Anybody use Bollinger Bands that use fibonacci ratios??

Greetings everyone (first post),

Tony Juste @ fxstreet.com posts graphs frequently on his blog advisor.fxstreet.com which, as he explains, use Bollinger Bands that contain some sort of fibonacci retracement calcuation. He notes that this is not available on desktop programs and the system is rare even among professional trading programs.

I suspect that the Metatrader 4 community may have created thier own version for use within Metatrader 4.

Any leads?? Anyone heard of this before (bollinger/fibonacci combo)?

(I hope i can post this link from his site. If not, kindly remove, and i'm sorry)

thanks in advance!!
http://advisor.fxstreet.com/WindowsL...07%28II%29.jpg

I would love to have this too, I love Tony Juste review, and the Extreme OB/OS. Give quick pips

exactly! he refereces the envelope i'm talking about when explaining overbought or oversold.

i'd love to use it in mt4

I don't know how he derives his specifically - you can get roughly the same effect using two or more BB's with the same averaging length, and setting the width on each slightly differently, for example with one to 1 deviation, the other to two, or to 1, 1.6, pick-yer-poison, as they say...You have to be careful, note that on the example the price entered the almost overbought region and the retraced before going into the extreme-overbought condition, which doesn't get a mention. Same on the rhs of the graph. FWIW, I use something like this almost exclusively.

thanks for the input halifax!

CMS VT has the indicator. In fact I see evidence that the chart shown is from the CMS VT platform.

ah, thanks lou. ever heard of it on mt4? does it have a name?

I found a description of the indicator, simply named "Bollinger Bands - Fibonacci Ratio". this is from cmsfx.com:

Bollinger Bands - Fibonacci Ratios

Overview

The Fibonacci Bollinger Bands indicator is based on the same principles as the standard Bollinger Bands indicator developed by John Bollinger. The Fibonacci Bollinger Bands indicator bases its upper and lower bands on volatility just like the Bollinger Bands indicator does, but instead of using standard deviation as the measure of volatility, a Wilders Smoothed ATR is used in its place.

The middle band is a moving average used to establish the intermediate-term trend. The 3 upper bands are constructed by using the Wilders Smoothed ATR and multiplying it by each of the Fibonacci factors (1.6180, 2.6180, and 4.2360) and then adding the results to the middle band. The 3 lower bands are constructed in the same manner as the upper bands except their results are subtracted from the middle band.



I really find this indicator helpful, i'd love to see it on mt4!!

I coded this one out of curiosity and because it seemed somewhat simple to code. Anyway attached is the MT4 version of the indicator. I am extremely tired right now and I will post the indicator as is for you guys to test it and see if it is what you want...

thank you sergiu!!

i'm going to test it out today/tonight.

Thanks, Buckyshimp and Sergiu

IMHO this is a very interesting indicator – I’ve never come across it before. It’s uncanny how price is attracted to, and often turns on, one of these bands, even more so as timeframe doesn’t seem to matter.

I used to think that Fib ratios only “work” whenever/because of the “self-fulfilling prophecy” idea, i.e. if enough traders adhere to a technique, then their collective weight can create artificial support or resistance.

However, given that these Fibo-based Bollingers are largely unknown, their “accuracy” is uncanny (possibly even more so than the Vegas tunnels), and I find myself being drawn to their underlying numerological “superstition”: that the golden ratio is somehow mysteriously embedded into the human subconscious.

Also, I like the way in which they appear to be less excessively reactive to breakouts than traditional Bollingers.

Not the holy grail, but very impressive nonetheless.

David

PS One request: since the source code is unavailable, would it be possible to make the Fibo levels (currently 1.6180, 2.6180, and 4.2360?) customizable parameters? Thanks.

you rock man. i;ve been looking for this indicator for a while(as an avid reader of tony's blog and commentary) and couldnt find it, and haven't had the time to write it myself, so cheers to u!

Below is TS on the Fibonacci version of Bollinger bands works , i got his from below

http://forum.vtsystems.com/index.php...opic=5309&st=0

1.LONG.
1.1 Inner Bar
1.2 Low of candle preceding Inner Bar was less than Bollinger-Fibonacci ratio n (as specified)
1.3 High of candle immediately following Inner Bar was higher than High of Inner Bar
1.4 Take n pips profit (Price High)
1.5 Long Exit = First Heikin-Ashi color change + High of at least 1 candle was greater than Bollinger Fibonacci ratio n ( during last n peiods)
1.6 Stoploss = n pips below last close.

2. SHORT.
2.1 Inner Bar
2.2 High of candle preceding Inner Bar was greater than Bollinger-Fibonacci ratio n (as specified)
2.3 Low of candle immediately following Inner Bar was lower than Low of Inner Bar
2.4 Take n pips profit (Price Low)
2.5 Short Exit = First Heikin-Ashi color change + Low of at least 1 candle was less than Bollinger-Fibonacci
ratio n (during last n perios)
2.6 Stoploss = n pips above last close.

1.618, 2.618, 3.618

Hello this thread is dead off course but I am keenly interested in the indicator posted above by Sergiu. I am not sure if he is available or not I wanted to get a copy of sourse code of Fibonacci Bollinger Bands indicator by Sergiu. I have been studying price action with this indicator and believe me combined with some other indi's it can prove to be a nice winning system. I request you guys if it is possible to get the sourse code I want this indicator to be used in an EA so that I can check if the system I am trying is profitable or not?

Thanks for the attachment, nice indicator when well used.