I am trying to implement a Fibonacci filter to my EA in order to maximize the profits and reduce the draw-downs (you know, the good stuff).
I created a Fib function based on Donchian channels and tried it out on my optimizations (WITHOUT RE-optimizing). I was surprised by the lack of consistent improvement throughout my various optimizations.
I also tried
I can plainly see by looking at price action on fib levels that the price obeys the levels as S&R....so why can't I achieve consistently positive results?
Any ideas? Anyone use Fib in a way different to the ways I mentioned?
I created a Fib function based on Donchian channels and tried it out on my optimizations (WITHOUT RE-optimizing). I was surprised by the lack of consistent improvement throughout my various optimizations.
Inserted Code
/*lprice and hprice are the high and low of a large-period (ex. 10080)
Donchian channel.
Various Fib levels are stored in the array L.
*/
L[0] = lprice;
L[1] = ((hprice-lprice)*0.236068)+lprice;
L[2] = ((hprice-lprice)*0.381966)+lprice;
L[3] = ((hprice-lprice)*0.5)+lprice;
L[4] = ((hprice-lprice)*0.61803399)+lprice;
L[5] = hprice;
for (int i = 0; i<14; i++)
{
[b]if (Close[0] < L[i] && Close[0] + FibMargin*pt > L[i]) buys = false;
if (Close[0] > L[i] && Close[0] - FibMargin*pt < L[i]) sells = false;[/b]
} I also tried
Inserted Code
if (Close[1]>L[i] && Close[0]<L[i]) buys = false; if (Close[1]<L[i] && Close[0]>L[i]) sells = false;
I can plainly see by looking at price action on fib levels that the price obeys the levels as S&R....so why can't I achieve consistently positive results?
Any ideas? Anyone use Fib in a way different to the ways I mentioned?