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Multicolor Fibonacci Retracement Tool

  • #1
  • First Post: Edited Dec 25, 2020 9:31pm Jul 1, 2015 12:24pm | Edited Dec 25, 2020 9:31pm
Update: Latest version 1.14

I've had a few requests to share my multicolor fibonacci retracement tool which I use in my personal trading.
All this tool does is give you more control over the appearance of your fibonacci objects. It doesn't automatically draw them for you or anything like that.



You will need to add FibTool2.ex4 into your Indicators folders. You add it to your chart and leave it there like any other indicator.

In the options, you can specify different colors, widths and styles for up to 10 different levels:


You can also decide if you want the price to be displayed.


Once the indicator is added, you will see a small toggle button to open the control panel:



Your 10 preset levels will appear in the control panel. Clicking will turn each one on/off.


Whatever you set in the control panel will take effect on the next fib you create or move.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fibtool.png Size: 56 KB
Click to Enlarge Name: levels.png Size: 75 KB
Click to Enlarge Name: prices.png Size: 49 KB
Click to Enlarge Name: dash.png Size: 57 KB
Click to Enlarge Name: selections.png Size: 57 KB
Click to Enlarge Name: toggle.png Size: 34 KB
  • #2
  • Jul 2, 2015 8:14am Jul 2, 2015 8:14am
Thank you for releasing this tool.
Can you increase the number of levels more than 10 ?
It never gets easier, you just get better
  • #3
  • Jul 2, 2015 8:23am Jul 2, 2015 8:23am
Quoting honestknave
I've had a few requests to share my multicolor fibonacci retracement tool which I use in my personal trading. All this tool does is give you more control over the appearance of your fibonacci objects. It doesn't automatically draw them for you or anything like that. {image} You will need to add FibTool2.ex4 into your Indicators folders. You add it to your chart and leave it there like any other indicator. In the options, you can specify different colors, widths and styles for up to 10 different levels: {image} You can also decide if you want the...
Thank you honestknave, for sharing fibonacci retracement it is really a great contribution and great tool.

Regards,
Moti
  • #4
  • Jul 3, 2015 2:10am Jul 3, 2015 2:10am
Quoting Shabs19
Thank you for releasing this tool. Can you increase the number of levels more than 10 ?
Hello Shabs19,

This is actually a component of a larger toolbox I use in my own trading. As such, 10 is ample for my needs and the space that 10 takes up is rather integral to my toolbox design...

If this release proves stable, then I can release a second version with more levels... However, I don't want to find myself having to support 2 versions (the 10 level version that I need for my trading and another version with more levels).

Let's give it some time and make sure it proves stable first.
  • #5
  • Jul 3, 2015 2:10am Jul 3, 2015 2:10am
Quoting Motiram
{quote} Thank you honestknave, for sharing fibonacci retracement it is really a great contribution and great tool. Regards, Moti
You're most welcome Moti
  • #6
  • Edited 7:16am Jul 6, 2015 6:59am | Edited 7:16am
An enhancement to FibTool2 (version 1.01):

You can now use 3 different preset selections:
Attached Image (click to enlarge)
Click to Enlarge Name: presets.png Size: 42 KB



Each preset is a list of the fibs you want activated, using a comma between each:
Attached Image (click to enlarge)
Click to Enlarge Name: numbers.png Size: 53 KB


Simply..
Press 1 on your keyboard to select Preset 1
Press 2 on your keyboard to select Preset 2
Press 3 on your keyboard to select Preset 3

As an additional function, if you...
1. Allow DLL imports:
Attached Image (click to enlarge)
Click to Enlarge Name: dll.png Size: 32 KB


