Fibonacci-Level Entries with Candle Patterns and Statistical Confirmation

Summary

This script describes a multi-part trading strategy built around Fibonacci-style price levels calculated from a recent high-low range. It defines touches and breaks at selected levels and uses candle direction as confirmation for potential long or short entries. The shown settings allow selectable chart timeframes, optional break entries, and percentage or ATR-based stop-loss choices, with an optional trailing stop.

The code also calculates a rolling median and quartiles of closing prices, derives interquartile-range bounds, and defines bullish, bearish, and extreme statistical conditions. It includes parameters for comparing recent candle patterns with historical patterns and weighting statistical confirmation, though the supplied excerpt ends before the complete signal and order logic is visible. No backtest results or validation are provided. The excerpt therefore does not establish how its multiple signals are combined in practice, or whether the strategy performs reliably across instruments and timeframes.

Key ideas

• Fibonacci-style levels are derived from the highest high and lowest low over a fixed lookback.
• Touch and break conditions combine price interaction with bullish or bearish candle confirmation.
• The script calculates rolling medians, quartiles, and interquartile-range bounds as statistical context.
• Inputs include pattern matching, break entries, and ATR or percentage-based stop controls.
• The excerpt omits the complete signal and order logic and provides no performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.