🟩 INTRODUCTION Hello, everyone! Please take the time to review this description and source code to utilize this script to its fullest potential.
🟩 CONCEPTS This is a trend indicator. The trend is the 0.5 fibonacci level for a certain period of time. A trend change occurs when at least one candle closes above the level of 0.236 (for long) or below 0.786 (for short). Also it has massive amout of settings and features more about this below.
With good settings, the indicator works great on any market and any time frame!
A distinctive feature of this indicator is its backtest panel. With which you can dynamically view the results of setting up a strategy such as profit, what the deposit size is, etc. Please note that the profit is indicated as a percentage of the initial deposit. It is also worth considering that all profit calculations are based on the risk % setting.
🟩 FEATURES First, I want to show you what you see on the chart. And I’ll show you everything closer and in more detail. 1. Position 2. Statistic panel 3. Backtest panel
Indicator settings: Let's go in order: 1. Strategies This setting is responsible for loading saved strategies. There are only two preset settings, MANUAL and UNIVERSAL. If you choose any strategy other than MANUAL, then changing the settings for take profits, stop loss, sensitivity will not bring any results. You can also save your customized strategies, this is discussed in a separate paragraph “🟩HOW TO SAVE A STRATEGY” 2. Sensitive Responsible for the time period in bars to create Fibonacci levels 3. Start calculating date This is the time to start backtesting strategies 4. Position group Show checkbox - is responsible for displaying positions Fill checkbox - is responsible for filling positions with background Risk % - is responsible for what percentage of the deposit you are willing to lose if there is a stop loss BE target - here you can choose when you reach which take profit you need to move your stop loss to breakeven Initial deposit- starting deposit for profit calculation 5. Stoploss group Fixed stoploss % checkbox - If choosed: stoploss will be calculated manually depending on the setting below(formula: entry_price * (1 - stoploss percent)) If NOT choosed: stoploss will be (formula: fibonacci level(0.786/0.236) * (1 + stoploss percent)) 6. Take profit group This group of settings is responsible for how far from the entry point take profits will be and what % of the position to fix 7. RSI Responsible for configuring the built-in RSI. Suitable bars will be highlighted with crosses above or below, depending on overbought/oversold 8. Infopanels group Here I think everything is clear, you can hide or show information panels 9. Developer mode If enabled, all events that occur will be shown, for example, reaching a take profit or stop loss with detailed information about the unfixed balance of the position
🟩 HOW TO USE Very simple. All you need is to wait for the trend to change to long or short, you will immediately see a stop loss and four take profits, and you will also see prices. Like in this picture:
🟩 ALERTS There are 3 types of alerts: 1. Long signal 2. Short signal 3. Any alert() function call - will be send to you json with these fields
🟩 HOW TO SAVE A STRATEGY First, you need to make sure that the “MANUAL” strategy is selected in the strategy settings. After this, you can start selecting parameters that will show the largest profit in the statistics panel. I have highlighted what you need to pay attention to when choosing a strategy
Let's assume you have set up a strategy. The main question is how to preserve it? Let’s say the strategy turned out with the following parameters: Next we need to find this section of code: