Leading Indicator-FIBONACCI-think of it

#1
Hi friends

Here is some info on fobonacci.
Divine proportion is 0.618 or 1.618

Unleash Your Winning Trades Using The Power of Fibonacci


Look at above picture.
Do you look in that perspective in market?


http://thedisciplinedtrader.com/tonihansen/videos/

08/22/2013 --
Fibonacci Mastery course has been developed by Ms. Toni Hansen. She has recently released a Fibonacci Mastery FREE Training Video-“Unleash Your Winning Trades Using The Power Of Fibonacci” as part of the product launch.

Trading Discipline Expert, Norman Hallett, recently took a poll of 80,000 traders (Stock, Forex, ETF, Options and Commodity Futures Traders) asking what trading technique they would like to learn more about.
The OVERWHELMING vote-getter was Fibonacci analysis.
Most traders know the power of applying the Fibonacci ratio to their trading. But very few traders use Fibonacci analysis correctly and to it's fullest. Applying Fibonacci the RIGHT WAY can unleash winning trades after winning trades... as it as for many professional traders. Norman has secured Toni Hansen, THE Master at applying Fibonacci to trading, to construct a FREE Training Video to show you 3 of her favorite instantly-actionable techniques...

Technique ONE: Powerful Retracements - Using Fib for timing entries.
Technique TWO: Establishing Solid Target Levels using Fib Extensions.
Technique THREE: Reinforcing Target Points using Fib Clusters...


In the next few days, she will be releasing some more FREE stuff after that she will also hold a few general webinars in which she will be answering questions on fibonacci trading.

About Ms. Toni Hansen
Ms. Toni Hansen is considered to be a technical analysis expert. She began her trading career as an equity swing trader and has since expanded into many other sectors of the market. Her style of trading and market analysis transcends both time as well as market vehicles, making it attractive to investors and trader of stocks, futures, options, ETFs, and even the FOREX market.

Ms. Toni Hansen is also a frequent speaker at the trade shows and trading expos and is also a popular columnist. Throughout the boom and bust of the last decade, Toni has been consistently trading and educating new traders. Her students include a diverse spectrum of market participants, from professional money managers, market analysts, broker and traders to retirees and stay at home parents, as well as those simply wishing to hone their market skills.

a reference book
http://www.elliottwave.com/fibonacci/ebook/default.aspx?code=aff
 
Last edited:
#4
//Fibonacci cluster
pctH = Param ("Pivot Hi %", 0.325,0.001,2.0,0.002);
HiLB = Param ("Hi LookBack",1,1,BarCount-1,1);
pctL = Param ("Pivot Lo %", 0.325,0.001,2.0,0.002);
LoLB = Param ("Lo LookBack",1,1,BarCount-1,1);
Back = Param ("Extend Left = 2",1,1,500,1);
Fwd = Param("Plot Forward", 0, 0, 500, 1);
hts = Param ("Text Shift", -33.5,-50,50,0.10);
style =ParamStyle("Line Style",styleLine,styleNoLabel);
x = BarIndex();
pRp = PeakBars( H, pctH, 1) == 0;
yRp0 = SelectedValue(ValueWhen( pRp, H, HiLB));
xRp0 = SelectedValue(ValueWhen( pRp, x, HiLB));
pSp = TroughBars( L, pctL, 1) == 0;
ySp0 = SelectedValue(ValueWhen( pSp, L, LoLB));
xSp0 = SelectedValue(ValueWhen( pSp, x, LoLB));
Delta = yRp0 - ySp0;

function fib(ret)
{
retval = (Delta * ret);
Fibval = IIf(ret < 1.0 AND xSp0 < xRp0, yRp0 - retval,
IIf(ret < 1.0 AND xSp0 > xRp0,
ySp0 + retval,
IIf(ret > 1.0 AND xSp0 < xRp0,
yRp0 - retval,
IIf(ret > 1.0 AND xSp0 > xRp0,
ySp0 + retval,
Null))));
return FibVal;
}

