Start Midas Fibo Bands

Here we have the Start Midas Fibo Bands, I confess that it is an indicator that excited me enough to operate because I was able to find more defined rules. Well, the indicator has the functions of the other indicators of the Start line, which is a possibility to plot several Midas on the screen, you can move the anchor point using keyboard shortcuts and use the legend to differentiate one anchor from another. The rules that I have analyzed for my possible setup are recommended to the entry, stop and trailling stop criteria (see images).

• Entry is authorized when the price exceeds the footprint call line 2 (second line in the direction of the transaction). At this point, I can define the direction of the operation and the idea will be to operate on the next Midas touch.
• When the entry occurs, there would be a defense point (a second entry) on the stop line 1 (first white line in the opposite direction of the operation) and the stop posted on the stop line 2.
• The trailling stop occurs when the price crosses one of the levels, and the stop comes to the line immediately preceding it.

It is probably necessary to plan as entrances, to analyze if a distance line to the stop is too short. Unfortunately it is a difficult setup to be automated because an anchoring will depend on the point chosen by the trader.

Difficult to explain in text, but I will try to improve it in the images and in a future video, I promise.


If you found the idea of ​​the setup interesting and want to discuss it, we will use the discussion tab to comment, thanks in advance for the exchange of ideas.


The values ​​used in the indicator were calculated using Fibonacci values ​​and a little spreadsheet, but I left the values ​​modifiable so that the indicator can adapt to the trader.


That's it!


Other indicators of the Start line: Start Midas, Start Midas Displacement Channel, Start Midas SD Channel.


Success and good business!