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.
https://www.youtube.com/watch?v=XKrE9fsr7E0
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
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