1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
118 lines of Pine Script v4 from Automated - Fibs with Market orders.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
Automated - Fibs with Market orders enters long market orders when price touches a selected retracement level. Take profit is set as a percentage of entry price, and DCA activates when price drops below a threshold percentage. The script includes a configurable start delay and timestamp to control when trading begins. It plots Fibonacci extensions on the price chart and uses pyramiding for multiple positions. No stop loss is applied by default.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Live
bool
false
testing
Start Timestamp
int
1600976975
starttime
Start Delay
int
60
seconds
Leverage
int
1
leverage
Take Profit %
float
1.0
tp
DCA when < %
float
-1.0
dca
Entry Level
string
1
fibEntry
Pivot Length
int
60
lentt
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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