StockFetcher Forums · Filter Exchange · Fibonacci Zone Pivots for Day Trading<< 1 2 3 4 5 ... 6 >>Post Follow-up
Eman93
4,659 posts
msg #71229
Ignore Eman93
modified
2/5/2009 11:50:35 PM

guru_trader
- Ignore guru_trader
modified 1/30/2009 1:58:20 AM

Nice!

_______________________________________________

You need to set the fib numbers to one day ago.
You get tomorrows numbers from todays high low close and range..
the chart needs to project the numbers forward, this should be correct.
It is kinda cool to see how the high and lows are bound around the zones.

THIS IS FOR CHARTING ONLY...NUMBERS ARE ONE DAY AGO

Fetcher[
/* === Chart Layout === */
chart-length is 15 days

/* === Selection Criteria === */
symlist(fas,faz)

/* === Sorting Criteria === */
sort column 1 desending

/* === Fib Zone Pivots === */
set{ hl, High 1 day ago + Low 1 day ago}
set{ hlc, hl + Close 1 day ago}
set{ piv, hlc / 3}
set{ dr, High 1 day ago - Low 1 day ago}
set{ dr5, 0.5 * dr}
set{ rs1, piv + dr5}
set{ rs2, piv + dr}
set{ sp1, piv - dr5}
set{ sp2, piv - dr}
set{ dr618, 0.618 * dr}
set{ rb1, piv + dr618}
set{ sb1, piv - dr618}
set{ dr138, 1.382 * dr}
set{ rb2, piv + dr138}
set{ sb2, piv - dr138}

/* === Draw Fib Zone Pivots on chart === */
add draw piv on plot price
add draw sp1 on plot price
add draw rs1 on plot price
add draw sp2 on plot price
add draw rs2 on plot price
add draw SB1 on plot price
add draw RB1 on plot price
add draw SB2 on plot price
add draw RB2 on plot price

/* === Display Fib Zone Pivots in columns === */
add column piv
add column sp1
add column rs1
add column sp2
add column rs2
add column SB1
add column RB1
add column SB2
add column RB2
]





chetron
2,817 posts
msg #71230
Ignore chetron
modified
2/6/2009 6:44:33 AM

Eman93
- Ignore Eman93 2/5/2009 10:48:44 PM

I think we are to use "average day range (n)"? n= number of days
******************************

i removed the 10 because it didn't help the "day range" line any, and i wasn't sure that you wanted the average so i left it as is. : )

updated filters to average day range(30)

Eman93
4,659 posts
msg #71235
Ignore Eman93
2/6/2009 9:16:56 AM

Thanks Chet

guru_trader
485 posts
msg #71247
Ignore guru_trader
modified
2/6/2009 6:11:27 PM

These pivots sound a little like ... http://www.surefirething.com/day-trading-secrets.html

Eman93
4,659 posts
msg #71256
Ignore Eman93
modified
2/7/2009 1:58:44 PM

I found it in a trading book...by Suri Duddella, he references John T Jackson and Robert Krausz works on Fib Zones.

karennma
6,827 posts
msg #71277
Ignore karennma
2/9/2009 8:10:45 PM

Eman93:
That is a WONDERFUL filter.
How do you use the pivot point. Is that your benchmark for a reversal in price?
Thanks.
:>)


Eman93
4,659 posts
msg #71280
Ignore Eman93
2/9/2009 10:24:05 PM

The Pivot is a support/resistence line, always be aware of yesterdays close also this is another strong area for support/resistence.

SFMc01
296 posts
msg #71290
Ignore SFMc01
2/10/2009 4:00:43 PM

Help please. I Need Recommendations for Education on Using Fibonacci Zone Pivots for Day Trading. Are there websites or articles someone mighjt suggest? I need a real How To article or book

Thanks .... Steve

Eman93
4,659 posts
msg #71296
Ignore Eman93
2/10/2009 6:44:21 PM

You trade it like this...

First plot the lines on your screen

Sp1 is support 1
SB1 is the lower support of the zone, if price is between SB1 and SP1 it is in the FIB Zone...
Buy if it moves up out of the zone, sell short if it breakes below the zone.

The piviot is a point of support and resistance, watch for break downs.

Just because it leaves the FIB zone dose not mean it will run to the piviot or the next resistance zone.

Take a stock you normaly trade set the date back one day on the screen and plot the lines on todays chart it should seem pretty clear from there.

It would make sence to me to that a day trader be able to buy and short the same stock in the same day.

if you buy while in the zone and it breaks the wrong way than just flip the trade...have it all set to go buy 500 sell 1000.

I can't short in my plan so I try to play it with FAS and FAZ.

Eman93
4,659 posts
msg #71301
Ignore Eman93
modified
2/10/2009 9:53:41 PM

This should help........

http://www.scribd.com/doc/7205453/High-Probability-Fibonacci-Analysis

I just found this on the web, it has awsom detail, you could build a screen around the diffrent zones and get some stats like if open in zone 2 % of time close was in zone 4, the formula is all there and how to trade it.

StockFetcher Forums · Filter Exchange · Fibonacci Zone Pivots for Day Trading<< 1 2 3 4 5 ... 6 >>Post Follow-up

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