Fibonacci miracle trading tool

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Индикатор форекс Fibonacci Miracle Профессиональный

Индикатор FIBONACCI MIRACLE – это профессиональный инструмент, который готов прийти на помощь своему трейдеру. С помощью данной программы, вы сможете с легкостью узнать направление тренда, без особых знаний, вам для этого даже не придется изучать кучу литературы. Индикатор работает по технике Фибоначчи, показывает уровни поддержки и сопротивления. В архиве находится сам индикатор и есть готовый шаблон.

Fibonacci tools

Fibonacci tools are constantly used by Forex traders. To apply them to your charts in MetaTrader, you need to click “Insert” button of the menu and then choose “Fibonacci”. You can find several Fibonacci tools in your trading terminal: retracement, expansion, fan, arcs and time zones. All of these tools are based on Fibo ratios.

Let’s study the logic behind the Fibonacci instruments.

In the 13th century, mathematician Leonardo Fibonacci researched a series of numbers (0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, etc.). Every number in this sequence is the sum of the two preceding ones. It turned out that the ratios of these numbers correspond to the natural proportions of the things in the universe. For example, tree branches form or split in line with Fibo numbers, seed pods on a pinecone are arranged in a Fibonacci spiral pattern, etc.

Financial markets are no exception: different movements of the market are often consistent with Fibonacci ratios as well.

Fibonacci sequence has some constant ratios. The most important Fibo ratios are:

– 161.8%, the “golden ratio” (the ratio between any number of the sequence and the preceding one, ex.: 89/55 = 1.618).

– 61.8% (the ratio between any number of the sequence and the following one, ex.: 55/89 = 0.618).

– 38.2% (the ratio derived from skipping 1 sequence in division e.g. 55/144 = 0.382).

Among the Fibonacci tools, we have mentioned the most useful for traders are Fibo retracement levels and Fibo expansions, but fan, arcs and time zones and also be quite helpful.

Fibonacci ratios also play an important part in the Elliott wave theory and harmonic patterns.

Multicolor Fibonacci Retracement Tool

Update: Latest version 1.13

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I’ve had a few requests to share my multicolor fibonacci retracement tool which I use in my personal trading.
All this tool does is give you more control over the appearance of your fibonacci objects. It doesn’t automatically draw them for you or anything like that.

You will need to add FibTool2.ex4 into your Indicators folders. You add it to your chart and leave it there like any other indicator.

In the options, you can specify different colors, widths and styles for up to 10 different levels:

You can also decide if you want the price to be displayed.

Once the indicator is added, you will see a small toggle button to open the control panel:

Your 10 preset levels will appear in the control panel. Clicking will turn each one on/off.

Whatever you set in the control panel will take effect on the next fib you create or move.

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  • Jul 2, 2020 9:14am Jul 2, 2020 9:14am
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  • Jul 2, 2020 9:23am Jul 2, 2020 9:23am

Thank you honestknave, for sharing fibonacci retracement it is really a great contribution and great tool.

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  • Jul 3, 2020 3:10am Jul 3, 2020 3:10am

This is actually a component of a larger toolbox I use in my own trading. As such, 10 is ample for my needs and the space that 10 takes up is rather integral to my toolbox design.

If this release proves stable, then I can release a second version with more levels. However, I don’t want to find myself having to support 2 versions (the 10 level version that I need for my trading and another version with more levels).

Let’s give it some time and make sure it proves stable first.

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  • Jul 3, 2020 3:10am Jul 3, 2020 3:10am
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  • Edited at 8:16am Jul 6, 2020 7:59am | Edited at 8:16am

An enhancement to FibTool2 (version 1.01):

You can now use 3 different preset selections:

Each preset is a list of the fibs you want activated, using a comma between each:

Simply..
Press 1 on your keyboard to select Preset 1
Press 2 on your keyboard to select Preset 2
Press 3 on your keyboard to select Preset 3

As an additional function, if you.
1. Allow DLL imports:

2. Enable Autoselect Fib Tool

Your cursor will automatically change to the fibonacci retracement tool when you press 1, 2 or 3:

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  • Jul 6, 2020 8:54am Jul 6, 2020 8:54am
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  • Jul 7, 2020 9:37am Jul 7, 2020 9:37am
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  • Jul 7, 2020 11:41am Jul 7, 2020 11:41am
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  • Jul 7, 2020 12:06pm Jul 7, 2020 12:06pm

You’re too kind Shabs19 – I assure you my skills are humble compared to those of many coders frequenting FF and elsewhere!

