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FAR Fibonacci RSI Strategy

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nourchip95
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24 views3 pages

FAR Fibonacci RSI Strategy

Uploaded by

nourchip95
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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// This source code is subject to the terms of the Mozilla Public License 2.

0 at
https://mozilla.org/MPL/2.0/
// © MohamedYAbdelaziz. 12/12/23 > v5 updates from Lloydy123

// Intraday Trading
// Best used for Short Timeframes [1-30 Minutes]
// If you have any modifications please tell me to update it

//@version=5
strategy(title='Fibonacci + RSI - Strategy', overlay=true,
default_qty_type=strategy.cash, initial_capital=10000, default_qty_value = 100,
commission_value = 0.01, currency=currency.USD)

// Inputs
// Stop Loss %
loss_percent = input.float(title='Stop Loss (%)', minval=0.0, step=0.1, defval=0.5)
/ 100
dynamic_close = input.bool(false, 'Dynamic close (Whenever Fib line crossed?')
// RSI Inputs
len = input.int(title='[RSI] Length', minval=0, step=1, defval=14)
overSold = input(title='[RSI] Over Sold %', defval=30)
overBought = input(title='[RSI] Over Bought %', defval=70)
// Fibonacci Levels
length = input.int(title='[Fibonacci] Length', defval=200, minval=1)
src = input(hlc3, title='[Fibonacci] Source')
mult = input.float(title='[Fibonacci] Multiplier', defval=3.0, minval=0.001,
maxval=50)
level = input(title='[Fibonacci] Level', defval=764)
var bool useCustomRiskInput = input.bool(true, title = 'Use Custom Risk', group =
'Risk Management - Fixed $ stops')
var bool useCompoundingInput = input.bool(false, title = 'Use Compounding Option',
group = 'Risk Management - Fixed $ stops')
var int investCapitalInput = input.int(1000, title = 'Capital Size (USD)', group =
'Risk Management - Fixed $ stops')
var float maxRiskPerTradeInput = input.float(3.0, minval = 0.1, step = 0.1, title =
'% Risk Per Trade', group = 'Risk Management - Fixed $ stops') / 100

// Calculate Fibonacci
basis = ta.vwma(src, length)
dev = mult * ta.stdev(src, length)
fu764 = basis + 0.001 * level * dev
fu1 = basis + 1 * dev
fd764 = basis - 0.001 * level * dev
fd1 = basis - 1 * dev

// Calculate RSI
vrsi = ta.rsi(close, len)
// Custom risk calculation
calcPositionSize(unitRisk) =>
float qty = na
if useCustomRiskInput
totalRisk = (useCompoundingInput ? strategy.equity : investCapitalInput) *
maxRiskPerTradeInput
qty := totalRisk / unitRisk
math.round(qty, 6)
// Calculate the Targets
targetUp = fd764
targetDown = fu764
// Actual Targets
bought = strategy.position_size[0] > strategy.position_size[1]
exit_long = ta.valuewhen(bought, targetUp, 0)
sold = strategy.position_size[0] < strategy.position_size[1]
exit_short = ta.valuewhen(sold, targetDown, 0)
//plot (exit_long, color = color.fuchsia)
// Calculate Stop Losses
stop_long = strategy.position_avg_price * (1 - loss_percent)
stop_short = strategy.position_avg_price * (1 + loss_percent)

// Conditions to Open Trades


openLong = low < fd1 and ta.crossover(vrsi[1], overSold)
openShort = high > fu1 and ta.crossunder(vrsi[1], overBought)

// Conditions to Close Trades


closeLong = high > exit_long
closeShort = low < exit_short

// Plots
plot(basis, color=color.new(color.blue, 0), linewidth=2, title='[Fibonacci Level]
Basis')
plot(fu764, color=color.new(color.white, 0), linewidth=1, title='[Fibonacci Level]
Short Target')
plot(fu1, color=color.new(color.red, 0), linewidth=2, title='[Fibonacci Level]
Top')
plot(fd764, color=color.new(color.white, 0), linewidth=1, title='[Fibonacci Level]
Long Target')
plot(fd1, color=color.new(color.green, 0), linewidth=2, title='[Fibonacci Level]
Bottom')
// Define variables
var float trade_qty = na
var float trade_qty_alert = na
var float longRisk = na
var float shortRisk = na
var float long_tp = na
var float long_sl = na
var float short_tp = na
var float short_sl = na
var float entryPrice = na
// Strategy Orders
if openLong and high < targetUp and strategy.position_size == 0

long_tp := fd764
long_sl := close * (1 - loss_percent)
longRisk := close - long_sl
entryPrice := close
trade_qty := useCustomRiskInput ? calcPositionSize(longRisk) : na
strategy.entry(id='Long', direction=strategy.long, qty = trade_qty) // qty =
trade_qty
strategy.exit(id='Long',from_entry = 'Long', limit=long_tp, stop=long_sl)

if openShort and low > targetDown and strategy.position_size == 0


short_tp := fu764
short_sl := close * (1 + loss_percent)
shortRisk := short_sl - close
entryPrice := close
trade_qty := useCustomRiskInput ? calcPositionSize(shortRisk) : na
strategy.entry(id='Short', direction=strategy.short, qty = trade_qty)
strategy.exit(id='Short', from_entry = 'Short', limit=short_tp,
stop=short_sl)//, qty = trade_qty

strategy.exit(id='Long',from_entry = 'Long', limit=dynamic_close ? fd764 : long_tp,


stop=long_sl)
strategy.exit(id='Short', from_entry = 'Short', limit=dynamic_close ? fu764 :
short_tp, stop=short_sl)
e1 = plot( strategy.position_size != 0 ? entryPrice : na, color=color.rgb(255, 255,
255, 74), style=plot.style_linebr, linewidth=2, title="Entry Price")
sl = plot(strategy.position_size > 0 ? long_sl : strategy.position_size < 0 ?
short_sl : na , title='Stop Loss', color=color.rgb(255, 0, 0),
style=plot.style_linebr)
tp1 = plot( strategy.position_size > 0 ? long_tp : strategy.position_size < 0 ?
short_tp : na, color=color.new(color.green, 0), style=plot.style_linebr,
linewidth=2, title ='TP1 Level')
//ltp = plot(long_tp, color=color.new(color.green, 0), style=plot.style_linebr,
linewidth=2, title ='Long TP')
//stp = plot( short_tp, color=color.new(color.green, 0), style=plot.style_linebr,
linewidth=2, title ='Short TP')

// Exit Orders

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