Voodoo lines (Fibgrid)

Voodoo lines (Fibgrid)

The Voodoo Lines uncover hidden levels of possible support and resistance which might not otherwise be visible until price starts reacting at the Lines. We call them Voodoo Lines because the underlying techniques are based on Fibonacci analysis and Elliott waves – dark arts to some. But don’t worry, you don’t need to need to know a thing about Elliott waves or Fibonacci levels to incorporate the power of the Voodoo into your trading; The Voodoo Lines do the work for you.

(description found on internet).

To calculate correctly the Voodoo lines for the current chart, the ELow and EHigh variables must be changed to the correct lowest low and highest high price considered (first lines of code). 3 different Fibonacci levels types can also be plotted.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Elsborgtrading • 04/29/2017 #

    Hi Swingforfortune, I just took a couple of tries on Fx pairs, and it’s way off. any ideas here?
    Cheers Kasper

    • Nicolas • 04/29/2017 #

      @Kasper, Just a stupid question, but did you set up the upper and lower levels correctly for the Elow and Ehigh variables?

  2. Swingforfortune • 04/29/2017 #

    As Nicolas says, you need to adjust/create one indicator for each chart unfortunately.
    For other platforms you can add a call function that gets the parameters for each chart so that it adjust the parameters automatically when you change the chart.
    Have not found that that is available yet with PRT.
     
     

  3. Swingforfortune • 04/29/2017 #

    I usually use it on Index and individual stocks. I don’t have experience using it on forex.
    Parameters ehigh and elow is best found on weekly charts. Look for Elliot wave “1” after a bigger decline to find the values.

    • sbchport • 04/29/2017 #

      Brilliant work SwingforFortune. Thank you! I’m not brilliant on EWT so unsure if I’d map the correct EHigh/ELow for W1. I trade FTSE/DAX/DOW/NAS so if you have an image example you could share I’d be very grateful.

  4. Elsborgtrading • 04/29/2017 #

    ahh ofcause guys. Thanks 🙂
    Cheers Kasper

  5. pabotelho • 04/29/2017 #

    Is this code for Think or Swim?

    • Nicolas • 04/29/2017 #

      No, all codes on our website are for prorealtime trading platform.

  6. apmp88@yahoo.co.uk • 04/29/2017 #

    These voodoo lines are only for the upside? What about the downside lines?

  7. Eloi • 04/29/2017 #

    J’ai modifié les ratio. ça fonctionne beaucoup mieux.
    Qu’en pensez-vous ?

  8. Eloi • 04/29/2017 #

    once ELow = 10170
    once EHigh = 13600.7
    // Number of levels 1-3
    levels = 3

    // Fire lines
    if levels >= 1 then
    once F1 = Elow
    once F2 = Ehigh
    once F3= (Ehigh-Elow)*0.5625 + Ehigh
    once F4 = (Ehigh-Elow)*1.125 + Ehigh
    once F5 = (Ehigh-Elow)*2.25 + Ehigh
    endif

    //Three lines
    if levels >= 2 then
    once T1 = F1 + (F2-F1)*0.28125
    once T2 = F1 + (F2-F1)*0.5625
    once T3 = F2 + (F3-F2)*0.28125
    once T4 = F2 + (F3-F2)*0.5625
    once T5 = F3 + (F4-F3)*0.28125
    once T6 = F3 + (F4-F3)*0.5625
    once T7 = F4 + (F5-F4)*0.28125
    once T8 = F4 + (F5-F4)*0.5625
    endif

    //Snow lines
    if levels >= 3 then
    once S1 = F1 + (T1-F1)*0.28125
    once S2 = F1 + (T1-F1)*0.5625
    once S3 = T1 + (T2-T1)*0.28125
    once S4 = T1 + (T2-T1)*0.5625
    once S5 = T2 + (F2-T2)*0.28125
    once S6 = T2 + (F2-T2)*0.5625
    once S7 = F2 + (T3-F2)*0.28125
    once S8 = F2 + (T3-F2)*0.5625
    once S9 = T3 + (T4-T3)*0.28125
    once S10 = T3 + (T4-T3)*0.5625
    once S11 = T4 + (F3-T4)*0.28125
    once S12 = T4 + (F3-T4)*0.5625
    once S13 = F3 + (T5-F3)*0.28125
    once S14 = F3 + (T5-F3)*0.5625
    once S15 = T5 + (T6-T5)*0.28125
    once S16 = T5 + (T6-T5)*0.5625
    once S17 = T6 + (F4-T6)*0.28125
    once S18 = T6 + (F4-T6)*0.5625
    once S19 = F4 + (T7-F4)*0.28125
    once S20 = F4 + (T7-F4)*0.5625
    once S21 = T7 + (T8-T7)*0.28125
    once S22 = T7 + (T8-T7)*0.5625
    once S23 = T8 + (F5-T8)*0.28125
    once S24 = T8 + (F5-T8)*0.5625
    endif

    //Return lines
    Return F1 Coloured(255,0,0) AS “F1”,F2 Coloured(255,0,0) AS “F2”,F3 Coloured(255,0,0) AS “F3”,F4 Coloured(255,0,0) AS “F4”,F5 Coloured(255,0,0) AS “F5”, T1 Coloured(0,255,0) AS “T1”, T2 Coloured(0,255,0) AS “T2”, T3 Coloured(0,255,0) AS “T3”, T4 Coloured(0,255,0) AS “T4”, T5 Coloured(0,255,0) AS “T5”, T6 Coloured(0,255,0) AS “T6”, T7 Coloured(0,255,0) AS “T7”, T8 Coloured(0,255,0) AS “T8”, S1, S2, S3,S4,S5,S6,S7,S8,S9,S10,S11,S12,S13,S14,S15,S16, S17, S18, S19, S20, S21, S22, S23, S24

  9. Eloi • 04/29/2017 #

    Le résultat en image sur le DAX

  10. Eloi • 04/29/2017 #

    https://www.dropbox.com/s/zsccv3oas8cwx9h/DAX-Journalier.png?dl=0

  11. Eloi • 04/29/2017 #

    Un autre exemple sur le bitcoin
    https://www.dropbox.com/s/adyq26tl3g40g7q/XBTUSD-Journalier.png?dl=0

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