Old Dog Fib Trading - EURUSD

First of all, thank you to Lao Gou for generously providing the formula for his strategy that he has been successfully trading for some time. The focus of this topic is to develop this strategy for EURUSD and see if it can be ported to other currency pairs.

This trading strategy is derived from Fibonacci and is not intended to be traded with other indicators.

The introduction of any other indicators not directly related to this trading method in its purest form will result in you being banned from posting on this thread. Any disrespectful comments will get you banned from the thread. Generally speaking, if you are a jerk and don't actively contribute to the post, you will be banned. I took inspiration from Steve Hopwood's post and I'm going to pull no punches about it!


The strategy relies on two pieces of data: a base level and a phase, and then calculates various ways to enter and exit trades on a daily basis.

Indicator development assumes the use of FXPro as a broker. Discussion of broker times and differences due to different feeds will be removed. Please download the FXPro demo. This is why - Post #91
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old dog formula

D is the daily closing price and M is the midpoint of the fib calculation (more on this as the thread progresses)

0.6747*D+0.3280*M
0.6743 * D + 0.3255 * M __________ 0.2502 * D + 0.751 * M
0.6735*D+0.3234*M

0.3349*D+0.6745*M
0.6676*D+0.3394*M
0.3336*D+0.6696*M
0.3519*D+0.6489*M
0.6743*D+0.3255*M
0.2966*D+0.6973*M
0.3328*D+0.6632*M
0.3286*D+0.6648*M
0.3320*D+0.6585*M

D is the "Daily Close" and M is the 50% Fibonacci level.

Remember: multiply the two first, then add the results.
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Logical first step:

1. Develop an indicator to determine current daily Old Dog trading levels
2. Gather the necessary indicators to determine the Fib level of the chart
3. Study methods for calculating base numbers
4. To study the method of calculating phase range, see post #38
5. Develop multiple trading styles using this method

I will try to provide a summary of the important links in this post.

Currently a coupon needs to be mailed. This will eventually be removed. I can add you as a friend if you need to post.

Now let's make something productive out of the ashes of Abonacci. (Editor - Abonacci rose from the ashes. Good luck to them!)

Background reading


Indicators Squalou Indicators Here Master’s Indicators Here

Old dog level calculator


EA
http://www.forexfactory.com/showthre...63#post4073863

Cheers Canuck CT