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Fibonacci Retracement 50 % Level Entry

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    Fibonacci Retracement 50 % Level Entry

    Hi,

    I´m new in the forum, so don´t really know if this is the appropiate place to post my question. I have the following issue: i want to code the following as part of a custom strategy, but don´t know how to. What I want to do is:

    1-Draw a Fibonacci Retracement with 100% at the lowest point of 10 bars ago and 0 % at highest point of current bar.

    2- Place an ATM Strategy entry when the price touches the 50% level.

    What I really have trouble with is point 2. I´m already capable of plotting a Fibonacci Retracements object with those parameters, but don´t know how to obtain by code that 50 % level and place an entry exactly there.

    I´d really appreciate some help. Thank you!

    Alvaro
    Last edited by alvarosiegar; 05-15-2018, 06:01 PM.

    #2
    Hello alvarosiegar,

    Thank you for writing in.

    If you could provide a sample script which will plot the fib retracements, I could take a look at how to grab the 50% level.

    I look forward to your reply.
    Alan P.NinjaTrader Customer Service

    Comment


      #3
      Hello again,

      The way I found to plot the fib retracements is:

      DrawFibonacciRetracements("example", true, 10, Low[10], 0, High[0]);

      I don't know if that is the most efficient way to then grab the 50 % level.
      Maybe this helps: what I need is to grab the 50% level to place an entry order. I'm drawing it, but it doesn't really matter for my strategy if the retracements aren't actually drawn.

      Thank you! I look forward to your reply

      Comment


        #4
        Hello alvarosiegar,

        The attached strategy will submit a Limit bid order at the 50 percent retracement.

        When you apply the strategy I suggest applying to a 10 minute chart, the strategy is set to run with CalculateOnBarClose set to false.

        Please let us know if you need further assistance.
        Attached Files
        Alan P.NinjaTrader Customer Service

        Comment


          #5
          Thank you very much!

          That's what I was looking for.

          Comment

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