PROTECTED SOURCE SCRIPT
WAVYORBFIB strat
This strategy combines the power of the Opening Range Breakout with the precision of Fibonacci Retracement levels, creating a dynamic approach to market entry and exit points. It focuses on identifying key breakout zones early in the trading session, while leveraging Fibonacci levels to fine-tune potential support, resistance, and profit-taking targets.
How It Works:
Opening Range Breakout (ORB):
The strategy first identifies the Opening Range, which is typically defined by the high and low of the first 30 minutes or 1 hour of the trading session. This period serves as a crucial time frame, setting the initial market sentiment.
A breakout occurs when the price moves beyond the opening range (above the high or below the low). This breakout signals the potential for a strong move in the direction of the breakout.
Fibonacci Levels:
Once the breakout is identified, Fibonacci extension levels (1.232, 1.272, 1.764) are applied to the price movement from the opening range.
These levels act as potential support and resistance zones, providing possible entry points for trades as the market extends and tests these levels.
Key Entry Signals:
Long Entry: If the price breaks above the opening range with volume, target profit is the 1.232 fib line that is plotted.
Short Entry: If the price breaks below the opening range with volume, target profit is the -1.232 fib
Exiting the Trade:
Target 1: Use Fibonacci extensions 1.232, 1.272 and 1.764 as profit-taking targets for the trend continuation. You can toggle on and off extra fibs for extra targets/levels of influence.
Target 2: If the price hits a Fibonacci level (e.g.,1.232 extension) and begins to reverse, close out a portion of the position for profits, or tighten stops for a safer exit.
Stop Loss Strategy:
Place a stop loss just outside the opening range or below/above the nearest Fibonacci level (depending on the trade direction). This ensures minimal risk while the market tests these critical levels.
Why It Works:
This strategy leverages two well-tested concepts in technical analysis:
The Opening Range Breakout, which identifies the early momentum in the market,
And the Fibonacci retracement levels, which give traders key levels of support and resistance, helping to identify high-probability entry and exit points.
Ideal Markets:
This strategy works best in volatile markets and during periods of significant market movement, especially after major economic news or events.
How It Works:
Opening Range Breakout (ORB):
The strategy first identifies the Opening Range, which is typically defined by the high and low of the first 30 minutes or 1 hour of the trading session. This period serves as a crucial time frame, setting the initial market sentiment.
A breakout occurs when the price moves beyond the opening range (above the high or below the low). This breakout signals the potential for a strong move in the direction of the breakout.
Fibonacci Levels:
Once the breakout is identified, Fibonacci extension levels (1.232, 1.272, 1.764) are applied to the price movement from the opening range.
These levels act as potential support and resistance zones, providing possible entry points for trades as the market extends and tests these levels.
Key Entry Signals:
Long Entry: If the price breaks above the opening range with volume, target profit is the 1.232 fib line that is plotted.
Short Entry: If the price breaks below the opening range with volume, target profit is the -1.232 fib
Exiting the Trade:
Target 1: Use Fibonacci extensions 1.232, 1.272 and 1.764 as profit-taking targets for the trend continuation. You can toggle on and off extra fibs for extra targets/levels of influence.
Target 2: If the price hits a Fibonacci level (e.g.,1.232 extension) and begins to reverse, close out a portion of the position for profits, or tighten stops for a safer exit.
Stop Loss Strategy:
Place a stop loss just outside the opening range or below/above the nearest Fibonacci level (depending on the trade direction). This ensures minimal risk while the market tests these critical levels.
Why It Works:
This strategy leverages two well-tested concepts in technical analysis:
The Opening Range Breakout, which identifies the early momentum in the market,
And the Fibonacci retracement levels, which give traders key levels of support and resistance, helping to identify high-probability entry and exit points.
Ideal Markets:
This strategy works best in volatile markets and during periods of significant market movement, especially after major economic news or events.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.