Pershikov Fibonacci Retracement
5 The indicator plots the Fibonacci retracements in accordance with the recommendations of the lifetime V.V.Pershikova trend. All parameters are configurable lifetime. Construction takes place only at the moment of accession to the schedule, and at the time of zooming. This is done to improve performance, if the indicator is to be reconstructed on each tick, things will slow down because of the large number of calculations related to test the breakdown level of 61.8. After building retracement indicator may change hands to build. So that the indicator is not brought down the manual changes, it must be removed from the chart, retracements is not deleted.
The indicator was developed in collaboration with VV Pershikov.
- EndBarNumber = 1 - This parameter is used to determine the last candle, which build up a retrace. The default is 1 - this is the penultimate candle on the chart (0 - current). Current candle is not yet complete, so if you put 0, then we must be prepared to redraw.
Trend break parameters - Adjustable parameters for the breakdown of the trend.
- TrendBreakEndLevel = 0.618 - Level, which must be broken to be considered a "cancel" on the trend and the breakdown of which is being verified by the construction of retracements. The default setting for V.Pershikovu 61.8.
- TrendBreakCandlePercent = 100 - The percentage of the real body, which must penetrate the established level of cancellation of the trend to the cancellation has been fixed. Attention! According V.V.Pershikovu this percentage = 66%. The default display is worth 100%. Those. all the body of the candle must be above / below the level.
- ShowAdditionalLevels = false - at a value of True indicates additional levels of 76.4, 85.4, 91.
Next come the construction of settings retracements for each timeframe. I will describe only the H1 setup, the rest - by analogy.
- NameH1 = "PRH1" - The name Fibonacci Lines
- TrendMinBarsH1 = 10 - The minimum number of H1 TF bars in the trend, which is built on the retracement
- TrendMaxBarsH1 = 400 - The maximum number of H1 TF bars for building retracement
- TrendMinSizeH1 = 0 - The minimum number of pips in the trend (which is pips - no points, ie EURUSD 1.10182 item - mark 4 (8), pip - 5th (2)), if it is less, it will be considered that there is no trend.
- FiboColorH1 = Purple - Color retracement. Is taken as the default in V.Pershikova
- FiboStyleH1 = 0 - Style reyreysmenta lines (dashed, dash-dotted)
- FiboWidthH1 = 1 - The thickness of the retracement lines
- BreakCheckStep = 1 - parameters that affect performance. Breakdown trend calculation is not conducted to each candle, and by the number of suppositories, the above parameter. If performance issues are not observed, leave the default.
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