Fibonacci Retracement 50 % Level Entry

[alvarosiegar]

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

[NinjaTrader_AlanP]

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.

[alvarosiegar]

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

[NinjaTrader_AlanP]

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.

[alvarosiegar]

Thank you very much!

That's what I was looking for.

[jhontorres]

hello i know this is old but i would like to know how i can get the example strategy download to my pc

[NinjaTrader_BrandonH]

Hello jhontorres,

Thank you for your post.

Please see the attached example strategy titled AtmStrategyFibRetracements that demonstrates drawing Fibonacci Retracements on the chart and entering an ATM order at the 50% price level of the Fibonacci Retracements drawing.

Let us know if we may further assist.

[jhontorres]

okay thank you so muuch

[mazpat_3]

Hello jhontorres,

Thank you for your post.

Please see the attached example strategy titled AtmStrategyFibRetracements that demonstrates drawing Fibonacci Retracements on the chart and entering an ATM order at the 50% price level of the Fibonacci Retracements drawing.

Let us know if we may further assist.

Thank you for posting the example strategy

What would this strategy look like if instead of creating an ATM order, it just created a signal (plot) when price touches that 50% level? Thank you

[NinjaTrader_BrandonH]

Hello mazpat_3,

Thanks for your note.

If you have a plot in your script, you could consider creating a condition that checks if the Close price (Close[0] is greater than or equal to the 'price' variable seen in the example script in post # 7.

Inside that condition you may set the plot to 1 to indicate the condition is true. When the condition is false, you could set the plot to 0.

This means when the plot is set to 1, the price is greater than or equal to the 50% level of the Fibonacci Retracements drawing. Otherwise, the plot is set to 0.

Please let me know if I may may assist further.