mohanee

Follow the Trend with Fib support Levels

This is trend following strategy. Which takes entries on the pullbacks when long term trend is up.

It allows you to enter / add on pullback of Fib 0.618 of prebious N number of candles. I have defaulted this to 9.



BUY
====
1. Long term trend is UP i.e ema 50 is above ema 200
2. wait for Fib0.618 pulls back to trend zone (orange line )
3. when the close cross above Fib0.618 line , Enter BUY or ADD to existing position

Exit
====
1. Wait for Fib0.618 come out of Trend zone
2. close partial , when price cross down below Fib0.236

Stop Loss
========
1. Stop Loss set as Trailing Stop Loss , defaulted to 5%

you can also use ATR as trailing stop loss.


I have tested with SPY , QQQ and AAPL on hourly chart

Warning
========
for the use of educational purpose only. If you want to trade the startegy signals, please do yor own research.
Skrip terproteksi
Skrip ini dipublikasikan secara closed-source dan anda dapat menggunakannya dengan bebas. Anda dapat memfavoritkannya untuk digunakan pada grafik. Anda tidak dapat melihat atau mengubah kode sumbernya.
Inggin menggunakan skrip ini pada chart?

Komentar

AWESOME
+1 Jawab
I add it to favorites with the button but it does not appear in the list of favorites
Jawab
mohanee wsport3
@wsport3, did you search in the public library ?
Jawab
wsport3 mohanee
@mohanee, Yes, which is the name exactly? Thank you
Jawab
mohanee wsport3
@wsport3, when you open the indicators list , try searching for follow the trend

then you will see list of indicators below , see for my name mohanee and select that

Have fun
Jawab