https://www.tradingview.com/script/NmaqrsJR-Fibonacci-Bands-Starbots/
This strategy is working using Fibonacci rules in quite unique way.
We are using VWMA as basis of price Moving Average. Then we calculate
the deviation of this Basis using multiplier, similarly to what we do on
Bollinger Bands and search for Fibonacci targets using basis price as
0.0 instead of close price of previous high/low pivots.
Recommended parameters can be found in inputs << Band(1.5-2-3✅) >>
This strategy is quite easy to setup on 5min -1h charts and it’s highly profitable. I don’t recommend using Stop Loss.
Use Take Profit to catch some pumps, set your Basis, Multiplier and Fib
targets nicely and that’s about it. Let the strategy ride the market.
Release Notes:
Updated strategy with traditional Fibonacci bands and added some improvements.
