(binned per thread starter’s request) Fibo zones - the relation b | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Fibo Fibo Fibo 14 replies

FIBO ind request 17 replies

fibo alert indicator - get alerts on fibo levels 4 replies

How do differentiate between Fibo and Fibo TimeZones? 4 replies

Attachments: (binned per thread starter’s request) Fibo zones - the relation b
Exit Attachments

(binned per thread starter’s request) Fibo zones - the relation b

  • #61
  • Apr 2, 2013 2:04am Apr 2, 2013 2:04am
Quoting rstranger
I did not use the fib calc excel as my basis for entry. my entry was already triggered before I checked it from the calc excel file. I myself is confused with the rules. But I somehow noticed that the values in the excel file is a bit close to the values generated by the Pivots D4 indicator.
Hi everybody, it seems that the interest in this thread is growing up so with the support of everybody maybe we will get the target sooner or later.
rstranger, yes, the concept behind is the calculation of pivots (HLC/3) combined with the calculation of fibo support/resistance (.618 and 1.382).
If you combine all together you have viable price reaction levels.
From this basis you can calculate probabilities about which levels will most likely be triggered by prices and therefore you will know direction and reversal points.
In pdf I attached there are calculation formulas.
So yellow and red signals are calculated computing the ratio between HLCs and fibo zones of last 2 days; green signal or gbp calc (I suppose they are the same otherwise we should have 4 signals instead of 3) is calculated computing the ratio between HL of 2 days ago and the close of yesterday and somehow the same for fibo zones...this is what I have understood.
Thks you rstranger now we have the no-password excel file.

It would be great if someone could compare march/april 2006 data with the backtest sheet..maybe we could have some more confirmations. I know that is possible to download historical data for free from Dukascopy but I'm not clever in doing that, so please we need a volunteer
  • #62
  • Apr 2, 2013 2:32am Apr 2, 2013 2:32am
Hello there,

i can't follow the thread much. I am working on my system takes time.

Strongtrader the file you need is attached, i checked first and last days they match.

Be careful to match the days when you look excel sheet's row and txt file's days.
Attached File(s)
File Type: txt GBPUSD_01.03.2006-30.04.2006.txt   4 KB | 621 downloads
  • #63
  • Apr 2, 2013 2:39am Apr 2, 2013 2:39am
Just for example: rstranger entered long following the yellow signal while I took the short following the red signal combined with green. The long wasn't wrong but the odds today are more on the short side. So the calc sheet shows the most viable signal for the day in terms of probabilities, there is nothing sure in trading. So we can also take a signal in the opposite direction if we believe that there are the right conditions, but we also know that the odds are on the other direction.
SMA100 is a filter so although if prices are above it this doesn't mean we can go long only, it depends of where are the extremes and of the general picture we see.
I hope this makes sense to you
  • #64
  • Apr 2, 2013 2:41am Apr 2, 2013 2:41am
Quoting captain73
Hello there, i can't follow the thread much. I am working on my system takes time. Strongtrader the file you need is attached, i checked first and last days they match. Be careful to match the days when you look excel sheet's row and txt file's days. {file}
THKS
  • #65
  • Apr 2, 2013 3:14am Apr 2, 2013 3:14am
Hi Strongtrader,

As per your following comment

So yellow and red signals are calculated computing the ratio between HLCs and fibo zones of last 2 days; green signal or gbp calc (I suppose they are the same otherwise we should have 4 signals instead of 3) is calculated computing the ratio between HL of 2 days ago and the close of yesterday and somehow the same for fibo zones...this is what I have understood.

in Red zone fibo calculator which you are saying decide the gbp calc caluclation is based on HL of 2 days ago and close of yesterday.But when I try to back test it ,by default Fibo zone calculator is taking High of two days back, low of yeserday and close of yesterday.
For example you can input the first day of April back test data and excel sheet.I have entered it and please see below screenshot.Do we need to manually change the values?Let me know.

I marked it with yellow mark and black box.Field which I am talking about.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 86 KB
  • #66
  • Apr 2, 2013 3:27am Apr 2, 2013 3:27am
@bedayan,

you have to input the values manually in the 'Signal Today' sheet under the "Entry Data Here" section. that's what I did and it automatically calculates the values in the 'Yellow Fibo' and 'Red Fibo' sheets.
  • #67
  • Apr 2, 2013 3:34am Apr 2, 2013 3:34am
Quoting rstranger
@bedayan, you have to input the values manually in the 'Signal Today' sheet under the "Entry Data Here" section. that's what I did and it automatically calculates the values in the 'Yellow Fibo' and 'Red Fibo' sheets.
Hi Rstranger,

You did not understand my question I am not talking about red or yellow fib.I am talking about GBP calculation.For Green zone calculation we are using above Fib zone calculator.But according to strong trader values should be previous two day high low and close of yesterday.
But for above fib calculation its picking different high low close value for fib calculation.

