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.

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

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

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?


+1 Jawab
I add it to favorites with the button but it does not appear in the list of favorites
mohanee wsport3
@wsport3, did you search in the public library ?
wsport3 mohanee
@mohanee, Yes, which is the name exactly? Thank you
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