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- 20849
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- Published:
- 2020.11.27 02:45
- Updated:
- 2020.12.27 17:45
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INTRODUCTION :
The 8 effective steps to build a robust day trading plan using Fibonacci retracement will help us use Fibonacci to locate potential entry points.
Having a trading plan is what differ us from amateurs because professional traders always use their trading plan.
HOW TO USE IT :
You can check the following video that will explain how to
- What are the 8 steps to build a robust trading plan based on Fibonacci retracement.
- Most common mistakes that trades do.
- Applying the trading plan to search for Fibonacci entry points.
PARAMETERS :
This script has 5 inputs, which are
- The Price on 50% Level on M5 TF : enter the price
- The Price on 61% Level on M5 TF : enter the price
- The Price on 100% Level on M5 TF : enter the price
- The Second Target on H1 TF : enter the price
- The Risk in % : enter the % risk on this trading setup
![Doulble MA Cross Draw Histogram](https://c.mql5.com/i/code/indicator.png)
Use the intersection of two moving average lines to draw a vertical line
![Swing trading 3 EMA Crossover](https://c.mql5.com/i/code/indicator.png)
Hassane Zibara
![Stoch RSI MT4](https://c.mql5.com/i/code/indicator.png)
The Stochastic RSI indicator (Stoch RSI) is essentially an indicator of an indicator. It is used in technical analysis to provide a stochastic calculation to the RSI indicator. This means that it is a measure of RSI relative to its own high/low range over a user defined period of time. The Stochastic RSI is an oscillator that calculates a value between 0 and 1 which is then plotted as a line. This indicator is primarily used for identifying overbought and oversold conditions.
![Identify potential Trends/Range (Pivot Points) - MT4](https://c.mql5.com/i/code/script.png)
This script was developed in order to help us detect if a chart is actually trending or going nowhere.