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Fibo Levels in EA

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23
amando 2009.05.20 01:51
 

Hello


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?


kind regards


 
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4
sunpack 2009.05.20 02:20 #
 
amando wrote >>

Hello

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?

kind regards

Hello Amando,

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.)

example

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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