[Tool Tutorial] Episode 2: TP/SL Preset Registration Feature

I confirmed the rebound, at that moment

Last time I talked about how when you draw Fibonacci, the level and price are displayed automatically. Next is the moment to confirm the rebound and decide whether to enter.

However, even if you can judge and analyze, there is still the task of determining TP/SL prices and levels and adjusting them. I think many people get confused here.

Since you analyze each point and adjust the lot size accordingly, it quietly takes time. I often found my hands stopping here as well. Some of you may feel the same.

Presets can register multiple TP/SL combinations.

FTS has a feature called “Presets.” You can pre-register combinations of TP and SL.

There are three for BUY (B1, B2, B3) and three for SELL (S1, S2, S3).

When you press a button, the TP/SL badges are placed exactly at the positions of the registered combinations.

For example, in this screen both B1 and S1 are set to “TP side 0.0, SL side 100.0.” It is the widest pattern that uses from edge to edge of the Fibonacci range. You can freely register combinations in the parameter settings. So please adjust them to fit your own style.

However, simply pressing the presets does not place an order yet. It is only a “plan” placed.

The displayed badges can be moved by dragging.Therefore, please drag-adjust the exact TP/SL positions according to market conditions.

The order is executed the moment you press the “BUY/SELL” buttons on the panel.

The actual price at which the order is filled is the position where the badge is placed at that moment.

Even after pressing the buy/sell button, you may not enter

Depending on the preset combination and the direction of the Fibonacci, one of BUY or SELL may not be valid.

For example, if the TP ends up in a more disadvantageous position than the SL, the order cannot be filled in the first place.

Of course that’s only natural. But when you actually try it, you may find yourself unsure more often than you expect.

The badges show which is currently valid: “BUY under consideration” or “SELL under consideration”

This judgment can be checked without hesitation. It is displayed directly on the chart as a badge.

If BUY is valid, it shows “BUY under consideration.” If SELL is valid, it shows “SELL under consideration.” That’s how it’s displayed.

If both BUY and SELL are valid, a ↔ mark will appear on the badge.Click to switch which one you want to consider.

Conversely, if neither is valid, it will display “Not under consideration.” In this case, review the presets. Or you may need to change how you draw the Fibonacci.

Right after redrawing the Fibonacci, or right after switching presets. This judgment runs automatically. So you can check the current consideration state just by looking at the badge.

Why this tool was created

Before using this tool, the task of manually re-entering the trade plan each time was tedious for me. Because constantly correcting it was bothersome, analysis could be neglected, or I wouldn’t catch the timing of buying and selling.

Using this tool, you can preset the TP/SL combinations, and then “one-click TP/SL change & drag for fine-tuning ⇒ one-click order,” which really made things easier for me.

Determining the combinations is still up to you. But the old method of repeatedly re-entering input as the market moves is completely unrelated to market analysis or judgment.

If you use the same setup, it is overwhelmingly efficient to simply call it up. If you feel the same as I did, you may find it conveniently useful.

Actual screen and other feature details are listed on the product page.

→Fibonacci Trade System (Product Page)

List of all FTS features

From entry to settlement, here are the features supported by FTS.

Next time

In Part 3, I will write about fine-tuning by moving the TP/SL lines.

Placing a plan with presets does not necessarily mean it’s the best. It’s about adjusting to the actual rebound pattern. I will write about how to adjust from there next time.