Pullback_Power [JackTz]Welcome to Pullback_Power
Pullback_Power is a scalping strategy designed to capitalize on market retracements while incorporating unique dynamic features to enhance profitability.
Calculation
Pullback_Power purely uses moving averages to calculate both entry and exits. Exits can also be set to fixed percentages for both take profit and stop loss.
How the Strategy Works
Statistics show that markets normally do a recovery after each drop. Crypto markets can easily drop up to 20% within a few hours and then do a complete or partial recovery. Pullback_Power utilizes this known pattern alongside pyramiding. The strategy aims to catch one or more entries when the price drops, hoping to make profits when the market recovers from the drop. The fixed take profit and stop loss can be used to define your risk management, while the dynamic exit opportunity is riskier but provides the ability to stay in the trade longer while it recovers. Pullback_Power can make up to four entries. This means it utilizes pyramiding to spread out the entry points, but every exit is a full exit. It is not possible to partially exit.
Utility
Pullback_Power is a scalping strategy suitable for traders who operate with small trades and don't want to stay in the market for too long. Pullback_Power offers precise signals with no repainting. The strategy thrives in volatility, so crypto pairs might yield the best results, although this strategy can be adapted to work on all pairs and markets.
How to Automate It
Pullback_Power utilizes the standard placeholders of strategies on TradingView. This enables the trader to add every data point into a webhook, making it fully flexible to suit every trader's needs. To automate, create an alert, set the webhook URL, and add the JSON body needed for the webhook. An example of a simple JSON webhook with some of the standard strategy placeholders:
{
"side": "{{strategy.order.action}}",
"symbol": "{{ticker}}",
"amount": "{{strategy.order.contracts}}"
}
Read about all the standard placeholders that you can use here: TradingView - Standard strategy placeholders
Originality
Pullback_Power is unique in its ability to create precise signals without repainting while maintaining a solid approach to the pullback strategy. Its simplicity not only makes the strategy easy to use and understand but also highly effective. The simplicity reduces inputs, eliminating overfitting and limits each input to avoid incorrect usage. Many times, default settings are enough to achieve good backtesting results on almost all pairs available. Pullback_Power also differs from many other strategies by its solid code, which enhances performance and provides more reliable backtesting. The clean code increases the resilience and precision of the entries, making it less prone to errors.
Many pullback/scalping strategies normally only works on specific scopes of timeframes or pairs. Pullback_Power can easily be adapted to work on almost every scenario. The biggest change needed is the length of the moving average. The lower the timeframe, the higher a length is needed for proper results. I.e. on a 2H timeframe a length of 3 can yield good results. On a 5min timeframe the length might need to be as high as 70.
How to Use
To use Pullback_Power, add the script to your trading chart. By default, Pullback_Power opens four orders to optimize trade opportunities with a default fee value set at 0.1%. You can change these default settings in the Settings window under the Properties tab. To tailor Pullback_Power to your individual trading style, navigate to the Settings under the Input tab. Here you can configure various inputs to fit your trading style.
- Backtest settings , Start Date:
Defines the date of when the calculation starts. Use this to set the date of when the first trade could potentially emit.
- Backtest settings , End Date:
Defines the date of when the calculation ends. If there are any open trades after this date the close calculations are still live. It only makes sure that new orders cannot be opened after this date.
- Backtest settings , Only trade on weekdays:
This is a toggle you can enable or disable. If enabled it only allows new entries to happen during the normal week days, meaning Monday, Tuesday, Wednesday, Thursday and Friday.
Disable this to enable the script to open trades on all 7 days of the week.
- Open settings , Use dynamic long positions:
This toggle allows you to enable or disable the pullback level calculations after first trade.
If enabled, the calculations of level 2, 3 and 4 continues to happen after each bar, making the levels follow the price with the moving averages calculations.
If disabled, the calculations of the levels stop after the first trade. This means that the levels calculation at the point of the first trade stay fixed until all trades are closed.
You can see the difference of the green lines on the chart when you toggle this flag.
- Open settings , Data type:
This is the bar data used for the moving average calculation when opening trades. The possible data types are Open, High, Low, Close, HL2, HLC3, OHLC4, OC2 and HC2.
- Open settings , Source type:
This is the source used to calculate the moving average. The types available are: SMA, PCMA, EMA, WMA, DEMA, ZLEMA and HMA.
- Open settings , Length:
This is the length used for the moving average calculations. 3 means it takes the last 3 bars of historical data for the calculation.
- Open settings , Offset:
This defines if the calculation should use an offset for the historical data. This does not use a look-forward feature, but a look-backward feature. To prevent any possible repaints the offset can only be positive, not negative.
For instance, if the length is 3 and the offset is 0 the calculation is made from the last 3 bars, making it bar1, bar2 and bar3. If the length is 3 and the offset is 1 the calculation is made from bar2, bar3, and bar4 – offsetting the calculation by 1 bar.
- Leverage settings , Leverage liquidation (1-125):
The script itself does not handle any custom leverage calculation – this must be done in the Properties tabs and increasing the order size.
This setting is made to test a possible liquidation event if using leverage.
By setting this to higher than 1, a red line is visible after the first trade on the chart. This indicates the liquidation price.
If this setting is set to 25, the script will calculate the liquidation price from a x25 leverage. If this price is hit, the scripts stops emitting any orders and the background turns red.
You can use this to test if your settings could handle a certain level of leverage.
- Pullback settings , Pullback 1, 2, 3 and 4:
Each of these settings defines the entry price of each pullback level. If Pullback 1 is set to -6 it means that the moving average calculation should be 6% lower than the actual price.
The same logic applies to Pullback 2, 3 and 4.
Setting any level to 0 will disable the level – eliminating any orders to emit on that level.
This can be used to change the level of pyramiding down from 4 if needed.
If you do this, remember to also change the order size and the pyramiding value in the Properties tab accordingly.
- Close settings , Use dynamic TP and SL:
If enabled, script will exit all orders using the same but separate algorithm for moving averages. This enables the user to define if you want the orders to be closed if the price level of this moving average is hit. The price level for this calculation is visible on the chart by the blue line.
Although you can change the length and offset, as described underneath, this calculation uses the same data and source type defined in the Open settings area.
- Close settings , Length, Close:
This is the length used for the closing moving average calculations. 3 means it takes the last 3 bars of historical data for the calculation.
- Close settings , Offset, Close:
This defines if the calculation for the closing moving average should use an offset for the historical data. Just as the offset used for opening order, this does not use a look-forward feature, but a look-backward feature. To prevent any possible repaints the offset can only be positive, not negative.
For instance, if the length is 3 and the offset is 0 the calculation is made from the last 3 bars, making it bar1, bar2 and bar3. If the length is 3 and the offset is 1 the calculation is made from bar2, bar3, and bar4 – offsetting the calculation by 1 bar.
- Close settings , Use TakeProfit:
This toggle enables/disables a fixed take profit percentage.
- Close settings , TP %:
This sets the wanted % to reach on a take profit. This setting is ignored if the toggle above is disabled.
- Close settings , Use StopLoss:
This toggle enables/disables a fixed stop loss percentage.
- Close settings , SL %:
This sets the wanted % to reach on a stop loss. This setting is ignored if the toggle above is disabled.
Exit on Same Bar as Entry
By default, the script doesn't emit any exit orders on the same bar as the first entry order. Enable "Recalculation: After order is filled" to change this behavior.
Troubleshooting
While Pullback_Power is designed to provide reliable trading signals, you may encounter rare issues. One such issue could be receiving an error message stating "can't open orders with 0 or negative qty." If you encounter this error, it is likely due to specific conditions on the selected timeframe. To resolve this issue, change the timeframe on your trading chart.
Underlying Principles and Value Proposition
Pullback_Power leverages moving averages and volatility behavior to identify market retracements and capitalize on them. The strategy is rooted in the understanding that markets often experience temporary reversals or "pullbacks" before resuming their primary trend. By identifying these pullbacks and entering trades at opportune moments, Pullback_Power aims to capture quick profits from short-term market movements.
The dynamic and fixed calculations of Take Profit (TP) and Stop Loss (SL) levels enhances risk management, ensuring that potential losses are controlled while allowing room for profits to grow. The adaptive approach using the moving averages considers current market conditions, making the strategy flexible and responsive to changing volatility.
Moreover, Pullback_Power's non-repainting nature ensures the reliability of its signals, eliminating hindsight bias and providing traders with actionable insights based on real-time market data.
The strategy's simplicity and effectiveness make it accessible for traders of all experience levels. Whether you're a beginner looking to start scalping or an experienced trader seeking to diversify your trading approach, Pullback_Power offers a balanced blend of simplicity and sophistication to help you navigate the markets with confidence.
By focusing on clear, transparent principles and offering practical tools for risk management, Pullback_Power aims to provide tangible value to traders, empowering them to make informed decisions and optimize their trading outcomes.
Thank you for choosing Pullback_Power. I wish you successful trading!
Komut dosyalarını "take profit" için ara
Strategy - Plus / Connectable [Azullian]Discover the advanced capabilities of Strategy Plus, an essential component of the connectable indicator system designed for fast-paced strategy testing, visualization, and building within TradingView. This enhanced version of our foundational connectable strategy indicator seamlessly integrates with all connectable indicators . By utilizing the TradingView input source as a signal connector , it facilitates the linking of indicators to form a cohesive strategy. Each connectable indicator within the system sends signal weight to the next node, culminating in a comprehensive strategy that incorporates advanced customization options, sophisticated signal interpretation, and elaborate backtest labeling. Strategy Plus stands out by offering improved position management and extensive alert messaging capabilities, ensuring effective strategy refinement and backend integration.
█ DISTINCTIVE FEATURES
The Connectable Strategy Plus enhances risk mitigation within the connectable system through its advanced features and capabilities:
• Refined Signal Input Management: Tailor and precisely connect up to two signal filters with enhanced input flexibility, gain control, and strategic direction settings.
• Strategic Position Investment Control: Optimize positioning with versatile investment bases, custom investment percentages, and direction-specific investments for effective risk management.
• Advanced Exit Stop Loss Configuration: Implement custom stop loss tactics with diverse base modes and trailing options for tailored risk management.
• Strategic Exit Take Profit Settings: Apply precision-driven take profit strategies with various calculation modes and dynamic trailing functionality.
• Calibrated Entry Position Allocation: Optimize investment distribution for entry positions, including DCA and BRO trades, for strategic market response.
• Refined Order Setting Customization: Ensure exchange compliance with adjustable order settings, enhancing backtest accuracy and strategy reliability.
• Comprehensive Condition Settings: Define precise conditions for strategy execution, including date range filtering and order/loss limitations.
• Intuitive Visualization: Enhance strategy clarity with customizable visual elements and trade visualization features.
• Advanced Alert Configurations: Stay informed with comprehensive and customizable alerts for effective backend integration.
• Backend Integration With JSON Format: Leverage elaborate and structured data in JSON format for advanced analytics, enhancing decision-making and strategy optimization outside TradingView.
Let's review the separate parts of this indicator.
█ STRATEGY INPUTS
We've provided 2 inputs for connecting a signal filter or indicators or chains (1→, 2→) which are all set to 'Close' by default.
An input has several controls:
• Enable disable: Toggle the entire input on or off
• Input: Connect indicators or signal filter here, choose indicators with a compatible : Signal connector.
• G - Gain: Increase or reduce the strength of the incoming signal by a factor.
• SM - Signal Mode: Choose a trading direction compatible with the settings in your signal filter
• XM - Exit Mode: Determine when to allow to exit your open trade
○ Always: Doesn't take the restrictions into account, this ignores all the settings chosen in ML or MP
○ Restricted: Use both ML and MP conditions
○ Loss: Use the ML condition only, for example: Position will be exited and the exit signal will be allowed only when the loss exceeds the ML parameter
○ Profit: Use the MP condition only for example: Exits will only be allowed when the profit of the position exceeds the condition of the MP parameter
█ POSITION INVESTMENT
Determine the percentage of your trading budget you would like to use in each position based on the strategy's profit or loss.
• LINVB - Loss Investment Base: Choose which base to use to determine the investment percentage when the strategy is in a loss.
○ Equity: Use the equity as the base for percentage calculation.
○ Initial capital: Use the initial capital as the base for percentage calculation.
• LINV% - Loss Investment Percentage: Set a percentage of the chosen investment base as the investment for a new position.
○ For example, when 10% in loss, and a initial capital of $100, and the investment base is set to equity with a percentage of 50%, your investment will be 50% of $90, $45.
• PINVB - Profit Investment Base: Choose which base to use to determine the investment percentage when the strategy is in profit.
○ Equity: Use the equity as the base for percentage calculation.
○ Initial capital: Use the initial capital as the base for percentage calculation.
• PINV% - Profit Investment Percentage: Set a percentage of the chosen investment base as the investment for a new position.
○ For example, when 10% in profit, and an initial capital of $100, and the investment base is set to equity with a percentage of 100%, your investment will be 100% of $110, $110.
• XINVB - Custom Profit Investment Base: Choose which base to use to determine the investment percentage when the strategy is above a custom profit threshold (XT).
○ Equity: Use the equity as the base for percentage calculation.
○ Initial capital: Use the initial capital as the base for percentage calculation.
• XINV% - Custom Profit Investment Percentage: Set a percentage of the chosen investment base as the investment for a new position.
○ For example, when 100% in profit, exceeding the XT threshold of 50%, and an initial capital of $100, and the investment base is set to equity with a percentage of 50%, your investment will be 50% of $200, $100.
