This version does not worry about keeping orders in the books and moving them around, instead it will simply market in and out. I am sharing this to reveal the difference between the 2 setups.
What indicator can I combine this strategy with? It is really very profitable, but it can be misleading in a bear market.
cabierman
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Love this, thank you!
Heg10
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Bom dia, Repinta ?
jellygill
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It is good script, but all the trades taken are Long trades only. Is it possible to flip the code to take Short Trades?
tjdwns8223
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Is it difficult to turn strategy into indicators?? I am a beginner. T,T
OutsourcE
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Awesome.Thanks!
Can you please suggest what the fib snippet actually does in the script?what actually affects if i choose ,for e.g. entry 1 or entry 2 option?
CryptoRox
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@OutsourcE, Great question. The settings, starting at 1 will change the fib level you're looking for the price to crossunder. Setting 1 is the lowest support calculated, every setting above that increases the support level you're watching for that cross.
Depending on the TF and market, the support level you choose may not actually be below the current price and will therefore never "crossunder". This is more noticeable on lower timeframes.
You can remove the comments on line 132 and 133 to plot the support level to see it change. If it's green, you'll take the entry, if it is red, you will not.
tldr; setting 1 is the lowest support and setting 10 is the highest. Only if the price is above the current support level will you for an entry.