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Fib. Reverse Engineered.

  • #101
  • Apr 7, 2009 8:44pm Apr 7, 2009 8:44pm
Quoting doblece
.. if 46,55 and 53,44 are taken as 0 and 100, the projections (or extensions) would simply be the equivalent proportionally to those levels..
I tried that but the 423 extension still was not enough to reach the 25% calculated Leonardo fib. Perhaps larger extensions?
  • #102
  • Edited 8:59pm Apr 7, 2009 8:48pm | Edited 8:59pm
Quoting Bemac
Woahhh there big Fella...

Once the Values are set there will be No Repainting.
Once I make a descion to Trade I will Not ReTrade.
That's all
Ok, I think I'm getting close.

It would be great if the indi shows the fib values on the lines for better understanding and an option to lock them once you took the trade.

What I still don't get is why there are sooooo many lines and what they mean, the fib thingy is clear now.

What we need is a fibtool that starts plotting on 47% (0.00) and end is 53% (100) and extentions will be calculated automaticly, am I right?
  • #103
  • Apr 7, 2009 8:48pm Apr 7, 2009 8:48pm
OK, ok,
relax folks
this little ditty is Entirely based on...

If 52% = ???
AND
47% = ???

Then 62% =???

That's it. Simple really. Just like me.
  • #104
  • Apr 7, 2009 8:51pm Apr 7, 2009 8:51pm
Quoting Bemac
Simple really....
Yes, it is simple math to figure it out. The indicator just does it for you.
  • #105
  • Apr 7, 2009 9:06pm Apr 7, 2009 9:06pm
Quoting Bemac
OK, ok,
relax folks
this little ditty is Entirely based on...

If 52% = ???
AND
47% = ???

Then 62% =???

That's it. Simple really. Just like me.
Yes but I'm having a problem with the "if 47 = 0" part... unless the ??? is just plotted as price.
  • #106
  • Edited 9:39pm Apr 7, 2009 9:07pm | Edited 9:39pm
Quoting Bemac
OK, ok,
relax folks
this little ditty is Entirely based on...

If 52% = ???
AND
47% = ???

Then 62% =???

That's it. Simple really. Just like me.
Yep, I got that part

Looks like it works
Attached Image (click to enlarge)
Click to Enlarge Name: leo3.gif Size: 21 KB
  • #107
  • Apr 7, 2009 9:35pm Apr 7, 2009 9:35pm
If 47= 1.4751

and 52= 1.4720,

then 62=1.4671.

Attached Image (click to enlarge)
Click to Enlarge Name: bemacsfibgbpusd2.jpg Size: 97 KB
Is your SL my TP?
  • #108
  • Apr 7, 2009 9:47pm Apr 7, 2009 9:47pm
Quoting doblece
Yes but I'm having a problem with the "if 47 = 0" part... unless the ??? is just plotted as price.
Let's look at it this way.
No particular Pair & no particular price but IF;

47% = 100.00
&
52% = 105.00
THEN
62% = The Price Value of 52% + an Additional 10%.
(the difference between 62% & 52%)

How do I know what value to attribute to 10%?
Simple:
105.00 - 100.00 = 5.00 which is Also = to 5%. {52% - 47%}
If 5% = 5.00 Pips,
Then 1% = 1 Pip.
If 52% = 105.00
Then 62% = 105.00 + 10. or 115.00

I really can understand why this is confusing to most but it does make sense when you get there.
  • #109
  • Apr 7, 2009 9:52pm Apr 7, 2009 9:52pm
Both you guys {Cobra & Ken} seem to be getting a handle on ICCE.

What do you think? Is it worth persuing the Indicator?


Hey Ken, care to define the 33.79% Line?
  • #110
  • Apr 7, 2009 9:53pm Apr 7, 2009 9:53pm
Quoting Bemac
Let's look at it this way.
No particular Pair & no particular price but IF;

47% = 100.00
&
52% = 105.00
THEN
62% = The Price Value of 52% + an Additional 10%.
(the difference between 62% & 52%)

How do I know what value to attribute to 10%?
Simple:
105.00 - 100.00 = 5.00 which is Also = to 5%. {52% - 47%}
If 5% = 5.00 Pips,
Then 1% = 1 Pip.
If 52% = 105.00
Then 62% = 105.00 + 10. or 115.00

I really can understand why this is confusing to most but it does make sense when you get there.
Yes I understand the principle behind, the thing is I am trying to get the exact percentage to add/substract to the fib tool so when you plot actual 0 and 100 levels would in fact be 46,56 and 53,44 and give all the rest of levels involved... getting there slowly, anyway
  • #111
  • Apr 7, 2009 9:54pm Apr 7, 2009 9:54pm
Quoting cobraforex
Yep, I got that part

Looks like it works
Yup, that's what I got too.

