New York Weekly Fib | Forex Indicator Download - MT4/MT5 Resources

Introduction:

This is an experiment trade at your own risk Please see attachment below Please feel free to add your ideas for trading based on EUR/USD

index:

CanuckCT created an indicator.

Indicators are attached below. The indicator is a work in progress...the indicator is drawing small fibers in time for visual testing of entries, take profit and stop loss points.

The anchor pivot is calculated on the opening candle of Sunday 21st UTC_GMT at 5pm EDT

To shift, use only positive numbers.

Continue watching for 1 hour

Download Indicator and use the following settings (this is lab 1)
This is Attachment 1 (A1)
time range = W1
Bitcoin=1.11
BE = 0.50
BSL = -0.11
S&P=1.11
SE = 0.50
SSL = -0.11

Put the same indicator on another 1 hour view of EUR/USD and use the following settings (this is experiment 2)
This is Attachment 2 (A2)
time range = W1
Bitcoin=2.11
BE = 1.50
BSL = 0.88
S&P=2.11
SE = 1.50
SSL = 0.88

Short description:

Fib range is based on daily ATR(22)/2.
0 is anchored to the opening price.
Buy Fib starts at 0 and goes up.
Selling small fibers starts at 0 and then decreases.

If you want to buy 25% above the opening price, use BE = 25.
If you want to sell at 25% below the opening price, use SE = 25.
TP and SL are the same.
If you want BSL to be 0, then BSL = 0
If you want SSL to be 0, then SSL = 0
(Open, Buy Stop and Sell Stop labels will overlap.)

MM:

1. Transaction risks are borne by you
2. Calculate the loss you can tolerate based on your trading goals and trading plan, and modify the buy, sell, stop loss, take profit and lot sizes
3. Modify buying, selling, stop loss, take profit and lot size according to the trend

Comment:

1. I would like to see if, based on the above or a modification of the above, it would be profitable to trade from 5pm EST on Sunday evening to the final 5pm EST
2. Transaction risks are borne by you. CanuckCT and I take no responsibility for your wins or losses
3. Thanks to many FF members - 2005 to present