Retracement grid indicator

I've done some improvement to the manual testing by clicking on the "size" of the strategy tester will display the levels in order of size.
This will facilitate to count the "times" price reverse at specific levels, especially for the higher levels.
So for lots increased by 2 the levels will look like this:
0=0.01
1=0.02
2=0.04
3=0.08
4=0.16
5=0.32
6=0.64
7=1.28
8=2.56
9=5.12
10=10.24
11=20.48
12=40.96
13=81.92
14=163.84
15=327.68
etc.


level 11=0 times
level 12=3 times

at level 12 i would have placed sell orders with tp=50 and sl=20

buy test:
level 11=0 times
level 12=3 times

Sorry, for post #41, #42.
I've done some modifications.
On the strategy tester for the level to be counted in as "times" it has to show "t/p" and not "close"
I am still learning myself.

Thanks

I find the manual indication difficult to do and improve.
I am looking forward to the coding of the indicator.
Hopefully some volunteer coders will be kind enough to help.

Thank you

Here is a indicator that works with MT4 chart:




For the settings please check the creator's post:
http://www.forexfactory.com/showpost...20&postcount=1

I've been working with point & figure for about 2 months. Using one minute charts, entry or re-entry at the 38 to 50% pullback levels seem to generate good returns in the direction of the pair's trend, particularly a highly volatile pair like the EUR/JPY. Watch this pair as it seems to consistently go bullish after the stock market close(whether the S&P is up or down), and any dips to the retracement levels generally present excellent buying opportunities and may be bouyed by breakouts. If you enter with a 50 pip stop, then enter a trailing stop of 25 to 35 points, it's reasonably safe. Check it out.

Hello Coonhoud,

Please post on the other thread i've started:
http://www.forexfactory.com/showthread.php?t=142255

That will be great.

I would find this original idea indicator very valuable if done!
It's based on price action.

Today, there was a 100% retracement to the 126 level in EUR/JPY which then bounced up to @126.70, and is now backing off again to the 126.50 area. Point being that my "bullish after the close" observation on EUR/JPY may be more helpful than any Fib retracement re-entry point observation.

I had concerns about getting the right numbers of the reversal at each specific level by running the martingale ea through the strategy tester since the history misses periods but this can be handled by downloading the full history.