Fibtree indicator

Synchronicity

Sergeant
Messages
177
that I mean. I'd try to those files both (zipped n non) but still no result. Im using insta mt4.. :confused:
I don't know. I've looked at the insta website and it seems to be a badged version of MT4. Does anyone else use that platform?
I suggest you email their support and as if there is any reason a custom indicator wont run.

Michael
 

Simon Edwards

Corporal
Messages
90
Hi All

I have been given permission to share my Fibonacci Tree indicator, and the links are below. Please don’t distribute this elsewhere, or include it in posts on this site. If anyone is interested in it send them to this thread so that they get the latest version and support if required.

The FibTree indicator will plot the Fibonacci retracement lines related to a trend line. It allows the user to offset the plotting of these lines, giving a tree effect and allows for a label to be added to each set.
This indicator does not give signals or buy/hold/sell advice, it simply displays some Fibonacci levels.

Please take a few minutes to read these instructions.

Adding the indicator:
The indicator is added to the charts in the normal manner for MetaTrader.
On the menu bar select Insert – Indicators – Custom and then select FibTree_V1

To plot the fib levels:
Draw a trend line between the points you want to plot the Fib levels for.
In the trend line properties Description field enter Fibo, Number, Text, -3 where
Fibo – not case sensitive, this tells the indicator to plot the fib lines for this trend line.
Number – Positive integer which tells the indicator how much to offset the plot for this trend line. Typically this number increases the further away you are from the focus point.
Text – (optional) an optional text label which will be plotted after the fib lines value.
-3 – (optional) Hide the .382 fib line.

Example Fibo,2,T, -3

Setting the indicator properties:
There are a number of variables which affect the behaviour of the indicator. They are listed here along with their default values. To change these values go to the menu bar and select Chart Indicator ListFibtree_V1Edit. Then select the Inputs tab.

Show_Trendline This causes the source trendlines to be shown or hidden.
Default_Space The default number of bars between each fib line set.
LineWidth The width of the plotted lines
FontSize Font size for all plotted labels
Line_Base The colour of the 100% line and the joining bar
Line_.382 The colour of the 0.382 fib retracement line and labels
Line_.618 The colour of the 0.618 fib retracement line and labels
Background Used for hiding the trend line, set this to the background colour of your charts

Hiding Trendlines:
Select Chart Indicator ListFibtree_V1Edit. Then select the Inputs tab
Change Show_Trendline to False.
This will cause all trendlines with the Fibo keyword to be hidden but the fib lines will remain and will still update, i.e. they will move along as new bars are created.
Changing Show_Trendline to True will restore them to view and allow them to be edited, moved or deleted.
NOTE: This works by setting the trendline to be drawn in the background and changing its colour to that set in the Background variable above. If the line passes through coloured areas, eg and ellipse or triangle you have drawn in another colour then it may be visible in that area.

Deleting Fib Lines:
If you wish to delete the lines associated with a trend line the simplest way is to select the trendline and in the trend line properties Description field enter the key word Delete. This will delete all of the fib lines and labels and the trend line. This cannot be undone!
If you delete the trend line, or change its Name property the fibo lines will remain as last plotted and will have to be deleted manually.

The links
http://www.37.org.uk/FibTree_V1.ex4
Zipped in case your anti virus blocks EX4 files.
http://www.37.org.uk/FibTree_V1.zip

Please post questions or bugs here, but please read the instructions and play with it a bit first!!

All the best

Michael

THis looks really good except i'm completely lost on how to set it up , can you post some screenshots showing where you've drawn the trendline and the values given to the description string

the part i really don't understand is "Number – Positive integer which tells the indicator how much to offset the plot for this trend line. Typically this number increases the further away you are from the focus point."
 

hassan079

Private
Messages
16
Hi
I have download this indicator into my mt4 indicators folder , now when i add this indicator from my custom indicators list into my chart nothing shows up on chart i have tried every settings in the indicators properties dialog box but still dont know what is the problem ,else all other custom indicators are working fine .Kindly help me to solve this issue please .Thanks
 

Synchronicity

Sergeant
Messages
177
THis looks really good except i'm completely lost on how to set it up , can you post some screenshots showing where you've drawn the trendline and the values given to the description string

the part i really don't understand is "Number – Positive integer which tells the indicator how much to offset the plot for this trend line. Typically this number increases the further away you are from the focus point."

Hi Simon

If you look at the first chart in this weeks analysis from Sive you can see two instances of the indicator one offset from the next which gives the tree effect. This number is what gives that effect. If he had set both to the same value they would have drawn one on top of the other. Set them 2 apart and there would be a gap.

http://www.forexpeacearmy.com/forex-forum/sive-morten-analysis/19309-forex-pro-weekly-march-19-23-2012-a.html

As for how you use them in analysis and what terms like 'focus point' mean, you will have to look at the glossary, read the forums and for the full explanation of how to use them you'll need to buy Joe DiNapolis book.

