Fibtree indicator

Major_Tom

Corporal
Messages
89
Hello, thank you Michael.
I've tried beta version:
a) It works better only if the description trend line not contain the level choices (f.e. fibo or track only) and it draw ALL levels.
b) I think that to set custom level editing the input of the indicator is not a good choice, because that custom level will work for ALL the fibo line that I draw (and not for specific one).
c) The (+3) default level must be set to 27.2 to have 127.2 and not 38.2

All the best
 

Synchronicity

Sergeant
Messages
177
Hi Tom

Thanks for taking the time to comment. I have fixed a few bugs and am working on some more before updating the file. I think I have all of the problems with drawing specific levels sorted.

I can't think of another way of having the inputs specified rather than using the inputs. You could draw different levels for specific trendlines by showing only specific lines and adjusting the inputs accordingly.
An example would be to have lines 1, 2 and 3 set to 0.382, 0.5 and 0.618 and lines 4, 5 and 6 set to 0.25, 0.5 and 0.75. You could then select which set to use by puting 123 or 456 in the trendline description.

Please let me know if you have any other ideas how to do this.

All the best

Michael
 

Major_Tom

Corporal
Messages
89
Hi,
It's ok!! I agree with you. It seems the best way. However, i think is a good choice to set default 4=0.5, 3=0.382, 5=61.8 like the other versions
Thank you!
Tom
 

butcher

Private
Messages
44
The Butcher's indicator is a very good indicator...but Michael's indicator is free for all...and this is a very good thing!

Hi Tom,

Thanks for your comments. It is not my indicator I just helped :)

Regarding the cost ;

It is not possible to trade lower time frames such as 1min, 5min at different markets at the same time with fibtree or others. As you know this indicator is very fast and time saving so it is up to trader to save his/her time and be one step forward than others. 12 usd per month is like a one trade's spread cost. So for myself i see it like a free tool as well :)

Regards
 

yousimon

Private, 1st Class
Messages
35
Hi Tom,

Thanks for your comments. It is not my indicator I just helped :)

Regarding the cost ;

It is not possible to trade lower time frames such as 1min, 5min at different markets at the same time with fibtree or others. As you know this indicator is very fast and time saving so it is up to trader to save his/her time and be one step forward than others. 12 usd per month is like a one trade's spread cost. So for myself i see it like a free tool as well :)

Regards
agree great work
 

Major_Tom

Corporal
Messages
89
Hello,
This is a beta version of an indicator to support Michael FibTree. You have to load FibTree and this indicator in the same chart.
Press CTRL (one time) and touch 2 candle. It draws line after touching high and low candles (it detects low and high of the candle touched). For another fibline press CTRL again.
IMPORTANT: after draw line you have move the chart a little bit for fibo levels...I don't know why...maybe the problem is the initialization of Fibtree or...I don't know. I'm not a programmer.......
You also have buttons "F3", "F4" ,"F5". The default is 35 in fibo trend line description. If you touch the button it add a fibo levels or cancel the fibo level. For Example: if you have drawn Fibo 35 and press F3, the level 3 will be cancelled. If you have drawn 35 and press F4, level 4 will be added. It works for THE LAST fibo line.
The button "CANCEL ALL", delete all fibo lines.

This is FREE.
It is only an experiment but I hope it will be usefull.

Thanks to Michael for FibTree and Sive for great work!
Regards

MT
 

Attachments

  • FibTreeDraw.zip
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