x0 = Min(xSp0,xRp0)-Back;
x1 = (BarCount -1);
//////////////////////////////////////////////////////////////////
r236 = fib(0.236); r236I = LastValue (r236,1);
r382 = fib(0.382); r382I = LastValue (r382,1);
r050 = fib(0.50); r050I = LastValue (r050,1);
r618 = fib(0.618); r618I = LastValue (r618,1);
r786 = fib(0.786); r786I = LastValue (r786,1);
e127 = fib(1.27); e127I = LastValue (e127,1);
e162 = fib(1.62); e162I = LastValue (e162,1);
e200 = fib(2.00); e200I = LastValue (e200,1);
e262 = fib(2.62); e262I = LastValue (e262,1);
e424 = fib(4.24); e424I = LastValue (e424,1);
//////////////////////////////////////////////////////////////////
p00 = IIf(xSp0 > xRp0,ySp0,yRp0);
p00I = LastValue (p00,1);
p100 = IIf(xSp0 < xRp0,ySp0,yRp0);
p100I = LastValue (p100,1);
color00 =IIf(xSp0 > xRp0,colorLime,colorRed);
color100 =IIf(xSp0 < xRp0,colorLime,colorRed);
//////////////////////////////////////////////////////////////////
numbars = LastValue(Cum(Status("barvisible")));
fraction= IIf(StrRight(Name(),3) == "", 3.2, 3.2);
//////////////////////////////////////////////////////////////////
if(fibs==True) {
Plot(LineArray(xRp0-Fwd,yRp0,x1,yRp0,Back),"PR",32,8|styleNoRescale,Nu ll, Null,Fwd);
Plot(LineArray(xSp0-Fwd,ySp0,x1,ySp0,Back),"PS",27,8|styleNoRescale,Nu ll, Null,Fwd);
Plot(LineArray(x0-Fwd,r236,x1,r236,Back),"",45,style|styleNoRescale, Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r382,x1,r382,Back),"",44,style|styleNoRescale, Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r050,x1,r050,Back),"",41,style|styleNoRescale, Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r618,x1,r618,Back),"",43,style|styleNoRescale, Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r786,x1,r786,Back),"",42,style|styleNoRescale, Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e127,x1,e127,Back),"e127",47,style|styleNoResc ale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e162,x1,e162,Back),"e162",47,style|styleNoResc ale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e200,x1,e200,Back),"p200",47,style|styleNoResc ale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e262,x1,e262,Back),"p262",47,style|styleNoResc ale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e424,x1,e424,Back),"p424",25,style|styleNoResc ale,Null, Null,Fwd);
}
//////////////////////////////////////////////////////////////////
if(text==1) {
PlotText(" 0% = " + WriteVal(p00,fraction), LastValue(BarIndex())-(numbars/hts), p00I + 0.05, color00);
PlotText("23% = " + WriteVal(r236,fraction), LastValue(BarIndex())-(numbars/hts), r236I + 0.05, 45);
PlotText("38% = " + WriteVal(r382,fraction), LastValue(BarIndex())-(numbars/hts), r382I + 0.05, 44);
PlotText("50% = " + WriteVal(r050,fraction), LastValue(BarIndex())-(numbars/hts), r050I + 0.05, 41);
PlotText("62% = " + WriteVal(r618,fraction), LastValue(BarIndex())-(numbars/hts), r618I + 0.05, 43);
PlotText("78% = " + WriteVal(r786,fraction), LastValue(BarIndex())-(numbars/hts), r786I + 0.05, 42);
PlotText("100% = " + WriteVal(p100,fraction), LastValue(BarIndex())-(numbars/hts),p100I + 0.05, color100);
PlotText("127% = " + WriteVal(e127,fraction), LastValue(BarIndex())-(numbars/hts),e127I + 0.05, 47);
PlotText("162% = " + WriteVal(e162,fraction), LastValue(BarIndex())-(numbars/hts),e162I + 0.05, 47);
PlotText("200% = " + WriteVal(e200,fraction), LastValue(BarIndex())-(numbars/hts),e200I + 0.05, 47);
PlotText("262% = " + WriteVal(e262,fraction), LastValue(BarIndex())-(numbars/hts),e262I + 0.05, 47);
PlotText("424% = " + WriteVal(e424,fraction), LastValue(BarIndex())-(numbars/hts),e424I + 0.05, 25);
}
/////////////////////////////////////////////////////////////////
m = Param("Long Pds", 60, 20, 100, 1 );
amv0=Volume*(O+H+L+C)/4;
line=Sum(amv0,50)/Sum(Volume,50);
CG=MA(C,14);
holdline=HHV(CG,3);
if(ShowCrossover==True) {
Plot(line,"Modified",7,1);
Plot(cg,"A",10,1);
Plot(Holdline,"B",13,1);
PlotOHLC(Holdline,Cg,Holdline,Cg,"",13,styleCloud) ;
}

_SECTION_END();


there are the errors... :

Variable ""fibs "" ""text "" ""showcrossover "" used without being initialized..


