OPEN-SOURCE SCRIPT
Updated VWAP + Fib + Candlestick Pattern Strategy
### **VWAP + Fibonacci + Candlestick Pattern Strategy (v6)**
This indicator is designed to identify high-quality trading setups using a combination of **Anchored VWAP, Fibonacci Retracement Levels, and Candlestick Patterns**. It helps traders find optimal entry points where multiple confluences align, enhancing trade accuracy.
### **Key Features:**
✅ **Anchored VWAP** – Starts from the last pivot low (bullish) or pivot high (bearish) to determine trend strength.
✅ **Fibonacci Levels** – Uses key retracement levels (0.382, 0.5, 0.618, 0.786) for added confluence.
✅ **Candlestick Patterns** – Detects Pin Bars, Engulfing Candles, and Hammer Candles for potential reversals.
✅ **High-Quality Setups** – Highlights strong signals where price aligns with VWAP & Fib zones.
✅ **Alerts** – Get notified when a bullish or bearish setup is detected.
✅ **Risk Management** – Includes Take Profit (TP1, TP2, Final TP) & Stop Loss based on ATR.
✅ **Position Sizing** – Calculates position size based on a fixed dollar risk per trade.
### **How to Use:**
1. Apply the indicator to your chart.
2. Look for signals near Fibonacci retracement levels and VWAP.
3. Use alerts for real-time trade notifications.
4. Manage risk with built-in TP/SL and position sizing.
Perfect for traders who use **Price Action & Smart Money Concepts** to refine their entries! 🚀
This indicator is designed to identify high-quality trading setups using a combination of **Anchored VWAP, Fibonacci Retracement Levels, and Candlestick Patterns**. It helps traders find optimal entry points where multiple confluences align, enhancing trade accuracy.
### **Key Features:**
✅ **Anchored VWAP** – Starts from the last pivot low (bullish) or pivot high (bearish) to determine trend strength.
✅ **Fibonacci Levels** – Uses key retracement levels (0.382, 0.5, 0.618, 0.786) for added confluence.
✅ **Candlestick Patterns** – Detects Pin Bars, Engulfing Candles, and Hammer Candles for potential reversals.
✅ **High-Quality Setups** – Highlights strong signals where price aligns with VWAP & Fib zones.
✅ **Alerts** – Get notified when a bullish or bearish setup is detected.
✅ **Risk Management** – Includes Take Profit (TP1, TP2, Final TP) & Stop Loss based on ATR.
✅ **Position Sizing** – Calculates position size based on a fixed dollar risk per trade.
### **How to Use:**
1. Apply the indicator to your chart.
2. Look for signals near Fibonacci retracement levels and VWAP.
3. Use alerts for real-time trade notifications.
4. Manage risk with built-in TP/SL and position sizing.
Perfect for traders who use **Price Action & Smart Money Concepts** to refine their entries! 🚀
Release Notes
### **VWAP + Fibonacci + Candlestick Pattern Strategy (v6)** This indicator is designed to identify high-quality trading setups using a combination of **Anchored VWAP, Fibonacci Retracement Levels, and Candlestick Patterns**. It helps traders find optimal entry points where multiple confluences align, enhancing trade accuracy.
### **Key Features:**
✅ **Anchored VWAP** – Starts from the last pivot low (bullish) or pivot high (bearish) to determine trend strength.
✅ **Fibonacci Levels** – Uses key retracement levels (0.382, 0.5, 0.618, 0.786) for added confluence.
✅ **Candlestick Patterns** – Detects Pin Bars, Engulfing Candles, and Hammer Candles for potential reversals.
✅ **High-Quality Setups** – Highlights strong signals where price aligns with VWAP & Fib zones.
✅ **Alerts** – Get notified when a bullish or bearish setup is detected.
✅ **Risk Management** – Includes Take Profit (TP1, TP2, Final TP) & Stop Loss based on ATR.
✅ **Position Sizing** – Calculates position size based on a fixed dollar risk per trade.
### **How to Use:**
1. Apply the indicator to your chart.
2. Look for signals near Fibonacci retracement levels and VWAP.
3. Use alerts for real-time trade notifications.
4. Manage risk with built-in TP/SL and position sizing.
Perfect for traders who use **Price Action & Smart Money Concepts** to refine their entries! 🚀
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.