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Fibtree indicator

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Synchronicity, Mar 14, 2012.

  1. Synchronicity

    Synchronicity Sergeant

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    Hi All

    There's not been a lot of action in this thread for a while but in case anyone needs help or support for the indicator please note that I'll not be around the boards here much until around Easter next year. Things are changing for me at work and home (all good I'm glad to say!) but the next 5 or 6 months will be very intensive and I'll not be spending any significant time on forex trading.
    If you need support and the answer isn't in this thread then post here and PM me and I'll try to help.

    That said, when I do get time I will be working on some changes to this indicator and maybe re-coding a few others that I have managed to hack together but don't work well enough for public consumption. If you have any ideas of changes to the Fibtree indicator that you would like then please post them in this thread and I'll see what I can do.

    I have already started trying to use it to 'track' the Focus point. This will mean that as a new High (or low) is made the focus point for the trend lines will shift to that new level.

    I have a number of aerts and emails that I get it to send - would these be any use?

    Things I can't do include
    Automatically draw trendline - The user needs to decide the start/end points
    Automatically hide levels that have been breached, e.g. if the price retraces and crosses the 3/8 line we should remove it. This will remain a decision for the user to make.
    Flag K levels - agai that is up to you to decide.

    I make no promises about what I'll do or when but I will consider anything posted here and I'll update the indicator when I've had a chance to do something worthwhile.

    All the best

    Michael
     
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  2. Webforecast

    Webforecast Recruit

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    Great work. This indicator is so useful I cannot thank you enough. I love Fibo and now I can have cleaner charts using Fibotree. Thank you very much.
     
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  3. Major_Tom

    Major_Tom Corporal

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    Hi,
    I attach an indicator that auto adjust the fibTree trend line to the new highest or lowest price.
    It works in this way:
    a) if you draw a fibo support and your trend line is UP to the max of the last candle, the indicator does nothing. But, when the max of last candle exceeds the max of trend line, the trend line moves to that max value;
    b) if you draw a fibo resistence and your trend line is DOWN to the min of the last candle, the indicator does nothing. But when the min of last candle exceeds the min of trend line, the trend line moves to that min value.

    To active the AutoAdjust function you must have the indicator on the chart. After that you must set the NAME (not description as FibTree, but NAME) of trend line as the name of ONE of FIVE slot name of the indicator AutoAdjust. The default names are "f1", "f2", "f3", "f4", "f5".
    It can used with the FibTree function that change the colour of trend line as the same of background, hide it.

    I hope this simple tool will be usefull for your trading.
    Regards
    Tom

    PS: thanks a lot to Michael for indicators and Sive and his staff for the excellent Forex and Gold analysis.
     

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  4. Synchronicity

    Synchronicity Sergeant

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    Hi Tom

    Thanks for doing this, it's something I've been working on for a while but never completed.
    I've been in touch with Sive about asking for ideas for the next version of the indicator so if you don't mind I'll include this and if anyone else has any requests please post here to let me know.

    All the best

    Michael
     
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  5. Ivan Helfman

    Ivan Helfman Private

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    Hi Michael,

    My suggestion: fib extensions.
     
  6. Major_Tom

    Major_Tom Corporal

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    Hi Michael,
    My suggestion: custom fibo levels to add to 3 4 5 levels. For example:
    extern inputs: custom A =0
    custom B= 0

    To draw it, custom level variable must be > 0. Fib tree draws it automatically and add it to the other levels set in description of trend line. For example, if custom = 0.886 and in description trend line there is "45", Fib tree draws 50%, 61.8% and 88.6%.

    Thank you very much

    PS: Sorry for my bad english.
     
  7. Major_Tom

    Major_Tom Corporal

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    For Fib extensions I use this one.

    Settings:
    TrendLineName ---> identifies the trend line, default name is "fe";

    ClearOnDeleteTrendLine ---> True: delete fibo extensions when delete trend line / False: you can delete trend line without delete fibo extensions;

    SecondsRefresh=2 ----> Number of seconds to refresh the indicator;

    Fibo_0_Show, Fibo_100_Show, etc ---> Fibo levels;

    SameColorTrendLine ---> True: fibo levels colors are the same of trend line;

    Color, witdth, Style, Font -> set as you wish;

    BarsAhead ---> Number of bars ahead of current price to show line and text.

    I hope it is useful.

    Greetings to all
     

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  8. Venelin

    Venelin Master Sergeant

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    Hi, How do I plot the ex4 file into MT4 nowadays? It use to be simply by putting it in the MQL4 folder... Now it does not work. My MT4 platform build is 1010
    Thank you!
     
  9. Major_Tom

    Major_Tom Corporal

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    Hello,
    I tried and it works. This is an add on to Fib Tree indicators, NOT a substitute. You have to put in the "name" of trend line used for FibTree "f1", or "f2" etc, and AutoAdjust indicator works.
     
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  10. Synchronicity

    Synchronicity Sergeant

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    Hi All

    This is the first Beta version of Fibtree v5. The code has been altered significantly to provide more flexibility for the user. Please read this and first post in this thread before installing and sending comments.

    The indicator can now draw up to 7 retracement or expansion lines. The user can set the values, including colours to suit their own needs.

    The indicator now has the ability to track the focus point. It will automatically move the trendlines and recalculate all of the levels.

    Full instructions will follow when I've ironed out any bugs but for now the key points are:

    • Install and enable the indicator in the normal way (see first post in this thread)
    • The default values show the 0.318, 0.5, 0.618 fib retracement levels, the Focus level and the 0.318, 0.5, 0.618 fib expansion levels. These can be changed in the following way (go to the menu bar and select Chart – Indicator List – Fibtree_V5a – Edit. Then select the Inputs tab.The screenshot shows a synopsis of what each line does.
    • For Line_0 to Line_7 the first value is the same as the line name. DO NOT CHANGE THIS.
    • Line_0 is coded differently and will always draw full length.
    • When editing a Line field the data must follow this structure: This example shows Line_3
    ○ Line_3Identifier used in the code. Do not change.
    ○ Fibo 3Text name for the line to be drawn. (required)
    ○ 0.618The multiplier for the fib retracement or expansion. Positive numbers for retracements, negative numbers for expansions. (required)
    ○ (5)The label that will be displayed beside the price value for that line. (This may be omitted.)
    • The same rules for displaying the lines apply as before. e.g. draw a trend line and enter fibo,1,,345 will draw lines 3, 4 and 5.fibo,1 will draw all lines.
    • To omit a line simply delete the full entry for that line or set its colour to be the same as your background.

    Tracking.
    If you want the indicator to always move to the highest/lowest point when a new high/low are made then simply replace the word Fibo in the trend line description to Track.

    Alternative way to edit inputs.
    MT4 allows the user to save and load the input variables. This allows you to save settings and then edit the file with a normal text editor. You access the options by selecting Chart – Indicator List – Fibtree_V5a – Edit.
    Then select File, Open Data Folder then navigate to MQL4, Presets and open your file.

    The links
    Fibtree V5a EX4 file

    Zipped in case your anti virus blocks EX4 files.
    FibTree V5a Zip File

    Please have a play and post any issues in this thread.

    All the best

    Michael
     

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    #100 Synchronicity, Sep 18, 2016
    Last edited: Sep 18, 2016
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