Some one plz solve this errors thanks..

Kuamr2409
 
#6
Here is ur Error free Fibanacci Cluster AFL



Code:
_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( C, "Close", ParamColor("Color", colorDefault ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() ); 
_SECTION_END();

_SECTION_BEGIN("Fibonacci Cluster 2");
pctH = Param ("Pivot Hi %", 0.325,0.001,2.0,0.002);
HiLB = Param ("Hi LookBack",1,1,BarCount-1,1);
pctL = Param ("Pivot Lo %", 0.325,0.001,2.0,0.002);
LoLB = Param ("Lo LookBack",1,1,BarCount-1,1);
Back = Param ("Extend Left = 2",1,1,500,1);
Fwd = Param("Plot Forward", 0, 0, 500, 1);
hts = Param ("Text Shift", -33.5,-50,50,0.10);
style =ParamStyle("Line Style",styleLine,styleNoLabel);
x = BarIndex();
pRp = PeakBars( H, pctH, 1) == 0;
yRp0 = SelectedValue(ValueWhen( pRp, H, HiLB));
xRp0 = SelectedValue(ValueWhen( pRp, x, HiLB));
pSp = TroughBars( L, pctL, 1) == 0;
ySp0 = SelectedValue(ValueWhen( pSp, L, LoLB));
xSp0 = SelectedValue(ValueWhen( pSp, x, LoLB));
Delta = yRp0 - ySp0;

function fib(ret)
{
retval = (Delta * ret);
Fibval = IIf(ret < 1.0 AND xSp0 < xRp0, yRp0 - retval, 
IIf(ret < 1.0 AND xSp0 > xRp0,
ySp0 + retval,
IIf(ret > 1.0 AND xSp0 < xRp0,
yRp0 - retval,
IIf(ret > 1.0 AND xSp0 > xRp0, 
ySp0 + retval,
Null)))); 
return FibVal;
}

x0 = Min(xSp0,xRp0)-Back;
x1 = (BarCount -1);
//////////////////////////////////////////////////////////////////
r236 = fib(0.236);	r236I = LastValue (r236,1);
r382 = fib(0.382);	r382I = LastValue (r382,1);
r050 = fib(0.50);	r050I = LastValue (r050,1);
r618 = fib(0.618);	r618I = LastValue (r618,1);
r786 = fib(0.786);	r786I = LastValue (r786,1);
e127 = fib(1.27);	e127I = LastValue (e127,1);
e162 = fib(1.62);	e162I = LastValue (e162,1);
e200 = fib(2.00);	e200I = LastValue (e200,1);
e262 = fib(2.62);	e262I = LastValue (e262,1);
e424 = fib(4.24);	e424I = LastValue (e424,1);
//////////////////////////////////////////////////////////////////
p00 = IIf(xSp0 > xRp0,ySp0,yRp0);
p00I = LastValue (p00,1);
p100 = IIf(xSp0 < xRp0,ySp0,yRp0);
p100I = LastValue (p100,1);
color00 =IIf(xSp0 > xRp0,colorLime,colorRed);
color100 =IIf(xSp0 < xRp0,colorLime,colorRed);
//////////////////////////////////////////////////////////////////
numbars = LastValue(Cum(Status("barvisible")));
fraction= IIf(StrRight(Name(),3) == "", 3.2, 3.2);
//////////////////////////////////////////////////////////////////
Plot(LineArray(xRp0-Fwd,yRp0,x1,yRp0,Back),"PR",32,8|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(xSp0-Fwd,ySp0,x1,ySp0,Back),"PS",27,8|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r236,x1,r236,Back),"",45,style|styleNoRescale, Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r382,x1,r382,Back),"",44,style|styleNoRescale, Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r050,x1,r050,Back),"",41,style|styleNoRescale, Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r618,x1,r618,Back),"",43,style|styleNoRescale, Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r786,x1,r786,Back),"",42,style|styleNoRescale, Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e127,x1,e127,Back),"e127",47,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e162,x1,e162,Back),"e162",47,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e200,x1,e200,Back),"p200",47,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e262,x1,e262,Back),"p262",47,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e424,x1,e424,Back),"p424",25,style|styleNoRescale,Null, Null,Fwd);

