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MohamedYAbdelaziz

Fibonacci + RSI - Strategy

MohamedYAbdelaziz  
Relative Strength Index (RSI) Pivot Points Zig Zag Indicator Fibonacci
2506
64
relativestrengthindex pivotpoints zigzagindicator fibonacci
Strategy: Fibonacci + RSI:

- Intraday trading strategy (Scalping).


Time Frames Tested with best Results:
  • 30 Minutes.
  • 5 Minutes.
  • 15 Minutes.
  • 1 Minute


Indicators Used:

  • RSI (30 / 70)
  • Fibonacci (1 - 0.784)

How it Works:
Once the Price Hits the 1 or -1 Fibonacci Level and bounces a little bit, It checks the RSI if Over Bought or Over Sold According to 30 - 70.
If both conditions are satisfied, it triggers a Long or Short Positions.

Further Notes:
- I have put a Stop-loss with a 2% just for further upgrades.
- Not advised to use in High Volatility Markets.
- No Repaint was observed during a 2-Weeks Tests.


If you have any suggestions or modifications please contact to add.
If you have observed any bad behavior please contact to fix.

Trade wisely.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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