Credits: Thank you "eykpunter" for granting me permission to use "Fibonacci Zones" to create this strategy Thank you "junyou0424" for granting me permission to use "DCA Bot with SuperTrend Emulator" which I used for adding bot inputs, calculations, and strategy
Pre-requisites: You can use this script without a 3Commas account and see how 3Commas DCA Bot would perform. However, I highly recommend signing up for their free account, going through their training, and testing this strategy with a paper bot. This would give you a base understanding of the settings you will see in this strategy and why you will need to know them.
What can this do? First off, this is a Long only strategy as I wrote it with DCA in mind. It cannot be used for shorting. Shorting defeats the purpose of a DCA bot which has a goal that is Long a position not Short a position. If you want to short, there are plenty of free scripts out there that do this.
I created this script out of curiosity and I wanted to see how a strategy based on “Fibonacci” levels would work with a 3Commas DCA bot. I came across "eykpunter’s" "Fibonacci Zones" study and in TradingView and I found it to be a very interesting concept. The "Fib Zones" in his study are basically a "Donchian Channel" of 4 Fibonacci lines. These are the High @ 0.236, Center High @ 0.382, Center Low @ 0.618, and Low @ 0.764.
The Fib Zones in this strategy can be used as conditions to open a trade as well as closing a trade. There is also the option to close a trade based on a Target Take Profit (%).
Advanced Fibonacci trading is also supported by specifying additional parameters for Trade Entry and Exit.
For example, for order entry, you can increase the minimum trend strength to open an order via the "minimum ADX value" option. You can also further limit order entry by selecting the option to "Only open trades on bullish +DI" (Positive Directional Index).
Or you can play the contrarian. For example, I would look for "buying the dip" opportunities by doing the following under "Trade Entry Settings": Set the "Min ADX value to open trade" to zero Set the option "Open a trade when the price moves" to "1-To the bottom of Downtrend Fib zone" or "2-Higher than the top of the Downtrend Fib zone" Uncheck option "Only open trades on bullish +DI" Set the 'Min ADX value to open trade' to Zero Set the 'Max +DI value to open trade' to a value between 10-20.
For Trade Exit settings, I can use a "Target Take Profit (%)" or one of the High Fib levels to close the trade.
Here's an example result when using a Contrarian-Fibonacci-Zone-DCA strategy:
Explanation of Chart lines and colors on chart
Six Options for Entering a Fibonacci Trade Open a trade when the price moves: 1-To the bottom of Downtrend Fib zone 2-Higher than the top of the Downtrend Fib zone 3-Higher than the bottom of Ranging Fib Zone 4-Higher than the top of Ranging Fib Zone 5-Higher than the bottom of Uptrend Fib Zone 6-To the top of Uptrend Fib Zone
Three Options for Exiting a Fibonacci Trade Take profit using: "Target Take Profit (%)" "High Fibonacci Border-1" "High Fibonacci Border-2"
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Updated line colors for Fib zones to make it more discernable from the Take Profit line; updated thickness of TP, Avg Price, and SO line.
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Added Fib-Based Stop Loss option. Use this to exit the trade when the "High Fibonacci Border-1" (the highest fib line) falls below the average price. Works with all 3 trade exit options.
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Updated and reorganized the menu, the strategy and study scripts both have similar menus and are less confusing. On the strategy menu, added more options and control for when to enter a trade (144 variations!) Interesting statistic, lines code grew from 218 to 237
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Updates:
Reduced extraneous signals: Buy/Sell Signals now only appear for unique trades which match the strategy.
Menu touchups and updated with more options
Fib Borders now listed with the highest border at the top and the lowest at the bottom
More options to exit trade
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Just updating chart
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Updates: Fixed trades not closing according to specified trailing deviation % ; Found trades were closing far later than they should be. Researched new calculation to fix this.
When "Trailing Deviation" is used, the following lines will now appear on the chart (these can be disabled in 'Style' Menu): Original TTP value = White line showing the original target take profit value Stop Value = Red line which follows the price based on the trailing value and is used to help calculate the trailing stop. If the price moves up, this pushes the yellow Trailing Stop Loss line up. Trailing Stop Loss = Yellow line showing the trailing stop loss.
Added option for specifying the "Max ADX value", the "Min -DI value to open trade", and the "Max -DI value to open trade". Tip: Use a DMI indicator to locate possible Min and Max values to use for ADX, +DI, and -DI.
These updates have also been applied to the corresponding study script and can be used with this strategy script to generate buy/sell signals.
The Study script which goes with this and generates the buy/sell signals for 3Commas is coming soon. Tentatively called "Fibonacci Zone Study w/Candles Study - R3c0nTrader".
Nityanis
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Any work from you mate is without flaws. Well done.
R3c0nTrader
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@Nityanis, thanks for the compliment. I try very hard and spend countless hours to resove any bugs I find. I track all updates, bugs, and code fixes to all my scripts. I only release scripts and updates to them when I have stamped out any bugs I find. However, I still find some later on. I will never admit that my code is perfect so that I will always have room to grow.
R3c0nTrader
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Visual cues improved. Line thickness and colors updated for Fib Zones, TP, Avg Price, and SO lines.
I just released "Fibonacci Zone Study w/Candles". Enjoy!
Aleksej2509
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Почему не отображается на графике? Пишет, что ошибка индикатора или стратегии.
R3c0nTrader
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@Aleksej2509, Hi there. Not sure why you are having an issue. It works fine for me. Try removing it and re-adding it again. You may also need to refresh the page or clear your browser history. I released latest version today. Make sure you are using the latest version (5.0).