FIBO Break Out
At 8:00 GMT:
- We are looking for the maximum and minimum by between 5:00 GMT and 8:00 GMT.
- We build the Fib from high to low, to set goals, support and resistance.
- We provide a 50% breakdown of the line closest to the minimum or maximum of the peak to the closest minimum.
- Waiting breakdown at 50% fib line or trend continue at this level.
- Enter at the break or on the rebound from the breakdown level.
- Take profit at the target level, or if it is held, adjusts our 50% of its line to the nearest high or low and wait for another input. (Please note that the inputs may be obtained also in the long and short levels)
- Fibo Bobokus adjusts to the new had appeared high or low, to see the new goals.
Repeat steps 3-7
It is worth noting: Taking long positions, you should build the Fib line from maximum to minimum of the last major movement before reversing, you are trading, to find support (19.1%) or resistance (80.9%), as is typical for the market to come back to these levels after the turn.
- The number of days per – calculation period in days. Default – 20 days.
- Start time range calculation – start time range. Default – “5:00”.
- End time range calculation – end time calculation range max and min prices over the period. Default – “8:00”.
- Restriction on the use of Fibo – Default – 30 points
- The format of the output range – 1-line, 2-rectangle. Default – a rectangle.
- on / off drawing Fibo Bobokus – display fib Bobokus. Default – enabled.
- Color drawing Fibo Bobokus – Fibo Bobokus color.
- Color vertical line – lines of color.
- Color drawing Rectangle – color of the rectangle.
- on / off beep START – forming a termination signal range.
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