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Hi, has anyone found where we can download the fibs pro trader indicator from Nexgen? I do not mean all the indicators package (macdbb, trigger lines, etc), but only the indicator that plots the support and resistance fib lines or areas.
Or anyone who has found something similar?
I tried with the fibonacci cluster v11 indicator, but it plots a lot of lines, and almost none of them matches the fibs pro trader indicator lines.
If someone knows something about it I appreciate it in advance.
The Fibonacci Cluster V14 (current version) indicator cannot be compared to the Nexgen indicator. It only plots
-> prior highs and lows
-> retracements
-> expansions
but does not identify projections and alternates. Also it does not show confluence areas as a single line.
Actually it is an experimental indicator, which has its merits, if you filter away some of the lines. Although I have coded it, I do not use it for my trading.
The following 2 users say Thank You to Fat Tails for this post:
I´ve been preparing to trade the TF almost for a year. I have a 100% of certainty that the market moves sistematically. The fibonacci ratios work very well for the TF (and for every market). Most of the times the TF swings in between deep retracement ratios (76% and 89% fibonacci retracement). When it moves into a trend, then of course it breaks out those ratios, but then it moves according to the fibonacci extensios ratios, either in bear flags or bull flags.
I use those fibonacci extensions and retracements ratios as possible supports or resistance, I also use the double tops or double bottoms for that, and the pivot points indicator as an additional help (and the market respects them a lot)
The question here will be: How do I know what fibonacci ratio will be the good one or if the market will break out a low or high of the day or a pivot line? For that I have the main indicator I use which is the MACDBB. I do not use it as Nexgen uses it, since they only use the macdbb for the time frame of the chart they are looking at. Instead I have multiple MACDBB charts for different time frames and those time frames are determined depending on fibonacci numbers.
I correlate all the macdbb time frame charts, and they work pretty well. I have made some trades of 13 points (130 ticks in a single trade) with the correlation of these macds. I look for at least 25 ticks of profit per trade.
I was asking for the pro fib trader as an additonal help. I´ve seen they work fine either they work as resistance or supports, or if the market will take them out, at least the market acknowledges and it makes a bounce. The macdbbs will tell me if the market will break out those lines or if they will hold.
I have just added the trigger lines to have a better timing for my entries. I have started to studied them. The timing of my entry is very important since I use a boundary (stop loss) of only 5 ticks.
