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One candle fibonacci

  • #1
  • First Post: Jun 9, 2010 3:34am Jun 9, 2010 3:34am
Hello Traders,

I would like to ask is any one familiar or even tried to fibo one candle?

The only used and explained all around about the trend Fibonacci but I really would like to hear some experts says about the one candle fibo.

Thanx...
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  • #2
  • Jun 9, 2010 6:55am Jun 9, 2010 6:55am
What's a "one candle fibo"?
  • #3
  • Jun 9, 2010 7:39am Jun 9, 2010 7:39am
Seems to me that if you put a fibo on just one candle you are measuring the move embedded inside that candle...ie the time frame(s) or tick chart that formed that candle.

Why not just look at that lower time fram and see how the price moved?
  • #4
  • Jun 9, 2010 1:33pm Jun 9, 2010 1:33pm
Quoting maanawi
Hello Traders,

I would like to ask is any one familiar or even tried to fibo one candle?

The only used and explained all around about the trend Fibonacci but I really would like to hear some experts says about the one candle fibo.

Thanx...

Hello!
I bring an apology for technical translation.
I suppose that I not the rights, but..... Use of 1 candle and fibo - self-deception (it is not enough the data) - IMHO
1. My use of lines fibo (schedule).
2. I use two candles. I choose them on reference points (PP).
3. An overall objective (aim fibo1-1) - 161,8 %
4. Purchases on lines (L1, L2)
5. On recoil (from-100 % to 0 %) - risk, it is better to buy sales still.
6. For calculation I use 24 hour candles. In further (for an input) 1 sentries, and тиковый the schedule.... Or the postponed warrant.
Good luck!
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  • #5
  • Jun 9, 2010 4:35pm Jun 9, 2010 4:35pm
hey maanawi..... i'm not an expert in fibonacia but did write some ea's which evaluated extensions/retracements of single candles....

your looking way out with large multiple extensions..... my work was more looking at a particular value, roughly 23.6..... or maybe more like searching for the optimum value.....

it involved both the 23.6 retracement of the signal candle and a 23.6 extension of it.....

my thoughts were along the line of should we exit at the close and place pending orders 23.6 above to reenter.....

as you can see in the picture, had the trades, or at least the lower 2, been closed at the end of the candle, both could have been reeentered at the 23.6 fib line.......

there were many more thoughts along that line also involving entrys...... all only dealing with "roughly" 23.6...... by no means a magic number, just the area that seemed somewhat higher probability.....h
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to trade and code, keep both simple... no call to impress....h
  • #6
  • Jun 9, 2010 5:44pm Jun 9, 2010 5:44pm
Quoting pipmutt
What's a "one candle fibo"?
One candle fibonacci is to measure fibonaccie from high to low of one candle.
  • #7
  • Jun 9, 2010 6:04pm Jun 9, 2010 6:04pm
Quoting gspajon
Seems to me that if you put a fibo on just one candle you are measuring the move embedded inside that candle...ie the time frame(s) or tick chart that formed that candle.

Why not just look at that lower time fram and see how the price moved?
no, it mean to see the retrace on the next candles not inside the current candle, there is idea around what you said which is :

measuring for example weekly or daily or H4 one candle and shift to lower time frame like 1H for example then you see a good chances to enter trades. picture attached
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  • #8
  • Jun 9, 2010 6:10pm Jun 9, 2010 6:10pm
Quoting okorok
Hello!
I bring an apology for technical translation.
I suppose that I not the rights, but..... Use of 1 candle and fibo - self-deception (it is not enough the data) - IMHO
1. My use of lines fibo (schedule).
2. I use two candles. I choose them on reference points (PP).
3. An overall objective (aim fibo1-1) - 161,8 %
4. Purchases on lines (L1, L2)
5. On recoil (from-100 % to...
thanks a lot okorok for your reply, but please can you do another post with more details, I cant get you well at this post, if you dont mind please attach more pictures with examples

Спасибо
  • #9
  • Jun 9, 2010 6:47pm Jun 9, 2010 6:47pm
Quoting hayseed
hey maanawi..... i'm not an expert in fibonacia but did write some ea's which evaluated extensions/retracements of single candles....

