FiboLevel boing boing system

Hi all,

I'm trading this system for some time now. There was a thread here talking about it, but it's now down ( or lost ?) .
It's sad because it's indeed a very simple and profitable system .

I'm looking here for advices and any ideas to make it even better, and also for people interested in a simple and working trading system to play with ( if they are lost ).


The main idea is to wait for price to fail passing a daily fibo level.

Indicators are made to just help to visualize this and make it easy to detect.

It works at any timeframe on any pair and in any market context ( trending or ranging).

It's a complete system, in the way it has leading indicator and lagging one to confirm.

How to trade :

1- Wait for 3_Level_ZZ_Semafor to start to be in level 3
2- Wait for price to touch a fibo level then retrace . Retrace will be seen when Heiken Ashi change color.
3- Check stochastics to cross. Usually, it's already on the right side ( more than 80 for a sell and less than 20 for a buy).
4- TRADE !

StopLoss is just after the last High/Low
Take Profit can be to next Level, or 2 or 3 levels further.

More details on this in next posts, we will detail that with examples.


Heiken Ashi is optional, if you know how to recognize price action patterns. For me it's just more easy this way.

VERY VERY IMPORTANT NOTE : 3_Level_ZZ_Semafor is a REPAINTING indicator !! I know lot of people don't like it and find completely useless for trading. Integrated in this system, it's very powerful if you jsut think this way ---> Hey, there's a level 3 coming, let's be focus on this one until it reverse on a fibo level !
That's it . Never jump on a trade because you see a 3 poping up, because this 3 will move until it really reverse. Here it's used as a leading indicator to just make you attentive !

Here you will find more explanations about 3_Level_ZZ_Semafor ! It's better than my own explanations.

I've setup also 2 MA, it's just here to help to see trend on higher timeframes.


Here comes the indicators and template i'm using actually.

Just to visualize better, here comes a little sample from today AUD/USD

as you can see. it's quiet easy to detect and trade .

Note, its a very good sample, the best trades are usually made from a nice reverse right on a pivot line ( daily pivot is the best)

One more with EUR/USD yesterday.

Was the start of this nice selloff.


I noticed if you check on 5 or 6 pairs , you have big chance to have a nice setup everyday.

About the indicators, i reprogramed pivot levels myself, just to see diferent levels by day.

This way it's more easy to see in the past where we had good setup.


There's also a nice MTF shi channel. I don't really use it for now, but it helps also to see the trend direction .

Maybe an idea to trade on those levels too ? let's explore this

You're free of course to remove it if the result is too messy for you.

The most important after all are the fib levels, and stochastics. We could trade just with that. Other indies are just to make the setup faster to read when you trade with 6 or more pairs.

Of course, i didn't mention it , but its very good when you start with this method to take ONLY the setup going at the same direction as the currrent trend.
To see that, jsut change your timeframe.
For example, if like me you trade intraday in 15M, just have a look at H1 and H4 to see where we are in bigger trend. ( MA200 helps).
If going up, wait for a buy signal only.

See this sample, If you took counter trend trades, you would loose 2 or three times . At each level, you would have a 3 level showing, and a retrace at a fibo level. But price went further after all .

Mypivot wont compile.

Here are the errors

oops. my mistake !

last minute change. forgot comment line . sorry

here come new version .

i will update the first zip

Hi Serg...
Thanks for sharing. I like this style of trading so I'll follow you to see how this progresses. My broker is on US EST so our pivots might be a little different, although they said they are changing to GMT soon.
I assume you trade mostly the London session and I'll be trading the US session so we'll see if we can help each other.
Do you use any other S/R levels or Fib levels?
Do you have any other entry rules such as which candle to enter on or to wait for candle close?

hi Bary,

Thx for your interest. I'm in France , so yes. i trade London session and NY session as here it's just the normal working day.
I don't use any other S/R or fibo for this system, it would become too complicated and i noticed if i use trend-lines, S'R or fibo, it becomes confusing and i miss good trades.
What is important here is that even if it doesn't look like, it's really price action trading. So we are taking what the market actually does, even if there's use of indicators.
I use Heiken ashi because i found it was more simple to detect reversals. It usually correspond to one of well known patterns in price action trading ( engulfing, pin bar, etc..).
I will try to post trades i take as it comes.
I'm now in process of optimizing the choice of trades.

Extra Rules for now are :
1- Trades only in the higher time frame trend ( up or down)
2- Reversal on daily pivot if possible
3- Reverse right on the line ( a few pips are ok )
3- Happens around opening session of London or NY

I noticed those trades are the best one ( return 1:4 1:5) !!

Let's see if live trades confirm this or not

Hi Serg,
You method looks good and i trade in ASIA session. Will try it and provide the details...

Velli

Hi velli,

I never trade asian session, as it's night here. I'm interested to know if i works good too.
I've noticed there was some stupe at night too, so it should be ok.