2. Enable Autoselect Fib Tool
Attached Image (click to enlarge)
Click to Enlarge Name: autoselect.png Size: 42 KB


Your cursor will automatically change to the fibonacci retracement tool when you press 1, 2 or 3:
Attached Image
Attached File(s)
File Type: ex4 FibTool2.ex4   53 KB | 6,025 downloads
  • #7
  • Jul 6, 2015 7:54am Jul 6, 2015 7:54am
Quoting honestknave
An enhancement to FibTool2 (version 1.01): You can now use 3 different preset selections: {image} Each preset is a list of the fibs you want activated, using a comma between each: {image} Simply.. Press 1 on your keyboard to select Preset 1 Press 2 on your keyboard to select Preset 2 Press 3 on your keyboard to select Preset 3 As an additional function, if you... 1. Allow DLL imports: {image} 2. Enable Autoselect Fib Tool {image} Your cursor will automatically change to the fibonacci retracement tool when you press 1, 2 or 3: {image} {file}
honestknave, Amazing Fib Tool I like it very much, is it possible to add some button to switch upside down & downside up
For example after the is fib drawn can be switched 0-100 up down by some button by clinking the mouse
Thank you
Regards,
Moti
  • #8
  • Jul 7, 2015 8:37am Jul 7, 2015 8:37am
Quoting Motiram
{quote} honestknave, Amazing Fib Tool I like it very much, is it possible to add some button to switch upside down & downside up For example after the is fib drawn can be switched 0-100 up down by some button by clinking the mouse Thank you Regards, Moti
Hello Moti,
It is possible, but I'll have to figure out an intuitive way of making it work. Leave it with me for a bit.
  • #9
  • Jul 7, 2015 8:55am Jul 7, 2015 8:55am
Quoting honestknave
{quote} Hello Moti, It is possible, but I'll have to figure out an intuitive way of making it work. Leave it with me for a bit.
honestknave, Thank you
Regards,
Moti
  • #10
  • Jul 7, 2015 10:41am Jul 7, 2015 10:41am
Quoting honestknave
An enhancement to FibTool2 (version 1.01): You can now use 3 different preset selections: {image} Each preset is a list of the fibs you want activated, using a comma between each: {image} Simply.. Press 1 on your keyboard to select Preset 1 Press 2 on your keyboard to select Preset 2 Press 3 on your keyboard to select Preset 3 As an additional function, if you... 1. Allow DLL imports: {image} 2. Enable Autoselect Fib Tool {image} Your cursor will automatically change to the fibonacci retracement tool when you press 1, 2 or 3: {image} {file}
You have great skills as a coder. Didn't know MT4 had all this capability.
It never gets easier, you just get better
  • #11
  • Jul 7, 2015 11:06am Jul 7, 2015 11:06am
Quoting Shabs19
{quote} You have great skills as a coder. Didn't know MT4 had all this capability.
You're too kind Shabs19 - I assure you my skills are humble compared to those of many coders frequenting FF and elsewhere!

Fortunately, Build 600 introduced a lot of new functionality to play with
  • #12
  • Edited 2:42pm Sep 3, 2015 2:21pm | Edited 2:42pm
Hi honestknave. That's a terrific job done with that creation of yours So, Kudos my friend
& wondering if it was possible for you (as I know nothing about code etc) to give that beauty a great push forward to... awesomeness
I mean what if you'd add price alert flexible functions similar to ones of the MT4 build in (= via email, sound ..etc.)?
I think that after that add, your magnificent fibotool will easilly be the 1st price winner.
Either way thanks a lot mate... and do not be so modest.
Your tool even if it stays as is, imho is one of the very best I've seen so far.
And plz bare in mind that I have seen enough of them.
Thanks a million & My Congrats once more Cheers!
  • #13
  • Sep 4, 2015 3:25pm Sep 4, 2015 3:25pm
Brilliant.
Thanks for this.
  • #14
  • Edited 7:34am Oct 5, 2015 6:04am | Edited 7:34am
Hello everyone,
Is there anyone else facing the same problem with me today?
Does Fibtool2 still work fine to all of you guys?
What is the issue: I see all features parameters etc of the tool but nothing really works anymore .. neither dragging it manually nor presets nor nothing.
It looks like that might be something similar to the issue that fixed by honestknave on the csDash lately.
Any feedback is welcome ... honestknave do your thing and help me on this plz.
Cheers!