//////////////////////////////////////////////////////////////////
PlotText(" 0% = " + WriteVal(p00,fraction), LastValue(BarIndex())-(numbars/hts), p00I + 0.05, color00);
PlotText("23% = " + WriteVal(r236,fraction), LastValue(BarIndex())-(numbars/hts), r236I + 0.05, 45);
PlotText("38% = " + WriteVal(r382,fraction), LastValue(BarIndex())-(numbars/hts), r382I + 0.05, 44);
PlotText("50% = " + WriteVal(r050,fraction), LastValue(BarIndex())-(numbars/hts), r050I + 0.05, 41);
PlotText("62% = " + WriteVal(r618,fraction), LastValue(BarIndex())-(numbars/hts), r618I + 0.05, 43);
PlotText("78% = " + WriteVal(r786,fraction), LastValue(BarIndex())-(numbars/hts), r786I + 0.05, 42);
PlotText("100% = " + WriteVal(p100,fraction), LastValue(BarIndex())-(numbars/hts),p100I + 0.05, color100);
PlotText("127% = " + WriteVal(e127,fraction), LastValue(BarIndex())-(numbars/hts),e127I + 0.05, 47);
PlotText("162% = " + WriteVal(e162,fraction), LastValue(BarIndex())-(numbars/hts),e162I + 0.05, 47);
PlotText("200% = " + WriteVal(e200,fraction), LastValue(BarIndex())-(numbars/hts),e200I + 0.05, 47);
PlotText("262% = " + WriteVal(e262,fraction), LastValue(BarIndex())-(numbars/hts),e262I + 0.05, 47);
PlotText("424% = " + WriteVal(e424,fraction), LastValue(BarIndex())-(numbars/hts),e424I + 0.05, 25);

/////////////////////////////////////////////////////////////////
m = Param("Long Pds", 60, 20, 100, 1 );
amv0=Volume*(O+H+L+C)/4;
line=Sum(amv0,50)/Sum(Volume,50);
CG=MA(C,14);
holdline=HHV(CG,3);
Plot(line,"Modified",7,1);
Plot(cg,"A",10,1);
Plot(Holdline,"B",13,1);
PlotOHLC(Holdline,Cg,Holdline,Cg,"",13,styleCloud) ;


_SECTION_END();
_SECTION_END();




I have one more...Fibonacci Cluster afl
http://wisestocktrader.com/indicators/819-fibonacci-cluster


Code:
//Fibonacci cluster

_SECTION_BEGIN("Background");
	SetChartOptions(0,chartShowArrows|chartShowDates);
	SetChartBkColor(ParamColor("Outer panel",colorWhite)); // color of outer border 
	SetChartBkGradientFill( ParamColor("Inner panel upper",colorWhite),ParamColor("Inner panel lower",colorWhite));
	tchoice=Param("Title Selection ",2,1,2,1);

Plot(C, "", IIf(O>=C, colorOrange, colorGreen), ParamStyle("Price Style",styleCandle,maskPrice));
//////////////////////////////////////////////////////////////////
_SECTION_BEGIN("Fib Retracements");
	fibs = ParamToggle("Plot Fibs","Off|On",1);
	pctH = Param ("Pivot Hi %", 0.325,0.001,2.0,0.002);
	HiLB = Param ("Hi LookBack",1,1,BarCount-1,1);
	pctL = Param ("Pivot Lo %", 0.325,0.001,2.0,0.002);
	LoLB = Param ("Lo LookBack",1,1,BarCount-1,1);
	Back = Param ("Extend Left = 2",1,1,500,1);
	Fwd  = Param("Plot Forward", 0, 0, 500, 1);
	text = ParamToggle("Plot Text","Off|On",1);
	hts  = Param ("Text Shift", -33.5,-50,50,0.10);
	style =ParamStyle("Line Style",styleLine,styleNoLabel);
x = BarIndex();
pRp  = PeakBars( H, pctH, 1) == 0;
yRp0 = SelectedValue(ValueWhen( pRp, H, HiLB));
xRp0 = SelectedValue(ValueWhen( pRp, x, HiLB));
pSp  = TroughBars( L, pctL, 1) == 0;
ySp0 = SelectedValue(ValueWhen( pSp, L, LoLB));
xSp0 = SelectedValue(ValueWhen( pSp, x, LoLB));
Delta = yRp0 - ySp0;

function fib(ret)
{
retval = (Delta * ret);
Fibval = IIf(ret < 1.0 
AND xSp0 < xRp0, yRp0 - retval, IIf(ret < 1.0 
AND xSp0 > xRp0, ySp0 + retval,IIf(ret > 1.0 
AND xSp0 < xRp0, yRp0 - retval, IIf(ret > 1.0 
AND xSp0 > xRp0, ySp0 + retval, Null)))); 
return FibVal;
}

