Fibonacci ORB Scanner #3This is the same as the Fibonacci ORB Scanner (public) -->
However, it can be set to different parameters and appears on the left side of teh screen.
I like to monitor the fibonacci levels for several different timeframes for a broader market analysis. To do this I generally use a blank chart (no candles/price action) and load all 3 Scanners at once on different timeframes.
I get a lot of my trade ideas based on these scanners.
Take a look at my other scripts for an idea of how I put these scanners to use with the Fibonacci Matrix.
Orbs
Weekly Fibonacci MatrixThe weekly Fibonacci Matrix builds a matrix based on specific time and price criteria. It is paired with higher and lower timeframe matrices to identify key entry and exit points for day trades and intraweek swing trades.
This is part of a full suite of tools I have developed for matrix analysis and ORB breakouts.
Daily Fibonacci ORBsORB Breakout strategies are a common way to daytrade.
The Daily Fibonacci ORBs are designed to give traders a quick edge in their trading analysis by showing the Fibonacci levels as established by the opening range.
In theory, one can play calls above the 1.0 and puts below the 0.0.
However, I recommend pairing the Daily Fibonacci ORBs with a suite of Fibonacci tools that I have developed, that give users levels based on the week, month, and quarter, to determine which positions to enter, and how long to stay in them.
The full suite of tools includes:
1. Daily Fibonacci ORBs
2. Weekly Fibonacci ORBs
3. Monthly Fibonacci ORBs
4. Quarterly Fibonacci ORBs
5. Fibonacci ORB scanner (x3)
6. Matrix analysis masterclass, showing how matrices are built, which levels must be watched, and when to enter and exit based on matrix analysis.
Fibonacci ORB scannerThe Fibonacci ORB scanner allows users to monitor Fibonacci Levels as defined by a user-defined time range.
The 0 Fibonacci and 1 Fibonacci will be defined by the lowest and highest price points during the defined time period.
The scanner can be set to intraday settings or any user-defined time-frame ("Delivery" settings).
A common way to use the scanner is to set it to the first 15 - 30 minutes of the day.
When prices are above the opening range set by the user, the ticker will enter the "Buy" column.
When prices are below the opening range set by the user, the ticker will enter the "Sell" column.
When prices are contained within the opening range set by the user, the ticker will enter the "Neutral" column.
The "Delivery" settings can be used to define an opening range that exceeds standard ORB levels.
One way to use the Delivery settings is to set them to first week of the month.
The scanner will then show "buy" for any ticker that is above the first week's high, and show "sell" for any stock that is below the first week's low.
The scanner is meant to be used in conjunction with my Fibonacci Matrix system, which gives users pre-defined fibonacci levels for each day, week, month, and quarter, each designed for a different type of trader.
You can DM me for access to my full suite of Fibonacci Matrix indicators.
