Step-by-Step Guide to Building a Fibonacci Retracement Forex Trading Indicator in Python

[@inbrandtive]

I'm new here, been looking to learn python algo trading to code my strategies and found your channel. I love your videos, keep it going man.

[@CodeTradingCafe]

Hi thank you for your support, and welcome aboard!

[@mmustap3]

Man you're always providing such golden content. I really appreciate your videos.

[@CodeTradingCafe]

Glad you like them! Thank you for your support, if you have any specific indicators/ideas let me know I might (depending on the idea :) ) go for it in one of my videos. Good luck!

[@vassiliscapsis5828]

Excellent coding, somehow difficult for my knowledge level and the results are also very interesting. 26 trades in 3 months is like a trade every 3 days (1-2 trades a week). It certainly needs a deeper look. Thank you Ziad once again

[@CodeTradingCafe]

Thank you Vassili, I think this is a good indicator to add but keep the trading for the trader it can't be fully automated yet.

[@dorontobiano1134]

Great video, as always! Following this video, can you make a video on the ICT silver bullet? The retracement is important in this strategy. Thank you for all these videos !

[@CodeTradingCafe]

Hi thank you for your comment, I am adding it to a long list, I hope you are not in a rush :) thank you for your support!

[@joshuawalker2154]

Was looking for this comment

[@sweealamak628]

Fibonacci Retracement is quite reassuring when used correctly. I've coded my own with good old fashioned For Loop rather than Dataframe Vector approach because I get to understand the price journey. Just one friendly comment about the thumbnail: I think reversal didn't occur at the (edit:0.768) level, it occurred later when a large down belt & Doji appeared. The Fibonacci lines can still be used but rather than retracement for a continued trend, you can use it for the exact opposite reason: identifying the end of a short term trend. Consider exploring 😊

[@CodeTradingCafe]

Hi, thank you for sharing, you are actually right the Doji confirms the signal, numerically the signal is triggered earlier because the only condition is to be in the golden zone, maybe I might add an additional condition with a candle pattern in the golden zone, I think I like this :)

[@weifengyam6229]

Hello! How do I incorporate this into the trading bot code you have provided earlier?

[@CodeTradingCafe]

Good question, this one has to be done through a video to be honest, way too long for a comment, I will consider it as a priority (I had this in mind for one of my next videos).

[@lucksimi3320]

Hi Can you code in phython wyckoff accumation distribution, thanks

[@CodeTradingCafe]

Hi, I am adding it to a long list, will get there eventually! Thank you for the idea.

[@lucksimi3320]

@@CodeTradingCafe Hi Do you code for individual privately?

[@ithaca2076]

I absolutely love your videos - even though I'm not much of a trader you can still apply this knowledge to other kinds of analytics. Have you ever considered making a trade management algorithm? Where instead of setting fixed tp values for example, you set them as variables to better narrow down your margins?

[@CodeTradingCafe]

Hi, this is my very next video, dynamic trade management has big influence on the results, and I never included anything of the sort in my videos so far, hopefully I will manage to record something in the coming weeks. Thank you for your support :)

[@rodolphedevaureix557]

Hi, thanks for your video. I think we can never have dtn == 1 AND upt == 1 (cf. 3'10), because either open or close are necessarily above or below the EMA. The unclear pattern (EMA signal == 3) is when we have both dtn and utn == 0, which means some of the 15 candles open/close above the EMA and some open/close below. Don't you think?

[@CodeTradingCafe]

hi, thank you, you are correct for the first one. For the second idea it's not a problem because when we have both dtn=0 and utn=0 then we have no signal we're just skipping.

[@mohmedtaalibi7861]

thank you i m from moroco i love your worke i m debaut i still learning

[@CodeTradingCafe]

Thank you for sharing, you will enjoy coding in no time, good luck!

[@santhoshdasari7]

Thanks a lot for sharing 🙏 If u could please code for “range filter 5min”

[@CodeTradingCafe]

Hello, can you provide more details please? thank you

[@santhoshdasari7]

@@CodeTradingCafehis is Treading view indicator…

[@lch4025]

the strategy is quite good, however I have noticed that during the calculations of rsi and ema the first value (window 12 and 150) are rid and become None which has impact for further calculations.

