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Fibo Calc indicator

  • #1
  • First Post: Mar 22, 2007 7:13pm Mar 22, 2007 7:13pm
Hi All,

I have been testing this indicator lately on MT4 and I am very impressed with the profits I have been gaining from this indicator. I usually set my SL at 15-20 pips with Profit Target 2.... signals already scripted with fib levels....and it also tells you not to trade as well....wow

Thought I would like to share my enthusiam.. Im a newbie in this forum trading for 3 years now .... here is the indicator attached...

Cheers...

Sal
Attached File(s)
File Type: mq4 fibocalc_V31.mq4   12 KB | 7,982 downloads
  • #2
  • Mar 22, 2007 7:17pm Mar 22, 2007 7:17pm
What time frame do you use it on?
Thanks
  • #3
  • Mar 22, 2007 7:39pm Mar 22, 2007 7:39pm
Looks good so far. It appears to run on any time frame but the shorter ones appear to be running best.

M5 is where my test is beginning.

Looks like a good indicator overall.

yezbick
  • #4
  • Mar 22, 2007 8:03pm Mar 22, 2007 8:03pm
Quoting Lavon
Hi All,

I have been testing this indicator lately on MT4 and I am very impressed with the profits I have been gaining from this indicator. I usually set my SL at 15-20 pips with Profit Target 2.... signals already scripted with fib levels....and it also tells you not to trade as well....wow

Thought I would like to share my enthusiam.. Im a newbie in this forum trading for 3 years now .... here is the indicator attached...

Cheers...

Sal
There seems to a problem with it for me...i have it attached to a euro chart (1 hr)and it is telling me that the previuos day high was 1.3332 and the previuos day low was 1.3322 which are the high and low of the 00 GMT bar

Can this issue be fixed?
  • #5
  • Mar 23, 2007 3:46am Mar 23, 2007 3:46am
How is this ind. used?
  • #6
  • Mar 23, 2007 7:45am Mar 23, 2007 7:45am
I use this indicator usually on the 15m time frame but if the t/p targets are very less than usual (10 pips apart from each other TP targets), then I use the 5m time frame.

Remember also use the 1hr time frame to know where the trend is going.

If you want to know more about the fibonacci indicator as well as other money management tips and so forth...I like the info on this website http://www.forexfibonacci.com/, its simple to understand and very straight forward (Im not a hugh fan of reading manuals) only basic info, simplicity is the key!

Sal
  • #7
  • Mar 23, 2007 8:25am Mar 23, 2007 8:25am
Thanks Lavon. This indicator is very interesting.
  • #8
  • Mar 23, 2007 9:21am Mar 23, 2007 9:21am
I've been testing looks like it is performing well.

Thanks for indicator.

I'll keep testing and report the results.

yezbick
Attached Image
  • #9
  • Mar 23, 2007 1:28pm Mar 23, 2007 1:28pm
I'm interested in trying this indicator, but I find the following data showing up in the Experts tab of the Terminal section:
----------------------------------------------------------------
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 228 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 228 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:28 fibocalc_V31 GBPJPY,M15: invalid point number 228 for ObjectMove function
2007.03.23 14:26:28 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:28 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:28 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:28 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:26 fibocalc_V31 GBPJPY,M15: invalid point number 228 for ObjectMove function
2007.03.23 14:26:26 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:26 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
----------------------------------------------------------------------

It just keeps reiterating this data without end.... Is this a problemo?
  • #10
  • Mar 23, 2007 1:33pm Mar 23, 2007 1:33pm
Quoting Lavon
Hi All,

I have been testing this indicator lately on MT4 and I am very impressed with the profits I have been gaining from this indicator. I usually set my SL at 15-20 pips with Profit Target 2.... signals already scripted with fib levels....and it also tells you not to trade as well....wow

Thought I would like to share my enthusiam.. Im a newbie in this forum trading for 3 years now .... here is the indicator attached...

Cheers...

Sal
Thanks for sharing the indicator Sal. Could you tell us what sort of pips you're gaining with it? Did you design it yourself?

