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pavan gupta
2011-07-22 00:50:37
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plz help m in writinG simple fib retracement formula
buy rule is
1. once the price retracement is done up to 61.8% then buy if price close above 61.8% and it is hiGhest of last 4 days , stoploss at 100% of retracment
take profit at 161.8%
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Patrick Fonce
2011-07-23 08:05:35
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Best Answer
buy = cross(close, Fibonacci_goldenratio(100)) and hhv(close, 4) == close;
For stops you can try the following:
Set stop loss (points): Formula -> close - llv(low, 100)
Set stop profit (points): Formula -> (llv(low, 100) + ((hhv(high, 100) - llv(low, 100)) * 1.618)) - close
You must download the following indicator first:
Fibonacci retracement: Golden ratio
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(by bug man,
uploaded several months ago)
No notes
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pavan gupta
2011-07-24 21:51:26
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thanks patrick
buy formula is working
but Sl and TP not working properly , i think SL ad TP values are keep on changing but they should constant once buying price is decided
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QuantShare
2011-07-25 06:13:23
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Try replacing "close" value by "Fibonacci_goldenratio(100)"
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pavan gupta
2011-07-25 15:44:37
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buy formula is working but the condition once the retracement is done up to 61.8 % is not met
so the result is having additional unwanted signal where retracement not completed but the stock is above 61.8 % and have Highest 4 day close
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QuantShare
2011-07-27 14:35:18
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Excuse me, but i don't understand what is your request. Can you please reformulate it?
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