This is a Fibonacci-based system that I have traded for the last year, with very reasonable success
Its main logic is Fibonacci Retracement to 38.2% of the size of the Trend. I use one indicator for confirmation (and sometimes use Support and Resistance, though I imagine this is harder to code).
How To Trade It
1. Identify a strong trend. Price needs to trend, creating a steep slope and a sharp move.
2. Use the Fibonacci Tool to mark 38.2% of the trend.
3. Wait for price to retrace to this level, and bounce from it. Bounce is defined when price creates one candle in the opposite direction of its last one.
4. Confirmation: For confirmation I use a 20-Period Moving Average, and I demand that each retracement must occur to also to the MA, so we have two retracements happening at the same spot. This greatly improves trades' quality.
Examples for Trades
I post examples for trades and articles about Confirmation to this Fibonacci Method in my Fibonacci site. I also post various articles about using Fibonacci in trading.
You are welcome to ask any questions regarding this system. I would like to make it an EA very much, results will be astounding ! Thanks.