Fibonacci Bollinger Bands Strategy / Alerts

Fibonacci Bollinger Bands Strategy

Content



Cost / Purchase

The subscription to this indicator is 9.99$/month, 79.99$/year, or 149.99$ for lifetime access.

Also, you can request a 7-day trial to the indicator to test if it works for you.

For subscription, you can pay only with a card, for lifetime access you can use a card or Paypal.

Get Free 7 Days Trial


How does this strategy work?

This strategy is modified Stanard Bollinger Bands Strategy. Instead of using standard deviation, I use a metric of how big is the range for the last X bars. Also, I’m using Fibonacci levels as multipliers for BB.

In this strategy you have a choice of 3 different Trailing Stop Loss types:

  • Standard % – standard percent based TSL
  • Fibonacci Level – close your position on another Fibonacci level or basis line of BB.
  • Parabolic SAR – Parabolic SAR adapted as trailing stop loss.

For Standard % and Parabolic SAR, you can use the “TSL Offset” parameter to set an initial offset for trailing stop loss.


What is this strategy good for?

FBB Strategy was developed for crypto for 30m to 2h timeframe. The main goal was to catch long term trends and ride them. So it is advised to use pretty big length for BB and pretty big/slow trailing stop losses.

Here is an example of the performance of this strategy for ETHUSD 1h chart:

Coinbase, ETHUSD, 1h. BB length 100, Entry on 0.618, Exit on BB basis.

However, it might work well for other products/timeframes. You will find some examples below.


Parameters

In the Strategy/Alerts, you will find the following parameters

  • BB Length – Bolinger Bands Length
  • Fib Entry Level – Entry BB Multiplier level. Can be one of Fibonacci levels: 0.236, 0.382, 0.5, 0.618, 0.786, 1.000
  • Trailing SL Type – Type of Trailing Stop Loss used to close positions. Can be one of 3 types: “Standard %”, “Fibonacci Level”, “Parabolic SAR”
  • TSL Offset (%) – Initial offset for TSL. Applicable to “Standard %” and “Parabolic SAR”
  • TSL Fib Level – Fibonacci level used for “Fibonacci level” type of TSL
  • TSL PSAR Start / Increment / Maximum – parameters for PSAR type of TSL.
  • Strategy side – you can choose the side of the strategy. You can require strategy to go only Long, Short to Both sides.
  • From/To Day/Month/Year – you can use these parameters to set backtesting range to check the performance of your strategy on a specific range

Alerts

You will find 4 custom alerts in the study of this strategy:

  • FBB Long
  • FBB Short
  • FBB Long TSL
  • FBB Short TSL

When creating these alerts use “Once Per Bar Close” param for FBB Long and FBB Short and “Once Per Bar” for FBB Long TSL and BB Short TSL.


Frequently Asked Questions

Does this strategy repaint?

No, I don’t use any of the bugs in PineScript that cause strategy repainting.

Are these scripts free to use?

No, it’s my PRO indicators, you can purchase access to them using these links. You can still find quite a lot of free and open-source indicators on my TradingView profile.

Can I have a free trial for these scripts?

Yep, sure. Follow this link and I will give you 7 days free access to indicators so you can check if the strategy works for you personally.

Will I get access to the code of these scripts?

No, these are invite-only scripts on TradingView. You will be able to use them, but the code will be closed for you.

Is this strategy good for everything?

Unfortunately, no. This strategy is created for crypto and might work pretty well for other volatile products. But, unfortunately, it won’t work great for everything. So before purchasing it’s a good idea to get a free trial to make sure it works for you.

Can I modify your strategy?

As you don’t have access to code you can not modify it yourself. But if you think you know how to make it better – let me know. If I will decide that your modification is good enough I will add it to my scripts.

When will I get access to indicators?

After your purchase, I will grant you access in 24h max, usually it’s just a few hours.


Parameters Examples

These performances were calculated at 2020-07-04 so it might be different from the performance you observer now at the market.

Coinbase, ETHUSD, 1h

Coinbase, ETHUSD, 15m

Binance, BTCUSDT, 30m

Binance, BTCUSDT, 2h

JPYUSD, 15m

Disclaimer

Please remember that past performance may not be indicative of future results.

Due to various factors, including changing market conditions, the strategy may no longer perform as good as in historical backtesting.

This post and scripts don’t provide any financial advice.