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The Fibonacci channel projections (FCP)

  • #181
  • Apr 11, 2020 2:34pm Apr 11, 2020 2:34pm
Quoting chrisjia
I don't have this FCP channel indicator in my MT4,Where can I download it?
MT4 -> Insert -> Channels -> Fibonacci
Change Level to 1 2 3 as per image
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #182
  • Apr 11, 2020 4:25pm Apr 11, 2020 4:25pm
Please do look through the image below, I tried to use my phone. Kindly give feedback.

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200411-222249.png Size: 197 KB
Begin with the end in mind
  • #183
  • Apr 11, 2020 11:21pm Apr 11, 2020 11:21pm
Quoting Seysin32
Hello friends! I recorded short videos about how I draw the FCP. Important points I mark in yellow circles. When I'm doing it for myself, I spend on it only 5 seconds. While I post only one video. I hope, you will like it. https://youtu.be/s2M-302JjCs
Love your simple method and the video . Thank you for doing this . Learn to trade pullbacks , more than one wise trader has said that . Great music . Is that Django Reinhardt ?
  • #184
  • Apr 11, 2020 11:23pm Apr 11, 2020 11:23pm
Quoting Luttlebird
Please do look through the image below, I tried to use my phone. Kindly give feedback. Thank you. {image}
1. This is from post 1 with a link to post 43. In the second chart, it mentioned "Not a single shadow or body of a candle should cross the red line".
2. You Fibonacci Channel has 4 lines with unequal distance between them. Should have 5 lines with equal distance.
3. My chart for your comparison.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 27 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #185
  • Apr 12, 2020 12:33am Apr 12, 2020 12:33am
Quoting Inthebox
{quote} 1. This is from post 1 with a link to post 43. In the second chart, it mentioned "Not a single shadow or body of a candle should cross the red line". 2. You Fibonacci Channel has 4 lines with unequal distance between them. Should have 5 lines with equal distance. 3. My chart for your comparison. {image}

Thank you for your response. I'll look at the corrections and advise you made.
Begin with the end in mind
  • #186
  • Apr 12, 2020 3:10am Apr 12, 2020 3:10am
a number of people pm requests how to get the mt4 fcp tool and draw fcp.
1. go to post 181 for mt4 FCP tool.
2. go to post 175 and watch video 3 times.
3. go to post 1 and read 3 times with all the links.
4. keep on repeating 2 and 3 till you understand.
ITB - Seeing Orderliness amongst 'Randomness'
  • #187
  • Apr 12, 2020 5:26am Apr 12, 2020 5:26am
Quoting steel777
{quote} Love your simple method and the video . Thank you for doing this . Learn to trade pullbacks , more than one wise trader has said that . Great music . Is that Django Reinhardt ?
Thank you, my friend. Yes, this is Django Reinhardt - Minor Swing.
  • #188
  • Apr 12, 2020 6:25am Apr 12, 2020 6:25am
hi there,

is it a must for point 3 to only coincide with the mid channel? or it can coincide with the last line too?

also, how do you draw a perfect channel whereby point 3 coincides with the mid channel, i tried doing it with mt4 but it is not accurate...

thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB
  • #189
  • Apr 12, 2020 7:17am Apr 12, 2020 7:17am
Please what do you make of this chart?

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH1.png Size: 29 KB
Begin with the end in mind
  • #190
  • Apr 12, 2020 8:25am Apr 12, 2020 8:25am
Quoting Luttlebird
Please what do you make of this chart? Thank you. {image}
hmmmm ....... go back to basic foundation post 1.
does it matches the instructions and images there?
ITB - Seeing Orderliness amongst 'Randomness'
  • #191
  • Apr 12, 2020 8:51am Apr 12, 2020 8:51am
hello friends can you look at my pic is it correct ?

