Trend Line Fibonacci V2
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Hello,
This V2 version of Trend Line Fibonacci is much better working than the V1.
The idea remains the same
The trend is calculated with the highest is the lowest of the 50 and 61 periods.
The area of intervention corresponds to the retracement of the highest reached on the trend at the level of 23.60% and is half between 50% and 23.60%.
the area of intervention is not used alone, this remains an indicator, but if the area corresponds to a level of fibonacci pivot point, then a rebound is possible
link from V1 : https://www.prorealcode.com/prorealtime-indicators/trend-line-fibonacci/
// //=/===============/=//=/===============/=//=/ Indicateur Trend Line // //=/ Heikin Ashi if barindex>1 then haclose=(open+close+low+high)/4 haopen=(haopen[1]+haclose[1])/2 xHigh = Max(haOpen, haClose) xLow = Min(haOpen, haClose) hahigh = Max(High,xHigh) halow = Min(Low,xLow) endif // //=/===============/=//=/===============/=//=/ Zone de Pivot // //=/ Pivot 23 P23 = (highest[23](hahigh)+lowest[23](halow)) /2 //=/ Pivot 38 P38 = (highest[38](hahigh)+lowest[38](halow)) /2 //=/ Pivot 50 P50 = (highest[50](hahigh)+lowest[50](halow)) /2 //=/ Pivot 23 P61 = (highest[61](hahigh)+lowest[61](halow)) /2 //=/ Pivot Majeur POptimal = (P23+P38+P50+P61)/4 // //=/===============/=//=/===============/=//=/ Zone Extreme // //=/ Extreme Haut if P23 => P38 and P23 => P50 and P23 => P61 then EHaut = P23 //=// elsif P38 => P23 and P38 => P50 and P38 => P61 then EHaut = P38 //=// elsif P50 => P23 and P50 => P38 and P50 => P61 then EHaut = P50 //=// elsif P61 => P23 and P61 => P38 and P61 => P50 then EHaut = P61 endif //=/ Extreme Bas if P23 =< P38 and P23 =< P50 and P23 =< P61 then EBas = P23 //=// elsif P38 =< P23 and P38 =< P50 and P38 =< P61 then EBas = P38 //=// elsif P50 =< P23 and P50 =< P38 and P50 =< P61 then EBas = P50 //=// elsif P61 =< P23 and P61 =< P38 and P61 =< P50 then EBas = P61 endif //=/ Point de Tendance if haclose > EHaut and haclose > EBas then PT = 1 //=// elsif haclose < EHaut and haclose < EBas then PT = -1 endif //=// if PT = 1 then PTendance = EBas //=// elsif PT = -1 then PTendance = EHaut endif // //=/===============/=//=/===============/=//=/ Zone d'Intervention // //=/ Decompte Haussier DH = 0 //=// if PT = 1 then DH = DH[1]+1 endif //=// 50% if PT = 1 then ZINT = ((highest[DH](high)+POptimal)/2) endif //=/ 38.20 if PT = 1 then Z38 = ZINT - 0.236 * (highest[DH](high)-POptimal) endif //=/ 23.60 if PT = 1 then Z23 = ZINT - 0.132 * (highest[DH](high)-POptimal) endif //=/ Decompte Baissier DB = 0 //=// if PT = -1 then DB = DB[1]+1 endif //=// 50 % if PT = -1 then ZINT = (POptimal+lowest[DB](low))/2 endif //=/ 38.20 if PT = -1 then Z38 = ZINT + 0.264 * (POptimal-lowest[DB](low)) endif //=/ 23.60 if PT = -1 then Z23 = ZINT + 0.132 * (POptimal-lowest[DB](low)) endif // //=/===============/=//=/===============/=//=/ Coloration des ligne // //=/ Ratio de 23 if PT = 1 then R = 0 G = 150 B = 255 T = 100 //=// elsif PT = -1 then R = 102 G = 102 B = 102 T = 100 endif return PTendance coloured(R,G,B,T) style (line,1) as "Tendance", POptimal coloured(R,G,B,255) style (line,2) as "Optimal", Z38 coloured(R,G,B,T) style (line,1) as "ZT1", Z23 coloured(R,G,B,T) style (line,1) as "ZT2"Razz, Maxime Baudin and Midlanddave thanked this postYou develop indicators and systems that 90% and more of the profession are not able to do! 🙂 So yes you are at least a bit!
In any case. your work is very interesting, I find that contrary to what I have seen for a few years here, your indicators and maybe system tend to be able to understand a little bit better the “Depth of the market”, which is less common here
I specifically liked your “Trend Line Fibonacci indicator” with a kind of background cloud of bullish and bearish trends protected by a cloud of “trend revival” or trend breakout in progress
For example in Timeframe 8 hours on EUR/USD, it is interesting to see how well prices react to your clouds, and that during a trend, such as the downtrend on EUR/USD, prices tend to announce the breakout of a cloud by scoring higher and higher lows, allowing you to tackle the underlying trend cloud.
This gives a lot of information that many indicators are not able to give. So thank you very much, really appreciated
Ichimoku Reading thanked this postHere’s what I wanted to do, I added a line drawing the 50%, more precise for me 🙂
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Topic Details
| Forum: | ProBuilder: Indicators & Custom Tools |
| Language: | English |
| Started: | 11/30/2020 |
| Status: | Active |
| Attachments: | 4 files |