• XT% - Custom Profit Threshold: Determine how much profit triggers these custom profit investment settings.
• ELIB% - Entry Long Investment Base: Following previous settings, you can further restrict the investment according to the long trading direction.
○ For instance, if the previous calculation resulted in $45 to be used as an investment, and you've set the ELIB% to 50%, your long position will use 50% of $45, which is $22.5.
• ESIB% - Entry Short Investment Base: Following previous settings, you can further restrict the investment according to the short trading direction.
○ For example, if the previous calculation resulted in $45 to be used as an investment, and you've set the ESIB% to 50%, your short position will use 50% of $45, which is $22.5.
• RISK% - Risk Percentage:
○ Determine how much of the calculated position investment is at risk when the stop-loss is hit.
- For example, 1% of $45 represents a maximum loss of $0.45.
○ Risk percentage works together with the stop loss and the max leverage.
• MXLVG - Maximum Leverage:
○ Investigate the trading rules for your trading pair and use the maximum allowed amount of leverage.
○ To determine the number of contracts to be bought or sold, considering the stop loss and the specified risk percentage, the maximum leverage available will constrain the amount of leverage utilized to ensure that the maximum risk threshold is not exceeded. For instance, suppose the stop loss is set at 1%, and the risk percentage is defined as 10%. Initially, the calculated leverage to be used would be 10. However, if there is a maximum leverage cap set at 5, it would constrain the calculated leverage of 10 to adhere to the maximum limit of 5.
█ EXIT STOP LOSS
Determine the Stop Loss price based on your selected configuration.
As the stop loss is an integral part of the ordered contracts calculation used in conjunction with the Risk and Max leverage, you'll always need to provide a stop loss price.
• SLLB - Stop Loss Long Base: Choose a stop loss mode for calculating stop loss prices in long positions.
○ Risk: Determines the price using the Risk parameter (RISK%) and maximum leverage (MXLVG). In this case, SLLB% will not have any impact.
○ Price Entry + Offset: Calculates the stop loss price based on a offset percentage (SLLB%) from the entry price of the position.
○ Source: Computes the stop loss price based on an external indicator defined in SLLSRC.
- If this results in an invalid price, the calculation will revert to using the price entry + offset.
○ Source + Offset: Determines the stop loss price based on a positive or negative offset percentage (SLLB%) from an external indicator defined in SLLSRC.
- If this results in an invalid price, the calculation will fall back to using the price entry + offset.
• SLLB% - Stop Loss Long Base Percentage: Define an offset percentage that will be applied in the price entry + offset and source + offset stop loss modes.
• SLLSRC - Stop Loss Long Source: Connect an external indicator as the source for stop loss (only those providing price values eg: bollinger bands, moving averages...).
• SLLT - Stop Loss Long Trailing:
○ Fixed: The initial stop loss will be kept and no trailing stop loss will be applied.
○ Trail Stop: Takes into account all settings defined in SLLB and SLLB% and recalculates them with each candle.
- If a better stop loss is computed, it replaces the existing stop loss. In this mode SLLT% will be disregarded.
○ Trail Stop till BE: Similar to trailing stop mode, but it stops trailing when the stop loss reaches the break-even point.
○ Trail Stop from BE: Similar to trailing stop mode, but it starts trailing when the stop loss reaches the break-even point.
○ Trail Price: Computes the trailing stop loss price based on an offset percentage (SLLT%) from the closing price of the current candle.
- If a better stop loss price is calculated, it will be set as the new stop loss price.
○ Trail Price till BE: Similar to the Trail Price mode, but it stops trailing when the stop loss reaches the break-even point.
○ Trail Price from BE: Similar to Trail Price mode, but it starts trailing when the stop loss reaches the break-even point.
○ Trail Incr: Adapts the trailing stop loss price based on the offset percentage (SLLT%).
- Each price change in favor of your position will incrementally adapt the trailing stop loss with SLLT%.
○ Trail Incr till BE: Similar to the Trail Incr mode, but it stops trailing when the stop loss reaches the break-even point.
• SLLT% - Stop Loss Long Trailing Percentage: This percentage serves as an offset or increment depending on your chosen trailing mode.
• SLSB - Stop Loss Short Base: Functions similarly to SLLB but for short positions.
• SLSB% - Stop Loss Short Base Percentage: Functions similarly to SLLB% but for short positions.
• SLSSRC - Stop Loss Short Source: Functions similarly to SLLSRC but for short positions.
• SLST - Stop Loss Short Trailing: Functions similarly to SLLT but for short positions.
• SLST% - Stop Loss Short Trailing Percentage: Functions similarly to SLLT% but for short positions.
█ EXIT TAKE PROFIT
Determine the Take Profit price based on your selected configuration.
• TPLB - Take Profit Long Base: Choose a take profit mode for calculating take profit prices in long positions.
○ Reward: Determines the take profit price using the Risk parameter (RISK%) and the calculated Stop Loss price and the set reward percentage (TPLB%).
- For example: Risk 1%, Calculated Stop loss price: $90, Entry price: $100, Reward (TPLB%): 2%, will result in a take profit price on $120.
○ Price Entry + Offset: Calculates the take profit price based on a offset percentage (TPLB%) from the entry price of the position.
- For example: Entry price: $100, Offset (TPLB%): 2%, will result in a take profit price on $102.
○ Source: Computes the take profit price based on an external input from another indicator defined in TPLSRC.
- If this results in an invalid price, the calculation will revert to using the price entry + offset.
○ Source + Offset: Determines the take profit price based on a positive or negative offset percentage (TPLB%) from an external indicator inpuy defined in TPLSRC.
- If this results in an invalid price, the calculation will fall back to using the price entry + offset.
• TPLB% - Take Profit Long Base Percentage: Define an offset percentage that will be applied in the price entry + offset and source + offset take profit modes.
• TPLSRC - Take Profit Long Source: Choose to connect an external indicator as the source for take profit (of course only those which provide price values eg: bollinger bands, moving averages... but not oscillators).
• TPLT - Take Profit Long Trailing:
○ Fixed: The initial take profit will be kept and no trailing take profit will be applied.
○ Trail Profit: Takes into account all settings defined in TPLB and TPLB% and recalculates them with each candle.
- If an applicable take profit is computed, it replaces the existing take profit. In this mode TPLT% will be disregarded.
○ Trail Profit till BE: Similar to trailing profit mode, but it stops trailing when the take profit reaches the break-even point.
○ Trail Profit from BE: Similar to trailing profit mode, but it starts trailing when the take profit reaches the break-even point.
○ Trail Price: Computes the trailing take profit price based on an offset percentage (TPLT%) from the closing price of the current candle.
- If an applicable take profit price is calculated, it will be set as the new take profit price.
○ Trail Price till BE: Similar to the Trail Price mode, but it stops trailing when the take profit reaches the break-even point.
○ Trail Price from BE: Similar to Trail Price mode, but it starts trailing when the take profit reaches the break-even point.
○ Trail Incr: Adapts the trailing take profit price based on the offset percentage (TPLT%). Each price change against your position will incrementally adapt the trailing take profit with TPLT%.
○ Trail Incr till BE: Similar to the Trail Incr mode, but it stops trailing when the take profit reaches the break-even point.
• TPLT% - Take Profit Long Trailing Percentage: This percentage serves as an offset or increment depending on your chosen trailing mode.
• TPSB - Take Profit Short Base: Functions similarly to TPLB but for short positions.
• TPSB% - Take Profit Short Base Percentage: Functions similarly to TPLB% but for short positions.
• TPSSRC - Take Profit Short Source: Functions similarly to TPLSRC but for short positions.
• TPST - Take Profit Short Trailing: Functions similarly to TPLT but for short positions.
• TPST% - Take Profit Short Trailing Percentage: Functions similarly to TPLT% but for short positions.
█ ENTRY INVESTMENT DISTRIBUTION
Based on your position investment calculation you can distribute the position investment accross the initial opening trade of the position (SIG%) or the follow up Dollar Cost Averaging (DCA%) or Break Out (BRO%) trades.
For example: SIG%: 10%, DCA%: 45%, BRO%: 45% and the calculated Position Investment is $100, then the initial trade will receive $10, DCA will receive $45, and BRO will receive $45 to work with. Disable BRO and or DCA by setting them to 0%. Keep in mind that the sum of SIG, BRO and DCA may not exceed 100%.
• SIG% - Initial order investment percentage based on the signal: The percentage of the position investment distributed over normal trades.
• DCA% - Dollar Cost Averaging investment percentage: The percentage of the position investment distributed to DCA trades.
• BRO% - Break Out investment percentage: The percentage of the position investment distributed to BRO trades.
█ ENTRY DCA
DCA (Dollar-Cost Averaging) is a risk mitigation strategy where the allocated DCA% budget from the Entry Investment Distribution is distributed among x levels (DCA#) based on calculated prices (DPLM) and order sizes (DOSM), when prices move against your position.
• DCA# - Maximum DCA levels: Set the maximum number of DCA levels.
• DPLM - DCA Price Level Mode: Choose a price level mode that determines at which prices the additional purchases are distributed:
○ Linear: Entry prices are evenly spaced at regular intervals.
○ QuadIn: Entry prices are front-loaded, with more at the beginning and fewer later.
○ QuadOut: Entry prices are back-loaded, with fewer at the beginning and more later.
○ QuadInOut: Entry prices start front-loaded, then become back-loaded.
○ CubicIn: Similar to QuadIn but with a smoother front-loaded distribution.
○ CubicOut: Similar to QuadOut but with a smoother back-loaded distribution.
○ ExpoIn: Entry prices are exponentially increasing, starting small and growing.
○ ExpoOut: Entry prices are exponentially decreasing, starting large and reducing.
○ ExpoInOut: Entry prices start exponentially increasing, then decrease exponentially.
• DOSM - DCA Order Size Mode: Choose a DCA budget distribution mode for order sizes:
○ Linear: Order sizes are evenly spaced at regular intervals.
○ QuadIn: Order sizes are front-loaded, with larger orders at the beginning and smaller ones later.
○ QuadOut: Order sizes are back-loaded, with smaller orders at the beginning and larger ones later.
○ QuadInOut: Order sizes start front-loaded and transition to back-loaded.
○ CubicIn: Similar to QuadIn but with a smoother front-loaded distribution of order sizes.
○ CubicOut: Similar to QuadOut but with a smoother back-loaded distribution of order sizes.
○ ExpoIn: Order sizes exponentially increase, starting small and growing.
○ ExpoOut: Order sizes exponentially decrease, starting large and reducing.
○ ExpoInOut: Order sizes start exponentially increasing, then decrease exponentially.
For a visual representation of the price or order size distribution modes, refer to online easing curves.
█ ENTRY BRO
BRO (Break Out) is a risk mitigation strategy where the allocated BRO% budget from the Entry Investment Distribution is distributed among x levels (BRO#) based on calculated prices (BPLM) and order sizes (BOSM), when prices move in favor of your position.
• BRO# - Maximum BRO levels: Set the maximum number of BRO levels.
• BPLM - BRO Price Level Mode: Choose a price level mode that determines at which prices the additional purchases are distributed:
○ Distribution easing modes work similar as the DCA easing modes.
• BOSM - BRO Order Size Mode: Choose a BRO budget distribution mode for order sizes:
○ Distribution easing modes work similar as the DCA easing modes.
█ ORDER SETTINGS
Fine-tune accuracy to match your exchange's trading constraints, enhancing backtest precision with these settings, default settings are least restrictive for crypto trading pairs.
• MINP - Mininmum Position Notional Value: Exchange-defined minimum notional value for positions:
○ Calculated based on your exchange's rules and is the minimum total value your position must hold to meet their requirements It is calculated by multiplying Quantity with price and leverage.
○ It helps ensure your trades align with your exchange's standards.
• MAXP - Maximum Position Notional Value: Exchange-defined maximum notional value for positions:
○ Similar to MINP, this value is calculated based on your exchange's rules and represents the maximum total value allowed for your position.
• MINQ - Mininmum Order Quantity: Least permissible order quantity based on exchange rules:
○ This is the smallest quantity of an asset that your exchange allows you to trade in a single order.
• MAXQ - Maximum Order Quantity: Highest permissible order quantity according to exchange rules:
○ Opposite of MINQ, this is the largest quantity of an asset you can trade in a single order as defined by your exchange.
• DECP - Decimals in Order Price: Allowed decimal places in order prices as per exchange specifications:
○ This value specifies the number of decimal places you can use when specifying the price of an order.
• DECQ - Decimals in Order Quantity: Permitted decimal places in order quantities according to exchange specifications:
○ Similar to DECP, this value indicates the number of decimal places you can use when specifying the quantity of an asset in an order.
█ STRATEGY CONDITIONS
Specify when the strategy is permitted to execute trades.
• DATE: Enable the Date Range filter to restrict entries to a specific date range.
○ START: Set a start date and hour to commence trading.
○ END: Set an end date and hour to conclude trading within the defined range.
• IDO - Maximum Intraday Orders: Limit the number of orders the strategy can place within a single trading day. Upon reaching this limit, the strategy temporarily halts further entries for the day.
• DL% - Maximum Intraday Loss%: Set a threshold for the maximum allowable intraday loss as a percentage of equity. When exceeded, the strategy temporarily suspends trading for the day.
• CLD - Maximum Consecutive Loss Days: Define the maximum number of consecutive days the strategy can incur losses. Upon reaching this limit, the strategy halts trading and avoids new entries.
• DD% - Maximum Drawdown: Specify the maximum permissible drawdown as a percentage of equity. If this limit is met, the strategy halts trading and refrains from placing additional entries.
