Improvement in finding extremums in Fibo filters

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hadi hosseini
  • updated
  • Completed

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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Replies 13
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1
hadi hosseini
Quote from Andrey Khatimlianskyi

Thanks for your feedback!

I agree with you on 1 and 2 points:

- Fibo should be inverted,

 - And a new parameter should be added to allow signals only at the first crossing for each Fibo.

As for the 3rd points, in my opinion, it is over complicated and should be solved in another way.

Thank u in advance for the above mentioned 1 & 2 improvements. However, for the 3rd one, in my opinion, finding a proper solution is a major improvement to develop profitable Fibonacci-based strategies.

Anyway, It is better to move forward step by step. 

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2
Andrey Khatimlianskyi
Quote from hadi hosseini

Dear Andrey,

I apologize for replying to your message late.

I tested the new Fibo features using the attached set file in CP 2.54.6. The extremum detection with MACD phase change works perfectly. However I think some modifications are required:

  1. The Fibonacci levels in CP are drawn and considered reversely. I think it will be better to put the 100 level at the start point and the 0 level at the end point.
  2. When the price reaches the pre-determined level (e.g. 61.8%) for the first time in the calculated Fibo levels, a position will be opened and will be closed at the target. However, if the price goes back to the same level, the same position will be opened again. I think it will be better not to allow repeating trades to be opened as u said previously. The first time the price touches the level, that level for the calculated  set of Fibo levels will not be valid anymore unless one of the extremums are changed.
  3. A Valid/Not Valid flag can be defined for each fibo level considering the following criteria:

           - A Fibo level remains Valid when the price has not reach to that level on the retracement and the 0 and 100 levels of that Fibo is still unchanged.

In the present Fibo, when a new MACD phase change is detected, the previous Fibo levels are disappeared. However, they are still Valid levels if the above mentioned criteria are still true.

So there may be more than one set of active fibo levels at the same time for CP.

Attached u can find the tested set file as well as the applied back test setting file.

CP-2.54.6-XAUUSD-H1_Fibo01-only fibo for test.set

Backtest setting-CP-2.54.6-XAUUSD-H1_Fibo01....ini

Thanks for your feedback!

I agree with you on 1 and 2 points:

- Fibo should be inverted,

 - And a new parameter should be added to allow signals only at the first crossing for each Fibo.

As for the 3rd points, in my opinion, it is over complicated and should be solved in another way.

Avatar
2
hadi hosseini
Quote from Andrey Khatimlianskyi

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.

Dear Andrey,

I apologize for replying to your message late.

I tested the new Fibo features using the attached set file in CP 2.54.6. The extremum detection with MACD phase change works perfectly. However I think some modifications are required:

  1. The Fibonacci levels in CP are drawn and considered reversely. I think it will be better to put the 100 level at the start point and the 0 level at the end point.
  2. When the price reaches the pre-determined level (e.g. 61.8%) for the first time in the calculated Fibo levels, a position will be opened and will be closed at the target. However, if the price goes back to the same level, the same position will be opened again. I think it will be better not to allow repeating trades to be opened as u said previously. The first time the price touches the level, that level for the calculated  set of Fibo levels will not be valid anymore unless one of the extremums are changed.
  3. A Valid/Not Valid flag can be defined for each fibo level considering the following criteria:

           - A Fibo level remains Valid when the price has not reach to that level on the retracement and the 0 and 100 levels of that Fibo is still unchanged.

In the present Fibo, when a new MACD phase change is detected, the previous Fibo levels are disappeared. However, they are still Valid levels if the above mentioned criteria are still true.

So there may be more than one set of active fibo levels at the same time for CP.

Attached u can find the tested set file as well as the applied back test setting file.

CP-2.54.6-XAUUSD-H1_Fibo01-only fibo for test.set

Backtest setting-CP-2.54.6-XAUUSD-H1_Fibo01....ini

Avatar
1
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.

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0
Andrey Khatimlianskyi
  • Started
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2
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.

Avatar
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.

Avatar
0
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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2
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!

Avatar
0
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.