i'm looking for the possibillity to creatre an EA with FIBO Levels
this means as example
i have 1.4368 as high = 100%
and 1.3569 as low = 0%
how i can create the fibo level as example 127 or 161.8
is there a standard calculation in MQL4 or i must create it for myself?
How Not to Fall into Optimization Traps?
The article describes the methods of how to understand the tester optimization results better. It also gives some tips that help to avoid "harmful optimization".
I am also creating an EA using FIBO. I found that I had to manually apply the formula. To find your retracement levels on a uptrend use the following:
C = B — (B — A) x N
so to find C (your potential level to buy)
B - Your High
A - Your Low
N - Fib level (.382, .500, .618, etc.)
B - 121.40
A - 119.30
N - .382
C = 121.40 - (121.40 - 119.30) X .382
C = 121.40 - (2.1) X .382
C = 121.40 - 0.8022
C = 120.5978 (rounded 120.60)
So 120.60 would be your your 0.382 retracement.
Hope this helps.
Also check out this website - http://www.forexfibonacci.com/calculate_fibonacci_levels/04/
Finding the low fairly simple (since it has happened in the past) but to determine the correct high, a bit more challenging. My testing so far is close but now working on adding a bit more intelligence to pick the optimal high. If you have time let me know how you are planning to do this. :)
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