# Know where price is heading by shadowbands on 30 minute chart

#### ford7k

##### Banned
Hi friends

Here is a chart. It shows a currency on 30 minute chart shadow bands.
Here the bands are plotted around 62EMA. The bands are fibonacci based.
It was found out by STEVE GREGOR THAT
62EMA HAS SPECIAL POWER ON PRICE MOVEMENTS ON 30 MINUTES CHART OR
31EMA ON 60MINUTE CHART DOES SAME.

I am trying to figure out how to code these into afl.

If anybody has the code please post it.

regards & thanks
ford

#### Bewinner

##### Well-Known Member
Hi friends

Here is a chart. It shows a currency on 30 minute chart shadow bands.
Here the bands are plotted around 62EMA. The bands are fibonacci based.
It was found out by STEVE GREGOR THAT
62EMA HAS SPECIAL POWER ON PRICE MOVEMENTS ON 30 MINUTES CHART OR
31EMA ON 60MINUTE CHART DOES SAME.

I am trying to figure out how to code these into afl.

If anybody has the code please post it.

regards & thanks
ford

In which direction price will go how will u decide? will u decide with the help of price action only or take the help of any other indicator?

#### ford7k

##### Banned
HI
DO WHAT YOU DO WHEN YOU TRADE WITH BOLLINGER BANDS.
use RSI,other oscillators like AO OR ADOsc(acceleration-deceleration oscillator) ,ERGODIC OSC,TDF OSC etc.
What is it we want?
know valid support and resistance and see it with some reliability on chart.
these bands do that job perfectly.

#### mastermind007

##### Well-Known Member
Quick and Dirty sketch. Add 11 Plot lines as you wish

perd = 62; // todo make param

mainMA = ema(C, perd);

r1 = mainMA * 1.236;
r2 = mainMA * 1.382;
r3 = mainMA * 1.5;
r4 = mainMA * 1.618;
r5 = mainMA * 1.786;

s1 = mainMA * (1 - 0.236);
s2 = mainMA * (1 - 0.382);
s3 = mainMA * 0.5;
s4 = mainMA * (1 - 0.618);
s5 = mainMA * (1 - 0.786);

Tweak the numbers so that you see resemblance of image ...

#### ford7k

##### Banned
Hi mastermind

Thanks for the codelines.

Here is some outcome in the form of charts.

till to experiment.yet to add some filter to separate trading opportunities of low risk.

Here is the secret given by mastermind for the forum.
It means
b) Test with rules,test in future zone,look to right of chart-test with bar replay when
you dont see-dont know what comes next!!!!!!!!!!!-confirm.

regards
ford

Last edited:

#### mastermind007

##### Well-Known Member
Here is the secret given by mastermind for the forum.
It means
b) Test with rules,test in future zone,look to right of chart-test with bar replay when
you dont see-dont know what comes next!!!!!!!!!!!-confirm.
regards
ford
Honestly, I did not think so much.

A friend of mine emailed me some US trading magazine that is full of
unbelievable ads of trading systems, so this was just a spoof I created,
sent it to friend and then just for fun, added it in my signature.

#### mastermind007

##### Well-Known Member
Hi mastermind

Thanks for the codelines.

Here is some outcome in the form of charts.

till to experiment.yet to add some filter to separate trading opportunities of low risk.
Lines are too smooth to be of any use. Need to reduce EMA param or the line's fib ratios or both.
62 on 30 minute chart should equate to 8 (or 9) on 240 min chart.