Fibonacci retracement filter

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Image 103

Image 104

I was thinking about a new strategy to implement in CP.Maybe also someone can give some advices on how to improve it.

So the strategy works like this. We will draw a trend line on higher time frame like h1.

Then we will go to lower timeframe like M5 and we will try to best catch retracements.


To best catch retracements we will use fibonacci retracements. I will post a picture so it will be more clear for everybody.

Another confirmation of entry that i use when i trade, is volume. When Price approaching Fibonacci line, and there is decreasing volume, is Good confirmation.

PS: I still need to try this strategy and find best way to use it.

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drago babnik

I'm working on a set for FIBO_GRID. The first beginnings are here. CP_MT5_EURUSD_FIBO_GRID

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john ital
hi Giulio,
i have been playing around with the new fibo settings in 2.17 but i haven't had much luck in getting a profitable strategy, have you had any luck?

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Andrey Khatimlianskyi
  • Completed

Done in 2.17

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Andrey Khatimlianskyi
  • Started

Started. Will be in the next update!

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Andrey Khatimlianskyi
  • Planned (collecting votes)

Ok, let's vote )

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giulio de meo

Ok 👍

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Andrey Khatimlianskyi
Quote from giulio de meo

I draw channels/trendline to get the trend. But actually we already have filters todetermine trend so no worries.

Just the Fibonacci should be ok to get a Good enter and ride the trend. (For sure better tan stochastic i think).

So, improvement will be the following:

  • Apply Fibo from Min[x bars] to High[x bars]
  • Allow BUY if price <= y% of fibo
  • Allow SELL if price >= y% of fibo

Correct?

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giulio de meo

I draw channels/trendline to get the trend. But actually we already have filters todetermine trend so no worries.

Just the Fibonacci should be ok to get a Good enter and ride the trend. (For sure better tan stochastic i think).

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Andrey Khatimlianskyi
Quote from giulio de meo

And?...

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giulio de meo