Fibonacci speed and resistance-how to use this

ford7k · May 29, 2013

HI experts

Can somebody give some hints and images on how to apply this unique fibonacci code by Abdul kareem.
what setting to be used for zoom, beginbar, endbar,other setting options!
the color combination is a bit difficult.
what settings are needed for zoom,beginbar,endbar and other parameters-please help
regards
ford

HTML:

 //-Fibonacci retracements, Fan, Time Zones and Time Extensions.
//- Speed resistance
//Formula:

_SECTION_BEGIN("Fibonacci Calculations & Speed Resistance");
///////////////////////////////////////////////////////////////////////////
// ABDULKAREEM ALGHAMDI - JAN2012
// Fibonacci Retracements, Fan, Time extension and time zones
// Speed Resistance
///////////////////////////////////////////////////////////////////////////
//Parameters
///////////////////////////////////////////////////////////////////////////
GraphXSpace = Param("Zoom",2,1);
begin = Param("Begin Bar",0, 0, 2000);
end = Param("End Bar",0, 0, 2000);
FibRetr = ParamToggle("Fibonacci Retr./Resistance","No|Yes", 1);
ShowFibExt = ParamToggle("Show Fib Retr. Extensions", "No|Yes");
SpeedRes = ParamToggle("Show Speed Resistance","No|Yes");
FibExt= ParamToggle("Show Fibonacci Extension","No|Yes");
FibTime= ParamToggle("Show Fibonacci Time Zones","No|Yes");
///////////////////////////////////////////////////////////////////////////
//Calculations
///////////////////////////////////////////////////////////////////////////
up = LastValue(Ref(H, -begin)) > LastValue(Ref(L, -end))==0;
BeginXPoint = BarCount-1-begin;
EndXPoint = BarCount-1-end;
LVLine = LastValue(BarIndex());
VLine = BarIndex();

FibNumbers[0] = 0;
FibNumbers[1] = 0.236;
FibNumbers[2] = 0.382;
FibNumbers[3] = 0.5;
FibNumbers[4] = 0.618;
FibNumbers[5] = 0.764;
FibNumbers[6] = 1;
FibNumbers[7] = 1.27;
FibNumbers[8] = 1.618;
FibNumbers[9] = 2;
FibNumbers[10] = 2.24;
FibNumbers[11] = 2.618;
FibNumbers[12] = 3.14;

if(up)
{
	BeginYPoint = LastValue(Ref(L, -begin));
	EndYPoint = LastValue(Ref(H, -end));
}
else
{
	BeginYPoint =LastValue( Ref(H, -begin));
	EndYPoint = LastValue(Ref(L, -end));
}
Range= (BeginYPoint-EndYPoint);
///////////////////////////////////////////////////////////////////////////
// Plotting 
///////////////////////////////////////////////////////////////////////////

Plot(C, "", IIf(C > O, colorGreen, colorRed), styleBar);

if (begin > End)

