SandroTurriate

Vegas Tunnel

405 1 50
This indicator adds and subtracts fib levels from the moving average . I suppose profits are meant to be taken at certain levels. Additionally, it may help in finding tops and bottoms. There's more info here: http://www.forexstrategiesresources.com/metatrader-trading-system-mt4/103-vegas-tunnel/

The fib levels should be changed depending on time frame:
short) 5, 8, 13, 21
intermediate) 34, 55, 89, 144
long) 55, 89, 144, 233
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study("Vegas Tunnel", overlay=true)
length = input(21, minval=1)
fib1 = input(55)
fib2 = input(89)
fib3 = input(144)
fib4 = input(233)

avg = ema(close, length)

fp1 = syminfo.mintick*fib1
fp2 = syminfo.mintick*fib2
fp3 = syminfo.mintick*fib3
fp4 = syminfo.mintick*fib4
plot(avg, color=fuchsia, linewidth=2)

plot(avg + fp1)
plot(avg + fp2)
plot(avg + fp3)
plot(avg + fp4)

plot(avg - fp1)
plot(avg - fp2)
plot(avg - fp3)
plot(avg - fp4)
MikaGlogy
a month ago
thank you for this script, this is the best what im founded! thank you thank you thank you!
Reply
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