• TP% - Total Profit %: Establish a target for the total profit percentage the strategy aims to achieve. Once this target is attained, the strategy halts trading and refrains from initiating new entries.
• TL% - Total Loss %: Define a limit for the total loss percentage relative to the initial capital. If this limit is exceeded, the strategy discontinues trading and refrains from placing further entries.
■ VISUALS
• LINE: Activate a colored dashed diagonal line to visually connect the entry and exit points of positions.
• SLTP: Enable visualization of stop loss, take profit, and break-even levels.
• PNL: Enable Break-Even and Close Lines along with a colored area in between to visualize profit and loss.
• ☼: Brightness % : Adjust the opacity of the plotted trading visuals.
• P - Profit Color : Choose the color for profit-related elements.
• L - Loss Color: Choose the color for loss-related elements.
• B - Breakeven Color : Select the color for break-even points.
• EL - Long Color: Specify the color for long positions.
• ES - Short Color: Specify the color for short positions.
• TRADE LABELING: For better analysis we've labeled all entries and exits conform with the type of order your strategy has executed, some examples:
○ EL-SIG0-124: Enter Long - Signal 0 - Position 124
○ EL-BRO1-130: Enter Long - BRO1 - Position 130
○ EL-BRO2-130: Enter Long - BRO2 - Position 130
○ ES-DCA1-140: Enter Short - DCA1 - Position 140
○ XS-DCA2-140: Exit Short - DCA2 - Position 140
○ XL-TP-150: Exit Long - Take Profit - Position 150
○ XS-TP-154: Exit Short - Take Profit - Position 154
○ XL-SL-160: Exit Long - Stop Loss - Position 160
○ XS-SL-164: Exit Short - Stop Loss - Position 164
○ XS-CND-165: Exit Short - Strategy Condition - Max intraday loss - Position 165
■ ALERT SETTINGS
For developers and those who wish to integrate TradingView alerts into their backend systems, we offer comprehensive labeling options.
• ALID: A unique identifier you've assigned to your alert.
• NAME: A structured name you've given to this strategy.
• LAYOUT: The layout key of the strategy, allowing direct chart linking from your backend.
• SYMBOL: The symbol on which the strategy operates.
○ ONCE: You can choose to include this information only in the first message to reduce message size and repetition in follow-up messages. (max. 4096 characters)
• TICK: The ticker for the strategy.
• CHART: The chart parameter containing the timeframe.period and timeframe.multiplier.
○ ONCE: You can choose to include this information only in the first message to reduce message size and repetition in follow-up messages. (max. 4096 characters)
• BAR: Includes bar information in the alert message.
• STRATEGY: Adds strategy inputs to the alert message.
○ ONCE: You can choose to include this information only in the first message to reduce message size and repetition in follow-up messages. (max. 4096 characters)
• PERFORMANCE: Incorporates strategy performance data into the alert message.
• SIGNAL: Appends received signal weights (EL, XL, ES, XS) to the alert message.
• ORDERS: Includes order details in the alert message.
• TAGS: Adds up to 6 tags and their corresponding values to the alert message.
○ ONCE: You can choose to include this information only in the first message to reduce message size and repetition in follow-up messages. (max. 4096 characters)
Of course we can't neglect letting you in on how this juicy JSON would look (without the // comments):
{
"id": 20726, // Message Id
"t": "2023-11-01T10:35:00Z", // Message Time
"al": { // Alert
"id": "639bfa9a-5f01-4031-8880-7ec01e972055", // Alert Id
"n": "TEST04", // Name
"l": "ABC123" // Layout
},
"sym": { // Symbol
"typ": "crypto", // Type
"r": "DOGEUSD.PM", // Root
"pre": "KRAKEN", // Prefix
"tc": "DOGEUSD.PM", // Ticker
"bc": "DOGE", // BaseCurrency
"c": "USD", // Currency
"d": "DOGEUSD Multi Collateral Perpetual Futures Contract", // Description
"mtc": 0.000001, // MinTick
"pv": 1, // PointValue
"ct": "PF_DOGEUSD" // CustomTicker
},
"ch": { // Chart
"pd": "1", // Period
"mul": 1 // Multiplier
},
"bar": { // Bar
"id": 20725, // Index
"t": "2023-11-01T10:33:00Z", // Time
"o": 0.066799, // Open
"h": 0.066799, // High
"l": 0.066799, // Low
"c": 0.066799, // Close
"v": 2924 // Vol
},
"strat": { // Strategy
"n": "Strategy - Plus / Connectable ", // Name
"sig": { // Signal
"c1e": true, // Connector1Enabled
"c1s": 500500.500501, // Connector1Source
"c1g": 1, // Connector1Gain
"c2e": false, // Connector2Enabled
"c2s": 0.067043, // Connector2Source
"c2g": 1, // Connector2Gain
"sm": "Swing (EL, ES)", // SignalMode
"xm": "Always", // ExitMode
"mlp": 0.01, // ExitModeMinPercLoss
"mpp": 0.01 // ExitModeMinPercProfit
},
"inv": { // Investment
"lb": "Equity", // LossBase
"lp": 50, // LossPerc
"pb": "Equity", // ProfitBase
"pp": 100, // ProfitPerc
"pcb": "Equity", // ProfitCustomBase
"pcp": 100, // ProfitCustomPerc
"pct": 10000, // ProfitCustomThreshold
"elp": 100, // LongPerc
"esp": 100, // ShortPerc
"rsk": 1, // MaxRisk
"lvg": 10 // MaxLeverage
},
"sl": { // StopLoss
"lb": "Price Entry + Offset", // LongBase
"lp": 0.2, // LongPerc
"lsrc": 0.067043, // LongSource
"lt": "Trail Stop", // LongTrailMode
"ltp": 0.2, // LongTrailPerc
"sb": "Price Entry + Offset", // ShortBase
"sp": 0.2, // ShortPerc
"ssrc": 0.067043, // ShortSource
"st": "Trail Stop", // ShortTrailMode
"stp": 0.2 // ShortTrailPerc
},
"tp": { // TakeProfit
"lb": "Price Entry + Offset", // LongBase
"lp": 1, // LongPerc
"lsrc": 0.067043, // LongSource
"lt": "Fixed", // LongTrailMode
"ltp": 1, // LongTrailPerc
"sb": "Price Entry + Offset", // ShortBase
"sp": 1, // ShortPerc
"ssrc": 0.067043, // ShortSource
"st": "Fixed", // ShortTrailMode
"stp": 1 // ShortTrailPerc
},
"dis": { // Distribution
"sigp": 10, // SignalPerc
"dcap": 0, // DCAPerc
"brop": 90 // BROPerc
},
"dca": { // DCA
"lvl": 3, // Levels
"pl": "linear", // ModePriceLevel
"os": "linear" // ModeOrderSize
},
"bro": { // BRO
"lvl": 3, // Levels
"pl": "expoIn", // ModePriceLevel
"os": "cubicOut" // ModeOrderSize
},
"ord": { // OrderSettings
"pmin": 5, // PNVMin
"pmax": 30000000, // PNVMax
"qmin": 0, // QtyMin
"qmax": 1000000000, // QtyMax
"dp": 6, // DecPrice
"dq": 6 // DecQty
},
"cnd": { // Conditions
"de": true, // DateRangeEnabled
"start": "2023-11-01T10:30:00Z", // StartTime
"end": "2024-12-31T23:30:00Z", // EndTime
"idoe": false, // MaxIntradayOrdersEnabled
"ido": 100, // MaxIntradayOrders
"dle": false, // MaxIntradayLossEnabled
"dl": 10, // MaxIntradayLossPerc
"clde": false, // MaxConsLossDaysEnabled
"cld": false, // MaxConsLossDays
"dde": false, // MaxDrawdownEnabled
"dd": 100, // MaxDrawdownPerc
"mpe": false, // MaxProfitEnabled
"mp": 200, // MaxProfitPerc
"mle": false, // MaxLossEnabled
"ml": -50 // MaxLossPerc
}
},
"perf": { // Performance
"ic": 1000, // InitialCapital
"eq": 1000, // Equity
"np": 0, // NetProfit
"op": 0, // OpenProfit
"ct": 0, // ClosedTrades
"ot": 0, // OpenTrades
"p": "FLAT", // MarketPosition
"ps": 0, // MarketPositionSize
"pp": "FLAT", // PreviousMarketPosition
"pps": 0 // PreviousMarketPositionSize
},
"sig": { // Signal
"el": 0, // EL
"xl": 0, // XL
"es": 6, // ES
"xs": 0 // XS
},
"ord": ,
"tag":
}
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with signals and a signal filter
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, monitor, or strategy .
Let's connect the Strategy - Plus to a connectable signal filter and connectable indicators :
1. Load all relevant indicators
• Load MA - Plus / Connectable
• Load Signal filter - Plus / Connectable
• Load Strategy - Plus / Connectable
2. Signal Filter Plus: Connect the MA - Plus to the Signal Filter
• Open the signal filter settings
• Choose one of the five input dropdowns (1→, 2→, 3→, 4→, 5→) and choose : MA - Plus / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter settings if needed
• The default filter mode for the trading direction is SWING, and is compatible with the default settings in the strategy and indicators.
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold is 'ABOVE' Threshold 1 (TH1) and Threshold 2 (TH2), both set at 5. This allows each occurrence to score, as the default score is 1 point above the threshold.
5. Strategy Plus: Connect one of the strategy plus inputs to the signal filters signal connector in the strategy settings
• Select a strategy input → and select the Signal filter - Plus: Signal connector
6. Strateg Plus: Enable filter compatible directions
• As the default setting of the filter is SWING, we should also set the SM (Strategy mode) to SWING.
7. Strateg Plus: You're ready to start optimizing
• Dive into all parameters and start optimizing your backtesting results.
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
• Layout and Abbreviations: Abbreviations streamline structure and input identification. Although they may seem complex initially, inline tooltips provide explanations, facilitating quick acclimatization.
• Total Trade Limit Error & Date-Time Filter: For deep backtesting, be mindful of the total trade limit. Utilize the date-time filter to narrow the test scope and avoid TradingView order limits.
• Calculation Timeout: Encounter a timeout? Adjust any parameter slightly to restart the calculation process.
• Message Character Limit: To stay within message character limits, consider turning off certain features or setting some to 'once'.
• Direct Indicator-to-Strategy Connection: When connecting an indicator directly to a strategy without thresholds, the strategy will default to long if weights are equally assigned.
• Pyramid Enabling with DCA and BRO: Activate pyramid orders, enabling you to optimize your strategy during Dollar Cost Averaging and Break Out trades.
• Recalculate & Fill Orders Properties: Adjusting these default settings in strategy properties tab may lead to unexpected behavior when backtesting. Approach with caution.
• Optimized for Crypto: Our indicators have been optimized and tested primarily on cryptocurrency markets. Results in other markets may vary.
• Inline Tooltips Documentation: Detailed documentation and guidance are available via inline tooltips for immediate assistance.
• Strategy Settings Margin: Set margin to 1 to be able to apply leverage.
• Styling Panel: Explore the styling panel to disable labels or any other visual cues to reduce clutter on busy charts, enhancing visual clarity and personalization.
• Applying Leverage on Spot Markets: Ensure that maximum leverage on spot markets is configured to 1.
• Unrealistic Order Sizes: Verify that the order book can accommodate your backtested order sizes.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
INFINITY ALGO🆕Meet the updated version of our flagship indicator, now it's INFINITY ALGO!
🏃🏻 QUICK START
In very simple terms, our indicator generates complex trading signals on your chart (buy/sell), including Entry Point, Take Profit levels, Stop Loss level
To start, you need to add our indicator to your chart , choose a timeframe (we recommend 13min,15min and 4h but you can try any, these only have the best results) and set up notifications (how to do it told below) and that's it, you can work with it even without changing the settings!
Of course, to improve the accuracy of signals you will have to choose the optimal settings of the script for each trading pair and timeframe (you can find a guide below)
📊 SIGNALS
This script will generate complex trading recommendations, both Long and Short (signals); signals include:
- Entry Point:
Calculated based on pivot levels with confirmation by EMA/SMA (you can select this in the settings); also bullish/bearish cup is checked to confirm the entry.
Additionally, in the settings you can enable Heiken Ashi calculation mode (it shows much better on some trading pairs).
Why do we mashup these components and how they work together?
- The main indicator in our script is pivot levels, it is enabled by default and cannot be disabled. Auxiliary indicators (which you can switch on and off in the script settings) are EMA/SMA and Heiken Ashi. We have used pivot levels, which mark potential support and resistance zones based on previous price action. We have also used EMA/SMA that smooth out price fluctuations and show the direction of the trend. We have added an option to use Heiken Ashi that filters out noise and highlights the trend. We have also checked for bullish/bearish cup patterns, which are reversal patterns that indicate a change in momentum. By combining these indicators, we have created a more robust entry point that considers multiple factors such as price levels, trend, noise, and momentum.
- 6 Take Profit levels:
It is also possible to change in the settings (It is also possible to change the values for Short or Long positions separately), it will be fixed values in % (The default Take Profits for Long&Short are as follows: TP1-0.3%; TP2-1%; TP3-2%; TP4-3%; TP5-7.5%; TP6-16.5%)
- Stop Loss Level:
As with Take Profits, this is a fixed % value that you can customise to suit your risk management needs (It is also possible to change the values for Short or Long positions separately, by default is 4.5% for Long&Short positions)
*When trading on these signals, we strongly recommend that you exit the position in parts at each take profit or close your entire position at one particular take profit. Our script was designed specifically for exiting a position on take profits
⚙️ SETTINGS
Now let's talk about the settings of this script, which allow you to customise the signals quite a lot. In general, we recommend selecting the settings for each trading pair and timeframe separately, this will allow you to achieve better targets accuracy (the default settings are universal, you can trade with them without changing them if you want)
-> IMAGE <-
1. Period - minimum value of 2. Increasing this parameter will increase the accuracy of signals, but will reduce their number (accordingly, lowering the parameter will do the opposite). For the majority of trading pairs and timeframes the optimal period will be between 5 and 10 (the default value is 5).
