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Old 05-15-2018, 05:58 PM   #1
alvarosiegar
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Default 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 at 06:01 PM.
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Old 05-16-2018, 08:50 AM   #2
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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.
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Old 05-16-2018, 03:12 PM   #3
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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
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Old 05-16-2018, 04:03 PM   #4
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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 Images
File Type: png Retrace.PNG (139.0 KB, 15 views)
Attached Files
File Type: zip SubmitEnterLongLimitAtHalfRetracement.zip (1.1 KB, 27 views)
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Old 05-17-2018, 03:59 PM   #5
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Thank you very much!

That's what I was looking for.
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