Fibonacci cluster drawing tools for metatrader | Forex Factory

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Fibonacci cluster drawing tools for metatrader

  • #1
  • First Post: Edited Oct 25, 2019 12:51am Sep 26, 2019 9:18am | Edited Oct 25, 2019 12:51am
Hello,
I learn and test the way to use fibo clusters in my trading. I like the Carolyn Boroden style fibo cluster drawing, but very confusing in metatrader, that I can't delete the unnecessary lines.
So I made a small tools, what usefull for this: fast drawing and erasing levels on MT4 and MT5. I'm not mql programmer, so not to sophisticated the code, feel free to use or modify, and if there is better tool, please share here.
The buttons:
Attached Image


How to use:

Inserted Video


UPDATED 2019-10-17

The tools (MT5):
Attached File(s)
File Type: ex5 FiboClusters.ex5   33 KB | 865 downloads | Uploaded Oct 17, 2019 9:08am

Attached File(s)
File Type: mq5 FiboClusters.mq5   45 KB | 965 downloads | Uploaded Oct 17, 2019 9:08am

MT4
Attached File(s)
File Type: ex4 FiboClusters.ex4   19 KB | 1,058 downloads | Uploaded Oct 17, 2019 9:04am

Attached File(s)
File Type: mq4 FiboClusters.mq4   42 KB | 1,202 downloads | Uploaded Oct 17, 2019 9:04am


UDATE 2019-10-21

MT4 version with keyboard events:
Attached File(s)
File Type: mq4 FiboClustersV1_1.mq4   44 KB | 1,329 downloads | Uploaded Oct 21, 2019 8:37am


UPDATE 2019-10-25
MT5 version with keyboard events
Attached File(s)
File Type: mq5 FiboClustersV1_1.mq5   47 KB | 896 downloads | Uploaded Oct 25, 2019 12:50am
  • #2
  • Sep 27, 2019 6:26am Sep 27, 2019 6:26am
Great start - thanks for sharing....
  • #3
  • Sep 28, 2019 3:31am Sep 28, 2019 3:31am
Quoting Jagg
Great start - thanks for sharing....
thank You
  • #4
  • Sep 30, 2019 8:24pm Sep 30, 2019 8:24pm
Nice Tool
A good trader follows his rules, but great trader knows when to break them
  • #5
  • Sep 30, 2019 8:44pm Sep 30, 2019 8:44pm
Nice- I learned this method from Mark Braun- I believe he was a student of Carolyn
  • #6
  • Oct 1, 2019 3:10am Oct 1, 2019 3:10am
I'm happy, if You find this tool useful
I don't know Mark, I'll check his method!
  • #7
  • Oct 17, 2019 9:07am Oct 17, 2019 9:07am
First post updated, some error fixed on both versions.
  • #8
  • Oct 21, 2019 8:34am Oct 21, 2019 8:34am
For MT4 version, i added keyboard events: press D for draw, press E for change the erase mode on/off, and O for switch to extension mode.
You'll find it in the first post.
  • #9
  • Oct 21, 2019 9:35am Oct 21, 2019 9:35am
Quoting bowforex
Hello, I learn and test the way to use fibo clusters in my trading. I like the Carolyn Boroden style fibo cluster drawing, but very confusing in metatrader, that I can't delete the unnecessary lines. So I made a small tools, what usefull for this: fast drawing and erasing levels on MT4 and MT5. I'm not mql programmer, so not to sophisticated the code, feel free to use or modify, and if there is better tool, please share here. The buttons: {image} How to use: https://www.youtube.com/watch?v=I5YulC2TlJM UPDATED 2019-10-17 The tools (MT5):...
Wow!! Thank you for sharing. Let's start market analysis using Fibonacci Cluster!
  • #10
  • Oct 25, 2019 12:49am Oct 25, 2019 12:49am
Quoting markman
{quote} Wow!! Thank you for sharing. Let's start market analysis using Fibonacci Cluster!
Your wellcome

Now updated the MT5 version with keyboard events too.
  • #11
  • Dec 9, 2019 12:01am Dec 9, 2019 12:01am
Quoting bowforex
{quote} Your wellcome Now updated the MT5 version with keyboard events too.
Brilliant work, thank you very much!

Quick question, I had a look at the code, but could not find how to customise retracements and extensions values. Can you please help me out?
Hidden in plain sight.
  • #12
  • Dec 22, 2019 4:33am Dec 22, 2019 4:33am
Quoting jakucha
{quote} Brilliant work, thank you very much! Quick question, I had a look at the code, but could not find how to customise retracements and extensions values. Can you please help me out?
Thank You, jakucha! Sorry for the late answer.
So, in the beginning of the code there is variables, which contains the levels, and their colors:

string fiboLevels = "0,23.6,38.2,50.0,61.8,78.6,100.0,127.2,161.8";
string fiboAPPLevels = "61.8,100.0,161.8";

color fiboColors[] = {clrGray,clrGray,clrGray,clrBlue,clrGreen,clrRed,clrGray,clrPurple,clrGreen,clrGreen,clrGray,clrGray,clrGray,clrGray,clrGray};
color fiboAPPColors[] = {clrPink,clrOrange,clrPink,clrGray,clrGray,clrGray,clrGray,clrGray,clrGray,clrGray,clrGray,clrGray};

the levels are comma separated string: 0,23.6,38.2 etc...
That is mean, the first level is 0%, second is 23.6%, third is 38.2 etc. In the fiboColors variable are the connected colors: for 0% the color is clrGray, the second 23.6 is clrGray too, and so on.

