Pwpetch004//@version=5
strategy("Fibonacci and Volume Strategy", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=10)
// Input for volume threshold
volThreshold = input.int(100000, title="Volume Threshold", minval=1)
// Calculate the highest high and lowest low over the past 24 hours (24 bars on a 1-hour chart)
highLevel = ta.highest(high, 24)
lowLevel = ta.lowest(low, 24)
// Calculate Fibonacci levels
fib382 = lowLevel + (highLevel - lowLevel) * 0.382
fib618 = lowLevel + (highLevel - lowLevel) * 0.618
// Plot Fibonacci levels
plot(fib382, color=color.blue, linewidth=1, title="Fib 38.2%")
plot(fib618, color=color.red, linewidth=1, title="Fib 61.8%")
// Check 24-hour volume
vol24hr = ta.sma(volume, 24)
highVolume = vol24hr > volThreshold
// Long condition: Price above 38.2% Fibonacci level with high volume
longCondition = close > fib382 and highVolume
if (longCondition)
strategy.entry("Long", strategy.long)
// Short condition: Price below 61.8% Fibonacci level with high volume
shortCondition = close < fib618 and highVolume
if (shortCondition)
strategy.entry("Short", strategy.short)
// Plot volume for reference
plot(vol24hr, color=color.purple, title="24-Hour SMA Volume")
hline(volThreshold, "Volume Threshold", color=color.gray)
