Spud's MTF FIB Breakout System

Hi spud
I have dowloaded yhis indicator
but it gives me a crossalert u 76.4 adn the indicator is crossing down
and when the signal is down 23.6 it gives me a up alert
did I do simething wrong

Tks Réal

Helllo I could use someone to help me in private with my trading
so if there is someone interested

tks Réal
Quebec Ca

I will look like an idiot because everyone seems to understand the system correctly but could someone explain me what are the point of the fibs if we just look at the stochs for the exit ???

Please,
Can someone help me modify the attached indicator so that the display value would be at the center of the chart, so that i can display other indicators by the side of the chart.

Thank you.

WOW! I like the looks of this system!! I've been backtesting it on GU and GJ all morning, looks like I would have had some GREAT results if I had found this earlier!!! Thanks!

Karl

Well, I traded using this system for the first time last night, and as expected, I had WONDERFUL results! I traded on GBPUSD and GBPJPY. I made 82 pips on GU and 67 on GJ!! I can't believe how easy this was, and how well it worked! Although I did have a feeling that it would work great based on my paper backtesting. Anyhow, thanks a million to Spud, I will keeping working on the application of this system, tailoring it to my own comfort.

I would like to hear anyone else's input who have used this system, regarding trailing stops (I was using a 25 point TS last night). I think I may need to go a bit larger, but we'll see.

Thanks in advance to anyone who posts. I'm interested in talking with anyone who is still using this system or a similar one.

Karl

Hi there, great ersults...I really like Spuds other method the Escalator to pips method but I really want to backtest it with vhands and cant figure out how yet. I cant get the indicator to work in vhands...maybe I should try this method...Joe

Why did you paper trade this instead of vhands for backtesting?

I wish I could read this earlier. Will try it. Thanks.

The only thing I regret is not having found this thread before.
I wonder know if anyone has built this strategy in Range Bars Charts, if so, please let me know, it improves a lot.
Best regards
jusiur

Anybody still trading this method with the m30 and 1hour stochs without the h4 stochs with any success?

Thanks to spud for all his input here, read this thread 2 times now, it deserves a bump for all the great info here. Keeping a close eye here...

could anyone please help code one of the spudfibo so that it alerts when price rises above 100 or drops below 0 by xxx pips (adjustable if possible ?)
i have looked everywhere for this ..


many thanks
Nelly

please keep this thread keep alive..very interesting method

Hi fellow traders, I was wondering if anyone is currently trading this system at all? Or has, in the past. It looks promising, and I have just set up my charts to give it a whirl this week.

regards
BT

not sure if spuds fib will work with mt4 600 + version BT, tried to load it on my mt4 today but it doesn't show in the indicators on restart

I wasn't aware that many older posted indicators don't seem to work on mt4 600. That's a pity. I don't use MT myself so I did't know (I built this indicator on Sierra Chart). Too bad.

Thanks anyway for the reply!

regards
BT

I re-compiled the "#SpudFibo.mq4" file with an old MT4 509 build as that usually does the trick for older codes as long as you only use the .ex4 file instead of the .mq4 file. Make sure to delete the .mq4 file from your MT4 indicator folders. I tested the "#SpudFibo.ex4" file on my MT4 670 build and it seems to be working...

Okay, up and working, thanks Aad , now to learn to use it. On with me glasses

I've looked at a few instances of using an M1 or M5 chart and found that if price penetrates YHigh or YLow, it usually continues on to the 123.6 without a big drawdown.
The one exception was before 2 pm (in the illustration below, notice the reaction to round numbers 107 and 108).

Has anyone else investigated this more thoroughly?

Yes, I know, 2010 was a while ago, but same observation currently.

I only found this thread last week. Been backtesting it solid and its fantastic. Forward tested from yesterday and I am 4 from 4 with over 300 pips profit. So simple. I now add the multiple Stoch to my daily system as well as a final confirmation when I am about to enter.

I follow the original rules for breakout of yest high or low AND both stochs in 76 or 24 territory. I use the 50% point as my stop but it rarely reaches it. I aim for 20p or let it run if I am watching it or close it when longer term stoch (14,3,3) crosses the 50 line on the stoch. Today I picked up +20p and +165p!

For me the day opens at 7am so I can be $500 up by lunch time

Awesome!