Guys - MACFibo indicator is on its way. I have submitted at mql4 website codebase and its awaiting moderator review. As soon as its available, will post the link here.
sufiansaid - its not a rocket science, at the end of day, its still mql4 only bro…right.?? I see the automating this strategy wont be difficult, will start working on it soon. BTW - do you take every trades generated by this system or you have some filter criteria as well e.g. rsi, news time. etc.??
Anyone else trading this system with success.?? Any trading on pairs except eurusd.??
Guys, as promised before, MACFibo indicator is out and ready for use. I have uploaded it at mql4 (link here) website and have updated my blog (link here ) as well. I have added a short description of system there. Below is the pic how it looks like…
guys - test it and let me know if it needs any modifications. Red lines are for short entries and green for long ones. Initially I thought of adding fibo levels as well but that would make chart too messy to understand. So i left fibo level for user to draw. (please don’t request to add that). Hope you guys like it…
MA5_now = iMA(NULL, 0, Fast_MA, 0, Fast_Mode, PRICE_CLOSE, i);
MA5_prv = iMA(NULL, 0, Fast_MA, 0, Fast_Mode, PRICE_CLOSE, i+1);
MA5_aft = iMA(NULL, 0, Fast_MA, 0, Fast_Mode, PRICE_CLOSE, i-1); // <== looking into future?
MA20_now = iMA(NULL, 0, Slow_MA, 0, Slow_Mode, PRICE_CLOSE, i);
MA20_prv = iMA(NULL, 0, Slow_MA, 0, Slow_Mode, PRICE_CLOSE, i+1);
MA20_aft = iMA(NULL, 0, Slow_MA, 0, Slow_Mode, PRICE_CLOSE, i-1); // <== looking into future?
// 5EMA cross above 20SMA UP
if((MA5_now > MA20_now) && (MA5_prv < MA20_prv) && (MA5_aft > MA20_aft))
This line, in human language means:
IF 5_MA of current bar above 20_MA of current bar AND
5_MA of previous bar below 20_MA of previous bar AND
5_MA of next bar above 20_MA of next bar
You are looking into future? I think this won’t work, there is no “future bar” for the present… I think this lines avoid fake signals in the past, but fake signals cannot be avoided in the moment that happens…
Yes for me and can’t speak for others and yes…
I havent touched programming for almost 10 years and I am sure programming language have evolved since then? So yes… it is rocket super duper ironman science to me.
I have covered regarding the filters several times in the thread and even in the pdf document. cheers.
Thank you for your time and also to any trader/programmers who are currently working on a Macfibo EA. I foresee this will become a hot topic (Macfibo EA) so, I’ve created a new thread for you guys to discuss about coding and so I with all the respect in the world and politeness to post anything to do with coding and EA in this thread instead. Thank you very much.
Let this thread purely on manual backtesting, manual trading and price action analysis. Thanks. Again thank you for the EA. I am sure it will be useful for others and myself/
Its not about looking into future buddy. A MA crossover is confirmed only on a closed bar. i-1 is the new bar on chart and signal is generated on its open. and MA crossed over between i and i+1. The indicator checks 2 prev bars to confirm the cross over.
May be you got confused with the names. You can rename them [ma20_aft to ma20_now and i-1 to i] , [ma20_prv to ma20_prv2 and i+1 to i+2], [ma20_now to ma20_prv1 and i to i+1].
if you have any doubts, then put it on your charts and see how beautifully it draws a new trends when it occurs…
Happy trading…
Please move to the appropriate thread.
Thanks Sufian! Now we can proceed with actual trading. I and sure many others will love to see this thread more trading charts and examples and no more EA discussions:)
And sure many would prefer to have an EA that implements this strategy. So please speak for you.
I have already moved to another thread.
Fascinating strategy, i was after one to compliment my trending strategy im using, and lol, looks like i might move to using yours permanently 
Hello Sufian,
Just let you know that I put on the thread of the EA some videos about opening and closing orders. There are still little of the strategy implemented but I would like, if you were so kind, look at the videos and say if it is well implemented, or what mistake I commited (if any).
http://forums.babypips.com/expert-advisors-automated-trading/44489-macfibo-ea.html#post348263
http://forums.babypips.com/expert-advisors-automated-trading/44489-macfibo-ea.html#post348264
Thanks in advance.
Hello, i will take a look once i am in my home office. I am using my iPad right now and seems cant view it… I am an iPad noob.
I will post Systwm Update next week, soory i have been occupied with babysitting for the pastt week…
Thank you for the interest. ask as many questions here and me and other members will be happy to help you.
Sufi,
You have been trading for years. I’m a newbie with just about a year of demo. Can u share with us on your story of how you “conclude” or “decide” to trade with 1H chart? I’m at a stage of deciding whether to stick to 15M, 30M, 1H or using all (to support)? Does it matter?
Thanks in advance.
JimmY
Thanks your very kind, i think i’ll read the other posts and give thr system a try before i ask the same questiona everyone asks the indicator looks quite good also, it just looks too easy to trade with it but ill know tuesday
Good question jimmy, allow me to answer you
I’d liek to start by saying that there is no better or worse TF to trade on, it’s dependent to our trading attitude and personality.
Althought, some stuff must be taken in consideration:
- Taking trades on H1 allow us to have a good balance on amount of trades taken over a certain period and profitability. What i’m saying refers ofc to the probability laws telling us that more trades we take, more risk we also run into. (ie trading on m5 and making 10pips each trade x 20 trades is less probable than making 2 trades on h1 x 100pips each without running into loses)
- Systems may or may not work with different TF, for many reasons
Regarding the second part of your post, higher TF analysis is very important for success and consistency in trading, althgouht this concept is not related to Macfibo only, but as general approach to financial markets
Hope it helps :51:
Ok thank you again. I’ll be waiting.