Short-Term Reversal + Fibonacci

This Short-Term Reversal plus Fibonacci indicator for TradingView is a complete automated trading system that identifies short-term market extremes and executes trades based on a rules-based approach its core function is to detect significant price movements over a user-defined lookback period such as a five percent move in five days and anticipate a countermove or reversal the system employs a multi-stage confirmation process beginning with the basic price movement signal which it then filters through volume analysis requiring above-average activity and through the RSI oscillator to identify overbought or oversold conditions the unique element is the integration of Fibonacci retracement levels which are automatically drawn from the recent swing high and swing low these levels serve as dynamic support and resistance zones and when a reversal signal occurs near a key Fibonacci level like the 38.2% or 61.8% it is classified as a strong high-confidence signal beyond signal generation the script handles risk management by automatically placing stop-loss orders and offers flexible take-profit targets that can be based on either Fibonacci levels or a fixed percentage profit it also includes an option for trailing stops for trade management visually the indicator plots all Fibonacci levels on the chart and marks entry signals with clear triangles below or above the candles while strong Fibonacci-confirmed signals are highlighted with distinct colors and a comprehensive info table in the top corner provides a real-time snapshot of all critical metrics including the current RSI price change and trade status this makes the tool a self-contained strategy ideal for traders focusing on short-term mean reversion who want their decisions reinforced by multiple technical confluences particularly the powerful combination of momentum extremes and Fibonacci structure all within a disciplined and automated framework