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Anyone knows about Voodoo Lines from Simpler Trading?
I came across Voodoo Lines on the SimplerTrading HP, and I´m not sure if it really worth $ 1000 or just a gimmick? If someone uses it or has used it, would be great to read your opinion on it. Thank you
Can you help answer these questions from other members on NexusFi?
"The Voodoo Lines uncover hidden levels of possible support and resistance which might not otherwise be visible until price starts reacting at the Lines. We call them Voodoo Lines because the underlying techniques are based on Fibonacci analysis and Elliott waves – dark arts to some. But don’t worry, you don’t need to need to know a thing about Elliott waves or Fibonacci levels to incorporate the power of the Voodoo into your trading; The Voodoo Lines do the work for you. "
All this for $997 up front, and only $47/month afterwards? Man... we need to get into the indicator business @Grantx
Seriously, sounds a bit pricey for a tool that is included in most charting software (fibonacci.)
I couldn't help but chime in. Sorry I didn't have anything more noteworthy to offer @toughtrades
with this much lines, you should get many hits, the good news you can calculate them yourself
once ELow = 666.4
once EHigh = 1220.1
// Number of levels 1-3
levels = 3
// Fire lines
if levels >= 1 then
once F1 = Elow
once F2 = Ehigh
once F3= (Ehigh-Elow)*0.618 + Ehigh
once F4 = (Ehigh-Elow)*1.618 + Ehigh
once F5 = (Ehigh-Elow)*3.236 + Ehigh
endif
//Three lines
if levels >= 2 then
once T1 = F1 + (F2-F1)*0.382
once T2 = F1 + (F2-F1)*0.618
once T3 = F2 + (F3-F2)*0.382
once T4 = F2 + (F3-F2)*0.618
once T5 = F3 + (F4-F3)*0.382
once T6 = F3 + (F4-F3)*0.618
once T7 = F4 + (F5-F4)*0.382
once T8 = F4 + (F5-F4)*0.618
endif
//Snow lines
if levels >= 3 then
once S1 = F1 + (T1-F1)*0.382
once S2 = F1 + (T1-F1)*0.618
once S3 = T1 + (T2-T1)*0.382
once S4 = T1 + (T2-T1)*0.618
once S5 = T2 + (F2-T2)*0.382
once S6 = T2 + (F2-T2)*0.618
once S7 = F2 + (T3-F2)*0.382
once S8 = F2 + (T3-F2)*0.618
once S9 = T3 + (T4-T3)*0.382
once S10 = T3 + (T4-T3)*0.618
once S11 = T4 + (F3-T4)*0.382
once S12 = T4 + (F3-T4)*0.618
once S13 = F3 + (T5-F3)*0.382
once S14 = F3 + (T5-F3)*0.618
once S15 = T5 + (T6-T5)*0.382
once S16 = T5 + (T6-T5)*0.618
once S17 = T6 + (F4-T6)*0.382
once S18 = T6 + (F4-T6)*0.618
once S19 = F4 + (T7-F4)*0.382
once S20 = F4 + (T7-F4)*0.618
once S21 = T7 + (T8-T7)*0.382
once S22 = T7 + (T8-T7)*0.618
once S23 = T8 + (F5-T8)*0.382
once S24 = T8 + (F5-T8)*0.618
endif
Thank you , this is the Calculation for the whole Lines. So this I use for example in NT8 ? Can you tell me how to do it. Or where I can read up on it how to implant it? Thank you for your help
I'm just trying to confuse everybody else...that's my edge
There is a cool symmetry to it...it might even work but I haven't really had the time to try it. The good news is you don't need to program anything. Just use the standard fib retracement tool...like a crayon.
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OK... for the micro scalpers and HTF guys, we shall put fibs inside of fibs... AND (wait for it!)... FIBS inside of FIBS inside of FIBS ad effing infinitum! Hey man, the markets are fractal in nature... lol...