your looking way out with large multiple extensions..... my work was more looking at a particular value, roughly 23.6..... or maybe more like searching for the optimum value.....

it involved both the 23.6 retracement of the signal candle and a 23.6 extension of it.....

my thoughts were along the line of should we exit at the close and place pending orders 23.6 above to reenter.....

as you can see in the...
awesome!
you said:
your looking way out with large multiple extensions
searching for the optimum value
(both are good idea)
well what I want to foucse about is what out of the candle not what inside as what inside is tight and what out of it is biger ( i talk about the pips within the candle and out of it).

so lets talk about the picture you attached.
the candle you fiboning, place fibo from high to low not from the open to close and make like fibo mirror as above so below, as two ways is important.
we look then to the to in retrace from the out of the candleat least to the 50% of the candle.

add these levels and get another look to the candles on the chart and let me know your opinion please..
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  • #10
  • Jun 9, 2010 8:51pm Jun 9, 2010 8:51pm
hey mannawi.... yes those are my thoughts also.... your y1 and y2 are what i'm refering to as extension of the candle....

the y1 and y2 can be potiental profit targets.... very good targets.....

also , the current candle's inner body will be retraced at times, this is a serious drain on the trades..... that effect is painfully obvious in the trades on the chart..... you can see a couple went negative and half the profit evaporated on the others...... several factors affect which candle is subject to retracement....


this was the reason for my concern with inner retracement of the single candle.... i try to close the trades, or some of them, to protect the profit and reenter the trades somewhere during the retracement at a better price..... h
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to trade and code, keep both simple... no call to impress....h
  • #11
  • Jun 9, 2010 9:33pm Jun 9, 2010 9:33pm
Quoting maanawi
thanks a lot okorok for your reply, but please can you do another post with more details, I cant get you well at this post, if you dont mind please attach more pictures with examples

Спасибо
Without explanatories (it is not enough time)
Three operating schedules (I think a principle it is clear).
Good luck!
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  • #12
  • Edited 10:08pm Jun 9, 2010 9:41pm | Edited 10:08pm
Quoting hayseed
hey mannawi.... yes those are my thoughts also.... your y1 and y2 are what i'm refering to as extension of the candle....

the y1 and y2 can be potiental profit targets.... very good targets.....

also , the current candle's inner body will be retraced at times, this is a serious drain on the trades..... that effect is painfully obvious in the trades on the chart..... you can see a couple went negative and half the profit evaporated on the others...... several factors affect which candle is subject to retracement....


this was the reason...
I C,

well let me show you another thing about the one candle fibo about Y1 and Y2.


I attach for you now AJ chart of this week see how price keep respecting the Y1 and Y2 and as break below equal to break above!! around 44 pips above Y2 and below Y1
I will try what could be after Y1 and Y2 values might be.
then next post on they work the most.
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  • #13
  • Edited 4:24am Jun 12, 2010 12:45am | Edited 4:24am
here is my catch for yesterday using Y1 and Y2, entered sell GJ at 135.09

Attached picture for daily GJ chart
Attached Image
  • #14
  • Jun 12, 2010 3:05am Jun 12, 2010 3:05am
Sometimes I fibo one candel. But only after big move (news).

You can always fib for example 4h candel on 5 min chart and looking for entry.
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This is Forex ...
  • #15
  • Jun 12, 2010 3:48am Jun 12, 2010 3:48am
i actually started doing this the other week then a qoute from someone on here set me straight and i stopped using fibs lol the qoute "there are that many fibs lines that are that close together of course theres gunna be a reaction. its just one more thing to look at that i dont need in reality the more indicators i have the less i trust my skills.

regards damien

p.s i would fib the monthly and weekly both up and down then trade off the daily or 4hr hourly
i pull the trigger when others are fearful---me
  • #16
  • Jun 12, 2010 4:25am Jun 12, 2010 4:25am
Quoting damosdmf
i actually started doing this the other week then a qoute from someone on here set me straight and i stopped using fibs lol the qoute "there are that many fibs lines that are that close together of course theres gunna be a reaction. its just one more thing to look at that i dont need in reality the more indicators i have the less i trust my skills.

