FibElliDott
5 to 15 Points of Confluence in Each FibElliDott
Last updated
5 to 15 Points of Confluence in Each FibElliDott
Last updated
In order to appear, the AlgoBox™ FibElliDott ("FibDot") requires at least five points of market structure confluence from Fibonnaci retracements, extensions, projections and Elliott Wave patterns. It is used in confluence with many setups that the AlgoBox™ trading system offers.
There are 6 types of FibElliDotts: Three bearish signals and three bullish signals.
The stronger the FibElliDott, the more points of confluence are present, up to fifteen points of confluence for the strongest dots: Bullish FibElliDotts: -Dark green: Moderate strength -Bright green: Strong -Blue: Strongest
Bearish FibElliDotts: -Dark red: Moderate strength -Bright red: Strong -Pink: Strongest
FibElliDotts are used in confluence with other indicators such as Harmonic Patterns, FlowMaster™ Crosses, FlowMaster™ Alpha-Omega Crosses to stack even more confluence for your trading analysis.
On rare occasions, shortly after the FibDot appears, price may continue moving beyond the FibDot - which would then be considered a "pierced" FibDot or potentially a Piercer strategy, if there are other factors of confluence supporting the Piercer strategy.
If price continues beyond the FibDot almost immediately, the FibDot may disappear.
The audio alerts you once a FibElliDott is plotted on the chart. You can customize these alerts by changing the audio to a preferred voice or sound, or turn them off entirely.
Sound Alert: Receive sound alerts when a FibElliDott is detected on the chart, with the option to add your own custom sound.
AlgoVoice: You can enable or disable real-time audio alerts as per your preference.
Voice Rate: You can customize the speed of the AlgoVoice alerts to your preference.
All custom sounds must be in .wav file format only.
Allows you to control how frequently the FibElliDott indicator recalculates. The Calculation sets the frequency of these calculation cycles. Customization allows for greater control over data update rates.
Calc Override: Default setting is unchecked. Check this setting to customize and utilize Calc Interval.
Calc Interval: Set your custom desired calculation interval. The smaller the number, the more frequently the indicator will recalculate, which increases processing load on your system's CPU. The default setting of 1000 is in milliseconds, which is equal to 1 second. If you wanted the FibElliDott to calculate every half second (twice as fast as default 1000ms), then you would enter 500 in this field.
Limit # Of Bars (Performance): Allows you to set the maximum number of bars calculated.
Strength of Swing: Represents the size and distance of the FibElliDott. A higher number indicates a larger swing size to be calculated before appearing on the chart. This may reduce the frequency of FibDots appearing.
This setting allows you to choose what you want to display: Bull, Bear, or HoneyBadger which shows Bull & Bear. Additionally, the Medium Confluence, Large Confluence, and King Confluence options let you customize the directional bias of the different FibElliDott levels.
Allows you to customize colors with various options, including Original, Protanopia, Deuteranopia, Tritanopia, Red-White-Blue, and Grayscale, to suit your preferences and visual needs.
Displays the current chart instrument, contract date and configurations applied.
Input Series: This setting determines which chart the indicator is displayed on, linking the indicator to the selected chart data.
Allows you to add a label, set the maximum bars to look back, and configure calculations based On Price Change, On Bar Close, or On Each Tick.
On Price Change: Updates the indicator only when there is a change in the instrument's price.
On Bar Close: Updates whenever a new bar closes, recalculating based on the finalized bar data to reflect the latest market conditions and changes in trends. Be mindful of whether you are using AlgoBars or range bars. This is the default setting for this indicator.
On Each Tick: Updates with every price change or tick in the market, providing real-time adjustments and reflecting the most current data. This setting increases CPU processing load.
Allows you to customize button colors, adjust the button placement, and modify the font type and size to suit your preferences. The Visual Settings shown are default settings which usually do not need to be changed unless specified in release notes or instructional video, live stream or on Discord etc. Auto scale is recommended to be unchecked.
Auto Scale: Automatically adjusts the indicator’s scale to fit within the chart’s price axis, ensuring it’s properly visible without manual adjustments.
Displacement: Shifts the indicator's plot forward or backward on the time axis. This setting is useful for aligning the indicator with price bars or other chart elements, especially in cases where you want to visualize future or past data relative to the current price.
Display in Data Box: Determines whether the values are shown in the Data Box, which is an on-screen display that provides detailed information about the current values when you hover over or click on the chart.
Panel: Specifies which panel or sub-panel the indicator is displayed in on the chart. Indicators can be placed in separate panels above or below the main price chart, allowing for organized and uncluttered visualization of multiple indicators.
Price Markers: Controls the display of markers or symbols on the price axis associated with the indicator's values. This setting helps highlight specific price levels or events directly on the price chart for better visibility and analysis.
Scale Justification: Determines where the indicator is positioned on the price scale, such as to the right or left side of the chart.
Visible: Toggles the overall visibility of the indicator, allowing you to hide or show it on the chart as needed.
All settings displayed in the settings image are the current default configurations provided by NinjaTrader and/or the AlgoBox™ Pro software, and may change at any time in future software updates without notice.
Only available on AlgoBox™ for NinjaTrader 8. Try AlgoBox™ for free today.
