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Pershikov Fibonacci Retracement

The indicator plots 5 Fibonacci retracements according to recommendations about trend lifetime given by V.V. Pershikov. All lifetime parameters can be customized. Retracements are plotted at the moment of attaching the indicator to the chart and at the moment of scaling. It is made for increase in productivity. If the indicator re-plots on every tick, its operation will be slowed down due to abundance of calculations which come from check of 61.8 level breakthrough. Plotting can be changed manually after the indicator has finished plotting retracements. Remove the indicator from the chart so it could not change manual settings. Retracements won't be removed.

The indicator was developed in cooperation with V.V. Pershikov.


Indicator Parameters

Trend parameters

  • EndBarNumber = 1 — This parameter determines the last candle till which retracement will be plotted. Default value is 1 – this is the last candle on the chart (0 is the current candle). The current candle is not completed yet. So if we set this parameter to 0, we should be ready for redraw.

Trend break parameters — Adjustable Parameters for Trend Breakthrough.

  • TrendBreakEndLevel = 0.618 — Level to break through to "cancel" a trend. Retracement plotting is checked for breakthrough of this level. Its default value is 61.8 according to V.Pershikov.
  • TrendBreakCandlePercent = 100 — Part of a candle body as percentage, which must be broken through by the specified level of trend cancellation to record such cancellation. Attention! According to V.V.Pershikov this percentage is 66%. Default value is 100%. That means that the entire body of the candle must be above/below the level.
  • ShowAdditionalLevels = false – if set to True, it shows additional levels: 76.4, 85.4, 91.

Further, there are setting parameters for plotting retracements for each timeframe. I will describe settings for H1, other timeframes are set similarly.

  • NameH1 = "PRH1" – Name of Fibonacci line object
  • TrendMinBarsH1 = 10 – Minimum allowed number of H1 bars in the trend according to which retracement is plotted
  • TrendMaxBarsH1 = 400 – Maximum number of H1 bars to plot retracement
  • TrendMinSizeH1 = 0 – Minimum number of pips in the trend (particularly pips, not points, i.e. for 1.10182 point of EURUSD the fourth digit is 8, and pips for the fifth digit is 2). If there are less pips, the trend is considered to be absent.
  • FiboColorH1 = Purple – Retracement color. We took default value according to V.Pershikov
  • FiboStyleH1 = 0 – Style of retracement lines (dashed, dot-and-dash)
  • FiboWidthH1 = 1 – Width of retracement lines
  • BreakCheckStep = 1 — Parameter influencing on productivity. Trend breakthrough is calculated not on every candle but in a number of candles specified in the parameter. If there are no any productivity problems, leave default value.
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Currency Strength Meters are a great way to identify strong and weak currencies. With this CSM indicator attached to your chart, you will get a clear overlook over the 8 major currencies: USD, EUR, JPY, CAD, CHF, GBP, AUD, and NZD. Suggested timeframes to scan is: M15 - H1 - H4 - Daily  You can however just change timeframe to check in the settings. Bear in mind that scanning very low timeframes such as M1 will require a lot of resources and might make your mt4 terminal slow.  The strength s
129 USD
Supply and Demand Dashboard PRO
Bernhard Schweigert
CURRENTLY 20% OFF !! ⭐⭐⭐⭐⭐  This DASHBOARD is a very powerful piece of software working on multiple symbols and up to 9 timeframes. It is based on our main indicator (Best reviews:  Advanced Supply Demand ). The new DASHBOARD gives a great overview. It shows: filtered Supply and Demand values including zone strength rating, pips distances to/and within zones, it highlights nested zones, it gives 4 kind of alerts for the chosen symbols in all (9) time-frames. It is highly configurable for your p
199 USD
Color Candles Show the Trend Change
Ziheng Zhuang
The indicator includes two parts. Part I: Color Candles Show the Major Trend Color candles is to identify the market state by color candlesticks. As shown in the screenshots, if the color is Aqua, the market is in a state when you should place long orders or exit short orders. If the color is Tomato, it is the time to place short orders or exit long orders. If the color is changing, it is better to wait for its completion (until the current bar is closed). Part II: Draw bands The inner bands is
50 USD
Currency Strength Matrix
Raymond Gilmour
THE ONLY CURRENCY STRENGTH INDICATOR THAT IS BASED ON PRICE ACTION. DESIGNED FOR TREND, MOMENTUM & REVERSAL TRADERS This indicator  reads price action to confirm trend and strength . Advanced multi-currency and multi-time frame indicator that shows you simply by looking at one chart, every currency pair that is trending and the strongest and weakest currencies driving those trends. For full details on how to use this indicator, and also how to get a FREE chart tool, please see user manual HER
98 USD
AP Blocks Trend Signal
Andre Pier
** to all buyers: Thank you for your support! Please book a coaching session so I can teach you the correct usage of the indicator here:  https://pier-tutoring.youcanbook.me The AP Blocks Trend Signal Indicator is a visual, easy to handle non repainting indicator which helps you to determine the beginning of a trend and enter a trade accordingly. Three Blocks show you the trend on different timeframes (ranges in case of renko). If all blocks have the same color at the end of the candle, th
50 USD
Best Currency Strength Indicator
Tumelo Rakotsoane
Advanced Currency Strength Indicator The Advanced Divergence Currency Strength Indicator. Not only it breaks down all 28 forex currency pairs and calculates the strength of individual currencies across all timeframes , but, You'll be analyzing the WHOLE forex market in 1 window (In just 1 minute) . This indicator is very powerful because it reveals the true movements of the market.  It is highly recommended to  analyze charts knowing the performance of individual currencies or the countries ec
149 USD
TPA True Price Action MT4 Indicator
InvestSoft
TPA True Price Action indicator reveals the true price action of the market makers through 100% non-repainting signals (except early signals mode) strictly at the close of a candle! TPA shows entries and re-entries, every time the bulls are definitely stronger than the bears and vice versa. Not to confuse with red/green candles. The shift of power gets confirmed at the earliest stage and is ONE exit strategy of several. TPA has been developed by traders for traders and is not another combin
168 USD
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