2. Maximum Breakout length (in bars) - for most trading pairs you can set the value from 200 to 300 and it will be optimal. Below 200 is not recommended
3. T hreshold Rate % - this value also affects the accuracy and the number of signals - the higher this value is, the more often signals will be generated, but it can negatively affect the accuracy. The minimum value is 3, and the maximum value is 10. We recommend to try values in the range from 4 to 7 for most tickers
4. Minimum Number of tests - the number of level checks is required, we recommend to try 2, and only for some timeframes increase to 3
5. MA type & MA filter - The shorter the length of moving averages, the faster they react to trend changes, and show more local trends than global ones. If the length of MAs is longer, more global trends are shown. By default, the most optimal values are set.
By the way, you can ask us for a ready-made preset for any pair and we will be happy to help you!
📄 BACKTESTING
Now let's talk about how to properly test the settings and evaluate their effectiveness. Our script has a c ustom built-in backtester that shows statistics on the current trading pair and allows you to calculate the accuracy of each take profit target, as well as calculate values such as Gross profit/loss, net profit, and the ratio of initial deposit to profit. (you can enable/disable backtester "statistics" label in main settings)
In the main settings you can change the values for: initial deposit (Deposit $), trade size $ and leverage (by the way, it also affects the display of the label "Peak profit", which is calculated with this leverage)
-> IMAGE <-
Now let's look at the backtester - it shows detailed statistics for each Take Profit level, including: accuracy in % and number of trades; gross profit & loss; net profit in % and $ (based on selected settings); deposit to profit ratio in % and $.
Why did we choose such properties in the backtest for publication?
- Well, as the initial capital we took 5000$ and deposit 3% (150$) of the initial capital in each trade. For the fee was taken the value from the exchange Binance, which is 0.06% per trade (Taker + Maker, for a user without VIP on Binance and without taking into account additional fees such as funding, leverage fees, etc).
- Please also take a look at our inbuilt backtester ( IMAGE ) which counts the accuracy to each Take Profit. Also note that our inbuilt backtester does not take any fees into account. Pay attention to the last field "Deposit with Profit" it shows the value if you would close all positions at a certain target. For example, we can see that the most optimal is TP3 at these settings for this trading pair and timeframe, as the deposit to profit ratio will be +61.2%
- Also the script is more designed for swing and long term trading, so on most trading pairs you will be able to see statistics for 60-90 trades dataset
*disclaimer: please note that past results does not guarantee future performance! The accuracy of take profit targets in our backtester is calculated on past results, keep this in mind please
📥 NOTIFICATIONS
We have provided notifications that will deliver the latest signals to you in a convenient format in TradingView. The notification looks like this: It contains the entry point, Take Profits, Stop Loss, and a bit of advice on risk management. -> IMAGE <-
To set up notifications:
1. Select the script settings, trading pair and timeframe
2. Click "add alert on InfinityAlgo", then select "alert () function calls only" in the settings
-> IMAGE <-
3. That's it, now all that's left is to wait for a fresh alert
🔑 HOW TO GET ACCESS
We hope you will like this script :) We are always ready to help you with customisation, just let us know! To learn more about our scripts & get access - check out the “Author’s instructions” below 👇🏼
Self Optimizing PSAR [Starbots]Self Optimizing Parabolic SAR Strategy (non-repainting)
Strategy constantly backtest 169 different combinations of Parabolic SAR indicator for maximum profitability and trades based on the best performing combination at that time.
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# Parabolic SAR (PSAR)
Parabolic SAR is a time and price technical analysis tool created by J. Welles Wilder and it's primarily used to identify points of potential stops and reverses. In fact, the SAR in Parabolic SAR stands for "Stop and Reverse". The indicator's calculations create a parabola which is located below price during a Bullish Trend and above Price during a Bearish Trend.
You can read more about this indicator here:
www.tradingview.com
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The logic of self - optimizing:
This script is always backtesting 169 different combinations of Parabolic SAR settings in the background and saves the net. profit gained for every single one of them, then strategy selects and use the best performing combination of settings currently available for you to trade.
It's recalculating on every bar close - if one of the parameters starts performing better than others - have a higher net profit gain (it's literally like running 169 backtests with different settings) strategy switches to that parameter and continues trading like that until one of the other indicator parameters starts performing better again and switches to that settings.
We are optimizing our strategy based on 13 different 'Increment' factors of PSAR. We keep the 'Start' factor (default 0.02) and 'Max Value' factor (default 0.2) at default for all of them.
According to creator of this indicator J. Welles Wilder, we usually want to change only 'Increment' factors of PSAR in the calculation and leave the rest at default and that's what we do, we are changing only 'Increment' input.
Inputs : (you don't need to change them at all, it's a good balance for fast and slow detection of trends on PSAR)
Start = 0.02
Max value = 0.2
Increment1 = 0.005, Increment2 = 0.01, Increment3 = 0.015
Increment4 = 0.02, Increment5 = 0.025, Increment6 = 0.03
Increment7 = 0.035, Increment8 = 0.04, Increment9 = 0.045
Increment10 = 0.05, Increment11 = 0.055, Increment12 = 0.06
Increment13 = 0.065
PSAR buy / sell conditions looks like this:
PSAR1 = start 0.02, max value 0.2, increment1 0.005
PSAR2 = start 0.02, max value 0.2, increment2 0.01
PSAR3 = start 0.02, max value 0.2, increment3 0.015
PSAR4 = start 0.02, max value 0.2, increment3 0.02
...
PSAR13 = start 0.02, max value 0.2, increment13 0.065
Backtester in the background works like this:
backtest buying PSAR1 settings with selling PSAR1 settings => save net. profit
backtest buy PSAR1 with sell PSAR2 ;
backtest buy PSAR1 with sell PSAR3 ;
backtest buy PSAR1 with sell PSAR4 ;
..........
backtest buy PSAR1 with sell PSAR13 ;
..........
backtest buy PSAR13 with sell PSAR1 ;
backtest buy PSAR13 with sell PSAR2 ;
......
backtest buy PSAR13 with sell PSAR13 ;
=>
It will backtest 16x16=169 different PSAR settings and save their profits.
Your strategy then trades based on the best performing (highest net.profit) PSAR Setting currently available. It will check the calculations and backtest them on every new bar close - it's like running 169 strategies at time, and manually selecting the best performing one.
________________________________________________________________________
If you wish to use it as INDICATOR - turn on 'Recalculate after every tick' in Properties tab to have this script updating constantly and use it as a normal Indicator tool for manual trading.
Strategy example is backtested on Daily chart of SHIBUSDT Binance
All settings at default. (1000 capital, 100 order size, 0.1% fee, 1 tick slippage)
Settings:
-Start = default Parabolic SAR setting is 0.02
-Max Value = default Parabolic SAR setting is 0.2
--Recommended PSAR Increment settings:
0.02 is default, higher timeframes usually performs good on the faster Increment factors 0.03-0.05+, smaller timeframes on slow Increment factors 0.005-0.02. I recommend you the most common and logical 13 different Increment factors for optimizing in the strategy as default already (from 0.005 to 0.065 - strategy will then optimize and trade based on the most profitable combination).
- Noise-Intensity Filter 🐎0.00-0.20%🐢
This will punish the tiny trades made by certain combinations and give more advantage to big average trades. It's basically like fee calculation, it will deduct 0.xx% fee from every trade when optimizing on their backtests.
You will usually want to have it around 0.05-0.10% like your fees on exchange.
-> 🐎Less than <0.10% allows strategy to be VERY SENSITIVE to market. (a lot of trades - quick buy-sell changes)
-> 🐢More than >0.10% will slow down the strategy, it will be LESS SENSITIVE to market volatility. (less trades - slowly switches the trend direction from buy to sell)
Close Trades on Neutral
After a lot of Trades, Algo starts developing self-intelligence. It can also have a neutral score. (Grey Plots). Sell when the strategy is neutral.
Other settings:
-Take Profit, Multiple Take Profit, Trailing Take Profit, Stop Loss, Trailing Stop Loss with functional alerts.
-Backtesting Range - backtest within your desired time window. Example: 'from 01 / 01 /2020 to 01 / 01 /2023'.
- Strategy is trading on the bar close without repaint. You can trade Long-Sell/Short Sell or Long-Short both directions. Alerts available, insert webhook messages in the inputs.
- Turn on Profit Calendar for better overview of how your strategy performs monthly/annualy
- Notes window : add your custom comments in here or save your webhook message text inside here for later use. I find this helpful to save texts inside.
Recommended TF : 4h, 8h, 1d (Trend Indicators are good at detecting directions of the market, but we can have a lot of noise and false movements on charts, you want to avoid that and ride the long term movements)
This script is fairly simple to use. It's self-optimizing and adjusting to the markets on the go.
[Opening Range Breakout] S&R Strategy with Backtest (TSO) S&R Strategy with Backtest (TSO)
===========================================================================
===========================================================================
This indicator serves as a comprehensive full-cycle trading system, providing alerts at each stage of the trade, from opening to closure. The algorithm initiates by calculating the Opening/Pre-Market Price Range, waiting for a breakout to generate signals, and establishing TP (Take Profit and SL (Stop Loss) levels. The Opening/Pre-Market range, known for its robust support and resistance levels, is a key element. To filter out false breakouts and capture valid ones, the indicator incorporates a Smart Breakout feature, requiring confirmation through an initial breakout, a confirmation bounce, and a subsequent confirmation breakout. The indicator offers a variety of automated approaches for TP (Take-Profit) and SL (Stop-Loss) settings. These include leveraging opening range levels, both the most recent and historical S&R (Support and Resistance) levels, and an ATR (Average True Range) trailing stop-loss. This diverse set of tools ensure flexibility in tailoring TP (Take-Profit) and SL (Stop-Loss) parameters to different market conditions, contributing to a more adaptive and robust trading system. Additionally, a series of signal analysis tools, including candle bar analysis, divergence, and volume, enhance the precision of trading signals.
* Works with popular timeframes: 1M, 3M, 5M, 15M, 30M, 45M, 1H.
* Works best with Indices, Stocks, and Commodities, since there is pre-market price movement, which is used to obtain support and resistance price range.
* Every action of the trade is calculated on a confirmed closed candle bar state (barstate.isconfirmed), so the indicator will never repaint.
==============================================================
Indicator visual examples with various instruments:
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Strategy Config: ORB_AAPL(NASDAQ)_15M
Example of Signal Cleanup confirmations via SMA and ATR. Take-Profit is calculated per optimal S&R (resistance) most recent levels.
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Strategy Config: ORB_AMD(NASDAQ)_5M
Example of optimal S&R (resistance) level from previous day for Take-Profit 1 target, which gets hit.
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Strategy Config: ORB_META(NASDAQ)_5M
Example of dynamic SL (Stop-Loss), which reduces the risk by moving to the new support level, which is at the same time is below the current price. Also Signal Cleanup confirmations via SMA, ATR and VWAP
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Strategy Config: ORB_MSFT(NASDAQ)_15M
Example of automated ATR Trail Stop-Loss activation at no optimal S&R (support) feature.
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Strategy Config: ORB_NFLX(NASDAQ)_3M
Example of a skipped LONG trade due to no optimal S&R (support) for Stop-Loss (can be seen per chart that it would be a loss trade). On another side, a SHORT SMA Confirmed trade hits all 3 profit targets.
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Strategy Config: ORB_NVDA(NASDAQ)_15M
Example of no optimal support for SHORT Take-Profit targets, with ATR Trail Stop-Loss.
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Strategy Config: ORB_SPY(AMEX)_15M
Example of several signal confirmations at the same time (SMA, VWAP, EWO) and S&R-TP-Entry-SL SL (Stop-Loss) system, which at trade open sets SL (Stop-Loss) per optimal S&R (since this is a LONG trade - support) and then moves to Entry at first take-profit.
===========================================================================
Trading open/close/TP/SL labels, plots and colors explanations:
---------------------------------------------------------------------------
>>> Opening/Pre-Market range: White dashed lines show opening range/pre-market levels with dotted white line extend along the Trading Schedule (if Trading Schedule is turned off - it will extend until next day).
>>> Smart Breakout: 1) Initial Breakout: "init_Brekout" | 2) Confirmation Bounce: "conf_Bounce" | 3) Confirmation Breakout: "conf_Breakout" (additional lables on chart can be hidden with only Confirmation Breakout shown).
>>> Additional S&R (Support and Resistance) lines: yellow - support, blue - resistance (can be hidden).
>>>>> LONG open: green "house" looking arrow below candle bar.
>>>>> SHORT open: red "house" looking arrow above candle bar.
>>>>> LONG/SHORT take-profit target: green/red circles (multi-profit > TP2/3/4/5 smaller circles).
>>>>> LONG/SHORT stop-loss target: green/red + crosses.
>>>>> LONG/SHORT take-profit hits: green/red diamonds.
>>>>> LONG/SHORT stop-loss hits: green/red X-crosses.
>>>>> LONG/SHORT EOD (End of Day | Intraday style) close (profitable trade): green/red squares.
