INTRODUCTION :
The 8 effective steps to build a robust day trading plan using Fibonacci retracement will help us use Fibonacci to locate potential entry points.
Having a trading plan is what differ us from amateurs because professional traders always use their trading plan.
HOW TO USE IT :
You can check the following video that will explain how to
What are the 8 steps to build a robust trading plan based on Fibonacci retracement.
Most common mistakes that trades do.
Applying the trading plan to search for Fibonacci entry points.
PARAMETERS :
This script has 5 inputs, which are
The Price on 50% Level on M5 TF : enter the price
The Price on 61% Level on M5 TF : enter the price
The Price on 100% Level on M5 TF : enter the price
The Second Target on H1 TF : enter the price
The Risk in % : enter the % risk on this trading setup