x0 = Min(xSp0,xRp0)-Back;
x1 = (BarCount -1);
//////////////////////////////////////////////////////////////////
r236 = fib(0.236);	r236I = LastValue (r236,1);
r382 = fib(0.382);	r382I = LastValue (r382,1);
r050 = fib(0.50);		r050I = LastValue (r050,1);
r618 = fib(0.618);	r618I = LastValue (r618,1);
r786 = fib(0.786);	r786I = LastValue (r786,1);
e127 = fib(1.27);		e127I = LastValue (e127,1);
e162 = fib(1.62);		e162I = LastValue (e162,1);
e200 = fib(2.00);		e200I = LastValue (e200,1);
e262 = fib(2.62);		e262I = LastValue (e262,1);
e424 = fib(4.24);		e424I = LastValue (e424,1);
//////////////////////////////////////////////////////////////////
p00 = IIf(xSp0 > xRp0,ySp0,yRp0); 	p00I = LastValue (p00,1);
p100 = IIf(xSp0 < xRp0,ySp0,yRp0); 	p100I = LastValue (p100,1);
color00 =IIf(xSp0 > xRp0,colorLime,colorRed);
color100 =IIf(xSp0 < xRp0,colorLime,colorRed);
//////////////////////////////////////////////////////////////////
numbars = LastValue(Cum(Status("barvisible")));
fraction= IIf(StrRight(Name(),3) == "", 3.2, 3.2);
//////////////////////////////////////////////////////////////////
if(fibs==1)
{
Plot(LineArray(xRp0-Fwd,yRp0,x1,yRp0,Back),"PR",32,8|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(xSp0-Fwd,ySp0,x1,ySp0,Back),"PS",27,8|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r236,x1,r236,Back),"",45,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r382,x1,r382,Back),"",44,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r050,x1,r050,Back),"",41,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r618,x1,r618,Back),"",43,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,r786,x1,r786,Back),"",42,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e127,x1,e127,Back),"e127",47,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e162,x1,e162,Back),"e162",47,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e200,x1,e200,Back),"p200",47,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e262,x1,e262,Back),"p262",47,style|styleNoRescale,Null, Null,Fwd);
Plot(LineArray(x0-Fwd,e424,x1,e424,Back),"p424",25,style|styleNoRescale,Null, Null,Fwd);
}
//////////////////////////////////////////////////////////////////
if(text==1)
{ 
PlotText(" 0% = " + WriteVal(p00,fraction), 	LastValue(BarIndex())-(numbars/hts), p00I  + 0.05, color00);
PlotText("23% = " + WriteVal(r236,fraction), LastValue(BarIndex())-(numbars/hts), r236I + 0.05, 45);
PlotText("38% = " + WriteVal(r382,fraction), LastValue(BarIndex())-(numbars/hts), r382I + 0.05, 44);
PlotText("50% = " + WriteVal(r050,fraction), LastValue(BarIndex())-(numbars/hts), r050I + 0.05, 41);
PlotText("62% = " + WriteVal(r618,fraction), LastValue(BarIndex())-(numbars/hts), r618I + 0.05, 43);
PlotText("78% = " + WriteVal(r786,fraction), LastValue(BarIndex())-(numbars/hts), r786I + 0.05, 42);
PlotText("100% = " + WriteVal(p100,fraction), LastValue(BarIndex())-(numbars/hts),p100I + 0.05, color100);
PlotText("127% = " + WriteVal(e127,fraction), LastValue(BarIndex())-(numbars/hts),e127I + 0.05, 47);
PlotText("162% = " + WriteVal(e162,fraction), LastValue(BarIndex())-(numbars/hts),e162I + 0.05, 47);
PlotText("200% = " + WriteVal(e200,fraction), LastValue(BarIndex())-(numbars/hts),e200I + 0.05, 47);
PlotText("262% = " + WriteVal(e262,fraction), LastValue(BarIndex())-(numbars/hts),e262I + 0.05, 47);
PlotText("424% = " + WriteVal(e424,fraction), LastValue(BarIndex())-(numbars/hts),e424I + 0.05, 25);
}
_SECTION_END();
//////////////////////////////////////////////////////////////////
if (tchoice==1 ) 
{
_N(Title = EncodeColor(colorBlack)+StrFormat(" {{NAME}} -   {{INTERVAL}}      {{DATE}}    Open:  %g,    High:  %g,     Low:  %g,     Close:  %g     {{VALUES}}",O, H, L, C, SelectedValue( ROC( C, 1   ) ) ));
}
//////////////////////////////////////////////////////////////////
if (tchoice==2 ) 
{
Title = EncodeColor(colorBlack)+  Date() + "   Tick = " + EncodeColor(5) + Interval()+
EncodeColor(colorBlack) + "     Open = " + EncodeColor(colorBlack) + O + 
EncodeColor(colorBlack) + "     High = " + EncodeColor(5) + H +
EncodeColor(colorBlack) + "      Low = " + EncodeColor(colorRed) + L + 
EncodeColor(colorBlack) + "     Close = " + EncodeColor(colorBlack) + C + "\n" +
EncodeColor( colorBlack) +"_______________"+"\n"+
EncodeColor( colorBlack)  + "424%   =  "	+ 	EncodeColor(25)+ e424 + " " +"\n"+
EncodeColor( colorBlack)  + "262%   =  "	+ 	EncodeColor(47)+ e262 + " " +"\n"+
EncodeColor( colorBlack)  + "200%   =  "	+ 	EncodeColor(47)+ e200 + " " +"\n"+
EncodeColor( colorBlack)  + "162%   =  "	+ 	EncodeColor(47)+ e162 + " " +"\n"+
EncodeColor( colorBlack)  + "127%   =  "	+ 	EncodeColor(47)+ e127 + " " +"\n"+
EncodeColor( colorYellow) + "  Res    =  "	+ 	EncodeColor(32)+ p100 + " " +"\n"+
EncodeColor( colorBlack)  + "  78%   =  "	+	EncodeColor(42)+ r786 + " " +"\n"+
EncodeColor( colorBlack)  + "  62%   =  "	+ 	EncodeColor(43)+ r618 + " " +"\n"+
EncodeColor( colorBlack)  + "  50%   =  "	+ 	EncodeColor(41)+ r050 + " " +"\n"+
EncodeColor( colorBlack)  + "  38%   =  "	+ 	EncodeColor(44)+ r382 + " " +"\n"+
EncodeColor( colorBlack)  + "  23%   =  "	+ 	EncodeColor(45)+ r236+ " " +"\n"+
EncodeColor( colorYellow) + "  Sup   =   "	+ 	EncodeColor(34)+ p00 + " " ;
}
GraphXSpace=5;

