Anyone find a suitable Fibonacci indicator for mt4?
Or can explain how to keep drawing new ones every candle
I think it falls under fibonacci extensions or dynamic fibonacci extensions. I’ll try to find a suitable one soon too 
There’s a manual way to do it but it’ll be too tedious. We definitely need an indicator for this.
Hey guys, I’m still figuring out how to get this dynamic fibonacci retracement and extension tool to you guys. Currently I don’t quite see any other system like it, which is quite frustrating. I’ll try my best to find one, if not, code one for you guys alright!
Perhaps you could describe what this indicator is supposed to do, and a member here could code it up?
Question: If it wasn’t “dynamic”, would the indicator be an ordinary Fibonacci extension? If it is, from what I remember, you need to draw the extensions from a swing high/low point to a swing low/high point. So then it becomes a question of determining the swing highs and lows and basing the extensions off those. ZigZag indicator could be used to determing the hi-lo points.
Hi Harri, great to hear from you I like to believe it is a simple fibonacci extension, but it seems to be much more selective on the key levels as you can see there are much fewer lines as compared to a normal fibonacci extension/retracement. I will speak to the developer of this and seek to clarify this. And that’s a good suggestion, the zigzag indicator is really good in determining the hi-lo points
It seems to be some sort of fibonacci points off moving average levels. Quite complex. I’ll update you guys more when I can find more information on it!
Hey buddy, the indicator looks like a good indicator to use We’ll try that out and see how it works alright? Thanks for searching for a suitable indicator man!
What are the rules?
Hi, Commander Desmond
I want to clarify your descriptions. At step 6, you say “Usually the Galaxy Trades site would have some sort of average TP and SL level to be recommended, you can use that to confirm your TP/SL level too”. Can you explain more this? What is the galaxy site? Are you talking about your enetring point? How do you decide your entering price for the short trade?
The second question is about your report from 1/4/2014 to 15/5/2014 from FXDD platform. You add in comment section for easier understanding your performance. I am confusing. Your pips are variable. Are you manually exit or auto exit? You said your TP is the next dynamic fibo level. It seems to me when you set up your trade you do not know your TP level because fib levels are dynamically changed. Is this the case?
Brian
Sorry for the late reply buddy, have been really busy with the system. Ah the rules, the rules is to trade based on a combination of dynamic fibonacci retracement/extensions across 2 times frames (the more the better, actually) with a combination of Bollinger Bands and the Galaxy Trades voting system. For more specifics, I think I mentioned some in the first post, i will get down to editing it to be more detailed very soon if it would help you.
Hopefully that answers your question? I would be more than glad to help out more, just ask me any question
Hello Brian, great to hear from you!
The Galaxy Trades Site is a separate free-to-use platform I designed to help users all coordinate and trade better. You can google it and you should be able to find it If you still can’t, feel free to PM me And yes, I’m talking about both the entering point and the TP/SL levels.
My TP level is constantly changing because of dynamic fibonacci. Because it is the 1-hour and 4-hour charts, the fibonacci levels don’t change that much and so I can manually monitor when to exit the trade
I hope my replies help a bit, I would be glad to answer any more of your questions of course! Looking forward to hearing from you, B
[B][U]Update 6/6/2014[/U][/B]
I believe the system is apparently based on a dynamic fibonacci levels off certain moving averages if I’m not wrong. It is uncanningly accurate and worse come to worst, I’ll just try to have a live screen sharing platform for everyone to view it as and when they like for free
Hi Albert, there is no information about the India share market buddy, it’s a big market but we’re discussing forex here so I’m sorry that I can’t provide any information on it ><