Attached is a modified version of the Vegas Currency Daily.mq4
I added two models, Model 5 and Model 6. The original 4 models remain. I did not mess with the original code. I simply added two models.
Model 5 uses these fibonacci numbers: 610 987 1597
Model 6 uses these fibonacci numbers: 987 1597 2584
I created this because the Gold/Daily chart in MT4 does not fit into the first 4 risk models. I was almost happy with just the 5th model but a historical look showed an even wider spread on the outer fibs were necessary. Thus, model 6.
Any suggestions which model works best? I think 6 is a good choice but model 5 in a lot of places works well.
Attached is a modified version of the Vegas Currency Daily.mq4
I added two models, Model 5 and Model 6. The original 4 models remain. I did not mess with the original code. I simply added two models.
Model 5 uses these fibonacci numbers: 610 987 1597
Model 6 uses these fibonacci numbers: 987 1597 2584
I created this because the Gold/Daily chart in MT4 does not fit into the first 4 risk models. I was almost happy with just the 5th model but a historical look showed an even wider spread on the outer fibs were necessary. Thus, model 6.
Any suggestions which model works best? I think 6 is a good choice but model 5 in a lot of places works well.
Comments...
Ignored
I've tried... it doesn't seams to work. Maybe is the moving average that we have to change... not the fib number.
I did my research before posting and I posted all the fib values I used in both added models.
The fib sequence I used came from researching the Internet. I did not make these values up. Here are more numbers in the same sequence. Notice how the starting numbers all the way up to the values in Model 4 are the same.
The following is from the sequence Vegas provides in the 1 Hour Tunnel document that we use on all of the currency pairs:
Step 2. Memorize or write down and keep next to your trading screen the following fibonacci number sequence: 1,1,2,3,5,8,13,21,34,55,89,144,233,377
I just continued the sequence and added the next values into Model 5 and Model 6:
You do not have to use Model 5 and Model 6. However, they are in sequence from what Vegas uses and they reach out far enough to create outer fib lines that will assist in trading from the MT4 gold chart.
Yr Fib numbers are absolutely correct but gold moves in $0.10 per ounce unlike currency per pip. So yr fibo calculation based on the ema 28 will not be truely reflected.
I uses 4 models.
model 1 = 89 144 233
model 2 = 144 233 377
model 3 = 233 377 610
model 4 = 377 610 987
But in MT4 code, model 1 would have to be 340 550 890. Model 3 would be 2330 3770 6100.
