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Fibonacci Projection/Expansion Confluence Strategy Indicator?

#271
Hi All,

Can anyone here add an option to switch between drawing Fibonacci Retracement and Fibonacci Projection/Expansion or create a separate version of this indicator that draws Auto Fibonacci Projection/Expansion instead of Retracements? I really like the fibo retracement 1.01.mq4 and its on/off button version Fibo Retracement button 1.01.mq4 attached below so Fibonacci Projection/Expansion versions of these would be great. Otherwise, if there is already a similar indicator that can draw Fibonacci Projection/Expansions then can someone please point me to it since I couldn't find one. Thanks. Just so there is no confusion, the definitions of Fibonacci Retracement/Extension and Projection/Expansion are clearly shown in this image.

Types of Fibonacci - Retracement Extension Projection Expansion.png
Types of Fibonacci - Retracement/Extension & Projection/Expansion

Edit: I'm very interested in an auto Fibonacci Projection/Expansion version of this indicator because one of the strategies I use is in an up trending market, for a long trade, after retracement from the previous high, and after the price resumes in the direction of the up trend, I trade the break of that previous high with the 100% projection/expansion as the take profit target. I prefer to use the more conservative Fibonacci Projection instead of the Fibonacci Expansion as shown in the image above. So with a multi-timeframe auto Fibonacci Projection/Expansion version of the attached indicators, it would be very easy to see if the same type of break has occurred on other timeframes to support this trade bias as a Fibonacci Confluence of this setup. Of course the opposite will apply for a short trade after retracement then the break of the previous low. Try it for yourselves and you will see how consistent and profitable this strategy is. It's much like this Fibonacci Golden Zone Strategy: app.php/attach/file/3320411 except that you will be trading the break of the previous high for a buy trade instead of the retracement and vice versa for a sell trade. So I do hope someone can modify this indicator as an Auto MTF Fibonacci Projection/Expansion indicator. Thanks.

Image
mrtools wrote:
Wed Aug 22, 2018 9:24 am
Kyo wrote:
Wed Aug 22, 2018 3:32 am


Dear Mr Tools,

Are there any chances to add third fib to this great indicator?

At present it draws two fibs the actual and previous one, according to zig zag input.

Is it possible to add one more fib to draw, so what I think is the possibility to draw 3x fibs :the actual fib (first), previous fib (second) and fib previous to it (third - the new one).
When you using the indi on lower TF’s 5-15 zig zag redraws more often and three fibs will be optimal. I know you can extend the input in zig zag but the effect is not the same.

Thank You for your answer, work and time!!

All the best
Added another fibo.
fibo retracement 1.01.mq4
(18.97 KiB) Downloaded 45 times
Fibo Retracement button 1.01.mq4
(29.76 KiB) Downloaded 55 times


Re: Fibonacci, Trendlines, Support Resistance & Pivot Point Indicators MT4

#272
Released date: July 30th, 2020

jeanlouie said
You can now choose font size, font type (Arial etc) and font color for both support n resistance, they'll change eachother if the text switches from s to r.
[ORT] Supply_Demand_v3 nmc_font-edit.mq4
(49.1 KiB) Downloaded 48 times
font edits.png
To Reduce CPU and RAM usage -- MT4 > Tools > Options > Chart --->> Decrease "max bars in history" and "max bars in chart" (My setting is 5000)

Re: Fibonacci Projection/Expansion Confluence Strategy Indicator?

#274
global wrote:
Sun Jul 26, 2020 11:18 pm
Hi All,

Can anyone here add an option to switch between drawing Fibonacci Retracement and Fibonacci Projection/Expansion or create a separate version of this indicator that draws Auto Fibonacci Projection/Expansion instead of Retracements? I really like the fibo retracement 1.01.mq4 and its on/off button version Fibo Retracement button 1.01.mq4 attached below so Fibonacci Projection/Expansion versions of these would be great. Otherwise, if there is already a similar indicator that can draw Fibonacci Projection/Expansions then can someone please point me to it since I couldn't find one. Thanks. Just so there is no confusion, the definitions of Fibonacci Retracement/Extension and Projection/Expansion are clearly shown in this image.


Types of Fibonacci - Retracement Extension Projection Expansion.png

Types of Fibonacci - Retracement/Extension & Projection/Expansion

Edit: I'm very interested in an auto Fibonacci Projection/Expansion version of this indicator because one of the strategies I use is in an up trending market, for a long trade, after retracement from the previous high, and after the price resumes in the direction of the up trend, I trade the break of that previous high with the 100% projection/expansion as the take profit target. I prefer to use the more conservative Fibonacci Projection instead of the Fibonacci Expansion as shown in the image above. So with a multi-timeframe auto Fibonacci Projection/Expansion version of the attached indicators, it would be very easy to see if the same type of break has occurred on other timeframes to support this trade bias as a Fibonacci Confluence of this setup. Of course the opposite will apply for a short trade after retracement then the break of the previous low. Try it for yourselves and you will see how consistent and profitable this strategy is. It's much like this Fibonacci Golden Zone Strategy: app.php/attach/file/3320411 except that you will be trading the break of the previous high for a buy trade instead of the retracement and vice versa for a sell trade. So I do hope someone can modify this indicator as an Auto MTF Fibonacci Projection/Expansion indicator. Thanks.

Image
mrtools wrote:
Wed Aug 22, 2018 9:24 am


Added another fibo.
Get it retracement and expansion all in one indicator.
KISS Auto Fib.mq4
(3.91 KiB) Downloaded 49 times
Fibo.png


Re: Fibonacci, Trendlines, Support Resistance & Pivot Point Indicators MT4

#276
Sincere007 wrote:
Thu Aug 06, 2020 6:52 am
mrtools wrote:
Sat Jun 06, 2020 3:39 am


Did this but don't think this is what you are looking for.
hello all, can someone add few option to this indicator like "trendline unique id" so that I can add this indicator multiple times.
also line thickness option, popup alert and email alerts if you can, please.
Sorry that indicator is a decompiled version, would need the original source code.

Re: Fibonacci, Trendlines, Support Resistance & Pivot Point Indicators MT4

#278
mrtools wrote:
Wed Aug 22, 2018 9:24 am
Kyo wrote:
Wed Aug 22, 2018 3:32 am


Dear Mr Tools,

Are there any chances to add third fib to this great indicator?

At present it draws two fibs the actual and previous one, according to zig zag input.

Is it possible to add one more fib to draw, so what I think is the possibility to draw 3x fibs :the actual fib (first), previous fib (second) and fib previous to it (third - the new one).
When you using the indi on lower TF’s 5-15 zig zag redraws more often and three fibs will be optimal. I know you can extend the input in zig zag but the effect is not the same.

Thank You for your answer, work and time!!

All the best
Added another fibo.
hello mr. tools

ADDING FIBONACCI GOLDEN ZONES TO THIS INDICATOR WILL BE SOMETHING INTERESTING.
please consider doing that 🤗


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