Fibonacci levels based on Daily Range indicator | Forex Factory

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Fibonacci levels based on Daily Range indicator

  • #1
  • First Post: Apr 26, 2013 8:20am Apr 26, 2013 8:20am
Does anyone know of an indicator that plots Fibonacci levels (for the current day) based on the daily range of "x" numbers of days? The open of the day would be the starting point and the Fibonacci levels would plot above and below for the current day.

Thanks!
  • #2
  • Apr 26, 2013 3:44pm Apr 26, 2013 3:44pm
So what is the Fibo level on the daily open? What determins which way the Fibo's set, for example 0/100 or 100/0.
Trade what you see not what you hope
  • #3
  • Apr 29, 2013 12:54pm Apr 29, 2013 12:54pm
Quoting cja
So what is the Fibo level on the daily open? What determins which way the Fibo's set, for example 0/100 or 100/0.
The daily open is 0 and I want it to plot Fibs going both ways, so it is 100/0/100. In other words, I want to be able to see the 23, 38, 50, 61, 76, 100 going long and short, where 0 to 100 is based on the last "x" days ADR. So if the ADR is 115, then 0 to 115 would be 0/100 on the Fib.
  • #4
  • May 3, 2013 7:25am May 3, 2013 7:25am
Thanks CJA! That's what I was looking for! I don't know how involved it might be to add some additional functionality, but it would be great to also have:

1. The option to turn a level "off".
2. The option to input/change the level percentage. So if I did not want the 76.4, but wanted the 161 extension...
3. The option to turn on/off the text of the fib and price level.

It works great as it is, so no worries... I appreciate the help!!!
  • #5
  • May 3, 2013 9:08am May 3, 2013 9:08am
CJA, if you are still interested.... is there a way to leave the lines on the historical chart? As one day changes to another, can we leave the lines? It can be very useful to be able to back test.

I intend to start a thread and this indicator is the centerpiece. Any help or feedback is appreciated.

Regards.
  • #6
  • Edited 10:26am May 3, 2013 9:28am | Edited 10:26am
Quoting Brapp
Thanks CJA! That's what I was looking for! I don't know how involved it might be to add some additional functionality, but it would be great to also have: 1. The option to turn a level "off". 2. The option to input/change the level percentage. So if I did not want the 76.4, but wanted the 161 extension... 3. The option to turn on/off the text of the fib and price level. It works great as it is, so no worries... I appreciate the help!!!
The 100 @ 0 levels cannot be altered as I figured you would need the 0 level as it is set to the open and the 100 is always the Daily Average.

Changes to the inputs are as follows
******************************************************************************
1/ Change line values using Fibo Level inputs
2/ Remove levels by setting the Fibo Level to "0"
3/ Show or hide the Fib and Price levels by changing "Show_Line_Labels" input to true or false

Try it now it appears to be working on JPY pairs correctly now.

Attached File(s)
File Type: mq4 DailyAverage Fibo v1.0.mq4   13 KB | 8,704 downloads
Trade what you see not what you hope
  • #7
  • May 3, 2013 12:16pm May 3, 2013 12:16pm
Quoting cja
{quote} The 100 @ 0 levels cannot be altered as I figured you would need the 0 level as it is set to the open and the 100 is always the Daily Average. Changes to the inputs are as follows ****************************************************************************** 1/ Change line values using Fibo Level inputs 2/ Remove levels by setting the Fibo Level to "0" 3/ Show or hide the Fib and Price levels by changing "Show_Line_Labels" input to true or false Try it now it appears to be working on JPY pairs correctly now. {file}
Perfect. Thank you!!
  • #8
  • Edited Nov 20, 2013 2:55am May 9, 2013 4:50am | Edited Nov 20, 2013 2:55am
Quoting Brapp
CJA, if you are still interested.... is there a way to leave the lines on the historical chart? As one day changes to another, can we leave the lines? It can be very useful to be able to back test. I intend to start a thread and this indicator is the centerpiece. Any help or feedback is appreciated. Regards.
This Daily Fibo Historical indicator has all of the features of the previous version plus some extras.
The line labels can have the Fibo levels or both Fibo and Prices displayed or no line labels.
The Daily Average for each day is displayed below the 100 Fib level and can be turned ON/OFF
Historical Prices can be dislayed for testing purposes.

updated small code fault concerning deleting of individual Fibo levels - sorry for any inconveniece

Attachment

Attached Image (click to enlarge)
Click to Enlarge Name: Fibo Historical.gif Size: 39 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Fibo Historical 1.gif Size: 46 KB
Trade what you see not what you hope
  • #9
  • Nov 7, 2013 1:00pm Nov 7, 2013 1:00pm
Hi,

how can I use this indicator for the past?

Would be cool of you to hear this, thank you
  • #10
  • Nov 7, 2013 11:28pm Nov 7, 2013 11:28pm
Quoting trading.qqq
Hi, how can I use this indicator for the past? Would be cool of you to hear this, thank you
Try this link this is where Brapp started a new thread using the Fib indicator you should be able to get some ideas on how to apply the Fib indicator if you read through the posts.

http://www.forexfactory.com/showthread.php?t=428425
Trade what you see not what you hope
  • #11
  • Nov 11, 2013 11:05am Nov 11, 2013 11:05am
Hello CJA, I hope you are well and are getting good trades!
I need for a weekly version of the Daily Average Fibo. I want the lines to generate off of the weekly close instead of the weekly open, and I want the lines to stay in place for the whole week. I hope that is something you would have time for and is not difficult. I want the Days_to_Average feature to stay the same so I can determine the averaged period -- I want a daily range average, not a weekly range average, used in the calculation. Let me know what you think...
Thanks!
  • #12
  • Nov 12, 2013 1:16pm Nov 12, 2013 1:16pm
I have just realised that I posted the wrong indicator for the Historical past on the above post #8, I updated the indicator after posting and somehow reposted the previous version instead of the update. I am really surprised no one has bought this to my attention earlier, sorry for any inconvenience and confusion caused.

Attached File(s)
File Type: ex4 Daily Average Fibo Historical v1.0.ex4   25 KB | 4,618 downloads
Trade what you see not what you hope
  • #13
  • Nov 12, 2013 2:00pm Nov 12, 2013 2:00pm
I thought something was wrong, had meant to reach out to notify you. At any rate, thank you for the update. Much appreciated.

Cheers.
  • #14
  • Nov 14, 2013 11:08pm Nov 14, 2013 11:08pm
Quoting Brapp
Hello CJA, I hope you are well and are getting good trades! I need for a weekly version of the Daily Average Fibo. I want the lines to generate off of the weekly close instead of the weekly open, and I want the lines to stay in place for the whole week. I hope that is something you would have time for and is not difficult. I want the Days_to_Average feature to stay the same so I can determine the averaged period -- I want a daily range average, not a weekly range average, used in the calculation. Let me know what you think... Thanks!
Hi Brapp,
I have added in some extra levels because price can tend to exceed the Daily Range when used over a Week. If you need any alterations please let me know.

Attached File(s)
File Type: ex4 Daily Average Fibo Historical Weekly Display.ex4   20 KB | 3,333 downloads


Attached Image (click to enlarge)
Click to Enlarge Name: Fibo DailyWeekly.gif Size: 32 KB
Trade what you see not what you hope
  • #15
  • Nov 16, 2013 5:49pm Nov 16, 2013 5:49pm
Hello Master,

I need help you to create indicators similar Daily Average Fibo Historical v1.0.ex4,
but based on 30 pips the first in daily range,
please see this image :

http://s6.postimg.org/qpoh4sdtt/RW3010.png

My Logic, when prices are up to 30 pips first of the daily range, Drawing Lines :

1. Style Dot
Color Lime in High Price,
Color Red in Low Price,
Yellow in Middle Price.

2. Style Dash
Color Lime +30 Pips from High Price,
Color Red -30 Pips from Low Price,
Yellow Middle Line Lime And Red.

Thanks so much Master, {^_^}
  • #16
  • Nov 19, 2013 1:44pm Nov 19, 2013 1:44pm
Here are the final completed indicators for both the Daily Average Fibs and the Daily Average Weekly Fibs, the Weekly has had extra levels added and now goes to 300, the historical labels can now be altered to show the fib level or fib level and price or no labels just the same as the current levels and prices.

Note: The previous versions Daily Average Fibo Historical Weekly Display and Daily Average Fibo Historical v1.0 had some minor code faults to do with the display so please download and use the latest versions on this post.

Attached File(s)
File Type: ex4 Daily Average Fibo Historical v1.1.ex4   12 KB | 4,119 downloads


Attached File(s)
File Type: ex4 Daily Average Fibo Historical Weekly Display v1.0.ex4   23 KB | 3,192 downloads
Trade what you see not what you hope
  • #17
  • Jan 18, 2014 11:35am Jan 18, 2014 11:35am
Dear CJA,

Do you have a HOURLY Average Fibo Historical?

With Regards,
fieryhavoc
  • #18
  • Edited Aug 12, 2014 7:16am Aug 11, 2014 11:25pm | Edited Aug 12, 2014 7:16am
I have had a request for a Monthly version of the indicator, this has been rewritten to work on the new 600 series MT4. I have added an input which allows the Monthly Fib levels to have either Daily / Weekly or Monthly average data applied.

Note : I have changed the label code so that all 3 of the indicators ( Monthly Weekly Daily ) can be put on the same chart if required, if you intend to do that please download the updated version.

Attached File(s)
File Type: ex4 Average Fibo Historical Monthly Display nmc.ex4   135 KB | 2,511 downloads
Trade what you see not what you hope
  • #19
  • Aug 17, 2014 7:56pm Aug 17, 2014 7:56pm
Another request for a Weekly version but using the Weekly average applied to the Fib levels instead of the Daily Average. This indicator has been rewritten to work on the new 600 series MT4.

Attached File(s)
File Type: ex4 Weekly Average Fibo Historical Weekly Display.ex4   151 KB | 2,431 downloads
Trade what you see not what you hope
  • #20
  • Sep 13, 2014 2:19am Sep 13, 2014 2:19am
Quoting cja
Another request for a Weekly version but using the Weekly average applied to the Fib levels instead of the Daily Average. This indicator has been rewritten to work on the new 600 series MT4. {file}

Hi CJA. You made a super thing. But something wrong with monthly display
Here the picture
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 122 KB
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