Multicolor Fibonacci Retracement Tool

I have this indie on 24 charts and it does not slow the system down.

Hi honestknave,

Nice tool. In my own private indicators, I've been using a similar technique with multi-objects for many years. I haven't seen anyone else do it until you. Some aspects did become a lot easier/better with the new 600+ features.

I've not used the new button objects yet. I wonder, are you able to use the new 600+ features to detect when a button object is changed? If so, you should trigger an update of the Fibo object(s) when the button is changed. When I selected/deselected the various button choices, nothing changed on the fib until I moved the fib.

Also, I don't have details, but when I added, for example, a 0 line, the first update described the 0 fib line as instead the same as an adjacent line, which for me was 23.6%. As I deleted or moved things around, it would clean up the labels to be correct, but there is some minor bug in your code which caused the wrong label. (v1.08 fibtool3.exe)

For my own projects, I'm looking for examples of code that mark pivot swings better than zigzag, something that takes into account the size of swings, even very brief but large swings (relative to nearby swings), rather than pure time-considerations alone. I like the semaphore approach that marks multiple-levels of pivots on one chart. (I'm modifying, for example, UniZigZagSemaphore_v4.mq4 that can be found with a Google search on another forum. Buggy and inefficient though, and pretty much time-based only. I've yet to incorporate swing size into it).

Furthermore, I'm looking for tips/examples how to auto-draw objects (e.g. Andrews Pitchfork) based on such pivots. With my limited time to code, I'm asking around. Thanks.

Pips4life (Kent)

greate tool

i have one thing i cant add more fibs.... to extention.....i need one more 0% 10.0% 127.2% 141.4% 161.8% those i use and cant have 100% line.....

Hi,am new here-tried to applied in the chart but lines were not showing but word FIB on the top right is showing not sure what went wrong.Kindly assist.Thanks

Hi Honest Knave,

Congratulations on your Fibonacci Tool.
I've been using it for a month now and I really don't know what I would do without it.
You are very clever. Thank you for the tool, it's the best I've ever seen.
Will you be renewing it in December?
I sure hope so as I'd be lost without it now.
Cheers,
Sidonz

Hi HonestKnave,

I saw a lot of Fibonacci Tools in the MQL-Market, but your tool is by far the best.
To use this tool without time limitation, I feel up to pay an according amount for this fantastic program.
Do you sell lifetime licenses ?

Kind Regards
Gowinda

Hi HonestKnave,

since today I am using your new FibTool3 v1.8, but something general must have changed in coding.

I have programmed an indicator, which will invert, Fibo 0% and Fibo 100% in case they were drawn wrongly.
If Level 0% is below and 100% is above, I start my Mirror-Indicator, by pushing the X-Button, and the level will be inverted,
that means Level 0% is then above and Level 100% is then below.
(by the way, this inversion could also be done manually, by by switching Value1 and Value2 in the Fibonacci Properties)

Version 1.06 is working properly with my existing indicator.
The new version 1.8 don't invert Fibo 0% and Fibo 100% any longer, by using my Mirror-indicator.

Any idea how comes ?

Regards
Gowinda

Hi Honestknave,

Best Fib tool ever!

I was trying to post a .set file for Fibtool3 but that type of file is not supported on FF for some reason.
I will attach a pic instead.

Here is an example of the tool and levels at work.

Hi honestknave, hope I find you well
This is a kind reminder about version 1.08 expiration in a few days from today.
Might be a bit soon for this but should you are not around for every day I thought it'd be good to leave you a note somewhat earlier.
Thanks & Take care

One Note FYI honestknave: An issue I forgot to mention in my previous post for I'd like to let you know about, in case you could fix it, is that whenever I change from one profile to another -and vice versa- all Fibonacci levels aren't there anymore. The only line remained visible for each and every one of them is the line connecting the High and Low anchors. What I do to overcome this is to double-click that line for every one of them, but only after selecting first a prefix key, i.e. "1" (this prefix I select it only once for every chart in the profile and then I double-click all of the Fibonacci traces are in). Otherwise, nothing changes. This is appearing the same to both black and white backgrounds. I've checked it also in a number of MT4 platforms and the "problem" was the same to all of them.
Thanks again, Cheers

Version: 1.09
Expiry: 30 June 2017

I'm glad some people are finding FibTool3 useful.

