Automatic Advanced Intraday Fibonacci levels for Day Traders.
This is an automatic Intraday FIB levels Screener.
The Intraday levels are auto-calculated based on Today’s Opening PRICE and Standard Deviation of 5 days volatility .
Following Series, Levels are screened in either direction.
- Intraday LEVEL 0.236 as Target 1
- Intraday LEVEL 0.382 as Target 2
- Intraday LEVEL 0.5 as Target 3
- Intraday LEVEL 0.618 as Target 4
How to interpret the Intraday Fibonacci Screener values?
Long Positions are initiated when price crosses UP the Forward level on Column S.
Short Positions are initiated when price crosses DOWN the Reverse level on Column Q.
If Long Positions are initiated as Price crosses UP the Forward level on Column S, the STOP LOSS will be the level at Column Q and Vice-Versa.
Levels are populated based on Today’s Opening Price and Standard Deviation of 5 days Daily Volatility.
What is the MTREND COLUMN?
The MTREND Feature on the last column identifies the Master Trend Direction of Daily Candles based on a Proprietary Algorithm.
MTREND acts as a Master Filter. Ideally, take trades only if FORWARD or REVERSE levels are triggered in the direction of the MTREND.