See here.

ICCE. Bemac's Fib. Reverse Engineered

Chart- kihl's fib tool — Thank you! This will be very useful for observing the fib levels on different timeframes on the same chart. Just change the colors.

Fib. Reverse Engineered.

Too cold. Too cold.

ICCE. Bemac's Fib. Reverse Engineered

You might want to start a thread with this same info over in the Programing Discussion section of the board. Someone there might already have an indicator for this, or if they're interested enough in the concept they might create it. Good luck.

Reverse RSI

Chart Overlay Indicator — Here's the indicator that allows you to do overlays. Open a regular chart, then open the indicator. When the dialogue box opens type in the pair you want to overlay on the first line (EURUSD, USDJPY, etc.), and make ...

ICCE. Bemac's Fib. Reverse Engineered

Reply to Bemac — Hey have a blessed weekend Bemac. You are quite fortunate, I have a granddaughter and they are the cream of life. :0) I wanted to say thanks also for opening this up for us. If you didn't make another post on this topic I've ...

ICCE. Bemac's Fib. Reverse Engineered

Charts- Audusd-eurusd — Fooling around. Plotted the most recent channel on AUDUSD (first chart). Then overlayed a chart of EURUSD (orange and green candles). Hmmm....

ICCE. Bemac's Fib. Reverse Engineered

Chart- Reply to smjones — My suspicion is that it's going to run back to the channel that Bemac posted earlier.

ICCE. Bemac's Fib. Reverse Engineered

Indicator — This is the version of the indicator that I like the best (right now- haven't tried them all yet). It's the one Cobra posted where you can adjust the line width.

ICCE. Bemac's Fib. Reverse Engineered

Open it from your Navigator in MT4. Right click the indicator, select "Modify". Regarding the gbpusd daily chart you posted. I'm gonna take a stab and say "down". If you go to the Weekly chart it followed the same channel for over a year in ...

Fib. Reverse Engineered.

BTW, I think that gbpusd chart is a good example of what Bemac is talking about with the price returning to its channel.

Fib. Reverse Engineered.

That's the way I see it. This is currently the way I'm using Scott's indicator. I first pull up a line chart, then identify the channel with horizontal lines (first chart). Then I open the indicator and put the top and bottom values from my ...

Fib. Reverse Engineered.

I get it now. Yes I think I will use this.

Fib. Reverse Engineered.

Hey Scott, what TF does it plot the channel on?

Fib. Reverse Engineered.

That's pretty sweet.

Fib. Reverse Engineered.

Trading the breakout didn't work too well for me. Then again, I think I had some poorly defined channels. Need to wait until the market gives something better. Studying the indicator now...

Fib. Reverse Engineered.

Trying again. This time shorting sterling. Target the 61.8% line @ 1.4610.

Fib. Reverse Engineered.

Well that went real swell.

Fib. Reverse Engineered.

I'm not using the indicator yet. I need to study it more. But I manually fibbed out a channel on the eurusd and I have a buy order in @ 1.3205- targeting 1.3230 (or the 38.2 Fib) for my TP. It should be known I plotted the channel with a line chart.

Fib. Reverse Engineered.