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4xmeter

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  1. Re: TREND INDICATOR

     

    Your posting are very interesting, indeed. I thank you again and again for them.

     

    In one of your previous post you talked about using Fibonacci retracements as entry points. I am considering using it because I have problem identifying the trend. Always getting caught in a counter trend position.

     

    So here is an unfinished (beta) indicator base on the ICWR system. I would like to add the following to it.

     

    Target point D (Profit Objective) and retracement point C can be calculated by measuring the number of pips from point A to point B (40+ pips SWING) and multiplying by the the factors below:

     

    Fibonacci Target / Formula for points C or D

    38.2 % :hammer: :hammer: (B-A)*0.382-B=C

    50% :hammer: :hammer: (B-A)*0.5-B=C

    61.8% :hammer: :hammer: (B-A)*0.618-B=C

    75% :hammer: :hammer: (B-A)*0.75-B=C

     

    100% :ugeek: :ugeek: (B-A)*A+A=D

    127% :ugeek: :ugeek: (B-A)*1.27+A=D

    161.8% :ugeek: :ugeek: (B-A)*1.618+A=D

    200% :ugeek: :ugeek: (B-A)*B+A=D

    261.8% :ugeek: :ugeek: (B-A)*2.618+A=D

     

    The results could be displayed as text on a choosing chart corner.

     

    What do you think, possible, not possible or to much to ask at this time?

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