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Fibo Calc indicator

  • #41
  • Apr 12, 2007 4:01am Apr 12, 2007 4:01am
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.?
Yes I also use these two indicators as well attached below
Attached File(s)
File Type: mq4 GMACD_Signals.mq4   19 KB | 1,832 downloads
File Type: mq4 TrendEnvelopes_v1.mq4   4 KB | 1,852 downloads
  • #42
  • Apr 12, 2007 4:41am Apr 12, 2007 4:41am
Quoting Rialto
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.
Hi Rialto,

Okay, once the price moves above or under the golden rod fibo line thats when it changes to either buy or sell, so be aware that the price is around the golden rod as it will change to either.

Cheers
  • #43
  • Apr 12, 2007 4:54am Apr 12, 2007 4:54am
Okay. Now I understand. Thanks Lavon.
  • #44
  • Apr 23, 2007 2:04pm Apr 23, 2007 2:04pm
Quoting Lavon
Hi Rialto,

Okay, once the price moves above or under the golden rod fibo line thats when it changes to either buy or sell, so be aware that the price is around the golden rod as it will change to either.

Exactly my point. This indicator repaints. So for example, if the market is choppy, and you adhered strictly to the fibocalc rules, it will kill you. Also, it DOES show a TP of a couple of pips at market opening Lavon, so stop saying whatever, I'll get you proof, and paste it here for all to see. Then as the day moves, it gradually "expands" itself to give a higher TP and higher SL. Weird.
  • #45
  • Apr 27, 2007 3:40am Apr 27, 2007 3:40am
Hi, has anyone tested this over a longer time period, i.e. weekly?

Thanks

Max
  • #46
  • Dec 17, 2007 4:10pm Dec 17, 2007 4:10pm
Anyone still using this indicator?
Pip Goes The Weasel
  • #47
  • Dec 17, 2007 5:51pm Dec 17, 2007 5:51pm
I loaded into mt4 a little while ago. Looked good for yesterday. At 00:00gmt (gmt+1 on my metatrader server) it reset the buy/sell indication and the stop loss was just 1-4 pips depending on the currency pair. I plan on watching it through the trading day to see how it adjusts and what changes it makes. So far not too impressed based on what I am seeing at the start of the day. The take profits also reset and are very narrow right now.
  • #48
  • Dec 17, 2007 6:02pm Dec 17, 2007 6:02pm
looking at the code, it has a number of bugs in it. The method in which it calculates previous highs and lows is incorrect. The way it is set up, it will look good at the end of the day. The code repaints whenever you switch from one timeframe to another. Could be an interesting indicator if someone wants to spend the time to debug it.
  • #49
  • Dec 19, 2007 11:43pm Dec 19, 2007 11:43pm
Could be a nice indicator if code was redone.

I also wish there was an option on screen details .... as when I tile the charts the white left top really clutters the chart so it is hard to see anything else. I noticed if you ... go to another timeframe and then back ..... this resets signals immediatly for the TF you park. Thanks!

ut2DaMax
  • #50
  • Dec 19, 2007 11:56pm Dec 19, 2007 11:56pm
I modified some of the code to get it to calculate previous days high and low correctly and to correctly figure the previous days trend (up or down). This also solves the repainting issues. The way it does some of the calculations (like for gbp/jpy today), the sell level is already above the current price at midnight gmt. 226.82 is the sell level with the stop at 227.49. I am going to watch it today to see if it hits the price targets. First target is calculated at 225.07.
  • #51
  • Dec 20, 2007 8:13am Dec 20, 2007 8:13am
Magnumfreak,

Good work, it's already hit your first TP target.
  • #52
  • Dec 20, 2007 8:28am Dec 20, 2007 8:28am
Quoting magnumfreak
I modified some of the code to get it to calculate previous days high and low correctly and to correctly figure the previous days trend (up or down). This also solves the repainting issues. The way it does some of the calculations (like for gbp/jpy today), the sell level is already above the current price at midnight gmt. 226.82 is the sell level with the stop at 227.49. I am going to watch it today to see if it hits the price targets. First target is calculated at 225.07.
Good stuff Magnum.

Please can you post the modified version?

Thanks.
  • #53
  • Dec 20, 2007 11:18am Dec 20, 2007 11:18am
Hello Magnumfreak,can you posting the modifield Version.

Best regards
  • #54
  • Dec 20, 2007 11:28am Dec 20, 2007 11:28am
Here you go. So far worked good on gbpjpy for today but the others (17 total) it hasn't done so well. Use at your own risk.
Attached File(s)
File Type: mq4 fibocalc_V31.mq4   13 KB | 2,330 downloads
File Type: ex4 fibocalc_V31.ex4   12 KB | 1,585 downloads
  • #55
  • Dec 20, 2007 11:41am Dec 20, 2007 11:41am
To all,

I think it would be a good idea to add:

Comment("");

within:

int deinit()
{
}

Regards,
lucidlamp
  • #56
  • Dec 20, 2007 11:51am Dec 20, 2007 11:51am
Hello Magnumfreak,thanks from your posting,to the nice indicator.Sorry my English is not so good. All the Pips for you.
Best regards ,and i wish you a Happy Christmas.
Best regards from coooold Germany
  • #57
  • Edited 11:39am Dec 21, 2007 10:29am | Edited 11:39am
magnumfreak.... that is so nice of you to redo fibocalc ! I think there is life left in this recoded fibocalc indicator ......... Thanks a BUNCH!




P.S. I put it on my charts and now it works like a charm so far! IMO


Quoting magnumfreak
Here you go. So far worked good on gbpjpy for today but the others (17 total) it hasn't done so well. Use at your own risk.
  • #58
  • Dec 21, 2007 1:28pm Dec 21, 2007 1:28pm
What I have noticed is this: If you save the fibocalc on a template, you will have to refresh not by using the refresh button, but rather go to a different TF and back .... and it resets itself.


I was wondering if this is a flaw in the code .... or if it can be made to reset itself every so many minutes? Otherwise I have learned to use the indicator by doing as described above.


Does anyone know if this can be changed in the code?



lucidlamp said in above #55 post .... not sure if this would help???
/////////////
To all,

I think it would be a good idea to add:

Comment("");

within:

int deinit()
{
}

Regards,
lucidlamp
/////////////
  • #59
  • May 14, 2008 6:38am May 14, 2008 6:38am
hey..is there anyone out there still using this indicator?

an update will be appreciated..
  • #60
  • May 14, 2008 8:09am May 14, 2008 8:09am
It's not particularly any good.
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