[@CodeTradingCafe]

Hi thank you, it's totally normal because you need at least x amount of candles to compute the RSI and the EMA so no values are computed before these candles.

[@guruofcash]

Your channel is great! can I use your videos and explain them briefly with reference to your channel in my language (turkish) as a post in twitter?

[@CodeTradingCafe]

Sure you can! thank you for your appreciation!

[@livrevous6993]

Thank you for all these explanations. I would like to ask you something please. can you trade directly with this code? How I can do it please? maybe my question is stupid 😊

[@CodeTradingCafe]

It's not a stupid question, at the end we build these codes to put them on the market. As is the code is not tuned for live trading, still needs and API connection to a broker and some tweaks, this is just a backtest of the indicator. Check this video kzbin.info/www/bejne/jZTJfJSQgZmppqM

[@livrevous6993]

@@CodeTradingCafe thank you so much. if that's not too much to ask can you help me to code a bot for the binary option. even when doing traditional trading I have an idea, I don't know how to build it.

[@zetratrading]

Great video! I liked the idea about setting up notifications that you mentioned at the end. I will do it and add to the github repo. Thanks!

[@CodeTradingCafe]

Hey, thank you for your support, check this one I used email notification in it: kzbin.info/www/bejne/oHfcm2etbZ2eoNU I hope it helps

[@zetratrading]

@@CodeTradingCafe Thank you. I will check it out. I was going to use Telegram.

[@shortfacts-qy5ke]

i have a good idea for you try to add sma 200 with rsi 2 if the price above sma and rsi between 0 t0 10 it means the retracement is finshed and buy signal and if the price less 200 sma and rsi between 90-100 it should be sell signal try it with fibo if the price uptrend and fibo between 161.8 and 127 it should make reracement

[@CodeTradingCafe]

I like RSI exit strategies, I had good results with it in the past, did you see this video? kzbin.info/www/bejne/oGq7la2pg9upic0

[@shortfacts-qy5ke]

@@CodeTradingCafe no I will check it really you are good I will check if I can combine some of your strategies together

[@CodeTradingCafe]

Keep up posted :) Good luck!

[@crystalwatertherapy]

hi, i have ran this code on daily pay-pal stock but it doesn't generate any signals. which hyper parameters you would sugeust to change? I want it to generate many signals so i can do a meta labeling on it. thanks in advance.

[@CodeTradingCafe]

Hi, it's hard to guess without trying. I think the best is to tune each parameter on its own starting from the least selective combination.

[@crystalwatertherapy]

@@CodeTradingCafe I'm new to this, would you provide more info. do you mean i change parameters in "generate_signal" def ? i would really appreciate it if you name some parameters to tune. 🗯💯❤

[@knk0112]

Your videos are a great source of learning Algo-trading. Thanks a lot! Can you please think about making a video on how to back-test Short Strangles and Iron Condors (one of the most famous option strategies in non-directional trading) in Python?

[@CodeTradingCafe]

Thank you for your appreciation, I will consider the SS and Iron condors, but this might take a while since I am having a lot of requests.

[@joseasanchez200]

Do you have a bot for sp500?

[@CodeTradingCafe]

Hi, yes check this video it works on stocks kzbin.info/www/bejne/oGq7la2pg9upic0

[@Krisler12]

Please do harmonic patterns. Many people say that this is really work very well. Thank you in advance!

[@CodeTradingCafe]

Hi, thank you for sharing, do you have more details or more specific strategy plan? or anything related to harmonics would work?

[@Krisler12]

Hi! Your welcome! Sorry for delay. No, I don't know any strategy exactly just heard a long time ago from KZbin videos and also from their comments that harmonic patterns combined with Fibonacci Retracements levels your are talking about here and also maybe adding some moving averages just works very good. Thank you too!

[@rverm1000]

im running into trouble at 10:10 stop loss and take profit is 0. other than that nice video

[@CodeTradingCafe]

Hi, make sure you run the previous cells first check at 09:45

[@AliNazemi75]

You did great , thank you for sharing Just want to know if we can have these python script ? Do you have any telegram channel that we can these scripts? Thank you so much again for your helpful KZbin channel

[@CodeTradingCafe]

Thank you for your support, you can download the python scripts from the links in the description I usually share the code for every video. Good luck!

