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  • #238072|
    Participant
    115 Posts

    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

    #238078
    tomas262
    Administrator
    1105 Posts

    Hello,

    check the example attached (long only)

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    #238099
    Participant
    115 Posts

    Hello, thanks, I’ll try it :)

    #238600
    Participant
    115 Posts

    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

    #240999
    Participant
    115 Posts

    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 ?

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    #241050
    tomas262
    Administrator
    1105 Posts

    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

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