Fibonacci retracement filter

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I was thinking about a new strategy to implement in CP.Maybe also someone can give some advices on how to improve it.

So the strategy works like this. We will draw a trend line on higher time frame like h1.

Then we will go to lower timeframe like M5 and we will try to best catch retracements.


To best catch retracements we will use fibonacci retracements. I will post a picture so it will be more clear for everybody.

Another confirmation of entry that i use when i trade, is volume. When Price approaching Fibonacci line, and there is decreasing volume, is Good confirmation.

PS: I still need to try this strategy and find best way to use it.

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drago babnik
Quote from Andrey Khatimlianskyi

You want to fix Fibo till the end of the bar, but analyze the current price?

I would just like Fibo to be fixed on 1- 3 days (bars) and the carrent day would not change its values. I would trade (trigger) on TF 5 min.

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Andrey Khatimlianskyi
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Hmm. It has sense, let's implement it.

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Andrey Khatimlianskyi
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Done in 2.25

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Sai Pratap

We can also make a non-martingale set with this strategy. :)

Thanks.

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drago babnik
Quote from Sai Pratap

We can also make a non-martingale set with this strategy. :)

Thanks.

I hope we succeed. Fibo is quite time consuming in set optimization.

We now have Type: 1. On retracement; 2. On retracement + opposite direction. We need another 3. On opposite direction only.

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Andrey Khatimlianskyi
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Quote from drago babnik

I hope we succeed. Fibo is quite time consuming in set optimization.

We now have Type: 1. On retracement; 2. On retracement + opposite direction. We need another 3. On opposite direction only.

Ok, I will add it.

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Andrey Khatimlianskyi
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Andrey Khatimlianskyi
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Done in 2.25.4

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drago babnik
Quote from Andrey Khatimlianskyi

Done in 2.25.4

Hi, 

We have Fibo Type "On opposite direction only", but I don't think it works properly. It opens a new deals regardless of the Fibo level.
- I would expect the Fibo upward trend (0 -> 100) to open SELL only at values above the Fibo level.
- In the case of a downward Fibo trend, BUY should only open at values below the Fibo level.

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Andrey Khatimlianskyi
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Quote from drago babnik

Hi, 

We have Fibo Type "On opposite direction only", but I don't think it works properly. It opens a new deals regardless of the Fibo level.
- I would expect the Fibo upward trend (0 -> 100) to open SELL only at values above the Fibo level.
- In the case of a downward Fibo trend, BUY should only open at values below the Fibo level.

Why didn't you tell me this before? )

I'll fix it.