Fibonacci Automated indicator

This ProRealTime indicator Plot on the graph the following Fibonacci functions:

• Extension
• Retracement
• Fan
• Channel Retracement
• Channel Extension.

It can be used for the following time intervals

• Daily
• hours
• minutes
• Second

It cannot be used in the following time intervals

• weekly
• Monthly
• Ticks

HOW THE INDICATOR WORKS:

This indicator plots the segments of the fibonacci levels automatically on the graph. To set the size of the retracement, use the zigzag function, contained in the indicator. After choosing the period, it will suffice each time to select the fibonacci function preferred among those available. The following video shows some details.

This indicator, not only draws fibonacci retracements, but allows setting retracement levels, both horizontal and oblique, to detect breakout. The level breakout generates a signal. This signal can be recalled in an automated strategy, in a screener, or by an indicator. The one who is practical in programming, understands the endless possibilities that are offered. Finally, you can build an automatic strategy on the breakout of fibonacci retracements, both for the channels and for the fan.

BREAKOUT LEVELS

The absolute novelty of  “Fibonacci Automated indicator”, it’s which allows to create active levels, which if price crossed over or under level, it will generate a signal.

The active levels will not only be horizontal, but also oblique, as in the case of the channels, or of the fan.

The signal can be used to create screener, automatic strategies, or other indicators.

Interface of the Fibonacci Automated indicator:

1. ZigZagPerc : Enable or disable the PricePercent variable.
2. PricePercent: Value of the percentage difference between a new high and a new low. This variable affects the size of the Pattern.
3. Dynamic: Enable or disable the dynamic variable.
4. Factor: Variable of the “Dynamic” function, this function allows automatic detection of patterns based on market volatility.
5. ZigZagVal: Enabled or disabled the PointsValue variable.
6. PointsValue: Value of the difference expressed in points, between a new maximum and a new minimum. This variable affects the size of the Pattern.
7. BullBreakOut: create an active retracement level, and generate the breakout  signal, if the price crosses over the level. If the variable is 0, the level is disable.
8. BearBreakOut: create an active retracement level, and generate the breakout  signal, if the price crosses under the level. If the variable is 0, the level is disable.
9. StopPoint:  delay  n° bars, the upadate of last point of the segment.
10. ZigLine:  show Zig Zag line, to set the parameters quickly.
11. FibonacciHH:  enable the Fibonacci value based on  maximum point of the prices .
12. ExtensionH: enable the Fibonacci extension
13. RetracementH: enable the Fibonacci retracement
14. ChannelExtensionH:  enable the Fibonacci channel extension, based on the superior oblique trend lines
15. ChannelRetracementH: enable the Fibonacci channel retracement, based on the superior oblique trend lines
16. FanH: enable the Fibonacci channel retracement, based on the superior oblique trend lines
17. FibonacciLL:enable the Fibonacci value based on  minimum point of the prices .
18. ExtensionL: enable the Fibonacci extension
19. RetracementL:  enable the Fibonacci retracement
20. ChannelExtensionL:  enable the Fibonacci channel extension, based on the inferior oblique trend lines
21. ChannelRetracementL:  enable the Fibonacci channel retracement, based on the inferior oblique trend lines
22. FanL:  enable the Fibonacci channel retracement, based on the inferior oblique trend lines
23. Segment:  Trasparency value of segments
24. Colors: Trasparency Colors of Fibonacci levels
25. Distance: Bars distance of Segment Values

You can set the retracement levels to receive a BreakOut signal. You can set it for any type of Fibonacci application like:

• ProBuilder
• ProScreener
• ProBackTest
• Alarms

Alarms:

ProBackTest

Fibonacci automated indicator, could be used as a signal for your automated strategy, the following example shows how to integrate the indicator into the ProBackTest code.

The following strategy is just an example of coding, not using it on the real market. Only a probacktest has been done!

ProScrenner

The indicator is sold with a ProScreener program (included for the same price), that scan the patterns in realtime, on any market and for any compatible timeframe

Advantages of using the “Fibonacci Automated indicator” :

• Automatically plot Fibonacci retracement, extension, channel, fan on the graph .”
• The levels are active, and  it can be used for breakout strategies!
• Compatible with all ordinary timeframes !
• Patterns are completely customizable to suit your own trading style
• Does not repaint! The signal breakOut is given in real-time and allows you to operate without any delay
• Can be integrated into any indicator, using ProRealTime’s ProBuilder function
• Can be integrated into any automated trading strategy, using ProRealTime’s ProBackTest function to test strategies
• The indicator is sold with a ProScreener program (included for the same price), that scan the patterns in realtime, on any market and for any compatible timeframe
• You will receive the screener for free
• This product works in any Futures, Forex or Stock/ETF Markets