If You change the fiboColors variable :
color fiboColors[] = {clrBlue,clrPink,clrGray,clrBlue,clrGreen,clrRed,clrGray,clrPurple,clrGreen,clrGreen,clrGray,clrGray,clrGray,clrGray,clrGray};

then the 0% should be blue, the 23.6 sould be Pink and so on.

In this way, You can customize the fiboAPP levels and colors too.
  • #13
  • Dec 22, 2019 8:58am Dec 22, 2019 8:58am
Quoting bowforex
Hello, I learn and test the way to use fibo clusters in my trading. I like the Carolyn Boroden style fibo cluster drawing, but very confusing in metatrader, that I can't delete the unnecessary lines. So I made a small tools, what usefull for this: fast drawing and erasing levels on MT4 and MT5. I'm not mql programmer, so not to sophisticated the code, feel free to use or modify, and if there is better tool, please share here. The buttons: {image} How to use: https://www.youtube.com/watch?v=I5YulC2TlJM UPDATED 2019-10-17 The tools (MT5):...
If you are into fibos, buy the Dynamic Trade software, the one Carolyn uses. By far the best, plus tons of fibo time tools...A couple of Fibonacci lines wonīt take you far..I had someone program an Indi for me years ago, that downloads the data from Metatrader, so you can open the charts in DT. I can share that for free.
  • #14
  • Dec 23, 2019 2:34am Dec 23, 2019 2:34am
Quoting cuchuflito
{quote} If you are into fibos, buy the Dynamic Trade software, the one Carolyn uses. By far the best, plus tons of fibo time tools...A couple of Fibonacci lines wonīt take you far..I had someone program an Indi for me years ago, that downloads the data from Metatrader, so you can open the charts in DT. I can share that for free.
Hello Cuchuflito, DT is the best, and Caroline and Robert Miner are my favorite traders, but DT software is too expensive for me, I don't have 1k for the software...
So this is, why I try to develop similar tools on MT4/MT5.
Do You use DT? Also I planed to develop some fibo time projection tools too on MT4.
  • #15
  • Dec 24, 2019 1:07am Dec 24, 2019 1:07am
I definitely use DT, actually have 2 licenses, on 2 PCs (the second one is way cheaper). The advantage of buying the software is that you can access loads of Miner's tutorials, on how to use the software, Fibos on Price, and Fibos on time. Dt has some unequaled Time routines: Time Rythm Zone, Time Bands, Dynamic Time Projections, Time counts, Fibonacci Time Blitz. You wonīt find those elsewhere.
Have a look at this weekly USDMXN chart.
The yellow box on top was calculated weeks in advance, using all the time routines I mentioned. It is just a time square. Granted it is a 3 week period.BUT, I wait till the oscillator is OB on that time span, THEN go to a lower time frame ( I trade 12 Hour charts), and there, calculate price targets with Fibonacci price tools. My last filter is DIVERGENCE, then I will add many entries (thatīs a different story), until I reach the opposite time box, again on the weekly chart.
60 % winners, and the winners, cause I scale in (never scale-out), give me fat winners, and thin losers.
The secret of trading is to keep your winners big and looser small right?
Iīm sure you can afford 900 bucks for the software. Any cab driver has to invest in a car, a smartphone, a Navi...etc...
Anyway, all the best. (Btw. Carolyn is good, read her book, but just a student of Miner, like comparing a standard soccer player with Messi).
Attached Image (click to enlarge)
Click to Enlarge Name: w.gif Size: 166 KB
  • #16
  • Dec 31, 2019 3:32am Dec 31, 2019 3:32am
Quoting cuchuflito
I definitely use DT, actually have 2 licenses, on 2 PCs (the second one is way cheaper). The advantage of buying the software is that you can access loads of Miner's tutorials, on how to use the software, Fibos on Price, and Fibos on time. Dt has some unequaled Time routines: Time Rythm Zone, Time Bands, Dynamic Time Projections, Time counts, Fibonacci Time Blitz. You wonīt find those elsewhere. Have a look at this weekly USDMXN chart. The yellow box on top was calculated weeks in advance, using all the time routines I mentioned. It is just a time...
Thank You very much for Your reply, I promis, I'll consider to buy the DT. I was subscribed on DT Report 3 months long, I readed his book, and I follow Roberts Youtube Channel but I can't pass to my trading style well. But I learned tons of valuable things!
  • #17
  • Jan 20, 2021 11:05am Jan 20, 2021 11:05am
Hi Cuchifluto. I am going to buy DT.

Above, you stated that you . ''had someone program an Indi for me years ago, that downloads the data from Metatrader, so you can open the charts in DT. I can share that for free.''

Would you help me with this so that I can download the data from metatrader?

  • #18
  • Last Post: May 15, 2021 5:52am May 15, 2021 5:52am
thanks for this amazing tool bowforex. it would be even greater if coupled with time projections. please let us know if you have developed time projections tool later on as you said above.
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