All the best

Michael
 

Synchronicity

Sergeant
Messages
177
Hi
I have download this indicator into my mt4 indicators folder , now when i add this indicator from my custom indicators list into my chart nothing shows up on chart i have tried every settings in the indicators properties dialog box but still dont know what is the problem ,else all other custom indicators are working fine .Kindly help me to solve this issue please .Thanks

Have you added a trend line and set it up as per this section
To plot the fib levels:
Draw a trend line between the points you want to plot the Fib levels for.
In the trend line properties Description field enter Fibo, Number, Text, -3 where
Fibo – not case sensitive, this tells the indicator to plot the fib lines for this trend line.
Number – Positive integer which tells the indicator how much to offset the plot for this trend line. Typically this number increases the further away you are from the focus point.
Text – (optional) an optional text label which will be plotted after the fib lines value.
-3 – (optional) Hide the .382 fib line.

Example Fibo,2,T, -3

The indicator draws in the empty space on the right of the last candle, you need to make sure you can see that too.

All the best

Michael
 

grahamFPA

Private, 1st Class
Messages
36
Hi Michael

This is really bizzar. I have 2 platforms running in windows 7. I have loaded the files in the correct folders on both (Expert/Indicators)

1) A live account with Alpari UK running MetaTrader 4 Build 402
Your indicator appears in the Navigator side bar but when I drag it to the chart it will not attach to it. The same happens if i select it from the Insert/Indicators/Custom drop down menu. It will not attach to the chart (every other indicator in the navigation tree attaches without any problem)

2) A demo account FxPro running MetaTrader4 Build 409
Your indicator works just fine on this charting platform

I was just wondered if anyone else was having similar issues? (hassan079 maybe?)

I am really grateful that you have shared and I know you are not looking for the extra work in trying to develop it to do other things but I would really appreciate some help in getting it to work on my Alpari chart (this is my main charting platform using LIVE data)

Kind regards

Graham
 

Synchronicity

Sergeant
Messages
177
Hi Graham

This is very odd!! I use Alpari UK with MetaTrader 4 Build 409 and it is fine.
There is nothing within the indicator that should be sensitive to particular versions.

One issue that I have had on Win7 is that it uses virtualised directories. Open Windows Explorer and ensure that View Hidden Files is enabled. Navigate to C:\Users\YourName\AppData and there will be three folders - Local, Roaming and LocalLow.
Check each of these looking for a Metatrader folder and see if the indicator has been put there. If it has you will need to move it to the correct C:\Program Files (x86)\Metatrader folder.

EDIT:
On reflection, what you need to do is to move anything that is in the AppData\...\metatrader subfolder to the same place in the C:\Program Files (x86)\Metatrader subfolder and then delete the AppData\...\metatrader folder.
You should obviously take a backup copy of everything before you start in case this breaks something!!

I'll try to think of anything else that might help:confused:

All the best

Michael
 
Last edited:

grahamFPA

Private, 1st Class
Messages
36
Hi Michael

Thanks for your reply :)

Upon further investigation I have worked out that it is the stupid windows 7 "administrator rights" that is causing the issue. I have downloaded another version of Alpari metatrader which is set to run as administrator and your indicator works just fine :):)

Thanks again for sharing a great indicator it is now allowing me to see my charts much more clearly.

Just one more question. I'm probably being a bit thick but what is the significance of the (5) and (3) on the chart?

Kind regards

Graham
 

Synchronicity

Sergeant
Messages
177
Hi Michael

Thanks for your reply :)

Upon further investigation I have worked out that it is the stupid windows 7 "administrator rights" that is causing the issue. I have downloaded another version of Alpari metatrader which is set to run as administrator and your indicator works just fine :):)

Thanks again for sharing a great indicator it is now allowing me to see my charts much more clearly.

Just one more question. I'm probably being a bit thick but what is the significance of the (5) and (3) on the chart?

Kind regards

Graham

Hi Graham

Isn't Windows 7 such a joy. It can teach you patience, tolerance and how to scream really really LOUD!!!! :mad:

As you know much of Sive's analysis is based on the work by Joe DiNapoli. In his book DiNapoli gives this explanation of the F3 and F5 terms he uses for retracement levels.
F3 is the 3/8 Fibnode or .382 retracement.
F5 is the 5/8 Fibnode or .618 retracement.
These are slang representations of retracement levels that are traceable back to early Gann
work, which referred to 1/8 points as support or resistance levels.

As an acknowledgement to Gann I use the (3) and (5) as shorthand to label the .382 and .618 retracements - it also helps keep the clutter down on the charts :)

All the best

Michael
 
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