Fibonacci Retracement Strategy by MasayanFX
By MasayanFX
Performance Metrics
- Author: MasayanFX
- Symbol: FX_IDC:USDJPY
- Timeframe: 1 minute
- Win Rate: 50.0%
- Profit Factor: 0.692
Description
Fibonacci Retracement Strategy is a short-term reversal-style backtesting strategy designed for USDJPY on the 1-minute chart.The strategy combines a Fibonacci retracement level, Bollinger Bands, and RSI to test potential overbought and oversold reversal conditions. The Fibonacci level is calculated from the highest high and lowest low over the selected lookback period.A long entry is generated when RSI is at or below the oversold level, price is at or below the lower Bollinger Band, and price remains above the selected Fibonacci retracement level. A short entry is generated when RSI is at or above the overbought level, price is at or above the upper Bollinger Band, and price remains below the selected Fibonacci retracement level.Default settings:Symbol: USDJPYTimeframe: 1 minuteRSI Period: 14Bollinger Bands Period: 30Bollinger Bands Deviation: 2.0Fibonacci Lookback: 500Fibonacci Level: 0.5Use Confirmed RSI / Bands: EnabledStop Loss Distance: 1.0Take Profit Distance: 1.0Pyramiding: 0The strategy closes an opposite position before opening a new one and uses fixed price-distance stop loss and take profit levels. Because TradingView’s broker emulator differs from MT4/MT5 execution, backtest results may not match EA results or live broker execution exactly.This script is intended for chart analysis, backtesting support, research, and educational purposes only.It does not guarantee future performance and should not be considered financial advice.Please test carefully before using it in any trading decision.