Fibonacci Retracement Strategy

Fibonacci Retracement Strategy at a glance

Kind of rule	A gauge with a line (momentum oscillator)
Buys or sells	It can buy, and it can bet on falling prices.
Built on	Bollinger Bands, Donchian Channels, Fibonacci, RSI
Where it was published	TradingView, by its author, as a Pine Script strategy
Tested on	12 cells: 12 coins, October 2021 to June 2026, no fee
Trades placed	none
Page updated	2026-11-08

Fibonacci Retracement Strategy backtest results, every cell

There is no cloud of cells to draw. The frame below says why.

How Fibonacci Retracement Strategy works

Rules in this group usually work like this. It reads a gauge such as RSI, a number that swings between low and high, and it acts when that gauge crosses a line the author chose. Those lines are the rule. Move the lines and the result can change. The next paragraph is this particular rule, which can be narrower than the group.

It can buy, and it can bet on falling prices. It acts only when several checks agree at once. It leans on BB, RSI; those names are explained on their own pages, further down. The exact line is in the list below, in the author's names, and you can skip that list. When it enters, it also sets a stop or a target, so a trade can close without a new signal.

The author did not set a size, so each trade uses whatever amount the code assumes. It holds one trade at a time.

The exact condition, from the code

Same rule, translated from the code, in the author's names. You can skip this list if the paragraph above was enough.

• Enters long when the 14-period RSI of the close (1 when Use Confirmed RSI / Bands (on), else 0) bars ago is at or below 30 and the close is at or below the Bollinger lower band (1 when Use Confirmed RSI / Bands (on), else 0) bars ago and the close is at or above fib level and not (a short position is open) and no position is open.
• Enters short when the 14-period RSI of the close (1 when Use Confirmed RSI / Bands (on), else 0) bars ago is at or above 70 and the close is at or above the Bollinger upper band (1 when Use Confirmed RSI / Bands (on), else 0) bars ago and the close is at or below fib level and not (a long position is open) and no position is open.
• Closes the position when the 14-period RSI of the close (1 when Use Confirmed RSI / Bands (on), else 0) bars ago is at or below 30 and the close is at or below the Bollinger lower band (1 when Use Confirmed RSI / Bands (on), else 0) bars ago and the close is at or above fib level and a short position is open.
• Closes the position when the 14-period RSI of the close (1 when Use Confirmed RSI / Bands (on), else 0) bars ago is at or above 70 and the close is at or above the Bollinger upper band (1 when Use Confirmed RSI / Bands (on), else 0) bars ago and the close is at or below fib level and a long position is open.
• Places a stop at (the average entry price − Stop Loss Price Distance (1)), a target at (the average entry price + Take Profit Price Distance (1)) when a long position is open.
• Places a stop at (the average entry price + Stop Loss Price Distance (1)), a target at (the average entry price − Take Profit Price Distance (1)) when a short position is open.

Buys or sells	It can buy, and it can bet on falling prices.
Tools it calculates	Bollinger Bands, Donchian Channels, Fibonacci, RSI
A second chart speed	No. It uses one chart speed only.
Only at certain hours	No.
Adding to a trade	It holds one trade at a time.
How much it trades	The author did not set a size, so each trade uses whatever amount the code assumes.
Cost the author assumed	The author assumed no trading cost.

Default settings

The test used the defaults in the middle column. Nothing was turned to help a coin.

Setting	Default	Group
RSI Period	14
Bollinger Bands Period	30
Bollinger Bands Deviation	2
Fibonacci Lookback	500
Fibonacci Level	0.5
Use Confirmed RSI / Bands	on
Stop Loss Price Distance	1
Take Profit Price Distance	1
Show Bollinger Bands	on
Show Fibonacci Zone	on
Show Background	on
Show Additional Signals	off

How the backtest was run

Every strategy was tried the same way, on the settings the author published.

The years are October 2021 to June 2026. The prices are from Bybit, for 13 widely traded coins, mostly on hourly, 4-hour and daily charts, with some faster charts. That was 47,242 tries. The window stored in the files is 2021-09..2026-06.

599 rules produced a finished try. A rule that finished above zero on at least 12 cells, before any fee, was tried again with a fee of 0.12 percent per side. Only buys are counted in that second try. 273 rules got it.

The method, the aggregate results and a downloadable table are on the study page. What the desk does with the results beyond these pages is its own.

Before any fee, it was tried on 12 cells, and it placed no trades.

It was not run a second time with a fee. That second pass happens only when at least 12 cells finished above zero before fees. 273 rules got that pass.

Cells tried	12
Cells that placed a trade	0
Finished above zero	0

Label: backtest · old prices, zero commission · Oct 2021 – Jun 2026. Hypothetical results; see the risk disclosure.

How to read the result

How to read the number

No cell took a trade, so there is no return to read. The rule above is the whole note.

What this does not show

The useful question is what happens if the author's lines are moved a little. If the result changes a lot, the result is the lines.

There is no cell to single out, and this note does not invent one. Other years, another exchange, or another fee would be a different measurement.

Questions about Fibonacci Retracement Strategy

Words used on this page

Backtest

The rule was tried on old prices. No real money moved.

Cell

One coin on one chart speed. Bitcoin every 4 hours is one cell. Bitcoin once a day is another.

Chart speed

How often a new price bar is drawn. 15m means every 15 minutes, 1h means hourly, 4h means every 4 hours, 1D means once a day.

Fee, per side

A cost taken each time the rule trades. Per side means once on the way in and once on the way out.

Median

Line the cells up from the biggest loss to the biggest gain. The median is the middle one. Half the cells did better and half did worse.

Drawdown

The deepest fall from a high point along the way, as a percent of the account at that high.

Above zero

The account finished with more than it started.

The indicators Fibonacci Retracement Strategy uses

Each has its own page: what it measures, how it is read, where it misleads.

• Bollinger Bands: a moving average with two standard deviations on each side
• Donchian Channels: the highest high and lowest low, and the breakout rule they define
• Fibonacci retracement levels: where the ratios come from and what a backtest can say about them
• RSI (relative strength index): the formula, the 70/30 rule, and why it misleads in trends

"Fibonacci Retracement Strategy" was published on TradingView by its author, under the author's own license. This page is an independent reading of those rules and of what they did on these old prices. It is not written with the author, and it is not a recommendation. Not every detail survives the translation onto this page, so read the original before you rely on it.