The strategy

The Daily Fib Trader is a trading strategy that operates by analyzing Fibonacci levels derived from the preceding daily trading range. These specific levels have demonstrated a magnetic effect in the trading community, making them crucial elements in this highly profitable strategy.

The flexibility of the Daily Fib Trader allows you to tailor these levels, along with other parameters such as time windows, to suit your individual preferences.

 Whether you prefer to fine-tune the strategy according to your unique trading style or opt for the convenience of our pre-established templates, the Daily Fib Trader empowers you to navigate the market in a way that aligns perfectly with your goals. It's a versatile tool designed for customization, ensuring you have the freedom to trade confidently and profitably every day.

Scaling in

This strategy offers the capability to implement dollar-cost averaging in trades. By utilizing position sizing from 1 to 8, you can specify up to eight scaling positions and determine the number of contracts to be employed at each level. If you choose not to scale in at a specific level, you have the option to set the position size to 0.

Opening range

The opening range defines the interval employed to compute session high and low prices. Once the low and high prices are determined, the range can be segmented into multiple lines spanning from the low to the high price. This segmentation can be achieved by opting for a fixed number of steps, utilizing a specified tick range per step, or employing Fibonacci levels.

Trend direction

The CSV Day filter is a feature that enables you to import a .csv file containing specific dates that you wish to exclude from the trading strategy. This functionality proves particularly advantageous during the backtesting phase, allowing you to omit certain dates from consideration.
 
For instance, you can conveniently exclude holidays, FOMC (Federal Open Market Committee) days, or any other specific dates that you typically avoid trading. By implementing the CSV Day filter, you enhance the accuracy and relevance of your backtesting results, ensuring a more realistic simulation of your trading strategy's performance by accounting for days when market conditions might deviate from the norm.

Moving average filter

Utilize the MA filter to select a moving average type, such as SMA, EMA, WMA, or VWMA, to identify the prevailing trend. In an uptrend, the strategy exclusively initiates long trades, while in downtrends, it focuses solely on short trades.

Target

Allows you to define the target offset in ticks

Breakeven

You can specify several settings for when the target should be moved to break even. For example you could define that the target should move to break even when the strategy scaled in 2x times. More details about this in the member videos

Daily loss/profit

The strategy allows you to specify a daily profit or loss. When reached the strategy will stop trading for the day

Time filter

With the time filter feature, you can set two distinct time intervals. Once activated, the strategy will exclusively execute trades within these defined time windows and temporarily halt trading outside of them.

CSV Date filter

The CSV Day filter is a feature that enables you to import a .csv file containing specific dates that you wish to exclude from the trading strategy. This functionality proves particularly advantageous during the backtesting phase, allowing you to omit certain dates from consideration.
 
For instance, you can conveniently exclude holidays, FOMC (Federal Open Market Committee) days, or any other specific dates that you typically avoid trading. By implementing the CSV Day filter, you enhance the accuracy and relevance of your backtesting results, ensuring a more realistic simulation of your trading strategy's performance by accounting for days when market conditions might deviate from the norm.

Moving average filter

Utilize the MA filter to select a moving average type, such as SMA, EMA, WMA, or VWMA, to identify the prevailing trend. Then with the Max/Min levels away you can specify that the strategy should stop trading when its too far away from the moving average. The exact details of this and other settings will be explained in the member videos

Disable/Enable short or longs

Toggle between enabling and disabling shorts and/or longs whenever needed. For instance, during an uptrend, you may choose to deactivate shorts, ensuring the strategy exclusively executes long trades. Conversely, in a downtrend, you can disable longs, prompting the strategy to solely initiate short trades.

Move to breakeven

You can move your stoploss to break even by just pressing this button

Trend/Counter trend

Select whether the strategy should trade with the trend or counter trend .

Close all

Closes all open orders/trades