Saturday, May 16, 2009

Free Automatic Ambush Fibonacci Lines Thinkscript

Evolving storyline:

I've gotten a number of requests for a automated routine to draw Ambush Fibonacci levels onto ThinkOrSwim Charts like the Master Dave Halsey. The emails that I received so far from my visitors have told me about another website who attempted to do this but the results were astonishingly dismal. This does not surprise me, what does surprise me is the website owner is trying to sell his astonishingly dismal thinkscript as a solution for Ambush Fib. LoL...

I have a solution in the pipeline due out in June. As usual I will be charging $0.00 US Dollars for this so stay tuned and don't buy the scamscript.

----------------------------------- Update ----------------------------------------

HATTIP to FanBoy in the comments section he has pointed us to a location on the Internet where the auto fib code is posted. I wonder if any of the Thinkscripter pay sites stole their code from this website? Hummmm, something to think about...

Here is their code, I have not tested it. I'm just presenting this as one possible solution or a conceptual framework for you to use, extend or otherwise rework.

My code is different and will be coming out in June:
#This script is for intraday.
#length is for 800 minutes of the canddles.
#Use this with 1 Minute chart.

declare fullrange;
input length =800;

def DayHigh = HighestAll(high);
def DayLow = LowestAll(low);
Plot dh = DayHigh;
Plot dl = DayLow;

def hi = GetMaxValueOffset(high);
def lo = GetMinValueOffset(low);

def hitime = GetMaxValueOffset(DayHigh , length);
def lotime = GetMinValueOffset(DayLow , length);
def updown = if hitime >= lotime then 1 else 0;

def ud23 = if ( updown, 0.236, (1 - 0.236));
def ud38 = if ( updown, 0.382, (1 - 0.382));
def ud61 = if ( updown, 0.618, (1 - 0.618));
def ud78 = if ( updown, 0.786, (1 - 0.786));

plot uFib50 = (Dayhigh - DayLow) / 2 + DayLow;
plot uFib23 = (Dayhigh - DayLow) * ud23 + DayLow;
plot uFib382 = (Dayhigh - DayLow) * ud38 + DayLow;
plot uFib618 = (Dayhigh - DayLow) * ud61 + DayLow;
plot uFib786 = (Dayhigh - DayLow) * ud78 + DayLow;

Full credit to

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