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Attachments: My Fibonacci trading system
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My Fibonacci trading system

Hi Dr. Bean

You did some very good improvement on the G7 indicator.

However if you have the time, could you have a version where, instead of selecting which currency you want to show, it automatically display the two currencies corresponding to the currencies displayed on the chart.
A similar way to the what it has been done in the attached indicator
Attached File(s)
File Type: mq4 CC_ok.mq4   18 KB | 499 downloads
G7_USD v1.3
-Setting to enable/disable auto selection of currencies corresponding to the current pair in chart.
Attached File(s)
File Type: mq4 G7_USD_v1.3.mq4   11 KB | 839 downloads
You can find answers to your question by searching/reading this thread and also find alternative indicators.

Quoting mindreality
Hi,

I installed and activated the G7 indicator, but it doesn't work.

I already set the parameter to 6303590 and have show all in my market watch.

But I still see nothing in my G7 indicator window.

How do I make it work?
Quoting Dr_Bean
G7_USD v1.3
-Setting to enable/disable auto selection of currencies corresponding to the current pair in chart.

Thank you, very much
The G7 indicator worked for me. Please check your settings.
Dr_Bean.. thanks for the indicator but i think the NZD is missing would you please add it if its no problem, TIA i really appreciate what your doing.
Put a buy limit 3x at 112.34, 10 pips b4 the 61.8% Fibo. SL 111.94 and TP 2x before COP 113.41 and 1x 113.91 (Before OP).
guys could some one plz summarize this strategy with a clarifying picture.
I've read it from the beginning, maybe its me but i still don't know do we use the G7 indicator to go against it if it exceed 1 and -1 or do we go with the trend and also what's the use of the 1H and do we use the 38% to enter or to exit when ever i think i'm getting it the next reply talks about totally different approach so would some one be kind enough to explain it in plain english here cuz i think wjqblog has done a great work here and i really appreciate his sharing and welling to help so if some one could guide me here i'd really appreciate it..thax
Hi Cementman, base on yr understanding.... can you post a chart and ask questions that you are not clear?
Thanks freedomsg for your prompt reply, well my understanding is that we wait for the first cross over +1 and -1 for the pair then we look at the first fibo retracement to the 38% where we place our trade in the same direction that is indicated by the G7 indicator ( like short in the pic. attached) and we place a 20 pip SL from our entry. then we target 100 fibo extension as our first target and 161 as our second target.

is that right?
Attached Image (click to enlarge)
Click to Enlarge Name: Fibo..jpg Size: 157 KB
Quoting cementman
Thanks freedomsg for your prompt reply, well my understanding is that we wait for the first cross over +1 and -1 for the pair then we look at the first fibo retracement to the 38% where we place our trade in the same direction that is indicated by the G7 indicator ( like short in the pic. attached) and we place a 20 pip SL from our entry. then we target 100 fibo extension as our first target and 161 as our second target.

is that right?
Hi Cementman, yes... then why u are confuse? However, some traders will take it only when it retrace deeper to 61.8% and with the support from Stochastic. The most important thing is to watch the PA. Some buy when it hit the level, some buy b4 the level and some wait till the candle close than they buy. When trading fibo, it is not machanical at all. Hope that help. Come out yr own system and at least follow it 20 to 30 trades. And every pairs behave differnetly. Cheers
Are we going to short at 61.8%? Not for me yet, stochastic still in midway. I may be wrong... better be safe ....
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 17 KB
thanks again freedomsg, what got me confused maybe is that i don't see you for instance showing 15m charts you're working on 1 h and i can't even see the main indicator that shows the strength between the pairs. also if i'm in a trade and the G7 indicator reverse but not exceeding the 1 and -1 value do we get out immediately .again i really appreciate your help here.
Quoting freedomsg
Are we going to short at 61.8%? Not for me yet, stochastic still in midway. I may be wrong... better be safe ....
It come out to be a winning. UJ retrace from 61.8% with the resistant of 200 SMA. Retrace back to COP 61.8%
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 26 KB
Quoting freedomsg
Put a buy limit 3x at 112.34, 10 pips b4 the 61.8% Fibo. SL 111.94 and TP 2x before COP 113.41 and 1x 113.91 (Before OP).
Close all 3x at 113.21, before i go to bed.... A nice 87 pips
Attached Image (click to enlarge)
Click to Enlarge Name: ej26jun.gif Size: 24 KB
Quoting cementman
thanks again freedomsg, what got me confused maybe is that i don't see you for instance showing 15m charts you're working on 1 h and i can't even see the main indicator that shows the strength between the pairs. also if i'm in a trade and the G7 indicator reverse but not exceeding the 1 and -1 value do we get out immediately .again i really appreciate your help here.
Why I am using 1 hr? Because i am having a day time job. I have limited on screen time for 15 mins TF. Therefore, I am more comfortable with 1 hr tf. Yr question, the G7 will only lead you to eye ball the trade for retracement. When come to exit, it will depend on yr TP level. Fibo expansion.. 61.8, 100 or 168%. It will also depend on the time you are looking at. Normally at New York afternoon, the activities is going down. And also the PA. You get set and forget or keep looking at the PA. For me, I will set 10 to 15 pips before the COP 61.8%. Look at my yesterday trade for EJ. Post yr charts and we will learn together. It is not about right ot wrong. Fibo trading is a leading indicator compare to all lagging indicators. When we make mistakes, we learn from its. Pip26 will be back tonight if I am correct. He is also active in this area too. Cheers
Due to my work commitment.. I can't go on screen always. The chart that I post is taken in the morning (singapore time) .. and I set an alarm to trigger me at 1.0505.. which is another method of safe entry. Buying insurance... if we predict that the price will go to Expansion COP 0.68% .. I went in long after it pass the 200 SMA (major resistant and the 00 level. I in and out of this trade within 5 mins ago... TP at 1.0541 (10 pips before COP) 36 pips pocketed...
Attached Image (click to enlarge)
Click to Enlarge Name: uc.gif Size: 25 KB
I took that EJ trade too, thanks for pointing it out, freedom! Was my second live trade with this system and worked out beautifully.

I saw the UC trade yesterday but then started to second-guess myself and didn't take it. That would have worked out nicely too!
Quoting cChris
I took that EJ trade too, thanks for pointing it out, freedom! Was my second live trade with this system and worked out beautifully.

I saw the UC trade yesterday but then started to second-guess myself and didn't take it. That would have worked out nicely too!
Hi Chris, practics make perfect. When in doubt, stay away... it is nothing wrong with that. Chances are somewhere round the corner aways. Post more charts and we learn together. Cheers
I am looking at this two pairs today. Setting the alarm to trigger me at UJ 87.16 and GU 1.5510. Than I will check the time and Soc at that time. Happy trading
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: uj.gif Size: 25 KB
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