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***RebateFX*** · 05-11-2007, 07:56 PM

Ever wanted both Fibonacci Retracements AND Extensions in MT4?

Here's how to reconfigure it.

1) First, draw a Fibonacci Retracement using the tool in MT4.
2) Next, bring up the objects menu (ctrl-b), choose the Fibo object and click edit
3) Choose the Fibo Levels tab and delete the existing levels.
4) Enter the following levels in....

Code:

Level          Description

0                   0.0

0.236             23.6

0.382             38.2

0.5                50.0

0.618             61.8

0.786             78.6

0.86               86.0

1                  100.0

-0.18             118.0

-0.27             127.0

-0.382           138.2

-0.618           161.8 

-1.618           261.8

-3.236           423.6

Now, every time you draw fibonacci levels in, you also get the extensions. Smile

Enjoy!

FxLoser · 21-08-2008, 10:25 PM

Thanks for the tip!. I don`t know, but for some reason my objects menu has been failing to pop up many times. so, i had to use the mouse shortcut... I guess it`s possible to get both retracements and extensions using different TFs or compressing the chart...

Bopkasen · 31-12-2008, 12:46 AM

What does the extensions for Fibonacci do?

Can you show a screenshot?

heshambakr · 05-02-2009, 11:41 PM

i depend always on the feb at the begining of the day to know the direction of the movement expected and i have always two point of view one large view that feb is located on the historical high and the other view is the last daily high and i compare the moment position to these two feb levels

~~shaoyinwang~~ · 20-04-2009, 06:25 PM

may you upload a picture ,that will be easy to understand.

candero · 13-05-2009, 06:29 PM

as i understand, fibo follows the principle that at the resistance level price will drop/rise from the peak to a certain level (0.382%, 0.5% etc). if i draw the fibo lines in MT, they are not mathematically accurate. am i missing something here or what?

bill897 · 20-09-2011, 08:03 AM

I found if I change the Fibo Extensions.Mq4 file and recompile it using your extension levels, than it does not have a problem with resetting to what's in the program as follows:

string fiboobjname = "Fibo";
ObjectSet(fiboobjname, OBJPROP_FIBOLEVELS, 14);
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL, 0);
ObjectSetFiboDescription(fiboobjname,0,"0.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+1, 0.236);
ObjectSetFiboDescription(fiboobjname,1,"23.6 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+2, 0.382);
ObjectSetFiboDescription(fiboobjname,2,"38.2 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+3, 0.5);
ObjectSetFiboDescription(fiboobjname,3,"50.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+4, 0.618);
ObjectSetFiboDescription(fiboobjname,4,"61.8 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+5, 0.786);
ObjectSetFiboDescription(fiboobjname,5,"78.6 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+6, 1);
ObjectSetFiboDescription(fiboobjname,6,"Swing 100.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+7, -0.18);
ObjectSetFiboDescription(fiboobjname,7,"118.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+8, -0.27);
ObjectSetFiboDescription(fiboobjname,8,"127.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+9, -0.382);
ObjectSetFiboDescription(fiboobjname,9,"138.2 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+10, -0.618);
ObjectSetFiboDescription(fiboobjname,10,"161.8 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+11, -1.618);
ObjectSetFiboDescription(fiboobjname,11,"261.8 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+12, -3.236);
ObjectSetFiboDescription(fiboobjname,12,"423.6 %$");
ObjectSet( "Fibo", OBJPROP_LEVELCOLOR, FibColor) ;

And at 100.0 there is a Swing Factor as you're swinging up or down
trend. Then you recompile these changes. Get out of MetaEditor
(Fibo Extensions.mq4) and walla: There it is!

***RebateFX*** · 24-09-2011, 07:13 AM

(20-09-2011 08:03 AM)bill897 Wrote: I found if I change the Fibo Extensions.Mq4 file and recompile it using your extension levels, than it does not have a problem with resetting to what's in the program as follows:

string fiboobjname = "Fibo";
ObjectSet(fiboobjname, OBJPROP_FIBOLEVELS, 14);
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL, 0);
ObjectSetFiboDescription(fiboobjname,0,"0.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+1, 0.236);
ObjectSetFiboDescription(fiboobjname,1,"23.6 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+2, 0.382);
ObjectSetFiboDescription(fiboobjname,2,"38.2 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+3, 0.5);
ObjectSetFiboDescription(fiboobjname,3,"50.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+4, 0.618);
ObjectSetFiboDescription(fiboobjname,4,"61.8 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+5, 0.786);
ObjectSetFiboDescription(fiboobjname,5,"78.6 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+6, 1);
ObjectSetFiboDescription(fiboobjname,6,"Swing 100.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+7, -0.18);
ObjectSetFiboDescription(fiboobjname,7,"118.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+8, -0.27);
ObjectSetFiboDescription(fiboobjname,8,"127.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+9, -0.382);
ObjectSetFiboDescription(fiboobjname,9,"138.2 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+10, -0.618);
ObjectSetFiboDescription(fiboobjname,10,"161.8 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+11, -1.618);
ObjectSetFiboDescription(fiboobjname,11,"261.8 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+12, -3.236);
ObjectSetFiboDescription(fiboobjname,12,"423.6 %$");
ObjectSet( "Fibo", OBJPROP_LEVELCOLOR, FibColor) ;

And at 100.0 there is a Swing Factor as you're swinging up or down
trend. Then you recompile these changes. Get out of MetaEditor
(Fibo Extensions.mq4) and walla: There it is!

Thanks for that. A more elegant solution if you are a programmer. That reminds me. I really do need to get back into learning c++ so I can branch out to mql Wink

bill897 · 26-09-2011, 11:26 PM

I don't know enough about Fibo Extensions in that it lets people know when a possible top is hit and at what % extension do you get in and what % extension do you get out. This is where you would set your "take profit".

I've got another problem. After zero instead of -118, -127, -138.2, shouldn't it be -18.0, -27.0, -38.2? I made the changes as follows:

string fiboobjname = "Fibo";
ObjectSet(fiboobjname, OBJPROP_FIBOLEVELS, 14);
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL, 0);
ObjectSetFiboDescription(fiboobjname,0,"0.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+1, 0.236);
ObjectSetFiboDescription(fiboobjname,1,"23.6 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+2, 0.382);
ObjectSetFiboDescription(fiboobjname,2,"38.2 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+3, 0.5);
ObjectSetFiboDescription(fiboobjname,3,"50.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+4, 0.618);
ObjectSetFiboDescription(fiboobjname,4,"61.8 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+5, 0.786);
ObjectSetFiboDescription(fiboobjname,5,"78.6 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+6, 1);
ObjectSetFiboDescription(fiboobjname,6,"Swing 100.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+7, -0.18);
ObjectSetFiboDescription(fiboobjname,7,"-18.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+8, -0.27);
ObjectSetFiboDescription(fiboobjname,8,"-27.0 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+9, -0.382);
ObjectSetFiboDescription(fiboobjname,9,"-38.2 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+10, -0.618);
ObjectSetFiboDescription(fiboobjname,10,"-61.8 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+11, -1.618);
ObjectSetFiboDescription(fiboobjname,11,"-1.618 %$");
ObjectSet(fiboobjname, OBJPROP_FIRSTLEVEL+12, -3.236);
ObjectSetFiboDescription(fiboobjname,12,"-3.236 %$");
ObjectSet( "Fibo", OBJPROP_LEVELCOLOR, FibColor) ;

Are these externsions correct? When recompile it in your mq4, look, install the indicator, and does it look right on the screen?
Your help would be helpfull. Smile