This overlay strategy is built for ES futures on the one-minute chart. It plots a volume-weighted moving average of price opens and standard-deviation bands at Fibonacci ratios, plus a second longer volume-weighted average from a higher-timeframe open. Call an
Strategy · Pine Script v5 · On the chart
Volume + Fibonacci + Trend + ATR Strategy with 1% TP
This strategy plots Fibonacci retracement levels from a rolling high-low range and trades long only on the price chart.
GitHub stars3on the repository
Pine versionv5runs as is
Lines of code56
Settings7inputs
LicenceMIT
Last update1 year ago11 Feb 2025
Add It to Your TradingView Chart
- 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
56 lines of Pine Script v5 from Scripts/FibTrend_1%_TP.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
strategy("Volume + Fibonacci + Trend + ATR Strategy with 1% Take Profit", overlay=true)
// Input settings
length = input(24, title="Volume Lookback Period")
fibLevel1 = input(0.618, title="Fibonacci Level 1")
fibLevel2 = input(0.5, title="Fibonacci Level 2")
riskReward = input(2.0, title="Risk to Reward Ratio")
smaLength = input(200, title="SMA Length for Trend Filter") // Trend filter with SMA
atrLength = input(14, title="ATR Length") // ATR for dynamic take profit
// Calculate 24-hour average volume
volume24 = ta.sma(volume, length)
// Identify volume surges (when current volume exceeds the 24-hour average)
volumeCondition = volume > volume24
// Calculate Fibonacci retracement levels for the last 50 bars
var float highLevel = na
var float lowLevel = na
lookbackPeriod = input(50, title="Fibonacci Lookback Period")
if (bar_index >= lookbackPeriod)
highLevel := ta.highest(high, lookbackPeriod)
lowLevel := ta.lowest(low, lookbackPeriod)
// Calculate Fibonacci retracement levels
fib618 = lowLevel + (highLevel - lowLevel) * fibLevel1
fib50 = lowLevel + (highLevel - lowLevel) * fibLevel2
// Plot Fibonacci levels on the chart
plot(fib618, color=color.red, title="Fib 0.618")
plot(fib50, color=color.blue, title="Fib 0.5")
// Trend filter using a simple moving average (SMA)
sma200 = ta.sma(close, smaLength)
// Buy condition: Price is above the 0.618 Fibonacci level, volume condition, and price is above SMA200
buyCondition = close > fib618 and volumeCondition and close > sma200
if (buyCondition)
strategy.entry("Buy", strategy.long)
// Sell condition: Price falls below the 0.5 Fibonacci level, indicating potential reversal
sellCondition = close < fib50 and volumeCondition
if (sellCondition)
strategy.close("Buy")
// Set dynamic take profit using ATR for a more adaptive target
atr = ta.atr(atrLength)
takeProfitPriceATR = strategy.position_avg_price + atr * riskReward // Dynamic target based on ATR
// Set take profit at 1% above entry price
takeProfitPrice1Pct = strategy.position_avg_price * 1.01 // 1% take profit
// Exit: Either take profit at 1% or ATR-based take profit
strategy.exit("Take Profit 1%", from_entry="Buy", limit=takeProfitPrice1Pct)
strategy.exit("Take Profit ATR", from_entry="Buy", limit=takeProfitPriceATR, stop=fib50)
Overview
Volume + Fibonacci + Trend + ATR Strategy with 1% TP enters when price is above the first Fibonacci level, volume exceeds its moving average, and price is above a simple moving average. It closes the long when price falls below the second Fibonacci level during a volume surge. Take-profit exits use a fixed one percent target or an ATR multiple of the risk-to-reward setting; the ATR exit also uses the second Fibonacci level as a stop. Lookback lengths, Fibonacci ratios, SMA period, ATR length, and the reward multiple are adjustable.
- Volume surge above a volume moving average
- Fibonacci 0.618 and 0.5 levels from a lookback range
- 200-period SMA trend filter
- Fixed 1% take profit and ATR take profit
- Long entries and exits drawn on the price chart
Details
Published by
11Muhil on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Trend, Volatility & bands, Volume, Support & resistance
Markets
Forex, Crypto, Stocks
Timeframes
H4 and above
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Volume Lookback Period | int | 24 | length |
| Fibonacci Level 1 | float | 0.618 | fibLevel1 |
| Fibonacci Level 2 | float | 0.5 | fibLevel2 |
| Risk to Reward Ratio | float | 2.0 | riskReward |
| SMA Length for Trend Filter | int | 200 | smaLength |
| ATR Length | int | 14 | atrLength |
| Fibonacci Lookback Period | int | 50 | lookbackPeriod |
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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