{
	if(FibRetr)//Fibonacci Retracements
	{
		for(i=0; i<IIf(ShowFibExt, 12, 7); i++)
		{
			Plot(LineArray(BeginXPoint, EndYpoint+Range*FibNumbers[i], EndXPoint,
EndYpoint+Range*FibNumbers[i],1),"", colorBrightGreen,  styleDashed);
			Plot(LineArray(BeginXPoint, BeginYPoint , EndXPoint,
EndYpoint+Range*FibNumbers[i]),"", colorBrightGreen, 
styleDashed|styleNoLabel);
			Plot(LineArray(EndXPoint, EndYpoint+Range*FibNumbers[i], BarCount-1,
BeginYPoint ),"", colorBrightGreen,  styleDashed|styleNoLabel);
			PlotText(StrFormat("%.1f%%", FibNumbers[i]*100), beginxpoint,
EndYPoint+Range*FibNumbers[i], colorBlack, 5);
		}
	}
	if(SpeedRes)//Speed Resistance
	{
		//From Begin to End
 		Plot(LineArray(BeginXPoint, BeginYPoint, EndXPoint, EndYPoint), "",
colorBrightGreen, styleDashed|styleNoLabel);
		Plot(LineArray(BeginXPoint, BeginYPoint, EndXPoint, BeginYPoint-Range*.333),
"", colorBrightGreen, styleDashed|styleNoLabel);
		Plot(LineArray(BeginXPoint, BeginYPoint, EndXPoint, BeginYPoint-Range*.666),
"", colorBrightGreen, styleDashed|styleNoLabel);
		// From End to barcount - 1
		Plot(LineArray(EndXPoint, EndYPoint, BarCount-1, BeginYPoint), "",
colorBrightGreen, styleDashed|styleNoLabel);
		Plot(LineArray(EndXPoint, BeginYPoint-Range*.333, BarCount-1, BeginYPoint),
"", colorBrightGreen, styleDashed|styleNoLabel);
		Plot(LineArray(EndXPoint, BeginYPoint-Range*.666, BarCount-1, BeginYPoint),
"", colorBrightGreen, styleDashed|styleNoLabel);
		// Horizontal Lines
		Plot(LineArray(BeginXPoint, BeginYPoint, EndXPoint , BeginYPoint, 1), "",
colorBrightGreen, styleDashed);
		Plot(LineArray(BeginXPoint, BeginYPoint-Range*.333, EndXPoint ,
BeginYPoint-Range*.333, 1), "", colorBrightGreen, styleDashed);
		Plot(LineArray(BeginXPoint, BeginYPoint-Range*.666, EndXPoint ,
BeginYPoint-Range*.666, 1), "", colorBrightGreen, styleDashed);
		Plot(LineArray(BeginXPoint, EndYPoint , EndXPoint , EndYPoint , 1), "",
colorBrightGreen, styleDashed);
		// 
		PlotText(StrFormat("%.2f", BeginYPoint), BarCount-1-begin, BeginYPoint,
colorBlack, 5);
		PlotText("0.333%", BarCount-1-begin, BeginYPoint-Range*.333, colorBlack, 5);
		PlotText("0.666%", BarCount-1-begin, BeginYPoint-Range*.666, colorBlack, 5);
		PlotText(StrFormat("%.2f", EndYPoint), BeginXPoint, EndYPoint, colorBlack,
5);		
	}
}

if(FibExt)//Fibonacci time extensions
{
	Plot((Line=VLine == LVLine -begin),"", colorBrightGreen, styleHistogram|
styleOwnScale|styleNoLabel);
	Plot((Line=VLine  == LVLine  -end) ,"", colorBrightGreen, styleHistogram|
styleOwnScale|styleNoLabel);

	for(i=0; i<10; i++)
	{
		Plot((Line=VLine == LVLine  -end + int((begin -end+1)*FibNumbers[i])) ,"",
colorBrightGreen, styleHistogram| styleOwnScale|styleNoLabel|styleDashed);
		PlotText(StrFormat("%.1f%%", FibNumbers[i]*100), BarCount-end+int((begin
-end+1)*FibNumbers[i]), HighestVisibleValue(H), colorBlack, 5);
	}
}

if(FibTime)//Fibonacci time zones
{
	k=1;
	j = 2;

	for(i = 1;i<=20;i++)
	{	
		Plot((Line=VLine == LVLine -(begin-k+1)),"", colorBrightGreen,
styleHistogram| styleOwnScale|styleNoLabel);
		PlotText(StrFormat("%.0f", j-k), BarCount-begin+k-2,
HighestVisibleValue(H),colorBlack, 5);
		j = j+k;
		k = j-k;
	}
}

Title = FullName()+" , "+Date()+", O="+O+", H="+H+", L="+L+", C="+C+",   Bars
To End:"+(BarCount - 1 - BarIndex());
_SECTION_END();

mastermind007 · May 29, 2013

ford7k said:

Amazing!!! Where did you find this?

I experimented by setting BeginBar to nearest low and End bar to nearest high and it plotted angles. These numbers are relative to the latest bar. Scrip is MARUTI. EOD data. My last available date is 27/may. So for end bar, I've kept 5 (effectively 20 may) and beginbar is 36 (effectively 2 apr)

You are right about color combination, but it easy to solve. First do a global search replace to change word "Green" to "Red". Next change from BrightRed ... to DarkRed :clap:

You will see many dashed lines ... Horizontal lines are easy to understand.

mastermind007 · May 29, 2013

ford7k said:

Amazing!!! Where did you find this?

I experimented by setting BeginBar to nearest low and End bar to nearest high and it plotted something. These numbers are relative to the latest bar. Scrip is MARUTI. EOD data. My last available date is 27/may. So for end bar, I've kept 5 (effectively 20 may) and beginbar is 36 (effectively 2 apr)

You are right about color combination, but its easy to solve. First do a global search replace to change word "Green" to "Red". Next do a global search replace to change "BrightRed" to "DarkRed" :clap: I also changed from Bar to Candle but Bar does seem better in this case.