[@sigmareaver680]

12:38 I'm starting to doubt myself here, but since you are calculating tp2, I'm still guessing it's a bug that you're using tp1 twice instead of tp1 and tp2... I have no idea how much this affects your results though...

[@CodeTradingCafe]

Thank you, you were right , tp1 to be replaced by tp2, thanks again for keeping a close eye on the code, I honestly didn't expect that much attention to the details. Hopefully you will stick around :)

[@ahmedkzaid5459]

hello , i hope you reply to my comment , i find it hard for me to apply this code to trading view , is there's anything im missing or misusing ? please help me out !

[@CodeTradingCafe]

Hi, Trading view uses Pine language, this code runs in Python a completely different environment, the code here as is runs only in python

[@ahmedkzaid5459]

Thank you so much ❤

[@shortfacts-qy5ke]

i tried to use your code on gold set it did not give any signals i dont know why !!!!

[@CodeTradingCafe]

Hi, you can change the parameters to fit with the gold price range, this is now tuned for EURUSD.

[@joseasanchez200]

538 / 3000 Traducción I have a system but I don't know how to make the Python program, I don't have a backtest, could you do it? Here are the rules: For sp500 time frame 4h or 1h depends on the number of signals we want. We wait for the price to break the trend line and correct within the 38.2 and 61.8 of fibonacci, then the buy or sell signal is given by the stochastic when it cuts. The stoploss is the last low or high of the correction and the take profit is the last high or low of the trend. We understand that it changes trend when it exceeds 61.8.

[@CodeTradingCafe]

Hi, thank you for sharing your strategy. I am misunderstanding some pieces here, can you please elaborate step by step?

[@joseasanchez200]

Give me your email and Ill send you It step by step

[@CodeTradingCafe]

Hi, thank you, my email is in the about section of this channel (I don't want to share it in the comments to avoid spam)

[@absolute8913]

I love your content, if you could be kind to help us with MT4 as when i put the script it gives me some errors. also, if you have a perfect bot like 70% win rate i would love to give it a try thank you for ur wonderful work

[@CodeTradingCafe]

Hi, thank you for your support, I am not using MT4 anymore (since over 5 years now), Python is more fun :) Good luck!

[@guilhenfsu2]

wrong link of code

[@CodeTradingCafe]

Sorry just updated let me know if it works

[@guilhenfsu2]

@@CodeTradingCafe tks ♥

[@_AbUser]

I always talking to traders "You magic fibonacci is only the half of previous wave +-10 percents, the magic of 38 and 62 levels is only the dispersion of 50 :))))) "

[@CodeTradingCafe]

Actually yes you are right Fibo is just 1/3 of the previous movement, nothing magical about it, and only some patterns fit within the Fibo conditions, I think the reason it's good in not because of any powerful prediction it's just the risk reward ratio involved and you basically use it along the trend.

[@georgewiggins5685]

😻 "Promo sm"

[@CodeTradingCafe]

thanks although I didn't understand !

[@H_EL]

Hello..thanks for your top content. I have a question plz..how to code this price action " 3 or more green bullish candles and then 1 or more red bearish candles, then the price break the high of the red candle or break the high of the last green candle for buy..the oppisite for sell" thank you. I sent you a photo to ur GMAIL Thank you.

[@CodeTradingCafe]

Hi thank you for sharing your idea, I will check the email for details, add this strategy to my list, just keep in mind it might be a while before I can make a video about it (the list is kind of long).

[@H_EL]

@@CodeTradingCafe Thank you so much..All the best.

[@BillyButcher-X]

binary trading strategy you are asking for right

[@BillyButcher-X]

i made it and back tested on demo account binary trading on quotex and givea around 70-90 percent accuracy depending on days

[@H_EL]

@@BillyButcher-X WOW!!..Thanks so much..sounds good. I need it for forex trading..wanted to code it EA MQL5. But I can try it on binary trading..did you code it?..send me details plz. Thank you & all the best