The future of MT4 is in doubt following some comments in the press and the removal of the MT4 installer from MetaQuotes website (the MT4 installer actually installs MT5).

With this in mind, I will not be developing MT4 projects any further. I have not yet decided whether I will migrate projects to the MT5 platform.

Nevertheless, I am releasing version 1.09 of FibTool3 with an expiry date for the middle of next year (otherwise unchanged from version 1.08).

Wishing a successful 2017 to all!

Hi honestknave; rather than I'd prefer you keep modifying FibTool3 for MT5 as well (after MT4 ending, for as it seems this will be the case eventually ) I want to thank you very much for this great development no matter what you decide to do next. To me was, still is, a great help & you are amongst the top of my list for the persons I appreciate the most
Many Many Thanks Again, May You Always Be Well & Wishing a Successful 2017 for You too

Thank you for your great Fibo Tools

Hi honestknave,

I really wish to thank you so much for renewing the expiry date of your Fibonacci Tool.
I can't tell you how useful it's been to me. I would be in a pickle without it.
Would appreciate if you would let us know if and when you go to MT5.
In the meantime it's a relief for me to know I'm good till end of June 2017.
Thanks again. All the best in your trading.
Have a great festive season.

Best wishes,

Sidonz

Hello honestknave; Lately, due to a potential ending of MT4 platform, next to MT5 I'm trying another one solution for this problem which is the cTrader platform (in my case, that one offered by Pepperstone). Therefore, I wonder if there would be a chance for us being that lucky should you be able to transfer this superb Fibonacci Tool of yours by coding it in cAlgo language; most of the traders I'm discussing with atm are seriously considering on moving themselves at cTrader platform when/if MT4 will be taken down. What would you say on that? Is there a chance? Thank you! My best wishes for the holiday season to you

Hi honestknave,
I really love your FibTool and use it all the time. The best of all Fibonacci drawing tools.
Due to the fact, that my written MIRROR-indicator is only working propperly with FibtTool 1.06 I would like to ask you,
if it's possible to get
Version 1.06
Expiry: 30 June 2017 ?

Would be great, if there's any chance to get it.
Happy X-Mas and Good Trades

Chris

Hi honestknave, Well wishes to you this holiday season!

I want to thank you for this wonderful tool.
Truly, there are things that are naked to the trader and un-discoverable without the use of this great tool!
It has made my analysis invaluably, accurate, more than i can share in a public forum.
It has completely, turned my trading around, since using it for the last 8 months.

I was wondering, if you would consider posting a version that does not have a time stamp expiry?

Doesn't hurt to ask... Thank you.

++++++++++++++++++++++++++++++++

Awesome HK. Thank You Very Much!

I've become accustom to the functionality of this tool.

One question: Once I've installed this on MT4, It seems I can no longer use standard MT4 fib indicator. I discovered that today, when FibTool no longer worked on fxcm. All I got was '0% line'. Is there anyway to change this in case the FibTool does not work?

Thanks,
Darryl

Hi Darryl, I have uploaded this video in which I explain how this can be corrected. General idea is to drag a fibo with FibTool3 anywhere in your chart. Then, right click on it selecting Fibo Properties from the options appeared. Afterward, you click Defaults in Fibo Levels tab. There you can decide what levels you need to work with by adding/deleting or altering the by default existed values (under Level column) and by using (under Description column) this general Formula 0.0%% | %$ (it's about what the information is going to be for each one of your levels - fibo percentage & price). i.e. for the 50% the description should be 50.0%% | %$ or for 61.8% it should be 61.8%% | %$ & so on. Also, under Common & Fibo Levels tabs you can choose what type of lines (colors, width etc.) you'd like to see when you're initially tracing a fibo. This all you have to do it only once and after that, all fibos you trace next will be presented under these settings. I hope that helps. Cheers Pantelis