>>>>> LONG/SHORT EOD (End of Day | Intraday style) close (loss trade): green/red PLUS(+)-crosses.
===========================================================================
STATS TABLE ///////////////////////////////////////////////////////////////
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>>> Trading STATS table on the chart showing current trade direction, Last TP (Take-Profit) Taken, Current Trade PL (profit/loss in price difference from trade open to the very current state).
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CUSTOM TRADING DATE RANGE /////////////////////////////////////////////////
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>>>>> This feature can be used to manually set indicator trading range from and to a specific date and time. NOTE: This is not intended for a very long date range backtesting, utilize TradingView Strategy Tester for that.
* Use TradingView “Strategy Tester” to see Backtesting results
NOTE: If Strategy Tester does not show any results with Date Ranged fully unchecked, there may be an issue where a script opens a trade, but there is not enough TradingView power to set the Take-Profit and Stop-Loss and somehow an open trade gets stuck and never closes, so there are “no trades present”. In such case - manually check “Start”/“End” dates or use “Deep Backtesting” feature!
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INTRADAY/TRADING SCHEDULE | ET (EASTERN TIMEZONE) ////////////////////////
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>>> Trading Schedule - On/Off: This is where an Intraday Session or any custom session can be turned on and then scheduled.
>>>>> Trading Schedule - Time: Trade open Signals/Alerts time zone Hours. | NOTE: US Market Active Hours: 09:30 - 16:00 ET / Power Hour: 15:00 - 16:00 ET)
>>> Trading Schedule - EOD(End of Day) Close - On/Off: Close trade if still open by certain hour (set below).
>>>>> Trading Schedule - EOD(End of Day) Close - Hour (ET): US trading session closes at 4PM ET > 16:00.
Here is when the trade will close with EOD(End of Day) Close/Trading Cut Off Hour set to 16, which is end of US trading session:
1/3/5min > will close at 15:55pm ET
15min > will close at 15:45pm ET
30min > will close at 15:30pm ET
45min > will close at 15:45pm ET
60min > will close at 16:00pm ET
Here is when the trade will close with EOD(End of Day) Close/Trading Cut Off Hour set to 15, which is 1 hour before the end of US trading session (right before power hour starts):
1/3/5min > will close at 14:55pm ET
15min > will close at 14:45pm ET
30min > will close at 14:30pm ET
45min > will close at 14:45pm ET
60min > will close at 15:00pm ET
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TRADE SIGNAL CONFIGURATION ////////////////////////////////////////////////
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>>> Opening Range - Time Period (ET): Opening/Pre-Market Range time, which by default is set to US Session Pre-Market Range, can be customized to any time range as there are different market hours around the world and this setting can be customized to any time. Pre-Market Time/Price Range Hours(ET) | Pre-Market EU/Asia Hours: 4:00-9:30 ET | Pre-Market US (NY) Hours: 7:00-9:30 ET | Post-Market US Hours: 16:00-19:00 ET | First US Market Hour: 9:30-10:30 ET | Power Hour: 15:00-16:00)
>>> Opening Range - Levels Structure: determines how the price range is calculated, based on the highest/lowest price zones or based on the candle body bar.
>>> Opening Range - Breakout System: "Simple": bar close price has to simply break the opening range level | "Smart": After initial breakout (which is basically 'Simple' Breakout), a price come back is expected to the opening range level, a bounce, then a confirmation breakout with price closing ahead of the initial breakout.
>>>>> Opening Range - Smart Breakout: # of bars until Initial Breakout becomes invalid
>>>>> Opening Range - Smart Breakout: Bounce Settings, "Cross-Return" - LONG: Price has to cross down the initial breakout S&R, but never close below it; SHORT: Price has to cross up the initial breakout S&R, but then close above it; ||| "Cross-Close-Return" - LONG: At least 1 candle has to close below initial breakout S&R; SHORT: At least 1 candle has to close above initial breakout S&R.
>>>>> Alerts - Opening Range - Smart Breakout: Confirmation Bounce Alert. Trigger an alert at confirmation bounce. This is for live trading (especially scalping) Smart Breakout approach - to get ready to open the trade in the correct direction.
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TAKE-PROFIT/STOP-LOSS CONFIGURATION ///////////////////////////////////////
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>>> TP (Take-Profit) and SL (Stop-Loss): S&R Search - Left Bars: This setting is for calculating optimal S&R (Support and Resistance) levels (in combination with below - Right Bars) for S&R (Support and Resistance) TP (Take-Profit) levels calculations. NOTE: if at any point - there will be no available S&R (Support & Resistance) found for SL (Stop-Loss, 'S&R-Dynamic-SL' or 'S&R-Static-SL' setting, since both settings search for optimal SL (Stop-Loss) at trade open) or TP (Take-Profit, at any setting, since at trade open, an optimal TP (Take-Profit) level is searched) > SL (Stop-Loss) will automatically switch to trailing ATR-Trailing-SL and the trade will continue to run until it either hits ATR-Trailing-SL (Stop-Loss) or closes at EOD (End of Day).
>>> TP (Take-Profit) and SL (Stop-Loss): S&R Search - Right Bars: This setting is for calculating optimal S&R (Support and Resistance) levels (in combination with above - Left Bars) for S&R (Support and Resistance) TP (Take-Profit) levels calculations. NOTE: if at any point - there will be no available S&R (Support & Resistance) found for SL (Stop-Loss, 'S&R-Dynamic-SL' or 'S&R-Static-SL' setting, since both settings search for optimal SL (Stop-Loss) at trade open) or TP (Take-Profit, at any setting, since at trade open, an optimal TP (Take-Profit) level is searched) > SL (Stop-Loss) will automatically switch to trailing ATR-Trailing-SL and the trade will continue to run until it either hits ATR-Trailing-SL (Stop-Loss) or closes at EOD (End of Day).
>>> TP (Take-Profit) and SL (Stop-Loss): S&R Search - Custom Resolution: This is a custom timeframe setting specifically for S&R Search, it disregards current chart timeframe. This is great to use for scalping, for example: with main chart set to 1min and the custom timeframe set to 3min or 5min - there will be stronger support/resistance levels with more detailed price action.
>>> TP (Take-Profit) and SL (Stop-Loss): # of Bars (5000 max) to search back for optimal Support and Resistance levels: This is how many candles will be searched backwards for previous S&Rs (Support and Resistance) to find the optimal levels for TP (Take-Profit) and SL (Stop-Loss). NOTE: If SL (Stop-Loss) System is set to 'ATR-Trailing-SL' - this setting is only relevant for searching TP (Take-Profit) levels.
>>> TP (Take-Profit) and SL (Stop-Loss): At Trade Open - No S&R (Support and Resistance) found behavior: 'Skip Trade': If at trade open there are no S&R (Support and Resistance) levels for TP1 (Take-Profit 1) or SL (Stop-Loss) - trade is skipped. 'Open/ATR-Trailing-SL': If at trade open there are no S&R (Support and Resistance) levels for TP1 (Take-Profit 1) or SL (Stop-Loss), the trade will still be open with SL (Stop-Loss) set to 'ATR-Trailing-SL'.
>>> TP (Take-Profit) System: Pre-Market-Range-TP: All TP (Take-Profit) targets are calculated at trade open using the distance between Support and Resistance per Opening Pre-market Range and then divided by TP (Take-Profit) Divider, which can be set below; S&R-Current-Optimal-TP1: TP1 (Take-Profit) level is set per currently available S&R (Support & Resistance), if none available - historical S&R (Support & Resistance) levels will be searched, remaining TP (Take-Profit) targets (if selected, up to 5 # of TPs) are searched through most recent closest historical S&R (Support & Resistance) levels; S&R-Historic-Optimal-TP1: TP1 (Take-Profit) level is set per historically most recent closest available S&R (Support & Resistance) to the Entry price, remaining TP (Take-Profit) targets (if selected, up to 5 # of TPs) are searched through historical S&R (Support & Resistance) levels as well.
>>> TP (Take-Profit, Pre-Market-Range-TP) Divider #: This is for 'Pre-Market-Range-TP' setting only, where TP (Take-Profit) level is the distance between top/bottom levels of the opening range. It can be reduced by the divider #. (1 - full distance; 2 - 1/2 distance; 3 - 1/3 distance; etc.
>>> TP (Take-Profit) # of targets: It is wise to divide the trade into several profit targets. With this setting - up to 5 TP (Take-Profit) targets can be approached. The trade will be equally divided up by the selected # of TP (Take-Profit) targets.
>>> TP (Take-Profit) target(s) Consumed: Signal Bar consuming Take-Profits - trade signal bar is big enough to 'consume'/close ahead of the first TP setting > the signal can either be skipped, or all Take-Profit targets pushed ahead by average bar size).
>>> TP (Take-Profit) Offset - On/Off: This is a feature where TP (Take-Profit) target will be considered taken even if the price never crosses the target(s), but comes close enough (based on the offset amount). Set the offset amount below.
>>>>> TP (Take-Profit) Offset - Amount: Some Examples: (for SPY 0.1 would be $0.10 offset - if TP1 is $400 and price hits $399.90 > TP1 considered taken/signal shown/alert) | NOTE: For EURUSD, it is very different and if wrong will show TP1 immediately at trade open, typical good offset for EURUSD is: 0.0005 | Similar for BTCUSD, for example: 10 - $10 offset, if TP is $15,000 > $14,990.
>>> SL (Stop-Loss) System: 'Pre-Market-Range-SL': SL (Stop-Loss) is set to the opposite market range level from trade direction; 'S&R-Static-SL': SL (Stop-Loss) is set at trade open per optimal most recent S&R level and remains there until trade closes; 'S&R-Dynamic-SL': SL (Stop-Loss) is set at a trade open per optimal S&R (Support and Resistance) level from the most recent AND historical S&Rs (Support and Resistance), with every bar closed it will check if there are new S&Rs (Support and Resistance) levels, if these levels appear closer to the current price then current level - it will move SL (Stop-Loss) to that level, therefore reducing the risk; 'ATR-Trailing-SL': SL (Stop-Loss) is trail-following the ATR (Average True Range) line, NOTE: If at signal trigger, ATR will be against the trade direction - trade open signal will be skipped; 'S&R-TP-Entry-SL': SL (Stop-Loss) initially is set per S&R, then moves to Entry price at the very first TP (Take-Profit) hit and remains there until trade closes; 'S&R-TP-Trail-SL': SL (Stop-Loss) initially is set per S&R, then moves to Entry at TP1 (Take-Profit 1) hit, then keeps trailing per previously taken profit targets (TP2 taken, SL moves to TP1 | TP3 taken, SL moves to TP2 | TP4 taken, SL moves to TP3). NOTE: 'ATR-Trailing-SL' will not switch automatically if 'S&R-Dynamic-SL', S&R-TP-Entry-SL', 'S&R-TP-Trail-SL' system is selected, as already the most optimal SL (Stop-Loss) level is calculated - it will switch automatically only with 'S&R-Static-SL' system.
>>> SL (Stop-Loss) - On/Off: Without SL (Stop-Loss), unless EOD (End of Day) Close is turned on - there will be no SL (Stop-Loss) at all!
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SIGNAL ANALYSIS AND CLEANUP ///////////////////////////////////////////////
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>>> Signal Cleanup - Bar Color: Include Bar Color (bullish/bearish) confirmation, LONG signal will only be opened if signal bar is green/bullish, SHORT if red/bearish.
>>> Signal Cleanup - Bar Directional Structure: Skip opposite bar structure types signals (For example: bearish green hammer).
>>> Signal Cleanup - Bar Doji Skip: Skip doji (indecisive) candles signals.
>>> Signal Cleanup - EWO (Elliott Wave Oscillator): Include EWO (Elliott Wave Oscillator), LONG will only be opened if EWO is bullish / SHORT if EWO is bearish.
>>> Signal Cleanup - VWAP (Volume-Weighted Average Price): Include VWAP (Volume-Weighted Average Price), LONG will only be opened if price is above VWAP / SHORT if price is below VWAP.
>>> Signal Cleanup - MA (Moving Average) Confirmation: Include MA (Moving Average), LONG will only be opened if MA is bullish / SHORT if MA is bearish.
>>> Signal Cleanup - ATR (Average True Range): Include ATR (Average True Range) confirmation, LONG will only be opened if ATR is bullish / SHORT if ATR is bearish.
>>> Signal Cleanup - Divergence(RSI + MACD): Include Divergence (RSI + MACD ) confirmation, LONG will only be opened if Divergence is bullish / SHORT if Divergence is bearish.
>>> Signal Cleanup - Volume % Strength: Include Volume strength/percentage confirmation, LONG/SHORT will only be opened with strong Volume matching the signal direction | By default, strong Volume percentage is set to 150% and weak to 50%.
>>> Signal Cleanup - Volume Above Average: Include Volume Above Moving Average (Volume closing bar closes above volume moving average) confirmation, LONG/SHORT will only be opened with Volume above average - Volume closed bar color must match the closed price color (bullish/bearish direction) + Volume bar must be closed above volume MA line).
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TP System - VERY IMPORTANT INFO!
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"TP PERCENTAGE" - amount by which current trade/position needs to be reduced/partially closed/sold.
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TP System: Dynamic
"TP PERCENTAGE" - will always be the same amount (trade/position size divided by the # of take-profit(TP) targets) and percentage to be closed will always be of the ORIGINAL trade/position.
