Now you’re ready to customize your PowerFib Strategy. We’ll walk you through the settings and you’ll see just how much power is at your fingertips.

Right-Click on the chart window and select ‘Strategies’. The strategies window below will open on your chart and you’ll find the PowerFibStrategies folder. Double-Click to open, double-click on ‘PowerFib’ and it will load in the Configuration Window and all the user-defined variables will be listed on the right-hand side.

01. Entry Direction

Simple enough. Long or Short. Both boxes are left unchecked by default, so that you must choose your desired direction.

2. Fibonacci Levels

Entry Level:

Choose any level on the chart. Maybe you have a favorite, often-hit level, maybe you use different levels with different patterns. You have full flexibility.

Target Level 1:

Your primary target. Choose any level on the chart, however close or far away you want. Scalp, swing, level to level, however you want to play it. It’s your system.

Enable Target Level 2:

If you want a secondary target level, tick this box to enable it. Like to leave a runner on after your primary target is hit? This is where you do it.

Target Level 2:

Your secondary target. Choose well young Jedi, the world is yours.

3. Position Size

Number of Contracts:

Total number of contracts you are going to trade. Default set to 3.

Target 1 Ratio (%):

The percentage of your total number of contracts that are assigned to Target Level 1, your primary target. Default set to 100%. The balance is assigned to your secondary target, Target Level 2. You can choose from 25%, 33%, 50%, 67%, 75% or 100% (default setting). If you like to leave 1/3 on as a runner for your secondary target, you’d choose 67% as your Target 1 Ratio; if you want to take 1/3 off at your first target level and leave 2/3 on for the second target level, you’d choose 33%. We use a rounding calculation so whatever your Total Number of Contracts, it will spilt correctly between the two target levels if enabled.

4. Trailing Stop

Number of Fib Levels to Trail:

Choose the number of PowerFib levels to trail behind price. 1 level behind can be kind of tight; 2 can be just about right. 3 or more is a swing-type position. It’s entirely up to you and your trading style.

Enable Tighten Stop Near Target:

When you want to tighten up as you get close to target and want to lock in max profits. This will vary by instrument and you’ll set the Threshold (in ticks) when the Tighten Stop function will take over from the Trailing Stop function. This works independently for each target level and won’t interfere with the other position.

Tighten Stop Threshold (Ticks):

This is the level behind the Target Level where the Tighten Stop function kicks in. In /CL (oil) for instance, 1 tick = .01 cent. So if your target level is 75.50 and the Tighten Stop Threshold is set to 10, once price hits 75.4 the Tighten Stop function kicks in and trails by however many ticks you set as Tighten Stop Offset in the next section.

5. Offsets

Tighten Stop Offset:

How many ticks your stop will move behind current price. Once your Tighten Stop Threshold level is hit, your stop will move to whatever tick value you’ve chosen here.

Stop Loss Offset:

How many ticks your stops will be above or below the fib level that is the current stop level. If you’ve entered at the 61.8 level and have chosen “2” in the Number of Fib Levels to Trail, your initial stop will begin at the 38.2 level (2 levels behind). 0 will keep the stop at the exact price of each fib level as it trails, 2 ticks would keep it to ticks behind fib level. A negative value would have your stops set above the fib level.

Target Offset:

How many ticks above or below the target fib level where the exit order will be placed.

6. Entry Mode

Delta Entry:

If you have a NinjaTrader Lifetime license and take advantage of Order Flow +, this will enter a position when:

A.) Price closes above/below your Entry Level (Candle Closes)

B) Cumulative Delta Close is greater than the previous bar (long position) or Cumulative Delta Close is less than the previous bar (short position). We’re looking for momentum in the desired direction.

EMA Entry:

For those using the free version of NinjaTrader, use the EMA crossover “isRising” (long position) or “isFalling” (short position) condition to capture the same momentum in the direction of entry.

Single Trade Mode:

When enabled, this will only allow ONE entry and the Strategy will disable itself once that position is closed, when either target or stop orders are hit, or if manually closed. This prevents future entries if the entry level is hit and the conditions are met.

Enable Strategy

This must be checked and enabled for the strategy to run. Tick the box to enable and hit OK.

Exit on Session Close

This is enabled by default and will close any strategy positions at the Close of Regular Trading Hours (5PM CST), minus however many seconds are entered below. Default is 300 seconds (5 minutes). Some Brokers and Prop Trading outfits require positions closed a certain amount of minutes before Session Close. Know what your broker or prop firm requires.

You’ll know the strategy is enabled and ready to rock when the status light is green. Good to go. If the light ever shows yellow, simply right-click your chart and choose “Reload NinjaScript”. Occasionally NinjaTrader will encounter corrupted historical data in Market Replay or Live Data.