Recruitment of participants Fibar Scalping NT8

Fibar Scalping NT8



Fibar Scalping draws its design from the Fibonacci retracement levels: 23.6%, 38.2%, 50%, 61.8%, and 78.6%.



Delving into its function, Fibar Scalping assists you in determining whether a reverse will continue its direction or not following each reversal candle. Because Fibar Scalping uses Reversal candle as the main factor for analysis and signal generation, it is developed exclusively based on the KingRenko$ bar.

When a reversal bar forms, it indicates a temporary reversal. But how can we reliably determine if the price will continue in the same direction as the reversal bar?

Fibar Scalping is the answer. This ingenious indicator will generate a Fibar signal if 3 main criteria are satisfied (please refer to the illustration below):

A Reversal bar appears
A Retracement occurs right after the reversal bar, meeting the required percentage or a specified tick set in the Min. Retracement parameter.
After that, the price returns to the direction of the mentioned reversal bar.