Pivot Fibonacci Retracements with EMA Trend and ATR Exits

Summary

This strategy builds long and short setups from confirmed swing pivots. It places a prospective entry at a configurable Fibonacci retracement, requires the swing to exceed a minimum ATR size, and expires setups after a set number of bars. Entries also depend on price relative to an EMA across several intraday timeframes, with optional filters for ADX strength, volatility, trading session, minimum reward-to-risk, daily trade count, and time between trades.

Exits can use ATR distances or swing-based Fibonacci levels, with an optional fixed reward-to-risk target. Position size is calculated from equity risk and the distance to the stop. The script also tracks actual position openings and closures before sending alerts and drawing trade lines. The document provides implementation details and configurable defaults, but no backtest results or evidence of profitability; performance depends on instrument, chart timeframe, execution assumptions, and parameter choices.

Key ideas

• Confirmed pivot highs and lows define swing direction and Fibonacci retracement entry levels.
• A minimum swing size measured against ATR filters out smaller setups.
• EMA agreement across multiple timeframes and optional ADX, session, and volatility rules filter entries.
• ATR, Fibonacci, or fixed reward-to-risk settings determine stops and targets, while position size reflects stop distance.
• The script checks for actual position changes before issuing trade alerts and drawing confirmed trade markers.

Tags

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