Fibonacci : Range-Bound Support and Resistance Levels#

Here is the strategy name: Range Trading Strategy with Support and Resistance Levels

Strategy Details#

Here are the strategy details from ChatGPT:

Note

  • Identify a horizontal price range or channel formed by support and resistance levels.

  • Sell when the price reaches resistance and shows bearish reversal candlestick patterns.

  • Buy when the price reaches support and shows bullish reversal candlestick patterns.

We use the Fibonacci pivot points as measures for support and resistance.

Sample Signal Points#

Range-Bound Support and Resistance Levels Points

Results#

Range-Bound Support and Resistance Levels Results

Source Code#

Here is the link to the source code for this zeta-zetra/code.