OPEN-SOURCE SCRIPT
Fibonacci Pullback to 50MA Buy Signal
// === CONDITIONS FOR BUY SIGNAL ===
// 1. Price must be inside the fib pullback zone
inFibZone = low <= fib50 and low >= fib618
// 2. Price must touch or approach the 50MA
touchMA = low <= ma50 * 1.002 and low >= ma50 * 0.998 // within 0.2%
// 3. Optional confirmation – bullish candle
reversalCandle = close > open
// FINAL BUY SIGNAL CONDITION
buySignal = inFibZone and touchMA and reversalCandle
// === MARK BUY SIGNAL ===
plotshape(buySignal, style=shape.labelup, color=color.lime, size=size.large,
location=location.belowbar, text="BUY\nFib + 50MA")
// 1. Price must be inside the fib pullback zone
inFibZone = low <= fib50 and low >= fib618
// 2. Price must touch or approach the 50MA
touchMA = low <= ma50 * 1.002 and low >= ma50 * 0.998 // within 0.2%
// 3. Optional confirmation – bullish candle
reversalCandle = close > open
// FINAL BUY SIGNAL CONDITION
buySignal = inFibZone and touchMA and reversalCandle
// === MARK BUY SIGNAL ===
plotshape(buySignal, style=shape.labelup, color=color.lime, size=size.large,
location=location.belowbar, text="BUY\nFib + 50MA")
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