PS for plattform details <---> MT4_version:4.00_Build:890(25 Sep 2015).
  • #15
  • Oct 11, 2015 3:39am Oct 11, 2015 3:39am
Quoting pantelist
Hello everyone, Is there anyone else facing the same problem with me today? Does Fibtool2 still work fine to all of you guys? What is the issue: I see all features parameters etc of the tool but nothing really works anymore .. neither dragging it manually nor presets nor nothing. It looks like that might be something similar to the issue that fixed by honestknave on the csDash lately. Any feedback is welcome ... honestknave do your thing and help me on this plz. Cheers! PS for plattform details <---> MT4_version:4.00_Build:890(25 Sep 2015).
Hello pantelist,

Please see if the attached file for FibTool2 resolves your problem.

I'm now using FibTool3 which adds a row for fib expansions. Please feel free to play around with that too.

Attached File(s)
File Type: ex4 FibTool2.ex4   53 KB | 3,763 downloads
File Type: ex4 FibTool3.ex4   66 KB | 6,030 downloads
  • #16
  • Oct 11, 2015 6:44am Oct 11, 2015 6:44am
I've tried the fib 3 and I can't turn on the expansion fibs , they won't show up on the chart. I've checked the DLL box.
They are turned on but don't show on the chart.
what am I doing wrong?

Great tool other than this minor problem.
Ron
  • #17
  • Edited 3:08pm Oct 11, 2015 1:17pm | Edited 3:08pm
Quoting honestknave
{quote} Hello pantelist, Please see if the attached file for FibTool2 resolves your problem. I'm now using FibTool3 which adds a row for fib expansions. Please feel free to play around with that too. {file} {file}
Hi honestknave & very much obliged for all your help my friend.
Just tried the new ex4 version for Fibtool2 you've uploaded and by a quick glance it seems that it is working like a charm .. again
I will work closely with it in the coming days and if any "malfunction" occurs, I'll let you know.
I'll try also the FibTool3 but only to see if suits me better & not for its Fib expansion feature as I don't use this to my trading. I only need the Fibo Retracement feature and from it just a few levels (I am modifying some of yours manually & can be seen here https://charts.mql5.com/9/57/eurusd-...ri-limited.png). For me, as I've stated in the past, FibTool2 is one of the greatest MT4 tools out-there -at least in regard to the method I am using for my trading. The only feature I'd like to be there in addition is the ability for setting alerts near levels/prices & at a user's choice.

Again, thanks a million .. you're doing a great job helping others.

Greetings from Greece,
Best Regards,
Pantelis

Ps: The method I study & follow is very simple and at the same time a jaw dropper when it comes to what most people believe about the markets and price behavior. As I do not like to be criticized as an advertiser, anyone who would like to hear more on it can always feel free to drop me a message. Cheers!!
  • #18
  • Oct 11, 2015 2:36pm Oct 11, 2015 2:36pm
Thank you for this great tool, much appreciated!

Rapid
  • #19
  • Oct 11, 2015 2:48pm Oct 11, 2015 2:48pm
Excellent tool .i like it .Many many thanks for share it.i have lil request..is it possible to add +- X,Y to place fibo level/ratio move .i want see left side too....thanks in advance
Say something meaningful or Silence!!
  • #20
  • Oct 12, 2015 9:43am Oct 12, 2015 9:43am
Quoting rps1027
I've tried the fib 3 and I can't turn on the expansion fibs , they won't show up on the chart. I've checked the DLL box. They are turned on but don't show on the chart. what am I doing wrong? Great tool other than this minor problem. Ron
Hello rps1027 - I'm sorry that you are having problems using FibTool3.

To use the expansions, you will need to select your expansion levels and then select the expansion tool:

Attached Image


Attached Image (click to enlarge)
Click to Enlarge Name: example.png Size: 26 KB


If that isn't the problem, please try to post up some more details and hopefully we can get it working for you.

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