Fortunately, Build 600 introduced a lot of new functionality to play with

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  • Edited at 3:42pm Sep 3, 2020 3:21pm | Edited at 3:42pm
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  • Sep 4, 2020 4:25pm Sep 4, 2020 4:25pm
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  • Edited at 8:34am Oct 5, 2020 7:04am | Edited at 8:34am

Hello everyone,
Is there anyone else facing the same problem with me today?
Does Fibtool2 still work fine to all of you guys?
What is the issue: I see all features parameters etc of the tool but nothing really works anymore .. neither dragging it manually nor presets nor nothing.
It looks like that might be something similar to the issue that fixed by honestknave on the csDash lately.
Any feedback is welcome . honestknave do your thing and help me on this plz.
Cheers!

PS for plattform details MT4_version:4.00_Build:890(25 Sep 2020).

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  • Oct 11, 2020 4:39am Oct 11, 2020 4:39am

Please see if the attached file for FibTool2 resolves your problem.

I’m now using FibTool3 which adds a row for fib expansions. Please feel free to play around with that too.

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  • Oct 11, 2020 7:44am Oct 11, 2020 7:44am

I’ve tried the fib 3 and I can’t turn on the expansion fibs , they won’t show up on the chart. I’ve checked the DLL box.
They are turned on but don’t show on the chart.
what am I doing wrong?

Great tool other than this minor problem.
Ron

  • Post # 17
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  • Edited at 4:08pm Oct 11, 2020 2:17pm | Edited at 4:08pm

Hi honestknave & very much obliged for all your help my friend.
Just tried the new ex4 version for Fibtool2 you’ve uploaded and by a quick glance it seems that it is working like a charm .. again
I will work closely with it in the coming days and if any “malfunction” occurs, I’ll let you know.
I’ll try also the FibTool3 but only to see if suits me better & not for its Fib expansion feature as I don’t use this to my trading. I only need the Fibo Retracement feature and from it just a few levels (I am modifying some of yours manually & can be seen here https://charts.mql5.com/9/57/eurusd-. ri-limited.png). For me, as I’ve stated in the past, FibTool2 is one of the greatest MT4 tools out-there -at least in regard to the method I am using for my trading. The only feature I’d like to be there in addition is the ability for setting alerts near levels/prices & at a user’s choice.

Again, thanks a million .. you’re doing a great job helping others.

Greetings from Greece,
Best Regards,
Pantelis

Ps: The method I study & follow is very simple and at the same time a jaw dropper when it comes to what most people believe about the markets and price behavior. As I do not like to be criticized as an advertiser, anyone who would like to hear more on it can always feel free to drop me a message. Cheers!!

Fibonacci Retracement Tool

Fibonacci Retracement Tool

The Fibonacci R etracement Tool

Fibonacci retracement is the most widely used technical analysis tool based on Fibonacci ratios. The Fibonacci retracement can be used when trading any financial market (Forex, Equities, Bonds or Commodities) in any timeframe. Preferably use the Fibonacci retracement only when trading liquid assets and apply it in timeframes longer than M30.

Short Explanation (Background) of the Fibonacci Retracement

As the price of a financial asset pulls back after an uptrend or a downtrend wave, that price pullback usually follows a certain mathematical relationship. The Fibonacci retracement calculates this relationship based on the Fibonacci ratios. The Fibonacci retracement uses the basic ratios (23.6%, 38.2%, 61.8%, and 78.6%) deriving from the Fibonacci’s sequence of numbers, plus 50.0% .

The Key Fibonacci Ratios

Here is how the Fibonacci ratios are calculated:

The Fibonacci ratio of 61.8% is considered a key level as it represents the ‘ golden ratio” or else the “golden mean”. The 61.8% ratio can be found by dividing one Fibonacci number by the next Fibonacci number. For example: 144/233 = 0.61 8027 .