Attached Image (click to enlarge)
Click to Enlarge Name: ah bunu bi çözsem.JPG Size: 113 KB
  • #192
  • Apr 12, 2020 9:30am Apr 12, 2020 9:30am
Quoting ildaa89
hello friends can you look at my pic is it correct ? {image}
if your entry is at fib 100, then your point 1 should be adjusted to the one on the right of your point 3.
quite some time had passed since your point 1.
do not like your point 3 as there were many jagged retraces from your point 1 to 3.
your FCP looks weird.
i wonder why you did not see my posts today on that. and i posted twice.
if the FCP is not right, so resulting the fib target is not right.
ITB - Seeing Orderliness amongst 'Randomness'
  • #193
  • Edited 11:06pm Apr 12, 2020 10:10am | Edited 11:06pm
Quoting ildaa89
hello friends can you look at my pic is it correct ? {image}
Hi
Read the following posts , to adjust your channel itself first and then ....
https://www.forexfactory.com/showthr...1#post12871951
https://www.forexfactory.com/showthr...0#post12857190
https://www.forexfactory.com/showthr...6#post12871026
https://www.forexfactory.com/showthr...9#post12871249
Good luck
&
Mr. Seysin32,
Thanks again & again & again ...
For this wonderful thread & for every of your posts & special thanks for the video .
  • #194
  • Apr 12, 2020 10:10am Apr 12, 2020 10:10am
Hi Seysin32,

Thank you very much sharing the such a great system..

Fxwinnerz
  • #195
  • Apr 12, 2020 11:32am Apr 12, 2020 11:32am
sorry but i couldn't fully understand the importance of number 3
sorry but i couldn't fully understand the importance of number 3
  • #196
  • Apr 12, 2020 12:45pm Apr 12, 2020 12:45pm
Quoting ildaa89
sorry but i couldn't fully understand the importance of number 3 sorry but i couldn't fully understand the importance of number 3
the purpose of point 3 is to measure the width of the channel, which will affect the width of fibonacci 0 to 100, which will after the target.

from post 1.
"Usually we get point 3 by placing a max (min) swing on the midline of the channel, but the best place for the point 3 would be a straight continuous movement as far as possible from point 1 or point 2."

i prefer point 3 drawn from point 2 from this example in my chart, in which case the other end of the channel is used.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 27 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #197
  • Apr 12, 2020 1:27pm Apr 12, 2020 1:27pm
thank you for the wonderful thread and a detailed write up i continue to fail to get the channels and the size measurement to draw the fibo levels i wouldnt want to give up even before i start can someone get a small video showing the channel creation and the the fibo tool please? thank you
  • #198
  • Apr 12, 2020 1:36pm Apr 12, 2020 1:36pm
Quoting anjane
thank you for the wonderful thread and a detailed write up i continue to fail to get the channels and the size measurement to draw the fibo levels i wouldnt want to give up even before i start can someone get a small video showing the channel creation and the the fibo tool please? thank you
Go to post #175 see link here https://www.forexfactory.com/showthr...7#post12870687
Begin with the end in mind
  • #199
  • Apr 12, 2020 1:42pm Apr 12, 2020 1:42pm
Quoting Inthebox
{quote} the purpose of point 3 is to measure the width of the channel, which will affect the width of fibonacci 0 to 100, which will after the target. from post 1. "Usually we get point 3 by placing a max (min) swing on the midline of the channel, but the best place for the point 3 would be a straight continuous movement as far as possible from point 1 or point 2." i prefer point 3 drawn from point 2 from this example in my chart, in which case the other end of the channel is used. {image}
In the image, please how did you determine the 127.2 level that is above the 0.0 level. It doesn't have the same with as the 127.2 level below the 100.0 level.

Thank you.
Begin with the end in mind
  • #200
  • Apr 12, 2020 1:59pm Apr 12, 2020 1:59pm
Quoting Luttlebird
{quote} Go to post #175 see link here https://www.forexfactory.com/showthr...7#post12870687
Thank you the video does not use the standard mt4 tools if I am right it seems to be done using a different platform.
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