Fibonacci + RSI - Strategy by MohamedYAbdelaziz
By MohamedYAbdelaziz
Performance Metrics
- Author: MohamedYAbdelaziz
- Symbol: FX:EURUSD
- Timeframe: 30 minutes
- Net P&L: +277.82 USD (+2.78%)
- Win Rate: 88.0%
- Profit Factor: 5.552
- Max Drawdown: 26.42 USD (0.26%)
- Total Trades: 25
- Sharpe Ratio: −0.023
Description
Strategy: Fibonacci + RSI:- Intraday trading strategy (Scalping).Time Frames Tested with best Results: 30 Minutes. 5 Minutes. 15 Minutes. 1 MinuteIndicators Used: RSI (30 / 70) Fibonacci (1 - 0.784)How it Works:Once the Price Hits the 1 or -1 Fibonacci Level and bounces a little bit, It checks the RSI if Over Bought or Over Sold According to 30 - 70.If both conditions are satisfied, it triggers a Long or Short Positions.Further Notes:- I have put a Stop-loss with a 2% just for further upgrades.- Not advised to use in High Volatility Markets.- No Repaint was observed during a 2-Weeks Tests.If you have any suggestions or modifications please contact to add.If you have observed any bad behavior please contact to fix.Trade wisely.