The Fibonacci ratio of 38.2% ratio is the second most important ratio and can be found by dividing one Fibonacci number by the Fibonacci number two places to the right. For example: 144/ 377 = 0.3819 6 .

The Fibonacci ratio of 23.6 % ratio is the third most important ratio and can be found by dividing one Fibonacci number by the Fibonacci number three places to the right. For example: 144/610 = 0.23606 .

The Fibonacci ratio of 78.6% is the result of subtracting 0.236 from 1.

How the Fibonacci Retracement Works

The Fibonacci retracement is applied b y taking two extreme levels in a price chart. These levels are the peak and the bottom of a price move, that can be an uptrend or downtrend move

As it was mentioned before, t he key Fibonacci ratios are 23.6%, 38.2%, and 61.8%. The Fibonacci retracement uses these three ratios plus the 50.0% and 78.6% ratios. That means 5 ratios in total: 23.6%, 38.2%, 50 .0%, 61.8% and 78.6% . When the Fibonacci retracement tool is applied, t hese levels are visualized as horizontal lines between the peak and the bottom. These 5 horizontal lines represent possible support and resistance levels.

T hese ratios can be used for the identification of critical points that can cause reversals in the price of financial assets. It is important to mention that these Fibonacci retracement levels should be seen as Support & Resistance areas and not as hard support and resistance price levels.

For an uptrend, put the 0.0 level of the retracement tool at the wave low and the 100.0 level at the wave high.

For a downtrend, put the 100.0 level of the retracement tool at the high of the wave and the 0.0 level at the bottom.

If the price falls through one Fibonacci level it will likely proceed to the next Fibonacci level.

The following chart illustrates how traders can apply the Fibonacci retracement to identify possible support and resistance levels after an uptrend .

Chart : Using the Fibonacci retracement on EURUSD

Distinguishing Strong and Moderate Trends

If you trade a strong trend, then you should expect pullbacks to the Fibonacci levels 23.6% and 38.2%. In normal trends, you should expect pullbacks to 50.0% or most commonly to 61.8% levels.

In general, give extra weight to 38.2% and 61.8% retracement levels.

Placing Stop-Loss orders

One of the key advantages when trading using the Fibonacci retracement is that you can identify the optimal stop-loss levels at a glance. After the price has reversed close to a Fibonacci level, place a stop-loss below the local low or above the local high.

Fibonacci Retracement tool in Trading Platforms

The Fibonacci r etracement tool is available in all modern trading platforms and can be applied with a few clicks. To apply the Fibonacci Retracement tool in MetaTrader:

Go to Menu >Insert >Fibonacci>Retracement

Basic Tips when Using The Fibonacci Retracement Tool

(1) Ignore the Fibonacci retracement during important news releases or after key fundamental changes.

(2) Prefer to apply the Fibonacci retracement on highly liquid financial assets (Forex majors, major indices, etc).

(3) Apply the Fibonacci retracement in timeframes above M30. Preferably use the H4 and D1 timeframes.

(4) The levels generated by the Fibonacci retracement should be seen as general Support & Resistance areas and not as hard support and resistance price levels.

(5) It is better to wait until a price reversal is already occurred close to a Fibonacci level, before opening a position.

(6) Give extra weight to 38.2% and 61.8% levels, these two Fibonacci levels are the most important retracement levels.

(7) Yo u can apply multiple Fibonacci r etracement s on different waves and timeframes (one does not cancel the other) .

(8) Finally, it is better to confirm any signal generated by the Fibonacci retracement with another tool. For example, you can apply the MACD in its standard settings. Use MACD above the M30 timeframe, preferably in H1 and H4 timeframes.

Conclusions Using the Fibonacci Retracement Tool

If you ask an experienced trader to tell you his opinion about the Fibonacci retracement, he will tell you either that it rocks or it is useless. Remember the truth is found always in the middle of two extreme opinions. The Fibonacci retracement is useful given that it will be applied selectively and carefully. Select to apply it on liquid assets, select to apply it on long timeframes and confirm its results with a reliable indicator. That is all you have to do!

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