Configuration of Fibo retracement + rules

[Tomasz Kot]

Could you consider two below improvements to "Reaches Fibo retrace":

1. Would it be possible for the rule to activate only once per level reached?
Currently the rule triggers several times - each time the chart touches the same level (either from above or from the bottom).
It would me much more practical if it triggered only once.
(Or there could be a checkbox for managing the preferred behaviour if both options were needed).

2. Would it be possible to have checkboxes in Fibo tool configuaration, allowing to select which level(s) should trigger the rule (and which not)?

[NakedMarkets]

Thanks for your suggestions,
About the 1. we will think about it to see how to implement it.
However, about the 2., currently, deactivating the display of the fibo level deactivates the rule triggering, so we think that it's already efficient

[Tomasz Kot]

Regarding point 2 - there are common scenarios, when someone would like to see a level, but not trigger a rule on it.

I will share usercase example - just in case you would like to reconsider point 2.

Usercase
I enter on 68% Fibo retracecement. This level should trigger my orders.
However I still need to see additional Fibo levels on my chart:
- for example 0% and 100% - for orientation purposes (also it is usually tp and sl place),
- 50% - to see if price ever reached 50% retracement (in cases when it didn't reach 68%).

In summary - it would be practical to keep more levels visible on the chart, but select only individual one(s) that will trigger a rule.

[Tomasz Kot]

I have been thinking about it and I will streamline the idea.

The best solution would be to point in a rule, which level it should trigger to.
That is because various level have different meaning and expected action.

For example, I would love to define rules in a following way:
- when price reaches a given Fibonacci retracement (like 68%), it would open a trade (or pause the backtest for manual decision about entry),
- upon entry sl would be automatically set to a given level (most commonly 100%),
- tp would be set to another level (most commonly 0%).

I believe that is what people are doing most often with all Fibo strategies and being able to automate a certain action (or setting sl/tp) at a given Fibo level would be very useful. At the moment all the actions have to be done manually.