ZigZag-based Fibo | Forex Factory

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ZigZag-based Fibo

  • #1
  • First Post: Dec 1, 2009 6:40am Dec 1, 2009 6:40am
Hello,

I don't have a drop of programming in my blood, so I'm asking for your help.

Can somebody program a Fibonacci Retracement that automatically follows the ZigZag indicator included with MT4 (in the custom indicators)?

To illustrate, please look at the attached screenshots. I like to trade retracements from the ZigZag's tops or bottoms (top is shown here). When I place a Fibo on the ZigZag, as in the first screen, I wait for a retracement to at least the 23.6 area.

My problem is, as shown in the second screen, that if price shoots past the top (bottom), the Fibo stays with the old value.

I would like it to automatically adjust to the new top (bottom) of the ZigZag, which I manually created in the third screen.

Ideally, to go one step further, if the ZigZag reverses I would like for the old Fibo to be deleted and a new one created in the new direction (no screenshot for this).

Is anybody interested and able in helping with this?

Much appreciated!

jesper
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fibo1.jpg Size: 131 KB
Click to Enlarge Name: fibo2.jpg Size: 130 KB
Click to Enlarge Name: fibo3.jpg Size: 130 KB
  • #2
  • Dec 1, 2009 12:16pm Dec 1, 2009 12:16pm
Quoting jesperweber
I don't have a drop of programming in my blood.
I do. A lot.
Quote
Can somebody program a Fibonacci Retracement that automatically follows the ZigZag indicator included with MT4 (in the custom indicators)?
Sure.
Quote
To illustrate, please look at the attached screenshots. I like to trade retracements from the ZigZag's tops or bottoms (top is shown here). When I place a Fibo on the ZigZag, as in the first screen, I wait for a retracement to at least the 23.6 area.

My problem is, as shown in the second screen, that if price shoots past the top (bottom), the Fibo stays with the old value.

I would like it to automatically adjust to the new top (bottom) of the ZigZag, which I manually created in the third screen.
That's what they invented computers and created programming languages for!
Did this many times myself.
Please PM me.
Quote

Ideally, to go one step further, if the ZigZag reverses I would like for the old Fibo to be deleted and a new one created in the new direction (no screenshot for this).
No problem as well as soon as you define what 'ZigZag reverses' mean exactly.
  • #3
  • Last Post: Dec 1, 2009 7:53pm Dec 1, 2009 7:53pm
Quoting Irtron
I do. A lot.Sure.That's what they invented computers and created programming languages for!
Did this many times myself.
Please PM me.No problem as well as soon as you define what 'ZigZag reverses' mean exactly.
Hello, and many thanks for the quick reply!

By "ZigZag reverse" I simply mean that an upslope comes to an end and a downslope begins, and vice versa. I normally use the standard ZigZag (12,5,3) settings.

I marked five of those turning points on the attached screenshots. What I'm looking for is that instead of staying with the old ZigZag line as on the first screen, it would be nice for the Fibo to transfer over to the new ZigZag line as on the second screen.

PM'ed you with my regular mail address.

Thanks again!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fibo4.jpg Size: 123 KB
Click to Enlarge Name: fibo5.jpg Size: 116 KB
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