Steve Hopwood's Fib Target-level retracement auto-trader: compliments Simone
There is an even better solution at http://www.forexfactory.com/showpost...&postcount=359
Mine works, so I have not updated post 1; if you fancy, make the change yourselves.
I have previously only ever had FTLR on 4 hour charts with T1 as the fixed trade trigger
Since the new updates I decided to try daily charts as these seem the most popular and I have also chosen the auto trade trigger parameter
On all my charts the trade trigger is identified as T4 in the onscreen user feedback ...... is everyone seeing same and is this correct ?
This would suggest a very sustantial move within any one day is going to be needed to trigger any trade, I expect trades are going to be few and far between, is this as intended ?...
and so on, we still need values for x, x1, x2 and x3. I have no idea what they should be.
This filter is useless unless we can come up with some volatility levels. Over to you guys for idea now.
Good Morning Steve,
If a chart could be produced of the actual (real time) ATR of each pair it would be easy to split them into groups. Once into groups, levels could be set and give “x” a number.
The chart would need to be auto recalc (maybe updated at 5,10,20? second intervals) and generated by the bot.
The level's could be a user input so they could be adjusted to control the trigger.
I hope this makes sense......
whip
No idea how to do this, whip.
Sorry Steve,
I was hoping the ATR value could be gathered on each pair and sorted by amount into groups.....Just a shot
whip
Yes, it can. It was the 'real time chart' bit that confused me.
If you simply meant: if xxxxxx atr is in between x & x1 values, then it belongs to y group, then nothing is easier.
But which values to apply to the groups, i.e.
- x = moribund
- x1 = medium vol
- x2 = volatile
- x3 = psychotically deranged
Steve,
I think that would be the starting point.....The hard part is steadly updating the ATR to keep it up to date......The value of each pair won't change a great amount.....Then just,to start, pick a range for each group....
Keeping it up to date is easy - just needs a call to ATR at the start of each new candle.
To get us started, I will code three volatility levels and assign arbitrary ATR boundaries to them via inputs. Once we get GJ in the top band and, say, AUDUSD in the bottom, we will know we are on the right track.
I will look at this later.
Hi
I find that this mataf volatility calculator is pretty accurate and up to date. It has user input for periods as well. Please have a look IMHO it is more up to date than bob`s list.
http://www.mataf.net/en/tools/02-01-volatility
Kind regards
It would be possible to subdivide 2) so that 150 became a T3 trigger and >200 became a T4 trigger.
How does this sound?
There is a commented out Alert in the code that will show the number of pips resulting from the above calculation that you can use for checking by un-commenting it and re-compiling (void CalculateTradeTrigger() ). The values returned have been close enough to those in the mataf table to appear ok, but you all know what my eye for detail is like. 
Give this a whirl and see what you think.