Any forecasts?.........
  • #112
  • Apr 7, 2009 10:01pm Apr 7, 2009 10:01pm
Quoting Bemac
Both you guys {Cobra & Ken} seem to be getting a handle on ICCE.

What do you think? Is it worth persuing the Indicator?
yep, what we need is a similar, but external fibtool as the original MT4 has included.

It should start to draw (the usual red fib line) on 47.2% and end on 52.8% and we are done, rest is calculated by the indi.
  • #113
  • Apr 7, 2009 10:01pm Apr 7, 2009 10:01pm
Quoting Bemac
Hey Ken, care to define the 33.79% Line?

A friend of mine told me he got that line from a guy who trades stocks. I never researched it, just threw it on my fib tool and whaddaya know? Price bounces there quite often.

Look at the candlestick chart from this post.
Is your SL my TP?
  • #114
  • Apr 7, 2009 10:09pm Apr 7, 2009 10:09pm
Quoting cobraforex
Well, I understand that the 47 - 53 fib may be a consideration zone but you can beat me and I can't get how you trigger the fibs, where is 0.00 and 100% on your chart?
Don't have enough historical Price data on this platform to be specific. Best I can do is show an image.
Attached Image (click to enlarge)
Click to Enlarge Name: fib rev engineered 12 silver 0 to 100.gif Size: 27 KB
  • #115
  • Apr 7, 2009 10:16pm Apr 7, 2009 10:16pm
Quoting cobraforex
yep, what we need is a similar, but external fibtool as the original MT4 has included.

It should start to draw (the usual red fib line) on 47.2% and end on 52.8% and we are done, rest is calculated by the indi.
Exactly!


BTW, not only did my chart match yours to the pip, but my values were calculated with a different core range (47-53).
Attached Image (click to enlarge)
Click to Enlarge Name: leonardo 4-7-09.gif Size: 13 KB
  • #116
  • Apr 7, 2009 11:11pm Apr 7, 2009 11:11pm
Quoting TradeWell
Exactly!


BTW, not only did my chart match yours to the pip, but my values were calculated with a different core range (47-53).
The decimal places have little effect on Charting.
That's why I wasn't too concerned about whether it was calculated @ 47.21 or 47.22.
The Actuals are 47.2136 & 52.7864
  • #117
  • Apr 7, 2009 11:26pm Apr 7, 2009 11:26pm
Quoting TradeWell
Any forecasts?.........
I'm not using the indicator yet. I need to study it more. But I manually fibbed out a channel on the eurusd and I have a buy order in @ 1.3205- targeting 1.3230 (or the 38.2 Fib) for my TP.

It should be known I plotted the channel with a line chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 104 KB
Is your SL my TP?
  • #118
  • Apr 7, 2009 11:50pm Apr 7, 2009 11:50pm
Quoting Bemac
The decimal places have little effect on Charting.
That's why I wasn't too concerned about whether it was calculated @ 47.21 or 47.22.
The Actuals are 47.2136 & 52.7864
The "core range" values I spoke of are price ranges. Cobra interpreted a different high and low price for the (roughly) 47-53 range, yet we ended up with the same fib extension values.
  • #119
  • Apr 7, 2009 11:55pm Apr 7, 2009 11:55pm
Quoting kenmania
I'm not using the indicator yet. I need to study it more. But I manually fibbed out a channel on the eurusd and I have a buy order in @ 1.3205- targeting 1.3230 (or the 38.2 Fib) for my TP.

It should be known I plotted the channel with a line chart.
Well that went real swell.
Is your SL my TP?
  • #120
  • Apr 8, 2009 12:04am Apr 8, 2009 12:04am
Quoting kenmania
Well that went real swell.
Yep, I'm waiting for a 4H reversal candle before stepping in a long trade, may be in the early London session (it's the only that I trade seriously).

Anyhow this is a great tool for estimate TP's
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