Fibonacci Bands [Starbots]
We are using VWMA as basis of price Moving Average. Then we calculate the deviation of this Basis using multiplier, similarly to what we do on Bollinger Bands and search for Fibonacci targets using basis price as 0.0 instead of close price of previous high/low pivots.
Recommended parameters can be found in inputs << [Multiplier] Band(1.5-2-3✅) >>
This strategy is quite easy to setup on 5min -1h charts and it's highly profitable. I don't recommend using Stop Loss.
Use Take Profit to catch some pumps, set your Basis, Multiplier and Fib targets nicely and that's about it. Let the strategy ride the market.
+Added DCA order deviation % function.
Invite-only script
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Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact Starbots directly.
Note that this private, invite-only script has not been reviewed by script moderators, and its compliance with House Rules is undetermined. TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.