RSI + FIB HH LL StopLoss Finder／Contrarian Trades

28 Eyl 2023

This indicator is a multi-timeframe indicator that works in any timeframe.

It takes a price reading of the highest or lowest bar in the past based on Fibonacci numbers and plots it.

In addition, the RSI smoothed by a 5-day moving average can be used to detect signs that previous highs or lows will be reached in advance.

This gives insight into determining stop-loss values or entering the market in a contrarian manner.

This is an example of BTCUSDT 4Hour Chart


Here is BTCUSDT 1Hour Chart


For scalpers BTCUSDT 15min Chart Example


Fibonacci Number is 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, ...
FIbonacci Ratio is 0.236, 0.382, 0.5, 0.618, 1, 1.618, 2.618, 4.236, ...