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TP System: Static
"TP PERCENTAGE" - will always be the same amount IF take-profit(TP) targets are hit 1-by-1 (TP1 > TP2 > TP3 > TP4 > TP5), otherwise it will vary and unless it is a 1st take-profit(TP1), the REMAINING trade/position size will always be smaller than original and therefore the percentage to be closed will always be of the REMAINING trade/position and NOT the original one!
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"TP PERCENTAGE" CheatSheet (these are the only percentages you may see)
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TP PERCENTAGE---Close/Sell Amount-------------Example (trade size: 50 stocks)
20%-------------trade size * 0.2--------------50 * 0.2 = 10 stocks
25%-------------trade size * 0.25-------------50 * 0.25 = 12.5(~13) stocks
34%-------------trade size * 0.34-------------50 * 0.34 = 17 stocks
40%-------------trade size * 0.4--------------50 * 0.4 = 20 stocks
50%-------------trade size * 0.5--------------50 * 0.5 = 25 stocks
60%-------------trade size * 0.6--------------50 * 0.6 = 30 stocks
66%-------------trade size * 0.66-------------50 * 0.66 = 33 stocks
75%-------------trade size * 0.75-------------50 * 0.75 = 37.5(~38) stocks
80%-------------trade size * 0.8--------------50 * 0.8 = 40 stocks
100%------------trade size--------------------50 = 50 stocks
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If for any reason a portion of the current/remaining trade closed at such occurrence was slightly wrong, it is not an issue. Such occurrences are rare and with slight difference in partial TP closed is not significant to overall performance of our algorithms.
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Alert Settings (you don’t have to touch this section unless you will be using TradingView alerts through a Webhook to use with trading bot)
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Here is how a LONG OPEN alert looks like.
NOTE: Each label , , etc. is customizable, you can change the text of it within indicator Input settings.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: OPEN
ENTRY: 20000
TP1: 20500
TP2: 21000
TP3: 21500
TP4: 22500
TP5: 23500
SL: 19000
Leverage: 0
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Here is how a TP1 alert will look with 5 TPs breakdown of the trade.
NOTE1: Next to TP1 taken it will show at which price it was triggered.
NOTE2: Next to "TP Percentage" it shows how much of the CURRENT/ACTIVE/REMAINING trade needs to be closed.
NOTE2: If TP2/3/4/5 comes before TP1 - the alert will tell you exactly how many percent of the trade needs to be closed!
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: TP1
TP1: 20500
TP Percentage: 20%
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Here is how an alert will look for LONG - STOP-LOSS.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
ENTRY: 20000
LONG: SL
SL: 19000
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Here is how an alert will look for LONG - EOD (End of Day) In Profit close.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: EOD-Close (profit)
ENTRY: 20000
EOD-Close: 21900
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Adding Alerts in TradngView
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-Add indicator to chart and make sure the correct strategy is configured (check Backtesting results)
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Select this indicator by it’s name
-Immediately below, change it to "alert() function calls only", as other wise there will be 2 alerts for every alert!
-Expiration: Open-ended (that may require higher tier TradingView account, otherwise the alert will need to be occasionally re-triggered)
-Alert name: Whatever you desire
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
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If you have any questions or issues with the indicator, please message me directly via TradingView.
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Good Luck! (NOTE: Trading is very risky, past performance is not necessarily indicative of future results, so please trade responsibly!)
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NOTE: There seems to be a strange glitch when strategy is running live, it will show "double-take" take-profits labels on the chart. This is not affecting the script logic and backtesting results, if you simply change the timeframe real quick to something else then back - it will no longer show the duplicate orders... this must be some sort of a glitch as every alert was thoroughly tested to make sure everything is working!
Broadview Algorithmic StudioWelcome! This is the writeup for the Broadview Algorithmic Studio.
There are many unique features in this script.
- Broadview Underpriced & Overpriced
- Broadview Blackout Bollinger Bands
- Trailing Take Profit Suite
- Algorithmic Weights
- VSA Score
- Pip Change Log
- Activation Panel
- Weight Scanner
There are 116 primary inputs that allow users to algorithmically output unique DCA signal-sets. There are 85 inputs that allow users to control individual lengths, levels, thresholds, and multiplicative weights of the script. You will not find any other script with this many inputs, properly strung together for you to produce unlimited strategies for any market. The entire premise for the Broadview Algorithmic Studio is for users to be able to have extensive-cutting-edge features that allow them to produce more strategies, having control over every element that outputs a signal set. The number of unique strategies you can output with this script is VAST, and each continues to follow a safe DCA methodology.
This script is ready for use with 3Commas, interactive brokers, and other means of automation. It provides detailed information on Base Orders and Safety Orders, giving the number, cumulative spending, position average, and remaining balance for each SO in the series. Using this script we will explore the depths of strategic volume scaling, and the algorithms we use to determine spending.
Let me first start by saying the number of safe DCA-friendly signal-sets this script can output is absolutely staggering.
Let's limit the scope just to the Broadview Underpriced & Overpriced and Broadview Dominance indicators.
Each band of the Dominance Suite can be controlled individually with unique lengths, levels, and weights. This means the Dominance Suite can establish Bearish or Bullish dominance, in any market condition, and give it a unique overloading weight. The Broadview Underpriced & Overpriced indicator finally gives us the ability to establish these "market conditions" first with cycles. Of all the cycles this indicator establishes, the two primary are Underpriced & Overpriced. We determine this using a composite Overbought & Oversold with an Exponential Moving Average. So the script can now know, what cycle it is in, who is dominant during that cycle, and exactly how much weight in volume scaling the order should have.
Brand new is the ability for indicators of this level to be able to talk together in a single script. The Broadview Underpriced & Overpriced indicator and the Broadview Dominance indicator can inform one another across multiple vectors, create a unique market snapshot, and give that snapshot a unique weight every bar. The unique weight is compiled in the volume scaling math, thus giving us an automated-strategic-safe and quite efficient volume scaling for every order. In our coming updates we will explore this synergy to its very deepest layers. These indicators can be laced together in many ways, called vectors.
Only in the Algorithmic Studio do we explore these depths and yield those findings, features, and inputs to the user.
Let me take a quick break to explain another area-of-opportunity for our research and development.
The VSA Score is something we've tried before, but until the creation of the Broadview Blackout Bollinger Bands Auto Indicator it was not possible. The concept we want to explore is "Positional Honing". Over time we want users and the script itself to be able to understand the difference between a script-config that produces a high number of Hits, from a configuration that produces a high number of "Misses". The Volume Scaling Accuracy Score uses the BBB Auto Indicator as a heavily reliable, non-repainting, method of determining what the very-best signals for increased volume-scaling are.
Increased volume scaling is denoted by the near-white highlighter line running vertically. This line will either fall inside the BBB Auto Indicator bands (which are hidden), or, they will fall below and outside the BBB Auto bands. If increased spending happens inside the bands it's a "Miss". If increased spending happens below and outside the bands, it's a Hit. Oftentimes misses are actually pretty good spots for extra spending, which helps lower your position average, but Hits are always better. The Hits that the BBB Auto Indicator provides are extremely good.
Let's talk about the Trailing Take Profit Suite. This suite allows us to set a trailing take profit which is a feature that lets one maximize their profits. If the trailing take profit is engaged, then when the regular take profit is hit, it will trigger, denoted in red vertical lines, and the trailing take profit will look for a specified rate of change before it actually takes profit. This usually helps traders in those times when their regular take profit was set too low, allowing them to maximize their profits with a Trailing Take Profit.
For the moment, let's think about our scores. In the dashboard you'll notice a score beginning the Pip Change Log, the VSA Score, and the Activation Panel.
These scores use a new kind of logistic correlation formula where 4 digits are given to activation, rather than 1. This is to allow room for a future concept in AI we call "Deadzones" or you can think of it as impedance. This is not a bias in logistic regression. It's an entirely different concept. A neuron, which a perceptron attempts to mimic, has a bias.. but it also has a sort of electrical resistance. This is because a neuron is individually-alive entity. So a perceptron, as it were, would need to have both a bias and a natural resistance, or deadzone.
It is a lot of fun to watch the scores and how they react during playback. They tend to smooth trends but are also quite quick to correct to accuracy. In the future we will add the deadzones and biases to the scores. This should help both users and the script produce better signal sets. The Pip Change Log is an indicator that measures Rate of Change in Pips. This is one that I am particularly excited to study, as I am a huge fan of ROC. The Activation Panel shows these scores for 4 primary indicators: On Balance Volume, Relative Strength Index, Average Directional Index, and Average True Range.
Having the Pip Change Log, VSA Score, and Activation Panel up on the dashboard with their logistic correlation scores allows traders to study markets and setups quite intimately. The weight scanner at the bottom allows users to track the cumulative applied multiplicative weights during playback. The massive number of inputs, connected vectors of indicators, input-weights, lengths, levels, and thresholds sets up all the algorithmic infrastructure for powerusers to explore every idea and strategy output they could imagine. Also with the connected vector infrastructure we can deepen our indicators in a way where, "How they talk to each other.", comes first in every development conversation.
The Algorithmic Studio is for the Power-user.
These are not basic equations coming together to determine spending. This is a massive multi-layered-perceptron with everything from Trailing-Take-Profits to strategic-automatic algorithmic downscaling. The Broadview Algorithmic Studio gives a home to the poweruser who wants access to everything in a trading and investing AI, right up until the backpropagation. The Broadview Algorithmic Studio, gives users the ability to sit in the chair of the would-be AI.
Thank you.
Moving Average Rainbow (Stormer)This strategy is based and shown by trader and investor Alexandre Wolwacz "Stormer".
Overview
The strategy uses 12 moving averages (default EMA) to identify trends and generate trading signals opening positions.
Allowing to select the type of moving average and length to be used.
The conditions includes relationship between moving averages, the position of the current price relative to the moving averages, and the occurrence of certain price patterns.
Calculation
The mean moving averages is calculated by adding all the 12 moving averages and dividing by 12, the value is used to help to identify trend and possible condition to open position.
The 12 moving averages is spliced by 3 ranges, initial range (moving average lines 1 to 4), middle range (moving average lines 5 to 8) and end range (moving average lines 9 to 12). These ranges helps to identify potential trend and market turn over.
The moving average touch price is a relationship between the low price (uptrend) or high price (downtrend) with the moving average lines, it identifies where the price (low/high) has reached the the moving average line. Fetching the value to help for opening position, set stop loss and take profit.
Since the stop loss is based and set from the previous moving average touch price value, when position is about to be open and setting the stop loss value, there is a verification to check both current and previous moving average touch price to recalculate the stop loss value.
The turnover trend checks for a possible market turnover event, setting up a new profit target, this setting when enabled is to be helpful when a turnover occurs against the position to exit position with some profit based on highest high price if long or lowest low price if short.
The turnover signal is similar to turnover trend. The difference is that when this setting is enabled and it triggers, it simply exit the current position and opens up a reverse position, long goes short and short goes long. And there is an complement optional that checks current price exit profitable.
Entry Position
Long Position:
Price is higher than the mean moving averages. Meaning possible uptrend.
The lines of the middle range from the moving averages are in increasing order. Meaning possible uptrend.
The current high pierced up previous high.
Fetch the previous value of the moving average touch price. Meaning the low price has touched one of the moving average lines, which that value is conditioning to open position.
Short Position:
Price is lower than the mean moving averages. Meaning possible downtrend.
The lines of the middle range from the moving averages are in decreasing order. Meaning possible downtrend.
The current low pierced down previous low.
Fetch the previous value of the moving average touch price. Meaning the high price has touched one of the moving average lines, which that value is conditioning to open position.
Risk Management
Stop Loss:
The stop loss is based from the previous moving average touch price value, high price for short and low price for long or occurs an verification to check for both current and previous moving average touch price value and a recalculation is done to set the stop loss.
Take Profit:
According to the author, the profit target should be at least 1:1.6 the risk, so to have the strategy mathematically positive.
The profit target is configured input, can be increased or decreased.
It calculates the take profit based on the price of the stop loss with the profit target input.
Turnover Trend
Long Position:
The moving averages initial range lines signals a possible market turnover. Meaning long might be going short.
Fetches the highest high hit since the opening of the position, setting that value to the new profit target.
Short Position:
The moving averages initial range lines signals a possible market turnover. Meaning short might be going long.
Fetches the lowest low hit since the opening of the position, setting that value to the new profit target.
3Commas Bot DCA Backtester & Signals FREEThis is a DCA Strategy backtester + signals, built to emulate the 3Commas DCA bots. It uses your choice of 4 different buy signals, 2 of which can be adjusted in the settings. Everything is customizable so you can backtest specific settings with different buy signals and find the best performing strategy for your risk tolerance and capital. It can be used to backtest strategies on stocks as well, but just make sure your base order is larger than the share price for the entire backtesting range or it will not calculate properly.
You can use this template to code your own buy signals and then backtest them as a DCA strategy if you know some basic pine script.
The indicator shows all of your backtesting orders on the chart. The red line is your take profit level, the blue line is your average price level, the white line is your first order and the green lines are your average down orders. If you enable a stop loss in the settings your stop loss will be shown as an orange line once all of your average down orders have been hit, it will not be set until price has dipped below your covered trading range.
These levels update when things change during backtesting so you can visualize your strategy and how it would perform as well as see if your percentage deviation is large enough to cover dips. When backtesting trades are taken, the chart will show where they were taken(in backtesting) along with info on those trades such as the number each order is, the size of that order and the percentage deviation that order is from the initial buy.
