Fibo Reversals is an indicator which has carefully been put together to attempt to indicate a time period in which an ongoing trend is most probably exhausted and a new trend (actually a reversal trend) inadvertently begins. At this, it should be okay for the manual trader to be on the look out for good trading opportunities.
- Father Fibo - Firstly, this value determines the bars input period within which the calculations of the maximum high price and minimum low price is done. Secondly, it serves as one of the inputs to the Complex calculation of the Synergised MA.
- Son Fibo - Firstly, this input value is added to the input value of Father Fibo period to set the minimum number of bars that must be in the chart before beginning any calculation. Secondly, it serves as one of the inputs to the Complex calculation of the Synergised MA.
- Holy Spirit Fibo - Firstly, this input value is added to the input value of the Father Fibo Period to set the start count of bars for the corresponding maximum high and minimum low prices. Secondly, it serves as one of the inputs to the calculation of the Synergised MA.
- sReversal Depth - This line depicts a percentage price level dropped below from the highest peak. From the highest peak, when the signal line falls below this line, a trend reversal has occurred and so it is expected that there is going to be a continuous fall in price and so the trader may take a sell trade.
- bReversal Depth - This line depicts a percentage price level dropped below from the highest peak as well. From a lowest peak, when the signal line rises above this line, a trend reversal has occurred and so it is expected that there is going to be a continuous rise in price and so the trader may take a buy trade.
- Signal MA - This is the signal line. It is a moving average of price for the chosen period. Applied price used here is the Close price.
- MA Method - This is the Moving Average method.
This is the line order and their functions (from top to bottom):
- Fibo High - This line indicates the highest price level (within the chosen Father, Son & Holy Spirit Period). Usually, it presents a fixed price boundary but as can be observed when price climbs higher or lower, there is a corresponding change in its value. That goes to say that the new price direction becomes so obvious.
- Fibo Sell Depth - This line (at the preselected sReversal Depth value) exposes to our view the precise timing of a trend reversal from a bullish trend into a bearish sell trend.
- Synergised MA - This line it must act (in conjunction with others) as the main line. It is a complex combination of moving averages which presents a very balanced price trend judgment. Above this line, price is bullish. Below this line price is bearish.
- Signal MA - This is the new signal line and its position from time to time explains the directional price flow. The Synergised MA crossing this line upwards means a current move into the upward price direction. Consequently, a crossing below speaks of a downward price movement.
- Fibo Buy Depth - This line (at the preselected bReversal Depth value) exposes to our view the precise timing of a trend reversal from a bearish trend into a bullish buy trend.
- Fibo Low - This line indicates the lowest price level (within the chosen Father, Son & Holy Spirit Period). Usually, it presents a fixed price boundary but as would be observed when price drops lower or higher, there is a corresponding change in its value. That means that the new price direction becomes much so obvious.
Fibo Reversals Entry Rules
Notably, there are two buy entry periods as well as two sell entry periods. The first is a reversal entry while the second is an extension (or breakout) entry.
- Enter for a buy reversal only when the Signal MA crosses both the Synergised MA and bReversal Depth line upwards within a fixed interval in bars.
- Enter for a sell reversal only when the Signal MA crosses both the Synergised MA and sReversal Depth line downwards within a fixed interval in bars.
If entered correctly,
- Exit a buy reversal trade when the Signal MA line crosses above the sReversal Depth line.
- Exit a sell reversal trade when the Signal MA line crosses below the bReversal Depth line.
- Enter for a buy extension breakout when the Signal MA crosses both the Synergised MA and sReversal Depth line upwards (or Signal MA is perpetually above the Synergised MA & sReversal Depth lines).
- Enter for a sell extension breakout when the Signal MA crosses both the Synergised MA and bReversal Depth line downwards (or Signal MA is perpetually below the Synergised MA & bReversal Depth lines).
If entered at the right timing,
- Exit a buy extension when the Signal MA drops below both the Synergised MA and sReversal Depth lines.
- Exit a sell extension when the Signal MA rises above both the Synergised MA and bReversal Depth lines.
- Preferably, the trader may use a trailing stop.
Please note: Use discretionary money management rules.
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Please take the time to go through the new description and familiarize with the new indicator lines as seen on the price chart.