Fibonacci Spectrum + Regression Channel + Confirmations

A versatile multi-strategy tool for technical traders using Fibonacci levels, regression channels, and dynamic confirmations.
📘 Overview
This TradingView strategy script helps traders detect high-probability breakouts, reversals, and trend continuations using:

🔢 Fibonacci retracement zones

📉 Regression channels (local & multi-timeframe)

✅ Multiple confirmations (Volume, RSI, MACD, Candlestick)

🔄 Preset strategy modes (Trend-follow, Mean-reversion, Breakout, Custom)

📊 Visual dashboard for real-time analysis

🔔 Alerts for breakout and breakdown signals

🛠️ Inputs & Configuration
🎛️ Preset Modes
Choose from 4 trading modes:

Custom — manually enable/disable confirmations

Trend-follow — emphasizes RSI & MACD alignment

Mean-reversion — tight channels, ignores volume

Breakout — aggressive setup, tighter fib lookback & wider bands

🔧 Changing preset automatically adjusts parameters like regression length, fib lookback, and confirmation rules.

🔢 Fibonacci Settings
Fib Lookback: Number of bars to calculate the high/low range.

Fib Ratios A-E: Defines retracement levels (0.236 to 0.786 by default).

Zones are shaded for clarity:

🟧 0.236–0.382

🟨 0.382–0.5

🟩 0.5–0.618

🟦 0.618–0.786

📉 Regression Channel
Reg Channel Length: Period used for linear regression.

StdDev Multiplier: Defines channel width.

Multi-Timeframe Support: Choose a higher timeframe (like 1h) to overlay broader trends.

✅ Confirmations (toggle ON/OFF or preset controlled)
Volume: Must be above its 20-bar average.

RSI: Must be above 50 and rising (or below 50 and falling for shorts).

MACD: Line must cross above Signal (bull) or below (bear).

Candlestick Pattern: Looks for Bullish or Bearish Engulfing candles.

📅 Backtest Settings
Enable/disable strategy entries and exits for simulation.

Entries:

Long when price breaks above Fib 0.618 with all confirmations met

Short when price breaks below Fib 0.382 with all bearish confirmations

Exits:

Long exits when price breaks below Fib 0.382

Short exits when price breaks above Fib 0.618

🔍 How to Use the Strategy
🔹 Step 1: Choose a Preset
Pick one of the four Preset Modes:

Want to follow a trend? Select Trend-follow

Expect a price bounce? Try Mean-reversion

Expect volatility? Use Breakout

Prefer full control? Use Custom

🔹 Step 2: Enable Confirmations (if in Custom mode)
Activate/deactivate:

Volume

RSI

MACD

Candlestick Patterns

These filters increase signal quality.

🔹 Step 3: Watch for Signals
Look for:

💠 "READY" labels (potential breakout or breakdown)

Color-coded Fibonacci zones and channel bounds

📈 Entry/Exit signals (when backtesting is enabled)

🔹 Step 4: Use the Dashboard
Located in the top-right, the table shows:

Indicator values

Trend direction (Up/Down)

Status (Bull/Bear, High/Low, Above/Below)

Closest Fibonacci level and candlestick patterns

Colors:

🟢 Green = Bullish or Positive

🔴 Red = Bearish or Negative

🟡 Yellow = Close to a key Fib level

🔔 Alerts (Included)
You can set alerts on the following conditions:

Pre-Breakout — all bullish confirmations + Fib 0.618 cross

Pre-Breakdown — all bearish confirmations + Fib 0.382 break

Position Opened — any strategy entry (for backtest tracking)

To activate:

Right-click the chart → Add Alert

Select this strategy and the condition (e.g., “Pre-Breakout Signal”)

📊 Example Use Cases
🟢 Breakout Trader
Set to Breakout

Watch for “READY” label above Fib 0.618

Confirm with strong volume & bullish MACD

Alert triggers → enter trade

🔴 Mean Reversion Trader
Set to Mean-reversion

Price hits lower channel + Fib 0.382

Weak volume, but RSI rebounds → consider long

⚖️ Trend Follower
Set to Trend-follow

RSI, MACD, and price all moving up above midline

Enter on Fib 0.618 bounce

🧪 Tips & Notes
Combine with multi-timeframe analysis by enabling the MTF Channel

Tweak Fib ratios if you're using alternative levels (e.g., 0.886)

Use strategy.percent_of_equity for dynamic position sizing in backtests

Set proper timeframes (e.g., 15m, 1h) based on your trading style

Not financial advice at all. Strategy still WIP, i mainly think the indicator is ready.