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Simple Fibonacci Trading

  • #101
  • Mar 24, 2012 2:00pm Mar 24, 2012 2:00pm
Quoting okoli122402
Hugh,

I have been following your system and agree that the system has great potential of helping those of us that believe in Fibonacci.

Kindly help me identify how to make my drawn fib levels to show currency prices at the various levels. I could not see where to add the "%$" as you stated in Post #1. I use Metatrader 4.

Thanks again for your sacrifices.


Okoli122402
Please look at attached pic. for more detail.
Attached Image (click to enlarge)
Click to Enlarge Name: fib.jpg Size: 94 KB
  • #102
  • Mar 24, 2012 3:52pm Mar 24, 2012 3:52pm
Quoting forexier
Please look at attached pic. for more detail.
Thank you, Forexier, I appreciate your quick response to my request.

I am always full of gratitude to those of you who, despite your highly needed time for trading and reviews, still make time to attend to forums and offer valuable and gainful assistance.

Thanks again.

Okoli122402
the Lines are fallen unto me in pleasant places
  • #103
  • Edited 4:07pm Mar 24, 2012 3:55pm | Edited 4:07pm
Hi ferrufx great ea but am a slow leaner pls explain again how to use the ea again i mean were to write the buy and sell. once again sorry for trouble you great thread as a whole. if you can use an example at the ea window as attached to the window will help. thank you.
  • #104
  • Mar 24, 2012 4:53pm Mar 24, 2012 4:53pm
....
Attached Image (click to enlarge)
Click to Enlarge Name: 111.jpg Size: 118 KB
  • #105
  • Edited 4:54am Mar 25, 2012 4:37am | Edited 4:54am
Quoting Tiwa
Hi ferrufx great ea but am a slow leaner pls explain again how to use the ea again i mean where to write the buy and sell. once again sorry for trouble you great thread as a whole. if you can use an example at the ea window as attached to the window will help. thank you.
Please look at attached pic. for more detail.
Draw Fib. levels from "A" to "B" . The "EA" will set a sell stop when the price touches the level 50 with default SL & TP and will delete it if the price touches the 61.8% fib. level.
EA does not need any setting except proper lot size. It will automatically act based on fibo levels.

- Dear Ferrufx, would you please change the "EA" code as be able to set other desired levels for action (like 61.8 or 78.6,....) or consider multiple price action for EA. thank you in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: fib.JPG Size: 60 KB
  • #106
  • Mar 25, 2012 6:10am Mar 25, 2012 6:10am
thanks forexier well explain and good question you ask to be able to set desire levels woyld be lovely and can youpls pm me when modify once again thanks
  • #107
  • Mar 25, 2012 6:49am Mar 25, 2012 6:49am
Quoting forexier
Dear Ferrufx, would you please change the "EA" code as be able to set other desired levels for action (like 61.8 or 78.6,....) or consider multiple price action for EA. thank you in advance.
Ok will add external inputs to be set as the levels to be traded and for the TP/SL.

Will look at this asap.
MT4/MT5 EAs/Indicators/Alerts coder
  • #108
  • Mar 25, 2012 7:19am Mar 25, 2012 7:19am
Quoting FerruFx
Ok will add external inputs to be set as the levels to be traded and for the TP/SL.

Will look at this asap.
Great Job and thanks a lot dear friend.
  • #109
  • Mar 25, 2012 9:55am Mar 25, 2012 9:55am
Quoting hutrader
GBPJPY.
What do you guys think?
Looks good to me but you're a little late to the party!
  • #110
  • Mar 25, 2012 9:56am Mar 25, 2012 9:56am
Quoting piprac
Hugh -

I have looked at 10 pairs on the 4H TF and there were no 50% retracements; there were two on the 1H. This was after the FRi. close so action was frozen. I assume there are more opportunities on the lower TFs (which I haven't looked at below 1H yet) meaning of course there may be pullbacks blowing through the 50% level in the wrong direction. In post #1 I see you prefer5 & 15M TFs so many trades possible but fewer pips.

