RSI Fibonacci Levels Strategy

RSI with Fibonacci Levels

Visually can be used as:
- Countertrend indicator at extreme green/red lines
- Follow trend indicator
- Fibonacci supports and resistantes zones

The strategy works as a follow trend

How to trade:
The indicator is more reliable in longer time frames, at least 4H
Choose a fibonacci level as reference
Buy when the RSI line turns green
Sell when the RSI line turns red
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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