CryptoRox

Automated - Fibs with Limit only orders

Automated - Fibs with Limit only orders

This script was designed to demonstrate how you can use a single alert to move your limit orders around.

It is not meant to be traded live and has been built to work with Binance Futures Testnet.

You will notice a lot of plots with 5 different titles.

New = Place your limit buy at a fixed-price.
Move = Cancel the current limit buy and place it at the new fixed-price.
Filled = Cancel any limit closes and places them anew based on the new average and take profit.
Cancel = Cancels exisiting limit buys.
Cloes All = Limit close filled, no commands necessary.

The default quantity in the command is the minimum order size on Binance.


Settings

Live
- If enabled it will only place trades after the "Stat Timestamp + Start Delay" that you provide.

Start Timestamp
- Use something similar to epochconverter to get the current timestamp.

Start Delay
- Gives you 1 minute by default to start the script and create your alert before it begins looking for a new entry.

Leverage
- Default 1. Affects the "Take Profit and DCA When" Settings.

Take Profit %
- This is the percentage above the current average you'd like to place your position close at.

DCA When %
- The percentage below your last entry that you're willing to buy again.




Note: This strategy has no stop-loss and pyramiding is enabled. It is not built for, or recommended to run live.

I hope this opens some doors and helps advance your personal trading system.
Good luck and happy scripting!

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.

Want to use this script on a chart?