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Simple Fibonacci Trading

thx ferrufx and -er-
Attached the updated version. It has a 2nd partial closure option.

If you set "Close_Partial_At_TP2_Percent" to 0, the EA will act normally like version 4.

If set to a percent value, the EA will partial close at "Level_TP2" and the remaining lot will continue until "Level_TP3".

Tested only on backtester (market closed) ... so let me know.
Attached File
File Type: ex4 FibonacciTradeManager_v5.ex4   18 KB | 553 downloads
MT4/MT5 EAs/Indicators/Alerts coder
Quoting FerruFx
Attached the updated version. It has a 2nd partial closure option.

If you set "Close_Partial_At_TP2_Percent" to 0, the EA will act normally like version 4.

If set to a percent value, the EA will partial close at "Level_TP2" and the remaining lot will continue until "Level_TP3".

Tested only on backtester (market closed) ... so let me know.
i am so new in trading and dont know anything about EA...
can you tell me how to install, set up and use it ??

we still trade manually right ??
Quoting fathonezic
i am so new in trading and dont know anything about EA...
can you tell me how to install, set up and use it ??

we still trade manually right ??
Everything is well detailled in this thread. You should read the whole thread before jump with the EA ...
MT4/MT5 EAs/Indicators/Alerts coder
Quoting fathonezic
hello hugh....

i am a new trader... been trading for about 3-4 months and found that fibo method is the best for me.... i have quite the same method as you have.
50% retracement. my problem is sometimes the price didnt retrace but move to break 100% fibo...

i found that your method is good. i trade directly once the price touch 50%. instead of doing that, you choose to place buy/sell stop. looks like it will filter some bad trades.

can i join this thread and maybe post some of my set up ??

hugh, how to find a good TP ?? i dont understand...
Hello, yes, post all your setups. The fib extension is just a way of predicting where the next impulse wave will come to an end. There are many good books about fib trading, perhaps a good idea to read one or two?

There is also lots of info about how to use ea's if you look.
Quoting evilmeatball
can anyone help me and share some tips about which top and bottom to chose and why? i've been trying to figure out a mechanical way to decide this but im not 100% there. so i ask anyone really, some tips?
Try using the zigzag indicator, lots of times that picks out the perfect swing highs/lows.
Quoting FerruFx
Everything is well detailled in this thread. You should read the whole thread before jump with the EA ...
thanks, i will surely read whole of this thread...
still in some early pages now...

fathin
Quoting Hugh Briss
Hello, yes, post all your setups. The fib extension is just a way of predicting where the next impulse wave will come to an end. There are many good books about fib trading, perhaps a good idea to read one or two?

There is also lots of info about how to use ea's if you look.
thanks hugh...
will read your thread first before i give you some question...


fathin
Quoting TopCover
Hugh

You have demonstrated great generosity and not a trace of "hubris" in sight! Lol! Really appreciate this and wish prosperity for you and yours....
++++++++++++++++

Spot on observation TC. I've read alot of threads lately where 'tudes were in charge. Nothing like that here!

Thanks Hugh, Ferru and all others.
Darryl

"Daily I strive to be the man my dog thinks I am"
Quoting FerruFx
Attached the updated version. It has a 2nd partial closure option.

If you set "Close_Partial_At_TP2_Percent" to 0, the EA will act normally like version 4.

If set to a percent value, the EA will partial close at "Level_TP2" and the remaining lot will continue until "Level_TP3".

Tested only on backtester (market closed) ... so let me know.
Thank you very much I will test at the open if something sets up.
Quoting evilmeatball
can anyone help me and share some tips about which top and bottom to chose and why? i've been trying to figure out a mechanical way to decide this but im not 100% there. so i ask anyone really, some tips?
Nothing better than backtesting it takes alot of chart time. Fibs are subjective so theres no right way.
Quoting diamonddbw
++++++++++++++++

Spot on observation TC. I've read alot of threads lately where 'tudes were in charge. Nothing like that here!

Thanks Hugh, Ferru and all others.
Darryl

"Daily I strive to be the man my dog thinks I am"
Thanks for the comments. This thread is definietley about a team effort to use and improve a simple method. There are some excellent contributors to this thread that make it what it is. My part was just having the simple idea but with the help of others I believe we have created something good.
what do you guys think of this setup, trend reversal or a continuation of the downtrend?
http://i112.photobucket.com/albums/n...ex/nzdusd1.jpg
Out here could get a nice bounce.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 29 KB
Quoting adz189
what do you guys think of this setup, trend reversal or a continuation of the downtrend?
Let the EA do the job ...
MT4/MT5 EAs/Indicators/Alerts coder
Quoting FerruFx
Let the EA do the job ...
Can you please help us to fix the bugges in the indicator 60mm dashboard V6.zip.

Details you will get in the following
http://www.forexfactory.com/showthread.php?t=351370 link.

Fxtr51 is new coder and he is learning and developed a excellent dashboard for signal for engulfing,inside bar,alternate signal.But its having some bugs.

1. Signal not updating in dashboard automatically.Sometime need to change the time frame to update the signal in the dashboard.

2. Signal alert pop up window showing signal alet with blank text.

Hope you will be able to help in this.

Regards,
Bedayan.
Quoting adz189
what do you guys think of this setup, trend reversal or a continuation of the downtrend?
Impossible to tell, use a sensible position size.
Quoting Hugh Briss
Impossible to tell, use a sensible position size.
I trade ranges, and I also like this theory too, my account balance can handle this size position, thanks.

And not too fond of EA's. I like to take all my trades manually, who know's what the future holds.

Cheers.
Quoting adz189
... not too fond of EA's. I like to take all my trades manually, who know's what the future holds.
This EA isn't trading alone. It trades only where you are telling him to trade ... And once the trade is entered, even if your platform shud down, you have target/stop in place. I can't see the risk with this EA.
MT4/MT5 EAs/Indicators/Alerts coder
Quoting FerruFx
This EA isn't trading alone. It trades only where you are telling him to trade ... And once the trade is entered, even if your platform shud down, you have target/stop in place. I can't see the risk with this EA.
I agree, this is anything but set and forget. It takes some half sensible analysis to get the best out of it.
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