Fibonacci Trader - Dynamic Multiple Time Frame Metastock Indicators Forex Trading Systems - XEATrade - Metatrader, Metastock, Tradestation, Amibroker

Description: Dynamic Multiple Time Frame Indicator Explanation of the Dynamic Multiple Time Frame Indicator by the author, Adam Hefner: "The Fixed Balance Point is calculated every Friday by taking the weekly (high+low+close)/3. It really doesn't need to be plotted, but is mostly used to base the other indicators from. The Fixed Balance Point Step, is a 5 week average of the Fixed Balance Point. The Dynamic Balance Point is the daily update of the Fixed Balance Point. The Dynamic Balance Point Step is the daily update of the Fixed BalancePoint Step. Robert Krausz teaches that by watching the balance point calculations of the longer (weekly) time, you have the market direction (trend) for the shorter (daily) time. He also revealed that the when the Dynamic Balance Point is above the Dynamic Balance Point Step, then the trend is up, and oppositeis true for down trend. I have found that these act in much the same way as a 5/25 moving average cross-over system. I like the Fibonacci Support & Resistance best of all, seems (IMHO)that these support/resistance areas are very easy to visualize using this formula."

FT-DBP

dt:=DayOfWeek();
DBC:=(HighestSince(5,DayOfWeek()=dt,H)+
LowestSince(5,DayOfWeek()=dt,L)+CLOSE)/3;
DBC

 
 
FT-Weekly Price Range Calculation

Mc1:=BarsSince(DayOfWeek()=1);
Fc1:=BarsSince(DayOfWeek()=5);
Fc2:=Ref(BarsSince(DayOfWeek()=5),-1)-1;
WRC:=If(Mc1=0 AND Fc1>2,
{then}Ref(HHV(H,LastValue(mc1)),-1)-
Ref(LLV(L,LastValue(Mc1)),-1),
{else}If(Fc1=0 AND Mc1>5,
{then}HHV(H,LastValue(Fc2))-
LLV(L,LastValue(Fc2)),
{else}If(Fc1=0,
{then}HHV(H,LastValue(Mc1))-
LLV(L,LastValue(Mc1)),
{else}0)));
WRP:=ValueWhen(1,WRC>0,WRC);
{Resistance Range}
RR1:= FmlVar("FT-FBP","FBP")+(WRP*.5);
RR2:= FmlVar("FT-FBP","FBP")+(WRP*.618);
{Support Range}
SR1:= FmlVar("FT-FBP","FBP")-(WRP*.5);
SR2:= FmlVar("FT-FBP","FBP")-(WRP*.618);
{Plot Ranges}
RR1;
RR2;
SR1;
SR2;
  

FT-Dynamic Balance Point Step 
DPS:=(ValueWhen(1,FmlVar("FT-DBP","DBC"),
FmlVar("FT-DBP","DBC"))+
ValueWhen(5,FmlVar("FT-DBP","DBC"),
FmlVar("FT-DBP","DBC"))+
ValueWhen(10,FmlVar("FT-DBP","DBC"),
FmlVar("FT-DBP","DBC"))+
ValueWhen(15,FmlVar("FT-DBP","DBC"),
FmlVar("FT-DBP","DBC"))+
ValueWhen(20,FmlVar("FT-DBP","DBC"),
FmlVar("FT-DBP","DBC")))/5;
DPS;

 
  

FT-FBP 
Mc1:=BarsSince(DayOfWeek()=1);
Fc1:=BarsSince(DayOfWeek()=5);
Fc2:=Ref(BarsSince(DayOfWeek()=5),-1)-1;
{Fixed Balance Point Calculation}
FBC:=If(Mc1=0 AND Fc1>2,
{then}(Ref(HHV(H,LastValue(mc1)),-1)+
Ref(LLV(L,LastValue(Mc1)),-1)+
Ref(C,-1))/3,
{else}If(Fc1=0 AND Mc1>5,
{then}(HHV(H,LastValue(Fc2))+
LLV(L,LastValue(Fc2))+C)/3,
{else}If(Fc1=0,
{then}(HHV(H,LastValue(Mc1))+
LLV(L,LastValue(Mc1))+C)/3,
{else}0)));
{Fixed Balance Point Plot}
FBP:=ValueWhen(1,FBC>0,FBC);
FBP;

 
 
 

FT-Fixed Balance Point Step

FPS:=(ValueWhen(1,FmlVar("FT-FBP","FBC")>0,
FmlVar("FT-FBP","FBC")) +
ValueWhen(2,FmlVar("FT-FBP","FBC")>0,
FmlVar("FT-FBP","FBC")) +
ValueWhen(3,FmlVar("FT-FBP","FBC")>0,
FmlVar("FT-FBP","FBC")) +
ValueWhen(4,FmlVar("FT-FBP","FBC")>0,
FmlVar("FT-FBP","FBC")) +
ValueWhen(5,FmlVar("FT-FBP","FBC")>0,
FmlVar("FT-FBP","FBC")))/5;
FPS

Author/Source: http://www.guppytraders.com

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