Fibo Levels calc

Hello, i would like to use a fibo level strat., so i like to open buy order, if price touch 38,2 % retracement.

Low should be lowest point of last 10 candles and stochastic was under 20.
High should be highest point last 10 Candles and stochastic was over 70.

I tried, but not working with the levels.

Can anybody help with a example ?

regards Uwe

Hello,

check the example attached (long only)

Hello, thanks, I’ll try it 🙂

Hello tomas,
hm, no order will be opened.

Maybe it’s so much easier:
last Stoch Main under 20 is the Low, last Stoch Main over 80 is the High. Low should be 0 percent, high should be 100 percent. Now I want to open long if price is 38% retracement and TP 110%. Can you do such an example, with me that works with the percentage calculation somehow not.

thank you
Uwe

Hello tomas,
When I use the number of candles, the problem is that the number is different every time. Now I want to calculate the range from low to high with stochastics. I take for High: Indicator Highest with Stoch 5,3,3 and Period 10, for Low Indicator lowest Stoch 5,3,3 with 10 periods, but somewhere I have a mistake in it, because the stop is not moved. What is wrong ? Can u help ?

Do you mean you never know how many candles is between Low and High? You will never know, you can use longer period for Indicator Highest/Lowest or alternatively you can define a rule to “detect” Stochastic lowest point with bar index and then wait to detect Stochastic highest point and get value difference

You could use simple rule like

If Stochastics[3] > Stochastics[2] AND Stochastics[2] < Stochastics[1] => this going to be Stoch low with Stochastics[2] low price and similarly for the high price