External Fibonacci Cluster Identification Tool

[Sparrow 10]

I wrote this application a few months ago but it's not very sophisticated.

The program calculates fibonacci confluence based on the input of several fibs. Maybe someone can find some value in it.

 

It requires .net installed but that should be all you need. If someone is interested I can provide the source code.

 

Cheers

FibonacciCluster.zip

[walterw 10]

Is this for NT Sparrow ? thanks Walter.

[Sparrow 10]

No, it's a small windows application. It's not perfect by any means.

[OAC 10]

I want one that can automatically draw Fib Cluster on a chart without me lifting a finger. I think a vendor by the name of Roy Kelly has something like that. Does anyone have experience using it or something similar ?

[walterw 10]

I want one that can automatically draw Fib Cluster on a chart without me lifting a finger. I think a vendor by the name of Roy Kelly has something like that. Does anyone have experience using it or something similar ?

 

 

nexgen has one.. it costs 14k... lol

[zdo 20]

Sparrow,

 

What language did you write it in?

If VB or C++ or C# would be very interested in seeing the source.

Many thanks.

 

zdo

[Sparrow 10]

zdo,

 

it was my first and only real app in C#. I dunno VisualStudio(still on 2003 atm) that well yet, couldn't really find an export function for projects, that's why I zipped the whole thing. Hope you can get it to work if you're interested.

 

Btw the program runs out of colors for signaling confluence if there are a lot, never bothered to correct it.

 

Cheers

FibonacciClusterSrc_v09.zip

[Sparrow 10]

A few things could be improved:

 

- Make fib levels configurable

- Only print values in the table with confluence instead of using colors

 

But I've lost interest and have a few other projects that'd pay off better.

[pajusa 10]

Hey Sparrow,

 

The tool looks very interesting but how could we use this tool.

 

Do you have some quick cheat sheet to use this?

 

Thanks

 

pajusa

[Sparrow 10]

Hi pajusa, sorry I haven't used in a long while, and as coders are we're not very good at doing documentations if not to say abhor it.

 

As far as i know, insert the fib range numbers in the first 2 columns.

 

Let's assume 1.5330 to 1.5390, the 3rd column is for setting a value within two fib values have to be to produce a cluster.

E.g. 0.0003

 

Hope it makes sense and didn't confuse people even more.

The program it is still a very crude, I was just toying with ideas and as fickle as I can be, quickly abandoned them. There's a lot of room for improvement, which I am unfortunately not intending to do.

 

Cheers

[pajusa 10]

Hi Sparrow,

 

Do you have any pointers to read to use it more accurately.

 

Thanks

 

pajusa

[Sparrow 10]

The most well known 'trader'(?) who uses fib clusters is Carolyn Boroden, there's a presentation by her on CBOT

you can also listen to one of her interviews at this site.

[pajusa 10]

sparrow,

 

Thanks for the pointers, I have attended some of her sessions, she still is not that forthcoming. nevertheless it helps, I am going to look for her book.

 

Your fib cluster tool is an equally good start. I still did not understand the third column.

 

 

Thanks

 

paju

[Sparrow 10]

pajusa,

 

thanks for the link, I have no idea if she is really trading, with all the writing and seminars she does I guess she'd be well off without it.

 

Since values by fibs don't always match to the pip/tick it's necessary to allow them to be within a range of each other. Let's say you're satisfied with values which are 5 pips apart, for the EURUSD that'd be 0.0005.

 

Maybe that's a better explanation.

[pajusa 10]

That makes sense, so that value allows for any judgement calls

[Sparrow 10]

Dunno, experiment. Depends a lot on your instrument, the time frame you trade and probably some more parameters I haven't mentioned.

I never used it for anything else than entertainment and feeling smug.