CREDITS to @HPotter for the orginal code.
CREDITS to @Yo_adriiiiaan for recently publishing the UT Bot study based on the original code -
I just added some simple code to turn it into a strategy. Now, anyone can simply add the strategy to their chart to see the backtesting results!
While @Yo_adriiiiaan mentions it works best on a 4-hour timeframe or above, I...
Length Numeric 5 Number of bars used to determine the average true range.
NumATRs Numeric .75 Factor used to calculate a percentage of the average true range, used to
Long and short entry based on a percentage of price movement beyond the average range.
Profitable and simple strategy..
Based on my VWAP + Fibo deviations indicator, I tested some strategies to see if the indicator can be profitable; and I got it !
This strategy uses:
+1.618 / +2.618 / -1.618 / -2.618 Deviations Extensions to create 2 bands
The value of the deviation
First, the 2 bands are plotted : +1.618/+2.618 painted in red and -1.618/-2.618...
This script based on KivancOzbilgic 's PMax indicator. I modified a bit. Added Filters, Exit (TP) Levels and few indicator in it. This script opening only Long Positions.
I have used this indicators in this strategy:
-Moving Stop Loss (Most) by ceyhun
-PMax Explorer STRATEGY & SCREENER
-Bollinger Bands on Macd
-Tillson T3 Moving Average by KIVANÇ fr3762
First of all, the idea of apply RSI to VWAP was inspired by XaviZ; at least, that where I first saw that.
I simply applied the idea and searched for apply this on lower timeframe (M15) to increase the number of positions and improve the profit factor.
The conditions to enter are the same :
long : enter on RSI crossover oversold level
short : enter on RSI...
Here we go again.... with the second strategy snippet.
Reminder: the first snipper was a Trailing Profit strategy script
What's on the menu?
A trailing stop is designed to protect gains by enabling a trade to remain open and continue to profit as long as the price is moving in the investor's favor.
The order closes the trade if the price...