Fibs Limit Only calculates pivot highs and lows over a user-defined length to establish Fibonacci retracement and extension levels. Traders select a specific Fibonacci tier to place long entry orders, with automated order management for repositioning or cancelling orders as levels update. The strategy incorporates dollar-cost averaging (DCA) rules and exits positions at a percentage-based take-profit target scaled by leverage. It operates on the main price chart and lacks a stop loss mechanism.
Fibonacci level calculation from rolling pivot highs and lows
Selectable Fibonacci entry levels
Percentage-based take-profit scaled by leverage
Dollar-cost averaging rules for secondary entries
Webhook alert messages formatted for Binance Futures
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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