Simple Zigzag + Fibonacci Strategy | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Simple zigzag Expert Advisor - need help 7 replies

ZigZag - Keep It Simple Stupid 129 replies

Simple ZigZag modification 15 replies

simple zigzag alert 2 replies

ZigZag Indicator and Fibonacci Question! 9 replies

Attachments: Simple Zigzag + Fibonacci Strategy
Exit Attachments

Simple Zigzag + Fibonacci Strategy

  • #101
  • May 13, 2020 6:59am May 13, 2020 6:59am
Quoting MQLTrade
EN 1h, sell stop.... {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 40 KB
  • #102
  • May 13, 2020 7:01am May 13, 2020 7:01am
GJ 1H...
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 41 KB
  • #103
  • Edited 1:32am May 14, 2020 1:19am | Edited 1:32am
Quoting carddard
{quote} Adapting the OP's original rules as much as possible, I attempted to run a TDS tick data backtest to gauge if this is worth pursuing. TP & SL were missing from his original rules, so I made my own assumptions. Assumptions made: EURUSD, H1, Jan 2015 - Jan 2020 Default ZZ settings, buy / sell on HHHL / LLLH No other indicators Fib retracement level: 78.2% Fixed TP / SL: Within Fib levels {image}
The past few days of researching Fibonacci retracements has led me to conclude that in its simplest form, there are 2 ways I could trade this (let's not get into advanced Harmonic patterns. That's a discussion for another day).

Option 1, when coupled with the right convergence of indicators can be a high-probability set up.

With the OP's original rules, in order to avoid all the noise, I have concluded that the D1 time frame works best to filter out the tiny, distracting day to day movements. It also allows me to not have to worry about the red news that could potentially wipe out my returns. The downside of this is that it requires even more patience than I am used to, since the entries are far and few between.

Still a work in progress, but it seems like good progress is made.

Assumptions made:
USDJPY, H1, Jan 2011 - Jan 2020, no TP with TS only, SL within Fib levels
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.png Size: 21 KB
Click to Enlarge Name: 1.JPG Size: 65 KB
Click to Enlarge Name: 2.JPG Size: 439 KB
Click to Enlarge Name: 3.JPG Size: 255 KB
  • #104
  • May 14, 2020 11:19pm May 14, 2020 11:19pm
Quoting carddard
{quote} The past few days of researching Fibonacci retracements has led me to conclude that in its simplest form, there are 2 ways I could trade this (let's not get into advanced Harmonic patterns. That's a discussion for another day). Option 1, when coupled with the right convergence of indicators can be a high-probability set up. With the OP's original rules, in order to avoid all the noise, I have concluded that the D1 time frame works best to filter out the tiny, distracting day to day movements. It also allows me to not have to worry about...
Something that I can't wrap my head around is the seemingly magical use of Fibonacci numbers that is really just a self-fulfilling prophecy. In the most practical sense, the effectiveness appears to mirror any other support / resistance mechanic. What if bounced off the pivot point, or R1, or S1, instead of following the typical "golden ratios"? I can't seem to find evidence that Fibs as a standalone tool would be sufficient. Maybe coupled with other indicators, this could be a good way to trade swings?
  • #105
  • May 16, 2020 8:44am May 16, 2020 8:44am
Quoting PointToPoint
{quote} Something that I can't wrap my head around is the seemingly magical use of Fibonacci numbers that is really just a self-fulfilling prophecy. In the most practical sense, the effectiveness appears to mirror any other support / resistance mechanic. What if bounced off the pivot point, or R1, or S1, instead of following the typical "golden ratios"? I can't seem to find evidence that Fibs as a standalone tool would be sufficient. Maybe coupled with other indicators, this could be a good way to trade swings?
I think that it's a self-fulfilling prophecy simply because many trades use it, so it works fine

Stay safe & happy weekend
  • #106
  • May 18, 2020 2:44pm May 18, 2020 2:44pm
UC 1H.....buystop
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 37 KB
  • #107
  • May 19, 2020 2:26am May 19, 2020 2:26am
Some hooks placed on AU, NU, UC, GJ & EA, we will see if they will be triggered.....stay safe, stay GREEN
  • #108
  • May 19, 2020 2:37am May 19, 2020 2:37am
At moment this is Equity
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 6 KB
  • #109
  • May 19, 2020 3:08am May 19, 2020 3:08am
Added hook on GU..... nice pattern
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 30 KB
  • #110
  • May 19, 2020 5:03am May 19, 2020 5:03am
EA hit TP....
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 47 KB
  • #111
  • May 19, 2020 6:57am May 19, 2020 6:57am
Quoting MQLTrade
EA hit TP.... {image}
What is this indi?
  • #112
  • May 19, 2020 7:50am May 19, 2020 7:50am
Quoting james.trades
{quote} What is this indi?
Post 66
  • #113
  • May 19, 2020 3:04pm May 19, 2020 3:04pm
Hooks on AU, AJ, GN & GU triggered.....fishing is started.....
  • #114
  • May 20, 2020 3:20pm May 20, 2020 3:20pm
GJ...hit TP ....others still open
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 42 KB
  • #115
  • May 20, 2020 4:41pm May 20, 2020 4:41pm
Quoting MQLTrade
GJ...hit TP ....others still open {image}
it looks you are out of the author rules? nice trading.
so you do not draw fibo from h to LL?
  • #116
  • May 20, 2020 4:50pm May 20, 2020 4:50pm
Quoting BDfx77
{quote} it looks you are out of the author rules? nice trading. so you do not draw fibo from h to LL?
Well as i told before i'm a discretional trader, i don't like so much BLACK BOX. I use indicator to find in the fastest way good areas to trade.

About HH-LL, well indicators use HH-LL of swing leg that i use to trade (in my case , previous one )
  • #117
  • May 21, 2020 7:18am May 21, 2020 7:18am
Quoting MQLTrade
Added hook on GU..... nice pattern {image}
Closed
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 45 KB
  • #118
  • May 21, 2020 11:22am May 21, 2020 11:22am
Slowly GOLD is going to REV ZONE......
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 38 KB
  • #119
  • May 22, 2020 3:13am May 22, 2020 3:13am
Quoting MQLTrade
Some hooks placed on AU, NU, UC, GJ & EA, we will see if they will be triggered.....stay safe, stay GREEN
AJ....hit TP
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 46 KB
  • #120
  • May 22, 2020 3:14am May 22, 2020 3:14am
AU...hit TP
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 49 KB
0 traders viewing now