You will see many dashed lines ... Horizontal lines are easy to understand.

Zoom controls how close you are. Lower the number, closer you are.

You cannot set BeginBar to a Candle that made High otherwise afl does not work.

Finally my parameters are 2, 36, 5, Yes, No, No, No, Yes

MY guess is that using this you can plot future fibonacci's manually.

ford7k · May 29, 2013

Hi mastermind

Thanks a lot.Really prompt indeed!
I found this in a random google search.
I was searching for mechanical set & forget entry exit levels for currencies.
The clue I had in mind was
buy stop entry @50%level,target @20 pips above for long,stoploss @20 pips below entry
sell stop entry @24%,target @20 pips below,stoploss @20 pips above sell entry
this seems to work half the time or fail half the time with minimal loss. Result=safe trading practice.
Set & forget
it works in currency MT4 as long entry and target get done,stoploss gets cancelled.
If Nse were not asleep,we could have similar thing (automatic stoploss cancel if target reached)in equity TRADING PREVENTING 50% LOSSES.

Well you gave it. but I am bit slow to digest it-needs some time.

I am posting some images.
If anything wrong please correct me!

best regards
ford
images

[URL="

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[URL="

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ford7k · May 29, 2013

Hi friends
here is one more chart-WIPRO DAILY CHART

FROM TODAY 29MAY,ENDBAR IS 54 DAYS AWAY-A HIGH

Image attached

cheers
ford

ford7k · May 30, 2013

Hi friends

The final thing

How do apply this formula chart?
First thing
understand the coders concept why did he call it
fibonacci speed and resistance?
It seems the
Beginbar is the recent high or low close to current time like today or now
Endbar is x bars back into past time

PLEASE remember masterminds comment-
You cannot set BeginBar to a Candle that made High otherwise afl does not work.
speed is distance travelled in a set time
here if price travelled x units in y days, you know the speed.
Slope of price trend is speed & momentum.

I FEEL IT THIS WAY.
A) TRY AND SEE IF YOU ARE AT A SUPPORT OR RESISTANCE.
B)OBSERVE IF SUPPORT ALREADY FORMED IS GETTING READY TO BECOME RESISTANCE
C)KEEP A NOTE OF OBSERVATIONS FOR MONTH AND SEE HOW THING CHANGE AS TIME PASSES (IN FUTURE)

Experts please disprove if anything wrong here in these observations.

regards
ford

Bewinner · May 30, 2013

But Ford.

what are the right parameters to be set as u set some different parameter and mastermind sets something else. and depending on these parameters everything can be changed right?

mastermind007 · May 30, 2013

Bewinner said:

Bewinner/ford

That is precisely the objective of this thread! I've only done basic R&D and concluded that for best results, Beginbar has to be set to nearest low. I guess using 52 week low for begin bar and 52 week high for end bar would be good common-place scenario. AFAIK this chart is only capable of plotting backwards in time. How to use it to infer future events is totally left to us to identify.

As for rest of paramters, turn them on only one by one and see the affect.

Ford, I fail to understand your POV about speed. Can you please elaborate.

ford7k · May 30, 2013

bewinner
The discussion just began.
One step at a time.
The case has just entered the court.
verdict is far away.so have patience.
ask questions. but wait for answers.

I couldnot get even a chart
now I have charts.

Speed is distance in price travelled in a limited time on chart.
The point may be
At what speed price travelled from one fib level to another significant fib level?
When the speed is really more,price can shoot to unfair high levels or low levels.
Speed is the slope of fib level line price follows effectively-possibly.

How do we use this looking into past-sort of code-to use in current or future times- is yet to be understood.investigated.
The problems are often solved when an expert with higher awareness than the problem enters the discussion and or when some very intelligent thought provoking question is asked -thereby forcing thinking in solving the issue.

At the moment-I am in novice zone.
still figuring out how-why-when etc.

we need time-help-more insight.

regards

Quote
Professional Traders look for performance-NOVICE traders look for perfection
Trading is an IMPERFECT WORLD!

ford7k · May 30, 2013

HTML:

SUMMARY
Beginbar has to be set to nearest low.
 I guess using 52 week low for begin bar and 52 week high for end bar 
would be good common-place scenario. this chart is only capable of plotting backwards in time. 
How to use it to infer future events is totally left to us to identify.

mastermind007 said:

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Fibonacci speed and resistance-how to use this

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