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?
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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