Your thoughts please and thank you for the thread. I make stupid entries on your stochastic strategy so maybe having...
Works fine on any timeframe, you just need to be there to catch them.
  • #111
  • Mar 25, 2012 9:57am Mar 25, 2012 9:57am
Quoting forexier
Please look at attached pic. for more detail.
Thanks for posting that.
  • #112
  • Mar 25, 2012 11:04am Mar 25, 2012 11:04am
Here's the updated version. Defaults are the original levels in post #1.

Level_retrace = where the price has to go in order to enter the pending
Level_pending = where the pending is placed
Level_TP1 = where the position will partially close
Level_TP2 = final target (the input has to be negative if the levels is extension of the fibo)
Level_SL = where the SL will be placed or pending canceled if not triggered
Attached File(s)
File Type: ex4 FibonacciTradeManager_v2.ex4   13 KB | 1,209 downloads
MT4/MT5 EAs/Indicators/Alerts coder
  • #113
  • Mar 25, 2012 12:55pm Mar 25, 2012 12:55pm
Quoting FerruFx
Here's the updated version. Defaults are the original levels in post #1.

Level_retrace = where the price has to go in order to enter the pending
Level_pending = where the pending is placed
Level_TP1 = where the position will partially close
Level_TP2 = final target (the input has to be negative if the levels is extension of the fibo)
Level_SL = where the SL will be placed or pending canceled if not triggered
Thank you very much Dear FerruFx for the great and professional EA.
Just 1 question:
Does "Level _ TP1" mean the level where the position will BE?
Thanks again.
  • #114
  • Mar 25, 2012 1:53pm Mar 25, 2012 1:53pm
Quoting FerruFx
Here's the updated version. Defaults are the original levels in post #1.

Level_retrace = where the price has to go in order to enter the pending
Level_pending = where the pending is placed
Level_TP1 = where the position will partially close
Level_TP2 = final target (the input has to be negative if the levels is extension of the fibo)
Level_SL = where the SL will be placed or pending canceled if not triggered
Thank you for the quick development of the EA.
Please, does the EA draw the Fib lines and initiate trades now that you updated it.

I will be glad to see the EA function as per the instructions of Mr. Hugh.

Thanks for the effort
the Lines are fallen unto me in pleasant places
  • #115
  • Mar 25, 2012 3:12pm Mar 25, 2012 3:12pm
Quoting FerruFx
Here's the updated version. Defaults are the original levels in post #1.

Level_retrace = where the price has to go in order to enter the pending
Level_pending = where the pending is placed
Level_TP1 = where the position will partially close
Level_TP2 = final target (the input has to be negative if the levels is extension of the fibo)
Level_SL = where the SL will be placed or pending canceled if not triggered
Outstanding, thanks very much. I can't wait to try it out.
  • #116
  • Mar 25, 2012 8:08pm Mar 25, 2012 8:08pm
Quoting forexier
Just 1 question:
Does "Level _ TP1" mean the level where the position will BE?
Yes
MT4/MT5 EAs/Indicators/Alerts coder
  • #117
  • Mar 25, 2012 8:10pm Mar 25, 2012 8:10pm
Quoting okoli122402
Please, does the EA draw the Fib lines and initiate trades now that you updated it.

I will be glad to see the EA function as per the instructions of Mr. Hugh.
The EA follow the rules in post #1.

You must draw the Fibo as per your own vision of the chart.
MT4/MT5 EAs/Indicators/Alerts coder
  • #118
  • Mar 25, 2012 8:11pm Mar 25, 2012 8:11pm
Quoting Hugh Briss
Outstanding, thanks very much. I can't wait to try it out.
You're welcome!
MT4/MT5 EAs/Indicators/Alerts coder
  • #119
  • Mar 25, 2012 9:19pm Mar 25, 2012 9:19pm
GJ- long on H4
AU-short on H4
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au-h4-short.gif Size: 28 KB
Click to Enlarge Name: gbpjpy-h4-ong.gif Size: 27 KB
What Goes Up Must Come Down, But When?
  • #120
  • Mar 26, 2012 12:21am Mar 26, 2012 12:21am
Quoting arunsudhilal
GJ- long on H4
AU-short on H4
Very reasonable looking trades.
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