IronBot V3 is a dynamic TradingView indicator designed to analyze market trends, identify high-probability trade setups, and assist in trade management. By leveraging Fibonacci retracement levels, it pinpoints optimal entry points, stop-loss placements, and take-profit targets, helping traders execute a structured and disciplined trading approach.
Core Strategy
The strategy revolves around analyzing price action within a defined historical window to determine the market trend and identify strategic trade levels. It utilizes Fibonacci levels to assess potential support and resistance zones, ensuring trades are placed in alignment with prevailing trends.
Trend Identification
To define the market trend, the strategy evaluates the highest high and lowest low over a set number of candles. This establishes a price range, within which key Fibonacci levels are calculated:
• 0.236 Fibonacci Level: Acts as an early trend confirmation zone.
• 0.5 Trend Line: Represents the midpoint and serves as a key decision level.
• 0.786 Fibonacci Level: Identifies deep retracement areas where reversals may occur.
Trade Entry Rules
📈 Long (Buy) Setup:
• The closing price must be above both the 0.5 Trend Line and the 0.236 Fibonacci Level.
• The market should not be in a bearish trend.
📉 Short (Sell) Setup:
• The closing price must be below both the 0.5 Trend Line and the 0.786 Fibonacci Level.
• The market should not be in a bullish trend.
If neither condition is met, the trend remains unchanged, and no new trades are initiated.
Risk Management & Trade Configuration
To optimize trade execution and risk control, IronBot V3 incorporates the following customizable settings:
Position Sizing & Risk Parameters
• Leverage: Defines the risk exposure per trade.
• Initial Capital: Determines position sizes based on available funds.
• Exchange Fees & Taxes: Ensures accurate net profit calculations by factoring in trading costs.
Stop-Loss Strategy
• Break Even Mode: Automatically adjusts stop-loss to the entry price when initial profit targets are hit.
• Stop-Loss Percentage: Specifies the risk per trade by setting a predefined percentage below/above the entry price.
Take-Profit System
The strategy supports up to four take-profit targets (TP1 to TP4), allowing traders to scale out of positions systematically.
• TP Ratios: Define exit points based on percentage movements from the entry price.
• Profit Allocation: Distributes position size among multiple TP levels for balanced risk-reward management.
Conclusion
IronBot V3 is a structured trading strategy that combines trend-following principles, Fibonacci retracements, and systematic trade management. By integrating risk controls and automated trade execution guidelines, it helps traders make informed, disciplined decisions while optimizing profit potential.
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https://docs.google.com/document/d/1nZBLQoXzrUqgDuDpni8f82PQ758ubEfK_uVDxRnAOSU/edit?usp=sharing
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