OPEN-SOURCE SCRIPT
Auto Fib Retracement with Buy/Sell
Key Features of the Advanced Script:
Multi-Timeframe (MTF) Analysis:
We added an input for the higher timeframe (higher_tf), where the trend is checked on a higher timeframe to confirm the primary trend direction.
Complex Trend Detection:
The trend is determined not only by the current timeframe but also by the trend on the higher timeframe, giving a more comprehensive and reliable signal.
Dynamic Fibonacci Levels:
Fibonacci lines are plotted dynamically, extending them based on price movement, with the Fibonacci retracement drawn only when a trend is identified.
Background Color & Labels:
A background color is added to give a clear indication of the trend direction. Green for uptrend, red for downtrend. It makes it visually easier to understand the current market structure.
"Buy" or "Sell" labels are shown directly on the chart to mark possible entry points.
Strategy and Backtesting:
The script includes strategy commands (strategy.entry and strategy.exit), which allow for backtesting the strategy in TradingView.
Stop loss and take profit conditions are added (loss=100, profit=200), which can be adjusted according to your preferences.
Next Steps:
Test with different timeframes: Try changing the higher_tf to different timeframes (like "60" or "240") and see how it affects the trend detection.
Adjust Fibonacci settings: Modify how the Fibonacci levels are calculated or add more Fibonacci levels like 38.2%, 61.8%, etc.
Optimize Strategy Parameters: Fine-tune the entry/exit logic by adjusting stop loss, take profit, and other strategy parameters.
This should give you a robust foundation for creating advanced trend detection strategies
Multi-Timeframe (MTF) Analysis:
We added an input for the higher timeframe (higher_tf), where the trend is checked on a higher timeframe to confirm the primary trend direction.
Complex Trend Detection:
The trend is determined not only by the current timeframe but also by the trend on the higher timeframe, giving a more comprehensive and reliable signal.
Dynamic Fibonacci Levels:
Fibonacci lines are plotted dynamically, extending them based on price movement, with the Fibonacci retracement drawn only when a trend is identified.
Background Color & Labels:
A background color is added to give a clear indication of the trend direction. Green for uptrend, red for downtrend. It makes it visually easier to understand the current market structure.
"Buy" or "Sell" labels are shown directly on the chart to mark possible entry points.
Strategy and Backtesting:
The script includes strategy commands (strategy.entry and strategy.exit), which allow for backtesting the strategy in TradingView.
Stop loss and take profit conditions are added (loss=100, profit=200), which can be adjusted according to your preferences.
Next Steps:
Test with different timeframes: Try changing the higher_tf to different timeframes (like "60" or "240") and see how it affects the trend detection.
Adjust Fibonacci settings: Modify how the Fibonacci levels are calculated or add more Fibonacci levels like 38.2%, 61.8%, etc.
Optimize Strategy Parameters: Fine-tune the entry/exit logic by adjusting stop loss, take profit, and other strategy parameters.
This should give you a robust foundation for creating advanced trend detection strategies
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。