FPI + Fibonacci = Triangular FM Pivots

Moderator: moderators

User avatar
Nicholishen
rank: 50+ posts
rank: 50+ posts
Posts: 52
Joined: Thu Oct 26, 2006 8:44 am
Reputation: 0
Real name: Nick
Gender: Male

FPI + Fibonacci = Triangular FM Pivots

Postby Nicholishen » Wed Mar 19, 2008 2:59 pm

I originally posted this on TSD then ND burried it in some old piv thread. So I'm putting it here for discussion, where it belongs in the first place.

This is a combination of Triangular price calculation and Fibonacci retracement levels. The levels can be deadly accurate, especially when they overlap a key fib or pivot point.

How are they calculated?
The IND searches for triangular rings containing the chart symbol. It then calculates the new pivot levels based on the 0% and 100% fibonacci retracement levels of the remaining two symbols using the 1=(a/b)*(b/c)*(c/a) formula.

Why does it work?
FM :D
Attachments
Triangular FM Pivots.mq4
(8.58 KiB) Downloaded 406 times

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

vladv
rank: 50+ posts
rank: 50+ posts
Posts: 111
Joined: Sat Nov 11, 2006 3:38 pm
Reputation: 0
Location: Aiud
Real name: Vlad Vahnovanu
Gender: Male
Contact:

Postby vladv » Mon Oct 13, 2008 2:26 pm

Thanks for sharing this indicator!I will test it in my strategy that is both fibo and pivot based.

vladv
rank: 50+ posts
rank: 50+ posts
Posts: 111
Joined: Sat Nov 11, 2006 3:38 pm
Reputation: 0
Location: Aiud
Real name: Vlad Vahnovanu
Gender: Male
Contact:

Postby vladv » Mon Aug 01, 2011 9:35 pm

Anybody care to share the best way to use this indi? ;)

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “MetaTrader”