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Crossing back to the"The first Fibonacci support"


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Crossing back to the"The first Fibonacci support"

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fractal
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How can I write in easy language , a Long Exiting after crossing back "the first Fibonacci support" between the last higher high in 30 days and the lower low in the last 30 days or when we enter to the long.

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fractal View Post
How can I write in easy language , a Long Exiting after crossing back "the first Fibonacci support" between the last higher high in 30 days and the lower low in the last 30 days or when we enter to the long.

You need to define "first fibonacci support" in something tangible. Do you have an indicator which outputs this value?

Mike

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fractal
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Big Mike View Post
You need to define "first fibonacci support" in something tangible. Do you have an indicator which outputs this value?

Mike


{ a Long Exiting after crossing back into "The first Fibonacci support"
between the last higher high and the lower low or from the price we entered long if it was more than 3 month ago}

inputs: ValueLastLow (10),
ValueLasthigh (10),
Price( Low ),
ConsecutiveBarsDown( 4 ) ;


variables : DownPoint(0),
HighPoint(0),
First_Fibonacci(false);
{

if Price < Price[1] then
Value1 = Value1 + 1 { the pre-declared variable Value1 is used here as a
"counter" variable to count the number of consecutive down bars }
else
Value1 = 0 ;}

DownPoint = lowest(Close,ValueLastLow) ;
HighPoint = Highest(close,ValueLasthigh);

First_Fibonacci = c< (DownPoint +((1- 0.236)* (HighPoint - DownPoint))) ;

If Marketposition =1 and{Value1 >= ConsecutiveBarsDown and} First_Fibonacci then
begin

Sell ( "@First_Fibona" ) next bar at market ;
Alert( "AlertMessage" ) ;
end

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Last Updated on March 26, 2012


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