This is a trading item or a component that was created using QuantShare by one of our members.
This item can be downloaded and used by QuantShare Trading Software.
Trading items are of different types. There are data downloaders, trading indicators, trading systems, watchlists, composites/indices...
You can use this item and hundreds of others for free by downloading QuantShare.
Top Reasons Why You Should Use QuantShare:
Works with US and international markets (stock, forex, options, futures, ETF...)
Offers you the tools that will help you become a profitable trader
Allows you to implement any trading ideas
Exchange items and ideas with other QuantShare users
Our support team is very responsive and will answer any of your questions
We will implement any features you suggest
Very low price and much more features than the majority of other trading software
For Free - No Credit Card Required
Optimizable Fibonacci Long and Short Trading System
This is a Fibonacci Long and Short Trading System based on the Generic Trading System Template I have uploaded a couple of months ago.
It will identify past swing highs and lows and generate a buy or sell signal when a certain Fibonacci retrace level - which can be optimized - was hit. Then on the next bar(s) the system tries to open a limit order at the Fibonacci retrace level.
The system uses a stop loss at a Fibonacci Stop Level and in parallel a profit stop at a Fibonacci profit level. Both levels are optimizable. There is also the option to adjust the stop loss to the high/low of previous bar(s).
Pre-requisites
You need to have the Fibonacci Function installed. This will convert the fibonacci index into a percentage.
Also you need the Swing Point Function (SP) (sp). This will calculate the past local high and low turning points.
Finally you need the "Stop Mgmt" Money Management script. This allows use of exact stop levels.
Note
Please note that the calculation of swing points consumes quite a lot of resources if used over a long period with a lot of symbols. One simulator run over 10 years on the 500 S&P500 constituents takes around 30 seconds on my computer.
I spent a lot of hours on this trading system (primarily not on the system itself but on the underlying functions and scripts) and I hope you like it - you can of course use it as is without any consideration as it is from a user for users - but I would appreciate if you could give some feedback in the forum on the markets you used, how the simulation performed, what Fitness function you used, which parameters worked best and so on. Or if you want to send a bottle of wine - ask support for the address :-)
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
