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Applying Fibonacci Cluster and Confluence Zones
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Applying Fibonacci Cluster and Confluence Zones

  #121 (permalink)
Market Wizard
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Nasdin94 View Post
Please excuse me on this but I'm just curious.
About the chart that you just posted on the previous post.

Can you help me draw a fibonacci on your chart like this?
I just want to see the 200 level, the 261.8 level
and the 314.8 and the 361.8 level

And repost a picture please.

I'm trying to see whether my particular method of fibonacci works for this type of market as well.

Thank you so much if you do so.

I hope that's what you had in mind

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Applying Fibonacci Cluster and Confluence Zones-es-12-11-60-min-10_26_2011.jpg  
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  #122 (permalink)
Trading for Fun
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Silvester17 View Post
I hope that's what you had in mind

Yes. Thank you very much, this was what I had in mind.

My method of trading revolved around this.

Seems like my method works in this market as well.

The 2.00 level is a level with an expected retracement to happen so as to re-enter

The 261.8 level is where I take profit and reverse to buy( which happened)
Seems like the bullish wave has also hit its 261.8 and therefore has reversed back to a bearish trend.

Hmm. I think the price is after the 361.8 level, and will of course, retrace at the 314.8 level

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  #123 (permalink)
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Silvester17 View Post
thank you.

yes, agree it's best for currencies.

but if you're using a 1 hour chart, there should be a difference between eth and 24/7 imo. because of different starting points you'll get different sizes of bars. of course it's only minimal. no big deal.

You should not get any difference. The highs and the lows to calculate the retracements and extensions from will be the same, even if they belong to different bars. The only way not to get the same results would be to draw retracements and extensions from all sorts of bars, even those that do not stand for swing highs or lows.

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  #124 (permalink)
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Nasdin94 View Post
Please excuse me on this but I'm just curious.
About the chart that you just posted on the previous post.

Can you help me draw a fibonacci on your chart like this?
I just want to see the 200 level, the 261.8 level
and the 314.8 and the 361.8 level

And repost a picture please.

I'm trying to see whether my particular method of fibonacci works for this type of market as well.

Thank you so much if you do so.

One chart with manually drawn retracements and expansions. The other one with automatically plotted confluence zones.

Attached Thumbnails
Applying Fibonacci Cluster and Confluence Zones-fibonacci-1.jpg   Applying Fibonacci Cluster and Confluence Zones-fibonacci-2.jpg  
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  #125 (permalink)
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Fat Tails.... what a great thread.... I'm looking forward to the book!


Fat Tails View Post
One chart with manually drawn retracements and expansions. The other one with automatically plotted confluence zones.


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  #126 (permalink)
Trading Apprentice
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Hi everyone, this Fibs Confluence are similar to those used in Nexgen T3 Protrader? I have a set of clone indicators in NinjaScript (Large/small Triggers, MACDBB lines and Keltner Channels) use in nexgen, missing only this Fibs.

Thanks

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  #127 (permalink)
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Gustafsonn View Post
Hi everyone, this Fibs Confluence are similar to those used in Nexgen T3 Protrader? I have a set of clone indicators in NinjaScript (Large/small Triggers, MACDBB lines and Keltner Channels) use in nexgen, missing only this Fibs.

Thanks

The indicator follows a similar approach, but it is not a Nexgen clone. It is an aggregate evaluation of 54 different types of lines calculated from prior swings in ten different timeframes, that is up to 540 individual lines. Each of them carries a statistical weight, the weights are aggregated by the indicator. This principle is also used by the Nexgen fibs, but they do not have the same lines and statistical weights. The indicator uses prior highs and lows, retracements, expansions, projections and alternates with different Fibonacci ratios.

The left picture shows the individual lines before aggregation, the right chart shows the confluence lines. The indicator was used with default settings.

Attached Thumbnails
Applying Fibonacci Cluster and Confluence Zones-eurusd-30-min-25_11_2011-single-lines.jpg   Applying Fibonacci Cluster and Confluence Zones-eurusd-30-min-25_11_2011-confluence.jpg  

Last edited by Fat Tails; November 26th, 2011 at 02:03 AM.
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  #128 (permalink)
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Fat Tails View Post
The indicator follows a similar approach, but it is not a Nexgen clone. It is an aggregate evaluation of 54 different types of lines calculated from prior swings in ten different timeframes, that is up to 540 individual lines. Each of them carries a statistical weight, the weights are aggregated by the indicator. This priciple is also used by the Nexgen fibs, but they do not have the same lines and statistical weights. The indicator uses prior highs and lows, retracements, expansions, projections and alternates with different Fibonacci ratios.

The left picture shows the individual lines before aggregation, the right chart shows the confluence lines. The chart shows the indicator with default settings.


Thank you for your reply Fat Tails. Compared with the NexGen what you think is more reliable to pick Support/Resistence?

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  #129 (permalink)
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Gustafsonn View Post
Thank you for your reply Fat Tails. Compared with the NexGen what you think is more reliable to pick Support/Resistence?

Of course, I think that my own indicator is better, as I have coded it myself.

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  #130 (permalink)
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Fat Tails View Post
Of course, I think that my own indicator is better, as I have coded it myself.

You convince me ! How can I get it Fat Tails?

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