Fibonacci Trader - Metastock Formula Indicator

Fibonacci Trader- Fixed Balance Point

Fibonacci's numbers are a fundamental number system that exists within all aspects of the world including technical trading. Below is a metastock formula for the indicator function.


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;