Please check yesterday strongtrader post and todays post.
  • #68
  • Apr 2, 2013 3:47am Apr 2, 2013 3:47am
while calcualting above fibo calculator we are not considering the high low of previous 2 days its consider highest high pervious two days and lowest low of previous two days and close of yesterday to calculate the zones.You can check the calculation.

Strong trader can you please explain how its deciding buy sell for green zone? Do you just simply taking signal which is marked right side of the table.In above screenshot its Buy
  • #69
  • Apr 2, 2013 5:39am Apr 2, 2013 5:39am
Quoting bedayan
Hi Strongtrader, As per your following comment So yellow and red signals are calculated computing the ratio between HLCs and fibo zones of last 2 days; green signal or gbp calc (I suppose they are the same otherwise we should have 4 signals instead of 3) is calculated computing the ratio between HL of 2 days ago and the close of yesterday and somehow the same for fibo zones...this is what I have understood. in Red zone fibo calculator which you are saying decide the gbp calc caluclation is based on HL of 2 days ago and close of yesterday.But when...
Hi bedayan, I've been not clear enough, sorry but english is not my mother language.
So look at the image below (about gbpusd), I circled what I'm talking about...you see 2 rows, the first one on the left side is about today zones levels from 1 to 6 and they are the same as they are showed on the upper side, but the second row on the right side shows 4 levels, 2 are for the extreme high and 2 are for the extreme low for today.
You see that zone 6 is at 1.5299 but the extimated extreme high of today that is 1.5235 matches with zone 6, said that for me 1.5235 is in zone 6. This is the meaning of what is written in the first sheet "if open at zone 6 take sell" etc. This is my opinion
Attached Image (click to enlarge)
Click to Enlarge Name: Immagine.JPG Size: 197 KB
  • #70
  • Apr 2, 2013 5:49am Apr 2, 2013 5:49am
Quoting bedayan
Hi Strongtrader, As per your following comment So yellow and red signals are calculated computing the ratio between HLCs and fibo zones of last 2 days; green signal or gbp calc (I suppose they are the same otherwise we should have 4 signals instead of 3) is calculated computing the ratio between HL of 2 days ago and the close of yesterday and somehow the same for fibo zones...this is what I have understood. in Red zone fibo calculator which you are saying decide the gbp calc caluclation is based on HL of 2 days ago and close of yesterday.But when...
So fibo zones are calculated the same as yellow, red and green, what is calculated differently si HLC only, that for yellow and red is the ratio between HLC of the previous 2 days, meanwhile for green (gbp calc) is the ratio between HL of 2 days ago and yesterday close.
This should be the reason why we can have today extimated extremes in zone 1 and 6 although zone 1 and 6 are at different levels.
It's like a brain teaser but I hope I've been clear enough this time.
PS don't put data anywhere else that the first sheet where is written "entry data here" otherwise you will corrupt the file!
  • #71
  • Apr 2, 2013 5:51am Apr 2, 2013 5:51am
To share my analysis below. Hope it provide you little more information.

Edit: Trending is today price break yesterday high or low. Ranging is today price stay within yesterday high and low. This analysis is for year 2008 EURUSD.

Attached Image (click to enlarge)
Click to Enlarge Name: Trending.jpg Size: 156 KB

Top/Ext. H Section (Legend)
Frequency Low/High: Today low
Ext H: Extension of fibonacci from yesterday, also is today high

Bottom/Ext. L Section (Legend)
Frequency Low/High: Today high
Ext H: Extension of fibonacci from yesterday, also is today low

Setup for Trending Scenario
Entry = Pick horizontal %
Target = Pick vertical %

Explanation:
Probability of 100% is the area where if today low is 76.4-100% and extension high is 100-123.6%.
Probability of 100% is the area where if today high is 0-23.6% and extension low is 0 to -23.6%.
The concept of this probability is the chances of price penetrate/move through the Fibonacci area.


Attached Image (click to enlarge)
Click to Enlarge Name: Ranging.jpg Size: 91 KB

Setup for Ranging Scenario
Pick the green color only
Entry = Pick vertical %
Target = Pick horizontal %

Explanation:
Same concept as trending. So this does not require an explanation.
  • #72
  • Edited 7:47am Apr 2, 2013 5:57am | Edited 7:47am
Simple indy that will magnify the last two days HLC prices on the chart.
It should not take Sunday candle into account.

