[quote=aha]Hey Lietuve,
Can you tell me when you put the fibo channels on and why you put the fibo channel in a downward direction at the time (against the major trend)? Maybe I can incorporate your wisdom into the I-LRC indicator.
aha
Hi, aha.
I appologize for responding so late to your question. As jedies would say my batteries needed to be refilled (I slept a lot). Than again, rereading my post I think it sounded kind of critisizing or rude. Nothing further from my mind. I love this thread, I appreciate your work, all I wanted - to be of as much help as I can. Unfortunately this concept of countertrend of mine is very easy to show, but not easy to explain (having in mind my faulty English). All I can say in a short response is: the parameters of Fibo retracement tool and Fibo channels has as a parameters data and values for that data in it. It depends where you put the data and value of the Highest value, where you put the data and value of the Lowest value you want the tool to calculate, in case of the Fibo channels tool, there is also a data and value to put in as a width of a channel. To make the lines more precise I enter the data there instead of drawing the lines by hand (which is good for EA - because you can reffer to a specific time and a specific price, not beeing just Highest n periods ago, but Highest/Lowest from date... to date...) but these are just details we can talk later if you are interested). So, while following the trend I use it as a "countertrend" tool kind of "in case this happens, what is going to happen..." and update it every time a significant move in an established trend occurs (I enter a new time and price values). So I cannot show you how it worked in the past, but it is so easy! I made two shots of charts of eurusd from the past - you will see what I mean - the fibo retracements and fibo channels and how it worked. I can paste only one chart at a time, so it'll take a lot of space in a thread (my appologies for those who are not interested).
Also feel free with any constructive critisizm, I have a thick skin and I have seen it all
Here goes the first chart...
Can you tell me when you put the fibo channels on and why you put the fibo channel in a downward direction at the time (against the major trend)? Maybe I can incorporate your wisdom into the I-LRC indicator.
aha
Hi, aha.
I appologize for responding so late to your question. As jedies would say my batteries needed to be refilled (I slept a lot). Than again, rereading my post I think it sounded kind of critisizing or rude. Nothing further from my mind. I love this thread, I appreciate your work, all I wanted - to be of as much help as I can. Unfortunately this concept of countertrend of mine is very easy to show, but not easy to explain (having in mind my faulty English). All I can say in a short response is: the parameters of Fibo retracement tool and Fibo channels has as a parameters data and values for that data in it. It depends where you put the data and value of the Highest value, where you put the data and value of the Lowest value you want the tool to calculate, in case of the Fibo channels tool, there is also a data and value to put in as a width of a channel. To make the lines more precise I enter the data there instead of drawing the lines by hand (which is good for EA - because you can reffer to a specific time and a specific price, not beeing just Highest n periods ago, but Highest/Lowest from date... to date...) but these are just details we can talk later if you are interested). So, while following the trend I use it as a "countertrend" tool kind of "in case this happens, what is going to happen..." and update it every time a significant move in an established trend occurs (I enter a new time and price values). So I cannot show you how it worked in the past, but it is so easy! I made two shots of charts of eurusd from the past - you will see what I mean - the fibo retracements and fibo channels and how it worked. I can paste only one chart at a time, so it'll take a lot of space in a thread (my appologies for those who are not interested).
Also feel free with any constructive critisizm, I have a thick skin and I have seen it all
Here goes the first chart...
Attached Image