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