Improvement in finding extremums in Fibo filters

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.