regards damien

p.s i would fib the monthly and weekly both up and down then trade off the daily or 4hr hourly
Hi Damien,

this is very good idea and seem to give a lot of pips with each trade as price run away fast from these levels as in post #7
  • #17
  • Aug 21, 2014 6:21am Aug 21, 2014 6:21am
Quoting hayseed
hey maanawi..... i'm not an expert in fibonacia but did write some ea's which evaluated extensions/retracements of single candles.... your looking way out with large multiple extensions..... my work was more looking at a particular value, roughly 23.6..... or maybe more like searching for the optimum value..... it involved both the 23.6 retracement of the signal candle and a 23.6 extension of it..... my thoughts were along the line of should we exit at the close and place pending orders 23.6 above to reenter..... as you can see in the picture, had...
dear mr h,

I am looking for EA which I could rearange (fib-values) to find out some of the probabilities I am exploring at this time. Is there any way you could help me with this, as I see you did already tackled this challenge.

I am looking around but cant find anything similar.

I appreciate,

J
  • #18
  • Aug 22, 2014 6:56am Aug 22, 2014 6:56am
Quoting 21vs7
{quote} dear mr h, I am looking for EA which I could rearange (fib-values) to find out some of the probabilities I am exploring at this time. Is there any way you could help me with this, as I see you did already tackled this challenge. I am looking around but cant find anything similar. I appreciate, J
//----

hey 21..... sure..... just figure out what your ideas are and post them here.... we should be able to do something....

most of my retracement ea's are now almost useless with ibfx's implementing nfa's fifo rules a couple weeks ago..... those ea's still might be of value for those not under nfa's rule though......

fifo has all but ended active use of limit orders.....h
to trade and code, keep both simple... no call to impress....h
  • #19
  • Aug 24, 2014 1:16pm Aug 24, 2014 1:16pm
Quoting hayseed
{quote} //---- hey 21..... sure..... just figure out what your ideas are and post them here.... we should be able to do something.... most of my retracement ea's are now almost useless with ibfx's implementing nfa's fifo rules a couple weeks ago..... those ea's still might be of value for those not under nfa's rule though...... fifo has all but ended active use of limit orders.....h
h, just saw it. thanks
heard about fifo yes. One should move if there is no future with them.

Ill get back to you
J
  • #20
  • Aug 25, 2014 2:25am Aug 25, 2014 2:25am
Quoting hayseed
{quote} //---- hey 21..... sure..... just figure out what ...
Ill try to represent this as much mechanically as I can.

1. PICK TF (It takes last closed candle)
strategies (both)
a) High-Low
b) Low-High

Fibonacci values-levels (a/b-represent which strategy was picked (high to low or low to high).

true/false 1a:0.809
true/false 1b:xxx
true/false 2a:xxx
true/false 2b:xxx
true/false 3a:xxx
true/false 3b:xxx
true/false 4a:xxx
true/false 4b:xxx


2. SL/TP levels
One could +/- some pips to that values.

Lets say:
EA sells 1a; SL 3a; TP 4b
EA sells 1b; SL 4a; TP 3b
etc.

Where one could pick SL and TP (Xa/Xb)

I see both sells and buys on this levels (no matter on the strategy of a/b). So, initially we wont have filters on, and we should have several orders(both sells and buys).

EA built till this stage is a cripple. BUT it would be able to present values of particular fibonacci level. I talk about the entry level/SL level and TP level.
It could be run on a backtester and we could have some statistical knowledge out of it. Surely some work with the old pencil after the backtest, but still...


First next stage

3. Filtering (when to use sells and when buy orders).
After some initial testing I would present also filtering. We could do this in the shadows, cus this indicator is not to be shared cus its only partly my knowledge. This indicator is not something new, its currency index indicator and there are couple of variants also on this FF.

But I would like to use mine afterwards, cus I did extended statistical works on this indicator.
This indicator cannot be backtested, that is why it is also excluded from the initial EA.

h, what do you reckon?
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