_SECTION_BEGIN("BACK COLR");
SetChartBkGradientFill( ParamColor("BgTop", ColorRGB( 172,172,172 )),

ParamColor("BgBottom", ColorRGB( 172,172,172 )),ParamColor("titleblock",ColorRGB( 172,172,172 )));
_SECTION_END();
 

KelvinHand

Well-Known Member
#8
Here is ur Error free Fibanacci Cluster AFL
http://www.investopedia.com/terms/f/fibonaccicluster.asp
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Definition of 'Fibonacci Clusters'
A tool used in technical analysis that combines various numbers of Fibonacci retracements, all of which are drawn from different highs and lows. Fibonacci clusters are indicators which are usually found on the side of a price chart and look like a series of horizontal bars with various degrees of shading. Each retracement level that overlaps with another makes the horizontal bar on the side darker at that price level. The most significant levels of support and resistance are found where the Fibonacci cluster is the darkest.
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http://www.askjeffwilde.com/HWC.pdf
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A “Fibonacci cluster” is a name given to several price points which were derived via retracements, projections (extensions, expansions), extended retracements, Fork Fibo's ...etc., and which are done on various (read “different”) waves before and around the current price, all showing future potential S&R, and all of which provide some areas of over-
lapping price points (typically in a fairly tight, 0-pip to 3-pip zone).

Thus, we might have a larger, 4-hour retracement showing a 38.2% retracement and a smaller, 30-minute wave projection, whose 161.8% projection lands on top of, or within a few
pips of, each other. We have this hot-spot, where two different Fibonacci analyses have points at the same spot. Get another Fibonacci-based study to land on or near that same spot, and you have a pretty good “cluster” of Fibonacci-based price points that typically will translate into something of significance
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To me, this is just a simple FIBONACCI Displaying.
Your say clusters, I cannot see it.

Here is my understanding of FIBONACCI Clustering( or confluence).
 
Last edited:

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