SENDING SIGNALS TO 3COMMAS
Tradingview cannot sync this backtester to 3Commas and with the way alerts are setup for strategies on Tradingview, the best option for you to give signals to your bot would be to use this backtester to figure out what trigger you want to use and then setup that indicator separately to send alerts to your bot. All of the indicators used for signals in this backtester are available for free and can be configured to match this backtester and send alerts to 3Commas for you. Just make sure you set your alerts to once per bar close and don’t use less than a 15 second timeframe because then you could trigger the Tradingview threshold for alerts and get your alerts shut off.
You can also use this backtester with your own buy triggers if you know a little pine script. Just make copy of the script and code in your own buy signals and see how it backtests.
INFO PANEL FOR ANALYZING YOUR STRATEGY
The right hand side of the screen will show an info panel that shows a lot of different information so you can quickly see your bot settings and how it performed right on the screen.
In the top right corner you will see in purple your bot settings. These include your stoploss % if turned on, take profit %, average down order %, average down order % multiplier, volume multiplier, max number of orders allowed and size of your base order.
The top section of the first column “Current Trade” shows these stats: the open trade’s average price, the open trade’s take profit price, the open trade’s PNL, how far price is from your open tarde’s take profit level in percentage, your open position size and number of open orders.
The bottom section of the first column “Overall Performance” shows these stats: total number of trades taken during backtesting range, the largest amount of trades that were open at one time during backtesting, the max drawdown, the average number of bars per trade, gross profit, net profit, percent profit from your initial capital, current portfolio value and your initial capital.
CUSTOMIZABLE OPTIONS TO FIND THE PERFECT STRATEGY
Stoploss On/Off
This will turn your stoploss on or off. By default it is set to off and will not affect anything unless turned on.
Stoploss Percentage
This is the percentage below your final average down order price that will be set as a stoploss to keep your account from going too far in the red on big dips.
Take Profit Percentage - This is the percentage of profit you want the trade to hit before taking profit on your entire DCA trade. This level updates everytime you average down.
Average Down Percentage - This is the percentage that price has to drop from your initial order to initiate your first safety order. If the Average Down Percent Multiplier is set to 1 then this percentage will be the same for every average down order.
Average Down Percentage Multiplier - This multiplies your Average Down Percentage so each safety order needs a larger percentage deviation than the previous one. This keeps your buys closer together at the beginning and further apart when you hit more orders so you can extend your trading range but still be aggressive when price is going sideways.
Volume Multiplier Per New Order - This multiplies the size of each trade based on your base order. If you set it to a 2x multiplier then each average down order will be 2 times the size of the last one. So for example, a $100 base order with a 2x multiplier would have these values for the first 3 average down orders: 200, 400, 800.
Size Of Base Order - This is the size of your first position entry and will be used as a starting point for the volume multiplier. If your base order is $100 then it will buy $100 worth of whatever crypto you are backtesting this on. If you are looking at stock charts, you need to make sure your base order is higher than the share price across the entire backtesting range or it will not perform correctly.
Max Number Of Orders - This is the maximum number of orders the bot can take, including your base order. Adjust this to suit the amount of capital you are willing to allocate to your bot based on how much money it will require to run according to your bot settings.
TIPS ON HOW TO USE FOR BEST RESULTS
If you don’t have a lot of capital to work with, then use longer timeframes with a reasonable take profit percentage so that you don’t need a lot of average down orders. You can also try keeping the volume multiplier close to 1.
You can use the 3Commas dca bot settings page to see how much capital you will need for your strategy if you match it to the settings you have on this indicator. You can also check to see how much of a percentage deviation your bot is covering to make sure you have a reasonable range to trade in and orders to cover big dips. You can also check your coverage by seeing how far down the chart the green lines cover, which are your average down orders.
Make sure the initial capital in the properties tab of the settings has enough to cover all of your orders otherwise you will get unrealistic backtesting results. Also, make sure you leave the order size in the properties tab on contracts so it calculates your trades correctly. The only settings you need to touch in the properties tab is the initial capital. Unless you are trading somewhere that has lower commission fees, then you can change that to match, but leave all the other settings as is for it to function properly.
Increasing the volume multiplier will make your average price and take profit target follow the price action a lot closer as price falls, but it can also lead to having very large orders very quickly once you get into the 1.5-3x multiple range. Try using a high volume multiplier with less safety orders and you will get better results, however you need to have money on the sidelines to add on major dips to keep your bot turning a profit. Be very careful with this as greed and impatience will hurt your overall performance. This bot is meant to make money with lots of small wins so don’t get greedy and make sure you have enough money to cover large dips. If you are being aggressive with your bot, then I recommend only using 25% or less of your portfolio to trade aggressively and then use the smart trade feature on 3commas to add chunks of funds to your trades when price dips below your last safety order. Or if you want it to run without any supervision, then use lower volume multipliers and have lots of safety orders that can cover entire bear markets and still keep buying lower.
It’s a good idea to have some capital on the sidelines that you can add in when price dips quickly. This will help lower your average price and allow your bot to get out in profit quicker. 3Commas bot has a smart trade feature that will allow you to track your average price when adding extra funds and it will automatically update your other orders which is very convenient. Look at the longer timeframes when price dips and only add chunks at major areas where price is very likely to bounce. Or you can be aggressive when trading and add to your position when price dips and is at a likely bounce zone to maximize profits.
Only trade coins that have a good amount of liquidity as the larger your orders get, the harder it will be to sell if there isn’t much liquidity. Also, beware of how large your first order is as it will usually be a market order and can move the market if there is not much liquidity.
Since this bot takes a lot of trades and performs best when taking small profits consistently, you will need to factor in exchange fees. The bot is set to .5% commission(you can change this) on the buy and sell orders as most exchanges charge that amount. Some exchanges offer no fee trading on certain coins so be sure to look around for those so you can keep the commissions and maximize profits.
I strongly encourage you to try out a lot of different setting combinations across multiple different coins and do it across a few months to see how it would have performed under various market conditions. This will help you get a better idea of how much of a percentage deviation you’ll need to be able to cover to keep your bot running and making constant profits. You can also use the deep backtesting feature of the strategy panel to see how it would have done, but just beware that the info panel of the indicator will not reflect deep backtesting results, only the normal backtesting range.
MARKETS
This backtester can be used on any market including crypto, stocks, forex & futures. You just need to make sure your base order is larger than the share price when using this on things besides crypto.
TIMEFRAMES
This backtester can be used on all timeframes.
LONG SAZB $This strategy combines the use of:
-The MTF EMA to detect trends.
-The MACD to create Long and Short Buy signals.
-The ATR for setting Stop Losses and Take Profits.
This works well with many different crypto and fiat pairs, but it must be optimized for the certain behavior of the currency pair. Its optimal use is strong trends, not so profitable when sideways.
This strategy was developed with the 5-minute Bitcoin / TetherUS Perpetual futures for Binance (Crypto trading platform).
This is the first version, updates will come.
MTF EMA
The MTF EMA (Multi-TimeFrame Exponential Moving Average ) is a great indicator to see the overall trend of an asset, you can see the status of a moving average for all timeframes on one chart.
Normally when you check a moving average of the price it's on some specific timeframe. The MTF EMA allows you to see moving average status for all timeframes in a single place. You can simplify your visual representation and know if an asset or a pair is overall bullish or bearish , with this improving your entry and exit signal decisions.
This strategy uses the 1 hour and 15 min EMA with different values. Experimenting with these is important to understand the currency pairs.
Up trend:
Price (source) > 1h MTF and 1h MTF < 15m MTF
Down trend:
Price (source) < 1h MTF and 1h MTF > 15m MTF
MACD
Using MACD (Moving Average Convergence Divergence) as a reference, the strategy identifies when the MACD line crosses over (a factor in a buy signal) and under (a factor in a Sell signal) the Signal line. This shows a shift in positive (cross over) and negative (cross under) of a security.
This strategy uses values of 12 on the Fast MA, 26 on the Slow MA, and 9 in the Signal Line MA.
The optional ribbon is for a more visual representation of the MACD .
The MACD and Signal line have the option to have a crossover limit to cancel buy signals depending on the value they crossed at according to the 0 line of the MACD . This is to avoid fake signals.
ATR TP/SL
Using ATR to define the stop loss and take profit is that it should allow you to set them at a realistic distance from price. Simply put, a pair experiencing a high level of volatility has a higher ATR, and a low volatility stock has a lower ATR.
The indicator does not indicate the price direction; rather it is used primarily to measure volatility caused by gaps and limit up or down moves. All this is used to allow the Stop Loss “breathing space” so trades don't get unnecessarily stopped, and allow the Take Profit to be at a more realistic, flexible, and profitable price.
This strategy uses different values for Longs and Shorts depending on the market behavior, optionally analyzes swing lows and highs according to the value of the candle lookback and sets the ATR depending on them, they must be tested to optimum. Also the ATR has a multiplicator to find the most efficient price levels.
Trade Setup
Shorts and Longs can be turned OFF and ON.
There is an optional maximum % loss for trades, the trade is closed when the high-low average of a candle is over this %.
Longs
This strategy indicates a Long Buy signal when these conditions are met:
- Uptrend signal from MTF EMA .
- MACD Crossover of Signal ( MACD > Signal) while being under the MACD crossover limit.
A Long exit signal is indicated when:
- Price crosses over the ATR Take Profit limit.
- Price crosses under the ATR Stop Loss limit.
- Price crosses under optional max % long loss.
Shorts
This strategy indicates a Long Buy signal when these conditions are met:
- Downtrend signal from MTF EMA .
- Signal Crossover of MACD ( MACD < Signal) while being over the MACD crossover limit.
A Short exit signal is indicated when:
- Price crosses under the ATR Take Profit limit.
- Price crosses over the ATR Stop Loss limit.
- Price crosses over optional max % short loss.
Disclaimer
1. I am not a licensed financial advisor or broker dealer. I do not tell you when or what to buy or sell. I developed this software which enables you to execute manual or automated trades multiple trades using TradingView. The software allows you to set the criteria you want for entering and exiting trades.
2. Do not trade with money you cannot afford to lose.
3. I do not guarantee consistent profits or that anyone can make money with no effort. I am not selling the holy grail.
4. Every system can have winning and losing streaks.
5. Money management plays a large role in the results of your trading. For example: lot size, account size, broker leverage, and broker margin call rules all have an effect on results. Also, your Take Profit and Stop Loss settings for individual pair trades and for overall account equity have a major impact on results. If you are new to trading and do not understand these items, then I recommend you seek education materials to further your knowledge.
**YOU NEED TO FIND AND USE THE TRADING SYSTEM THAT WORKS BEST FOR YOU AND YOUR TRADING TOLERANCE.**
**I HAVE PROVIDED NOTHING MORE THAN A TOOL WITH OPTIONS FOR YOU TO TRADE WITH THIS PROGRAM ON TRADINGVIEW.**
I am 100 % open to suggestions to improve the script.
If you encounter any problems or would like to see the script, share them with me at "steven17zmuda@gmail.com".
Items in this description text may not be written directly by me, but may be taken from education sites.
Webhook Starter Kit [HullBuster]
Introduction
This is an open source strategy which provides a framework for webhook enabled projects. It is designed to work out-of-the-box on any instrument triggering on an intraday bar interval. This is a full featured script with an emphasis on actual trading at a brokerage through the TradingView alert mechanism and without requiring browser plugins.
The source code is written in a self documenting style with clearly defined sections. The sections “communicate” with each other through state variables making it easy for the strategy to evolve and improve. This is an excellent place for Pine Language beginners to start their strategy building journey. The script exhibits many Pine Language features which will certainly ad power to your script building abilities.
This script employs a basic trend follow strategy utilizing a forward pyramiding technique. Trend detection is implemented through the use of two higher time frame series. The market entry setup is a Simple Moving Average crossover. Positions exit by passing through conditional take profit logic. The script creates ten indicators including a Zscore oscillator to measure support and resistance levels. The indicator parameters are exposed through 47 strategy inputs segregated into seven sections. All of the inputs are equipped with detailed tool tips to help you get started.
To improve the transition from simulation to execution, strategy.entry and strategy.exit calls show enhanced message text with embedded keywords that are combined with the TradingView placeholders at alert time. Thereby, enabling a single JSON message to generate multiple execution events. This is genius stuff from the Pine Language development team. Really excellent work!
This document provides a sample alert message that can be applied to this script with relatively little modification. Without altering the code, the strategy inputs can alter the behavior to generate thousands of orders or simply a few dozen. It can be applied to crypto, stocks or forex instruments. A good way to look at this script is as a webhook lab that can aid in the development of your own endpoint processor, impress your co-workers and have hours of fun.
By no means is a webhook required or even necessary to benefit from this script. The setups, exits, trend detection, pyramids and DCA algorithms can be easily replaced with more sophisticated versions. The modular design of the script logic allows you to incrementally learn and advance this script into a functional trading system that you can be proud of.
Design
This is a trend following strategy that enters long above the trend line and short below. There are five trend lines that are visible by default but can be turned off in Section 7. Identified, in frequency order, as follows:
1. - EMA in the chart time frame. Intended to track price pressure. Configured in Section 3.
2. - ALMA in the higher time frame specified in Section 2 Signal Line Period.
3. - Linear Regression in the higher time frame specified in Section 2 Signal Line Period.
4. - Linear Regression in the higher time frame specified in Section 2 Signal Line Period.
5. - DEMA in the higher time frame specified in Section 2 Trend Line Period.
The Blue, Green and Orange lines are signal lines are on the same time frame. The time frame selected should be at least five times greater than the chart time frame. The Purple line represents the trend line for which prices above the line suggest a rising market and prices below a falling market. The time frame selected for the trend should be at least five times greater than the signal lines.
