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Fibo Calc indicator

  • #21
  • Mar 26, 2007 12:31pm Mar 26, 2007 12:31pm
Quoting turbo_electric
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!
Fib levels should be the same since it's intraday.

There's nothing wrong with it.

Congrats for the indicator very good. If i had follow him today i would make my profits at least double.

Seeya
No Brain, no Gain.
  • #22
  • Mar 26, 2007 2:53pm Mar 26, 2007 2:53pm
Thanks.

Ok then, I've just loaded this indicator on to my Eur/Usd chart.

So now, looking at todays Fib Calc for the EUR/USD, we have a Buy @ 1.3310. With SL @ 1.3290 and TP @ 1.3370....

As you can see, the price hardly touched 1.3345, before falling to around the 1.3330 area, where it has been ranging for the past couple of hours.

I don't even know why it's got 3 target levels since it's clear that on all of the 4 majors the price hasn't even reached the 1st profit target level.

Kinda confused how do we determine when to get out then? I mean, is it possible to strictly adhere to this indicator and open 3 lots with 3 different TP levels, and in the long term it will be profitable? I don't know how fibs work, so any help would be appreciated. Thanks.
  • #23
  • Mar 26, 2007 11:36pm Mar 26, 2007 11:36pm
Want to know more about fibonacci, I go here >>

http://www.forexfibonacci.com/

For money management tips I like this site >>

http://www.forex-money-management.com/

Cheers

Sal
  • #24
  • Mar 26, 2007 11:39pm Mar 26, 2007 11:39pm
Quoting atobev
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.
Thanks Pipskateer, I would like to help in any way, Im not an expert with fibs but its common sense. I found this indicator in the online library of the MetaEditor when I was browsing.

If I come across anything else surprising, I'll lets everyone know.

Cheers

Sal
  • #25
  • Mar 27, 2007 12:10pm Mar 27, 2007 12:10pm
Thank you for sharing this indicator Sal.

Here are my observations:

1. It gives Buy and Sell Signal on each Pair.
2. Tested it on 7 Pairs this morning and trading the 3 target profits. Generally failed on the GBPUSD and The EURUSD. All the rest were basically winners ( AUDUSD, EURJPY, GBPJPY, USDCAD, USDJPY). Word of caution, It normally hits the TP1 and TP2. Sometimes there is a PULLBACK after TP1 then proceeds to TP2. On some occassions , it fails to reach TP3. You will need to use a filter to help you trade this. But it is generally a winner.

3. It does have the Same TP on all TF. I find this convinient and actually helpful. I have noticed that the TPs given are mostly profitable up to the TP2.

4. There were some TPs that only gave 1 pip at TP1. I am not complaining. If you have the patience and a filter, you could continue and ride the trend to achieve TP2.

Yano
  • #26
  • Mar 27, 2007 12:33pm Mar 27, 2007 12:33pm
I was just searching for how to apply fibo in MT4, thanks for sharing this.
  • #27
  • Mar 30, 2007 3:30am Mar 30, 2007 3:30am
Hi,

Seems A good indicator but i notice that when metatrader starts a new day it gives a signal in the opposite direction with TPs very close like 2 pips, also it works from that new days HI & LO.When i log back on about 6.00 GMT i have to remove indicator and reinstall to get a new sell or buy signal with wider TPs.Is this normal for this indicator?
  • #28
  • Mar 30, 2007 8:09am Mar 30, 2007 8:09am
Can someone help.
This morning it was saying sell and it stayed that way until i removed it just now and reinstalled and the stoploss on the sell trade has become a BUY signal so the indicator dose not update itself.bit pointless realy
  • #29
  • Apr 2, 2007 4:26pm Apr 2, 2007 4:26pm
yep, this indicator repaints itself, therefore it is crap.
  • #30
  • Apr 6, 2007 11:06am Apr 6, 2007 11:06am
This indicator works best at market openings. Or at least that is when I have the most success with it. It is pretty straight forward tells you what to do what to aim for. I am conservative so I only look for 10-20 pips with a trailing stop of lowest that the broker will allow for each of my entries using it. I give this indicator a big thumbs up.
  • #31
  • Apr 7, 2007 7:29am Apr 7, 2007 7:29am
You being serious?

At market opening, i.e. GMT 00:00, the indicator shows a TP level of just 2 pips!
  • #32
  • Apr 8, 2007 8:19am Apr 8, 2007 8:19am
Yeah watever!
  • #33
  • Apr 10, 2007 11:02am Apr 10, 2007 11:02am
Lavon,

Thanks for the contribution. Having checked this indicator for the last few days, I see many positive trades. Do you know how many times a trading day that it re-adjusts to show a new trade? That is assuming that you know. If not, no problem. Thanks again.
  • #34
  • Apr 10, 2007 11:16am Apr 10, 2007 11:16am
Lavon,

I also wanted to ask you if you enter your trade off of the 15M chart only once a day? Thanks again.
  • #35
  • Apr 10, 2007 12:33pm Apr 10, 2007 12:33pm
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

Hi Lavon,

I am a newbie to forex .Could u pls tell me how to apply this indicator into my MT4 chart.

Thanks......
  • #36
  • Apr 10, 2007 3:38pm Apr 10, 2007 3:38pm
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

I have been trying to apply this indicator on my MT4 chart for last few hours. Can anybody help me??????????????????????????

Thanks
  • #37
  • Apr 10, 2007 6:02pm Apr 10, 2007 6:02pm
Thusitha,

I'm sure there is an easier way, but here's how I do it. I download the indicator and save it to my documents.

I then open my template area (icon at top of MT4chart) and where it says LOAD Template, I click on this and you'll see all your templates. Click on down arrow in the templates window and click on your InterBank FX Trader listing and you'll see "experts." Double click on "experts" and you'll then see "indicators" Open this indicator folder. Go to your Documents and where you've saved the indicator, copy it to the indicator window in your InterBank FX. You have to then close your MT4 Trader and then reopen. You'll then see the Fib Calc indicator in the list of Custom Indicators. Open your chart - double click on Fib Calc in list and it will show-up on your chart.

Hope you can follow this. Perhaps someone can show you a shortcut.

Good luck.
  • #38
  • Apr 10, 2007 6:07pm Apr 10, 2007 6:07pm
thanks for this.
Taking Life One Pip At A Time I officially have my own opinion.
  • #39
  • Apr 11, 2007 8:29am Apr 11, 2007 8:29am
Quoting Rialto
Thusitha,

I'm sure there is an easier way, but here's how I do it. I download the indicator and save it to my documents.

I then open my template area (icon at top of MT4chart) and where it says LOAD Template, I click on this and you'll see all your templates. Click on down arrow in the templates window and click on your InterBank FX Trader listing and you'll see "experts." Double click on "experts" and you'll then see "indicators" Open this indicator folder. Go to your Documents and where you've saved the indicator, copy it to the indicator window in your InterBank FX. You have to then close your MT4 Trader and then reopen. You'll then see the Fib Calc indicator in the list of Custom Indicators. Open your chart - double click on Fib Calc in list and it will show-up on your chart.

Hope you can follow this. Perhaps someone can show you a shortcut.

Good luck.




Thanks for your help.... Greatly appriciated...
  • #40
  • Apr 11, 2007 11:13am Apr 11, 2007 11:13am
Prego, Thusitha. I hope everything worked-out.

Ciao
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