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I have noticed some interest lately regarding Fibonacci levels. Here is a
crude exploration that will identify securities either closing, or making a
low, around a Fib level predetermined by the highest high and the lowest
low over the last 100 days.
It can be modified in several ways, e.g change the look back period or use
several look back periods at the same time, or tighten/loosen the allowed
deviation from the prescribed Fib level (e.g. 50%). You could also
experiment with using a variable deviation from the Fib level depending
upon, say, volatility.
I trade reversal systems and I use this as an addition to my other
explorations. I will increase my initial stake if I detect a tradable
reversal occurring at a Fib level.
I hope that this may provide food for thought. Enhancements, anybody?
Regards,
Kevin
((HHV(H,100)-L)/(HHV(H,100)-LLV(L,100))*100 > 23 AND
(HHV(H,100)-L)/(HHV(H,100)-LLV(L,100))*100 < 24)
OR
((HHV(H,100)-L)/(HHV(H,100)-LLV(L,100))*100 > 37.5 AND
(HHV(H,100)-L)/(HHV(H,100)-LLV(L,100))*100 < 38.5)
OR
((HHV(H,100)-L)/(HHV(H,100)-LLV(L,100))*100 > 49.5 AND
(HHV(H,100)-L)/(HHV(H,100)-LLV(L,100))*100 < 50.5)
OR
((HHV(H,100)-L)/(HHV(H,100)-LLV(L,100))*100 > 61.5 AND
(HHV(H,100)-L)/(HHV(H,100)-LLV(L,100))*100 < 62.5)
OR
((HHV(H,100)-C)/(HHV(H,100)-LLV(L,100))*100 > 23 AND
(HHV(H,100)-C)/(HHV(H,100)-LLV(L,100))*100 < 24)
OR
((HHV(H,100)-C)/(HHV(H,100)-LLV(L,100))*100 > 37.5 AND
(HHV(H,100)-C)/(HHV(H,100)-LLV(L,100))*100 < 38.5)
OR
((HHV(H,100)-C)/(HHV(H,100)-LLV(L,100))*100 > 49.5 AND
(HHV(H,100)-C)/(HHV(H,100)-LLV(L,100))*100 < 50.5)
OR
((HHV(H,100)-C)/(HHV(H,100)-LLV(L,100))*100 > 61.5 AND
(HHV(H,100)-C)/(HHV(H,100)-LLV(L,100))*100 < 62.5)
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