EDIT : reuploaded version that shows also current H/L/C.
Useful if you want to trade before bedtime and not wait 1am
Attached File(s)
File Type: mq4 Daily OHLC.mq4   7 KB | 1,012 downloads
Meeeooow !!!
  • #73
  • Apr 2, 2013 6:14am Apr 2, 2013 6:14am
Quoting strongtrader
So fibo zones are calculated the same as yellow, red and green, what is calculated differently si HLC only, that for yellow and red is the ratio between HLC of the previous 2 days, meanwhile for green (gbp calc) is the ratio between HL of 2 days ago and yesterday close. This should be the reason why we can have today extimated extremes in zone 1 and 6 although zone 1 and 6 are at different levels. It's like a brain teaser but I hope I've been clear enough this time. PS don't put data anywhere else that the first sheet where is written "entry...
Hi Strongtrader,

Thanks for the reply.No I am putting the data only in first sheet. I thought zone means a range of price.I thought according to your screenshot zone6 is from 1.5299 till 1.5235.

One more thing if you check today price action todays open was not in zone 6.But few hour before franfurt open it came to 1.5236 and then fall.In that while candle open what is is conclusion regarding green zone? is it buy or sell? I am using newyork close chart.

So what open we will consider? current day candle open any other open?
  • #74
  • Apr 2, 2013 6:18am Apr 2, 2013 6:18am
Quoting bedayan
while calcualting above fibo calculator we are not considering the high low of previous 2 days its consider highest high pervious two days and lowest low of previous two days and close of yesterday to calculate the zones.You can check the calculation. Strong trader can you please explain how its deciding buy sell for green zone? Do you just simply taking signal which is marked right side of the table.In above screenshot its Buy
You need two concurrent signals: both yellow and red, or yellow and green or red and green
  • #75
  • Apr 2, 2013 6:27am Apr 2, 2013 6:27am
Quoting strongtrader
You need two concurrent signals: both yellow and red, or yellow and green or red and green
Green signal you derived from if current candle open price is in zone 6 then sell or current candle open price is in zone 1 then buy or simply take following marke section as your green signal.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 99 KB
  • #76
  • Apr 2, 2013 6:28am Apr 2, 2013 6:28am
Quoting bedayan
Hi Strongtrader, Thanks for the reply.No I am putting the data only in first sheet. I thought zone means a range of price.I thought according to your screenshot zone6 is from 1.5299 till 1.5235. One more thing if you check today price action todays open was not in zone 6.But few hour before franfurt open it came to 1.5236 and then fall.In that while candle open what is is conclusion regarding green zone? is it buy or sell? I am using newyork close chart. So what open we will consider? current day candle open any other open?
Well you are right, it was note in zone 6 but very near....I think we need some aproximation, we have to consider them zones and not exact levels...what we need to know is the extremes zones and then take action accordingly to price action
So in the case of gbpusd we had three concurrent signals yellow, red and green they were sell...look at what happened...great! eurusd and audusd are slower but are going down as predicted and usdcad reached its target in the morning....so we have 4 signals on 4 pairs all doing well, almost unreal, but that's it.
  • #77
  • Apr 2, 2013 6:33am Apr 2, 2013 6:33am
Quoting captain73
Hello there, i can't follow the thread much. I am working on my system takes time. Strongtrader the file you need is attached, i checked first and last days they match. Be careful to match the days when you look excel sheet's row and txt file's days. {file}
Hi captain, I looked at data and they all matches, only closing day data are different but this is due to difference in time...calc sheet uses 23:00 pm gmt as referring point, your data sheet uses 2:00 am i don't know which gmt, so it should be ok.
Now we have the calc sheet without password so we can see all the calculations formulas, did you see it? I think now if you still would like to make a backtest you can do it.
Cheers
  • #78
  • Apr 2, 2013 6:36am Apr 2, 2013 6:36am
Quoting ~bull.bear~
To share my analysis below. Hope it provide you little more information. Edit: Trending is today price break yesterday high or low. Ranging is today price stay within yesterday high and low. This analysis is for year 2008 EURUSD. {image} Top/Ext. H Section (Legend) Frequency Low/High: Today low Ext H: Extension of fibonacci from yesterday, also is today high Bottom/Ext. L Section (Legend) Frequency Low/High: Today high Ext H: Extension of fibonacci from yesterday, also is today low Setup for Trending Scenario Entry = Pick horizontal % Target...
Nicely, thank you...do you have the excel file too?
  • #79
  • Apr 2, 2013 6:37am Apr 2, 2013 6:37am
Quoting niepce
Simple indy that will magnify the last two days HLC prices on the chart. It should not take Sunday candle into account. {file}
Thks niepce, I'll take a look
  • #80
  • Apr 2, 2013 7:45am Apr 2, 2013 7:45am
that's about it basically :
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 21 KB
Attached File(s)
File Type: mq4 Daily OHLC.mq4   7 KB | 648 downloads
Meeeooow !!!
1 trader viewing now