Fibonacci Limit Orders with Dynamic Repricing and DCA
Summary
This script demonstrates an alert-driven limit-order workflow using price levels derived from recent pivot highs and lows. A selected Fibonacci-style level sets a prospective long entry; as that level changes, alerts can place, move, or cancel a limit buy. When an order fills, the strategy updates its average-price-based take-profit target and can add to the position after a configured adverse move. A start-time gate and short pauses after order events support coordinating alerts with a test environment.
The author explicitly presents the example for Binance Futures Testnet and warns that it is not intended for live trading. Pyramiding is enabled and there is no stop-loss, so repeated additions can leave exposure open through a large decline. The document explains alert commands and configurable settings, but reports no performance results. Its Fibonacci levels and DCA rules are implementation choices, not evidence that the entry levels predict price behavior.
Key ideas
- Recent pivot highs and lows define a range used to calculate selectable Fibonacci-style entry levels.
- Alerts place, reprice, or cancel a limit buy as the selected level changes.
- After fills, the workflow can add to a long position and update its take-profit target.
- The example is intended for a futures test environment and has no stop-loss.
- Pyramiding and averaging down create substantial exposure risk, and no performance results are given.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.