Fibonacci + RSI - Strategy

Strategy: Fibonacci + RSI:

- Intraday trading strategy (Scalping).

Time Frames Tested with best Results:
  • 30 Minutes.
  • 5 Minutes.
  • 15 Minutes.
  • 1 Minute

Indicators Used:

  • RSI (30 / 70)
  • Fibonacci (1 - 0.784)

How it Works:
Once the Price Hits the 1 or -1 Fibonacci Level and bounces a little bit, It checks the RSI if Over Bought or Over Sold According to 30 - 70.
If both conditions are satisfied, it triggers a Long or Short Positions.

Further Notes:
- I have put a Stop-loss with a 2% just for further upgrades.
- Not advised to use in High Volatility Markets.
- No Repaint was observed during a 2-Weeks Tests.

If you have any suggestions or modifications please contact to add.
If you have observed any bad behavior please contact to fix.

Trade wisely.
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.

Want to use this script on a chart?


@MohamedYAbdelaziz very nice strategy. However, the frequency of trades is very less. I observed that when I use it in the 1 minute timeframe, I barely get any short signals. Which timeframe according to you works best for this strategy?
+7 Reply
MohamedYAbdelaziz artisticUnicor46244
@artisticUnicor46244, I personally use this on all the daily time frames as stated in the description, the most profitable is the 30 minutes, then the 5 minutes.
From my perspective the number of trades doesnt matter as long as you stay in the green, that's why the strategy rules are a little bit tough which results in some fewer trades with higher probability.
+3 Reply
Today, I added in the Banknifty (India) but nothing is showing. Can you please help for me it is really appreciable.
+4 Reply
MohamedYAbdelaziz deveshverma0493
@deveshverma0493, Hey, I haven't tested this on the stock market to be frank, since i rarely do trade on that. but it seems to be working fine in popular stocks like apple and microsoft n so on..
probably its a little bit strict in the rules that this particular stock has not met for the past few months.. but i will take a look on that.
+1 Reply
VENKNUNE MohamedYAbdelaziz
It is really good, i checked it for BankNifty, it is not showing anything. I think there is some problem in using VWMA, if you change to EMA or WMA it is working but it not as expected. So, can you help to add VWMA to add NSE.
+1 Reply
@MohamedYAbdelaziz, HI Mohamed. Gr8 script. However i found very very less trades. on both 1 min/5min and 15 min charts. Around 3-8 trades in a month. Is that normal? Yes you are right. good profit ratio.
secondly, as said by devesh, unable to get trades for index - i noticed for both indian(nifty/niftybank) and US(Dow/S&p) is that bug? appreciate if you can help
+3 Reply
Did you plan to do a study version for alert?
+2 Reply
@5samnup, Yes why not.. but right now I am trying to add more options to this strategy to increase the profitability.. and after the proper tests with some good results I will post the next vesrion as an indicator with alerts..
+4 Reply
Fantastic very good job , I am looking for something similar to start developing my own fibo strategy.

Many thanks.
+1 Reply
@scancieitor, Can you send me your script after you're done? just to share knowledge.. Thanks man