Thanks again!
  • #11
  • Mar 23, 2007 1:56pm Mar 23, 2007 1:56pm
Quoting RickW00716
There seems to a problem with it for me...i have it attached to a euro chart (1 hr)and it is telling me that the previuos day high was 1.3332 and the previuos day low was 1.3322 which are the high and low of the 00 GMT bar

Can this issue be fixed?
I'm actually seeing that it's using the CURRENT DAY HI/LO, but calling it PREVIOUS DAY HI/LO... Is this just a case of the labelling being wrong? Or is is perhaps pulling the wrong data for it's calculations?
  • #12
  • Mar 23, 2007 1:57pm Mar 23, 2007 1:57pm
Hey Sal

Interesting Indicator. Thanks for sharing.

Do you enter at the buy/sell level mechanically or are you using other indicators such as trendline breaks, candlestick reversals etc.?
  • #13
  • Mar 23, 2007 2:27pm Mar 23, 2007 2:27pm
thanks for this indicator, but I noticed it only tells you to sell. Are there buy levels on this indicator also?
  • #14
  • Mar 23, 2007 2:43pm Mar 23, 2007 2:43pm
Hi Lavon.

Is there any way we can back test this manually?

It looks like it is buying/selling on pull backs to the 38% fib level but im not sure.

could you tell me how many trades you have watched this over and the results.

with the risk reward for target 2 being around 1-4 you can make good pips even if you only get 40% wins!

Please let me know where i can find out more about this indicator

many thanks

S
  • #15
  • Mar 23, 2007 5:26pm Mar 23, 2007 5:26pm
please check my post at

http://www.forex-tsd.com/indicators-...ght=fibocal_31
  • #16
  • Mar 23, 2007 5:46pm Mar 23, 2007 5:46pm
todays trades on eur/usd and usd/chf were stopped correct?
  • #17
  • Mar 26, 2007 5:58am Mar 26, 2007 5:58am
Quoting chazbo 3071
Hey Sal

Interesting Indicator. Thanks for sharing.

Do you enter at the buy/sell level mechanically or are you using other indicators such as trendline breaks, candlestick reversals etc.?

I use the 21 simple moving average and 50 simple moving average to also help me indicate reversal on the 1hr chart, as well as entering the buy/sell level mechanically.
  • #18
  • Mar 26, 2007 6:12am Mar 26, 2007 6:12am
Quoting Pipskateer
I'm interested in trying this indicator, but I find the following data showing up in the Experts tab of the Terminal section:
----------------------------------------------------------------
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 228 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 228 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:29 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:28 fibocalc_V31 GBPJPY,M15: invalid point number 228 for ObjectMove function
2007.03.23 14:26:28 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:28 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:28 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:28 fibocalc_V31 GBPJPY,M15: invalid point number 231 for ObjectMove function
2007.03.23 14:26:26 fibocalc_V31 GBPJPY,M15: invalid point number 228 for ObjectMove function
2007.03.23 14:26:26 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
2007.03.23 14:26:26 fibocalc_V31 GBPJPY,M15: invalid point number 229 for ObjectMove function
----------------------------------------------------------------------

It just keeps reiterating this data without end.... Is this a problemo?
For more information on this indicator, go to the MetaEditor on MT4 and click on online library then click on indicators, you will find the indicator there and the author of the inidcator is Collector.
  • #19
  • Mar 26, 2007 7:10am Mar 26, 2007 7:10am
Lavon, thanks you for sharing your easy fibo indicator, it seems it work in all differnt pair, testing on demo account right now post the result soon.
  • #20
  • Mar 26, 2007 12:00pm Mar 26, 2007 12:00pm
Just seen this indicator.

Interesting, but a bit weird. For example, you guys says it works on all timeframes. Well I tested this, but like - whichever timeframe I use it on, it ALWAYS gives me the SAME settings. I.e. the same buy/sell level, the same TP and the same SL, no matter what timeframe it's used on.

Anyone else seeing the same thing? And anyone know why it does this? Fib levels are supposed to be different for different timeframes obviously, but this is the same LOL!
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