell or giving source code of this product are just scammers.
1. All Fibonacci Retracement levels
2. All Fibonacci Extension levels
3. Support and Resistance levels
4. BUY/SELL alert
1. Market Condition info
2.Daily Change info
3.Daily Range info
4. Upper Range info
5. Lower Range info
Also removing options for enabling/disabling strategies. This is done in order to make the system more user friendly.
IT DOES NOT REPAINT AT ALL. but the arrows can be placed differently on different markets specially the SELL signals. For example a sell signal can be shown below the actual price in many markets such as Bitcoin. It is because how mql4 places the Down arrows.
The logic is something like this:
Case: SELL - MQL4 places Down arrow and the arrow's tail is the current price. So please do not be surprised to see if a Sell signal is placed below the current price. I tried to fix it at some level by giving a offset point of 195 Points. This is equivalent to 19.5 PIPS in EURUSD. This offset point should cover the arrow length in FX Majors including XAUUSD.
Case: BUY - MQL4 places BUY arrow and the arrow's head is the current price. So for BUY arrow no problems.
Offset point has been taken off and now there is no protection on placing the Down arrows approximately at right price. This is due to peoples concern on repainting. In most markets the Sell signal will be shown below the price like a hanging arrow. Please also consider about the fact when spread gets widen arrow can be placed far from exact place.
And please stop looking at the arrows rather focus on the price shown on the info panel just below BUY SELL text.
FairyFibo' main goal is to predict the next move before the market shows a sign for going to that direction. FairyFibo does not care about