Improvement in finding extremums in Fibo filters

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Idea#1:

The two Fibo filters calculate Fibo levels based on the number of bars which is not precise enoungh.

There is a method to find proper High and Low to calculate and draw the Fibo levels between them in any time-frame based on MACD histogram phase change.

The algorithm is:

1. If the MACD histogram is positive (above the zero level), then find the maximum price during this condition and use it for the higher point.

2. If the MACD histogram is negetive (below the zero level), then find the minimum price during this condition and use it for the lower point.

3. If the number of MACD histogram bars are less than 3, then It's better not to consider it as a MACD phase change.

4. Draw the fibo from high to low while the MACD changes its phase from positive to negetive.

5. Draw the fibo from low to high while the MACD changes its phase from negetive to positive.

6. These levels can be changed during price movements and the levels should be re-calculated.

7. The calculated levels from this process are potential levels for openning small scalp positions.

Sample Fibo Levels

Idea#2

Another improvement in Fibo filters is  to let the user set multiple levels in each filter and let the EA open position on all of them. In other words, now in the Fibo filter, we can set only one fibo level (e.g. 61.8 or 38.2 or ...). It can be more helpful to let the user set multiple levels. 

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Andrey Khatimlianskyi
  • Under review

Idea #1 is clear and can be implemented.

As for Idea #2.

Now filter allows trades above/below the specified level. Do you want to allow entries on the levels crosses only?

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hadi hosseini

I want to allow entries as soon as the price reaches a pre-determined level in the pull back.
 

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Andrey Khatimlianskyi
Quote from hadi hosseini

I want to allow entries as soon as the price reaches a pre-determined level in the pull back.
 

It can be done with the filter as it is at the moment.

But how to use multiple levels (idea #2)?

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hadi hosseini
Quote from Andrey Khatimlianskyi

It can be done with the filter as it is at the moment.

But how to use multiple levels (idea #2)?

For Idea#2:

Suppose we set the level to 61.8. As soon as the price reaches this level, the position will be opened by the EA.

But I need to set more than one level. For example I want to open position in all these levels: 38.2, 50, 61.8, 78.6, .... Now I can set two levels with two fibo filters. but there are more than two levels. 

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Andrey Khatimlianskyi
  • Planned (collecting votes)
Quote from hadi hosseini

For Idea#2:

Suppose we set the level to 61.8. As soon as the price reaches this level, the position will be opened by the EA.

But I need to set more than one level. For example I want to open position in all these levels: 38.2, 50, 61.8, 78.6, .... Now I can set two levels with two fibo filters. but there are more than two levels. 

Ok, let's add "On level cross" mode for fibo filter.

You'll be able to activate several filters with different levels.

Summary:

1) Automatic Fibo placement based on MACD

2) "On level cross" mode for fibo filter

Let's vote!

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hadi hosseini
Quote from Andrey Khatimlianskyi

Ok, let's add "On level cross" mode for fibo filter.

You'll be able to activate several filters with different levels.

Summary:

1) Automatic Fibo placement based on MACD

2) "On level cross" mode for fibo filter

Let's vote!

Thank you very much.

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1
hadi hosseini

Dear Andrey,

Thank u very much for CP great improvements in the previous year.

Do u have any plan to implement the ideas of this suggestion, as it has been suggested and voted for about a year?

I think it can be so helpful for fibo level traders especially scalpers.

Kindly ask u to implement these ideas.

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Andrey Khatimlianskyi
Quote from hadi hosseini

Dear Andrey,

Thank u very much for CP great improvements in the previous year.

Do u have any plan to implement the ideas of this suggestion, as it has been suggested and voted for about a year?

I think it can be so helpful for fibo level traders especially scalpers.

Kindly ask u to implement these ideas.

Yes, I think that's voted enough :)

We need to implement better voting mechanics so we don't miss suggestions like this.

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Andrey Khatimlianskyi
  • Started
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Andrey Khatimlianskyi
  • Completed

Done in 2.53.3 - https://t.me/CommunityPowerNews/98

I decided not to add "on level cross" mode for now. If you need to filter out some repeating trades, please share your set with me, I'll try to fix it.