Fibo Cluster/confluence

Hello all,

Just in the name of laziness- Does anybody have an mql (metatrader) indicator for displaying fibonacci confluences, something along the lines of the 'Nexgen T-3 Fibs' minus the 7 grand expense??

I'm not a fan of technical indicators- but I use fibo confluences/clusters a lot- as I believe most in here do- and thought this would be useful.

Thanks,


-Jerry

It's not the exact same thing, but you should try ZUP. It displays fib ratios between swing highs and lows from a ZigZag indicator, and detects harmonic patterns. I think it has even more functions, but most info is in Russian only.

Imho, it's one of the most sophisticated indicators out there for free .

Thanks very much-

looks a little 'far out' for my tastes- do you use it at all? I mean i understand the idea- but how would you use it in providing information about areas of S/R?

-Jerry

Well, the issue seems to be that it doesn't display the reversal levels much in advance.

I've just found it a few weeks ago, but so far it gave a few nice signals. As I understand, the displayed patterns are based on confluence of at least two fibonacci levels. Not exactly a cluster, and of course they can be broken, as any support or resistance, but still offer a good risk/reward ratio. It's also helpful if you don't care for the patterns, but only for the ratios, as you don't need to measure them yourself.

Haha,

just found my old thread. I don't suppose anybody found something in the last year?


Thanks again, JTD

hi jerry!

found something about pivot and fib clusters, but it´s in german,
but you can try google translation.

the link is:

http://www.scalp-trading.com/traden-...pivot-cluster/

hi!

here an other indi not tested yet.

http://tradingarsenal.com/indicators...-clusters.html