The Fibonacci Band Oscillation Strategy is a quantitative strategy designed based on the Fibonacci theory. It mainly uses the Fibonacci ratio to calculate multiple price bands to form upper and lower bands. When the price breaks through the bands, trading signals are generated to capture the oscillation characteristics between the bands for profit.
The core logic of the code is to calculate the Fibonacci price bands as key points. The main steps are:
With this breakthrough-based method, it can effectively capture short-term fluctuations in the market and make round-trip trades between bands for profits.
The biggest advantage of this strategy is that it utilizes the important theoretical indicator of the Fibonacci ratio to locate key price points, thereby increasing the probability of profit. The specific advantages are mainly reflected in:
Since the strategy pursues short-term profits, there are also some risks to note:
These risks can be controlled by appropriately adjusting parameters, selecting appropriate bands, and capital management methods.
There is still room for further optimization of the strategy:
In general, the Fibonacci Band Oscillation Strategy is a very practical short-term strategy. It uses the Fibonacci theory to set price key points. When the price oscillates around these points, generous profits can be obtained. This breakout-based method is suitable for markets with a certain degree of volatility and characteristics. It can be used alone or combined with other strategies. With parameter tuning and proper capital management, the strategy can operate stably in the long run.
/*backtest start: 2022-11-14 00:00:00 end: 2023-11-20 00:00:00 period: 1d basePeriod: 1h exchanges: [{"eid":"Futures_Binance","currency":"BTC_USDT"}] */ // This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/ // © drhakankilic //@version=5 strategy("FIBONACCI BANDS Strategy", shorttitle="FBANDS Strategy", overlay=true) // === Date === { //Backtest dates fromDay = input.int(defval=1, title='From Day',minval=1,maxval=31) fromMonth = input.int(defval=2, title='From Month',minval=1,maxval=12) fromYear = input.int(defval=2022, title='From Year') thruDay = input.int(defval=1, title='Thru Day',minval=1,maxval=31) thruMonth = input.int(defval=1, title='Thru Month',minval=1,maxval=12) thruYear = input.int(defval=2112, title='Thru Year') showDate = true // input(defval=true, title="Show Date Range") start = timestamp(fromYear, fromMonth, fromDay, 00, 00) // backtest start window finish = timestamp(thruYear, thruMonth, thruDay, 23, 59) // backtest finish window window() => // create function "within window of time" time >= start and time <= finish ? true : false // } // === Long or Short === tradeDirection = input.string(title="Long veya Short", options=["Long", "Short", "Both"], defval="Both", group="Bot") // Translate input into trading conditions longOK = (tradeDirection == "Long") or (tradeDirection == "Both") shortOK = (tradeDirection == "Short") or (tradeDirection == "Both") copypaste = input('{{strategy.order.alert_message}}', title='alert message to copy/paste', group="Bot") // } // === FIBONACCI BANDS === { EMAperiod = input.int(14, title='EMAperiod', minval=1, maxval=500, group="Fibonacci") ATRperiod = input.int(14, title='ATRperiod', minval=1, maxval=500, group="Fibonacci") EMA = ta.ema(close, EMAperiod) TR1 = math.max(high - low, math.abs(high - close[1])) TR = math.max(TR1, math.abs(low - close[1])) ATR = ta.sma(TR, ATRperiod) F2 = input(defval=1.618, title='Fibonacci Ratio 2', group="Fibonacci") F3 = input(defval=2.618, title='Fibonacci Ratio 3', group="Fibonacci") F4 = input(defval=4.236, title='Fibonacci Ratio 4', group="Fibonacci") R1 = ATR R2 = ATR * F2 R3 = ATR * F3 R4 = ATR * F4 FIBOTOP4 = EMA + R4 FIBOTOP3 = EMA + R3 FIBOTOP2 = EMA + R2 FIBOTOP1 = EMA + R1 FIBOBOT1 = EMA - R1 FIBOBOT2 = EMA - R2 FIBOBOT3 = EMA - R3 FIBOBOT4 = EMA - R4 plot(FIBOTOP4[1], title='FIBOTOP4', linewidth=1, color=color.new(color.orange, 0)) plot(FIBOTOP3[1], title='FIBOTOP3', linewidth=1, color=color.new(color.aqua, 20)) plot(FIBOTOP2[1], title='FIBOTOP2', linewidth=1, color=color.new(color.gray, 40)) plot(FIBOTOP1[1], title='FIBOTOP1', linewidth=1, color=color.new(color.purple, 40)) plot(FIBOBOT1[1], title='FIBOBOT1', linewidth=1, color=color.new(color.green, 40)) plot(FIBOBOT2[1], title='FIBOBOT2', linewidth=1, color=color.new(color.yellow, 40)) plot(FIBOBOT3[1], title='FIBOBOT3', linewidth=1, color=color.new(color.blue, 20)) plot(FIBOBOT4[1], title='FIBOBOT4', linewidth=1, color=color.new(color.aqua, 0)) // plot(EMA[1], style=plot.style_cross, title='EMA', color=color.new(color.red, 0)) prefm = input.string(title="Fibo", options=["close>FIBOTOP4(orange)", "close>FIBOTOP3(aqua)","close>FIBOTOP2(gray)","close>FIBOTOP1(purple)", "Disable"] , defval="close>FIBOTOP1(purple)", group="Long") _prefm = false if (prefm == "close>FIBOTOP4(orange)" ) _prefm := close>FIBOTOP4[1] if (prefm == "close>FIBOTOP3(aqua)" ) _prefm := close>FIBOTOP3[1] if (prefm == "close>FIBOTOP2(gray)" ) _prefm := close>FIBOTOP2[1] if (prefm == "close>FIBOTOP1(purple)" ) _prefm := close>FIBOTOP2[1] if (prefm == "Disable" ) _prefm := low<low[1] or low>low[1] prefmS = input.string(title="Fibo", options=["close<FIBOBOT1(green)", "close<FIBOBOT2(yellow)", "close<FIBOBOT3(blue)", "close<FIBOBOT4(aqua)", "Disable"] , defval="close<FIBOBOT1(green)", group="Short") _prefmS = false if (prefmS == "close<FIBOBOT1(green)" ) _prefmS := close<FIBOBOT1[1] if (prefmS == "close<FIBOBOT2(yellow)" ) _prefmS := close<FIBOBOT2[1] if (prefmS == "close<FIBOBOT3(blue)" ) _prefmS := close<FIBOBOT3[1] if (prefmS == "close<FIBOBOT4(aqua)" ) _prefmS := close<FIBOBOT4[1] if (prefmS == "Disable" ) _prefmS := low<low[1] or low>low[1] // } long2= _prefm short2= _prefmS // // === Bot Codes === { enterlong = input("Long Code", title='Long İlk Alım', group="Long Code") entershort= input("Short Code", title='Short İlk Alım', group="Short Code") exitlong = input("Long Exit Code", title='Long Exit', group="Long Code") exitshort= input("Short Exit Code", title='Short Exit', group="Short Code") // } ////////////////////////////////////////////////////////////////////////////////////////////TPSL // Inputs sl_inp = input.float(4, title='Stop %', step=0.1, group="Long") / 100 tp_inp = input.float(1.5, title='TP %', step=0.1, group="Long") / 100 sl_inp2 = input.float(4, title='Stop %', step=0.1, group="Short") / 100 tp_inp2 = input.float(1.5, title='TP %', step=0.1, group="Short") / 100 longtp = strategy.position_avg_price * (1 + tp_inp) longstop= strategy.position_avg_price * (1 - sl_inp) shortstop= strategy.position_avg_price * (1 + sl_inp2) shorttp = strategy.position_avg_price * (1 - tp_inp2) //////////////////////////////////////////////////////////////////////////////////////////// if window() and strategy.position_size==0 and longOK strategy.entry("Long", strategy.long, when= long2, alert_message=enterlong, comment="Long") if strategy.position_size>0 strategy.exit("Long", stop= longstop, limit=longtp, alert_message=exitlong, comment="TPSL") ////////////////////////////////////////////////////////////////////////////////////////////SHORT if window() and strategy.position_size==0 and shortOK strategy.entry("Short", strategy.short, when= short2, alert_message=entershort, comment="Short") if strategy.position_size<0 strategy.exit("Short", stop= shortstop, limit= shorttp, alert_message=exitshort, comment="TPSL")template: strategy.tpl:40:21: executing "strategy.tpl" at <.api.GetStrategyListByName>: wrong number of args for GetStrategyListByName: want 7 got 6