Three oscillators are created as follows:
1. Stochastic - In the chart time frame. Used to enter forward pyramids.
2. Stochastic - In the Trend period. Used to detect exit conditions.
3. Zscore - In the Signal period. Used to detect exit conditions.
The Stochastics are configured identically other than the time frame. The period is set in Section 2.
Two Simple Moving Averages provide the trade entry conditions in the form of a crossover. Crossing up is a long entry and down is a short. This is in fact the same setup you get when you select a basic strategy from the Pine editor. The crossovers are configured in Section 3. You can see where the crosses are occurring by enabling Show Entry Regions in Section 7.
The script has the capacity for pyramids and DCA. Forward pyramids are enabled by setting the Pyramid properties tab with a non zero value. In this case add on trades will enter the market on dips above the position open price. This process will continue until the trade exits. Downward pyramids are available in Crypto and Range mode only. In this case add on trades are placed below the entry price in the drawdown space until the stop is hit. To enable downward pyramids set the Pyramid Minimum Span In Section 1 to a non zero value.
This implementation of Dollar Cost Averaging (DCA) triggers off consecutive losses. Each loss in a run increments a sequence number. The position size is increased as a multiple of this sequence. When the position eventually closes at a profit the sequence is reset. DCA is enabled by setting the Maximum DCA Increments In Section 1 to a non zero value.
It should be noted that the pyramid and DCA features are implemented using a rudimentary design and as such do not perform with the precision of my invite only scripts. They are intended as a feature to stress test your webhook endpoint. As is, you will need to buttress the logic for it to be part of an automated trading system. It is for this reason that I did not apply a Martingale algorithm to this pyramid implementation. But, hey, it’s an open source script so there is plenty of room for learning and your own experimentation.
How does it work
The overall behavior of the script is governed by the Trading Mode selection in Section 1. It is the very first input so you should think about what behavior you intend for this strategy at the onset of the configuration. As previously discussed, this script is designed to be a trend follower. The trend being defined as where the purple line is predominately heading. In BiDir mode, SMA crossovers above the purple line will open long positions and crosses below the line will open short. If pyramiding is enabled add on trades will accumulate on dips above the entry price. The value applied to the Minimum Profit input in Section 1 establishes the threshold for a profitable exit. This is not a hard number exit. The conditional exit logic must be satisfied in order to permit the trade to close. This is where the effort put into the indicator calibration is realized. There are four ways the trade can exit at a profit:
1. Natural exit. When the blue line crosses the green line the trade will close. For a long position the blue line must cross under the green line (downward). For a short the blue must cross over the green (upward).
2. Alma / Linear Regression event. The distance the blue line is from the green and the relative speed the cross is experiencing determines this event. The activation thresholds are set in Section 6 and relies on the period and length set in Section 2. A long position will exit on an upward thrust which exceeds the activation threshold. A short will exit on a downward thrust.
3. Exponential event. The distance the yellow line is from the blue and the relative speed the cross is experiencing determines this event. The activation thresholds are set in Section 3 and relies on the period and length set in the same section.
4. Stochastic event. The purple line stochastic is used to measure overbought and over sold levels with regard to position exits. Signal line positions combined with a reading over 80 signals a long profit exit. Similarly, readings below 20 signal a short profit exit.
Another, optional, way to exit a position is by Bale Out. You can enable this feature in Section 1. This is a handy way to reduce the risk when carrying a large pyramid stack. Instead of waiting for the entire position to recover we exit early (bale out) as soon as the profit value has doubled.
There are lots of ways to implement a bale out but the method I used here provides a succinct example. Feel free to improve on it if you like. To see where the Bale Outs occur, enable Show Bale Outs in Section 7. Red labels are rendered below each exit point on the chart.
There are seven selectable Trading Modes available from the drop down in Section 1:
1. Long - Uses the strategy.risk.allow_entry_in to execute long only trades. You will still see shorts on the chart.
2. Short - Uses the strategy.risk.allow_entry_in to execute short only trades. You will still see long trades on the chart.
3. BiDir - This mode is for margin trading with a stop. If a long position was initiated above the trend line and the price has now fallen below the trend, the position will be reversed after the stop is hit. Forward pyramiding is available in this mode if you set the Pyramiding value in the Properties tab. DCA can also be activated.
4. Flip Flop - This is a bidirectional trading mode that automatically reverses on a trend line crossover. This is distinctively different from BiDir since you will get a reversal even without a stop which is advantageous in non-margin trading.
5. Crypto - This mode is for crypto trading where you are buying the coins outright. In this case you likely want to accumulate coins on a crash. Especially, when all the news outlets are talking about the end of Bitcoin and you see nice deep valleys on the chart. Certainly, under these conditions, the market will be well below the purple line. No margin so you can’t go short. Downward pyramids are enabled for Crypto mode when two conditions are met. First the Pyramiding value in the Properties tab must be non zero. Second the Pyramid Minimum Span in Section 1 must be non zero.
6. Range - This is a counter trend trading mode. Longs are entered below the purple trend line and shorts above. Useful when you want to test your webhook in a market where the trend line is bisecting the signal line series. Remember that this strategy is a trend follower. It’s going to get chopped out in a range bound market. By turning on the Range mode you will at least see profitable trades while stuck in the range. However, when the market eventually picks a direction, this mode will sustain losses. This range trading mode is a rudimentary implementation that will need a lot of improvement if you want to create a reliable switch hitter (trend/range combo).
7. No Trade. Useful when setting up the trend lines and the entry and exit is not important.
Once in the trade, long or short, the script tests the exit condition on every bar. If not a profitable exit then it checks if a pyramid is required. As mentioned earlier, the entry setups are quite primitive. Although they can easily be replaced by more sophisticated algorithms, what I really wanted to show is the diminished role of the position entry in the overall life of the trade. Professional traders spend much more time on the management of the trade beyond the market entry. While your trade entry is important, you can get in almost anywhere and still land a profitable exit.
If DCA is enabled, the size of the position will increase in response to consecutive losses. The number of times the position can increase is limited by the number set in Maximum DCA Increments of Section 1. Once the position breaks the losing streak the trade size will return the default quantity set in the Properties tab. It should be noted that the Initial Capital amount set in the Properties tab does not affect the simulation in the same way as a real account. In reality, running out of money will certainly halt trading. In fact, your account would be frozen long before the last penny was committed to a trade. On the other hand, TradingView will keep running the simulation until the current bar even if your funds have been technically depleted.
Entry and exit use the strategy.entry and strategy.exit calls respectfully. The alert_message parameter has special keywords that the endpoint expects to properly calculate position size and message sequence. The alert message will embed these keywords in the JSON object through the {{strategy.order.alert_message}} placeholder. You should use whatever keywords are expected from the endpoint you intend to webhook in to.
Webhook Integration
The TradingView alerts dialog provides a way to connect your script to an external system which could actually execute your trade. This is a fantastic feature that enables you to separate the data feed and technical analysis from the execution and reporting systems. Using this feature it is possible to create a fully automated trading system entirely on the cloud. Of course, there is some work to get it all going in a reliable fashion. Being a strategy type script place holders such as {{strategy.position_size}} can be embedded in the alert message text. There are more than 10 variables which can write internal script values into the message for delivery to the specified endpoint.
Entry and exit use the strategy.entry and strategy.exit calls respectfully. The alert_message parameter has special keywords that my endpoint expects to properly calculate position size and message sequence. The alert message will embed these keywords in the JSON object through the {{strategy.order.alert_message}} placeholder. You should use whatever keywords are expected from the endpoint you intend to webhook in to.
Here is an excerpt of the fields I use in my webhook signal:
"broker_id": "kraken",
"account_id": "XXX XXXX XXXX XXXX",
"symbol_id": "XMRUSD",
"action": "{{strategy.order.action}}",
"strategy": "{{strategy.order.id}}",
"lots": "{{strategy.order.contracts}}",
"price": "{{strategy.order.price}}",
"comment": "{{strategy.order.alert_message}}",
"timestamp": "{{time}}"
Though TradingView does a great job in dispatching your alert this feature does come with a few idiosyncrasies. Namely, a single transaction call in your script may cause multiple transmissions to the endpoint. If you are using placeholders each message describes part of the transaction sequence. A good example is closing a pyramid stack. Although the script makes a single strategy.close() call, the endpoint actually receives a close message for each pyramid trade. The broker, on the other hand, only requires a single close. The incongruity of this situation is exacerbated by the possibility of messages being received out of sequence. Depending on the type of order designated in the message, a close or a reversal. This could have a disastrous effect on your live account. This broker simulator has no idea what is actually going on at your real account. Its just doing the job of running the simulation and sending out the computed results. If your TradingView simulation falls out of alignment with the actual trading account lots of really bad things could happen. Like your script thinks your are currently long but the account is actually short. Reversals from this point forward will always be wrong with no one the wiser. Human intervention will be required to restore congruence. But how does anyone find out this is occurring? In closed systems engineering this is known as entropy. In practice your webhook logic should be robust enough to detect these conditions. Be generous with the placeholder usage and give the webhook code plenty of information to compare states. Both issuer and receiver. Don’t blindly commit incoming signals without verifying system integrity.
Setup
The following steps provide a very brief set of instructions that will get you started on your first configuration. After you’ve gone through the process a couple of times, you won’t need these anymore. It’s really a simple script after all. I have several example configurations that I used to create the performance charts shown. I can share them with you if you like. Of course, if you’ve modified the code then these steps are probably obsolete.
There are 47 inputs divided into seven sections. For the most part, the configuration process is designed to flow from top to bottom. Handy, tool tips are available on every field to help get you through the initial setup.
Step 1. Input the Base Currency and Order Size in the Properties tab. Set the Pyramiding value to zero.
Step 2. Select the Trading Mode you intend to test with from the drop down in Section 1. I usually select No Trade until I’ve setup all of the trend lines, profit and stop levels.
Step 3. Put in your Minimum Profit and Stop Loss in the first section. This is in pips or currency basis points (chart right side scale). Remember that the profit is taken as a conditional exit not a fixed limit. The actual profit taken will almost always be greater than the amount specified. The stop loss, on the other hand, is indeed a hard number which is executed by the TradingView broker simulator when the threshold is breached.
Step 4. Apply the appropriate value to the Tick Scalar field in Section 1. This value is used to remove the pipette from the price. You can enable the Summary Report in Section 7 to see the TradingView minimum tick size of the current chart.
Step 5. Apply the appropriate Price Normalizer value in Section 1. This value is used to normalize the instrument price for differential calculations. Basically, we want to increase the magnitude to significant digits to make the numbers more meaningful in comparisons. Though I have used many normalization techniques, I have always found this method to provide a simple and lightweight solution for less demanding applications. Most of the time the default value will be sufficient. The Tick Scalar and Price Normalizer value work together within a single calculation so changing either will affect all delta result values.
Step 6. Turn on the trend line plots in Section 7. Then configure Section 2. Try to get the plots to show you what’s really happening not what you want to happen. The most important is the purple trend line. Select an interval and length that seem to identify where prices tend to go during non-consolidation periods. Remember that a natural exit is when the blue crosses the green line.
Step 7. Enable Show Event Regions in Section 7. Then adjust Section 6. Blue background fills are spikes and red fills are plunging prices. These measurements should be hard to come by so you should see relatively few fills on the chart if you’ve set this up as intended. Section 6 includes the Zscore oscillator the state of which combines with the signal lines to detect statistically significant price movement. The Zscore is a zero based calculation with positive and negative magnitude readings. You want to input a reasonably large number slightly below the maximum amplitude seen on the chart. Both rise and fall inputs are entered as a positive real number. You can easily use my code to create a separate indicator if you want to see it in action. The default value is sufficient for most configurations.
Step 8. Turn off Show Event Regions and enable Show Entry Regions in Section 7. Then adjust Section 3. This section contains two parts. The entry setup crossovers and EMA events. Adjust the crossovers first. That is the Fast Cross Length and Slow Cross Length. The frequency of your trades will be shown as blue and red fills. There should be a lot. Then turn off Show Event Regions and enable Display EMA Peaks. Adjust all the fields that have the word EMA. This is actually the yellow line on the chart. The blue and red fills should show much less than the crossovers but more than event fills shown in Step 7.
Step 9. Change the Trading Mode to BiDir if you selected No Trades previously. Look on the chart and see where the trades are occurring. Make adjustments to the Minimum Profit and Stop Offset in Section 1 if necessary. Wider profits and stops reduce the trade frequency.
Step 10. Go to Section 4 and 5 and make fine tuning adjustments to the long and short side.
Example Settings
To reproduce the performance shown on the chart please use the following configuration: (Bitcoin on the Kraken exchange)
1. Select XBTUSD Kraken as the chart symbol.
2. On the properties tab set the Order Size to: 0.01 Bitcoin
3. On the properties tab set the Pyramiding to: 12
4. In Section 1: Select “Crypto” for the Trading Model
5. In Section 1: Input 2000 for the Minimum Profit
6. In Section 1: Input 0 for the Stop Offset (No Stop)
7. In Section 1: Input 10 for the Tick Scalar
8. In Section 1: Input 1000 for the Price Normalizer
9. In Section 1: Input 2000 for the Pyramid Minimum Span
10. In Section 1: Check mark the Position Bale Out
11. In Section 2: Input 60 for the Signal Line Period
12. In Section 2: Input 1440 for the Trend Line Period
13. In Section 2: Input 5 for the Fast Alma Length
14. In Section 2: Input 22 for the Fast LinReg Length
15. In Section 2: Input 100 for the Slow LinReg Length
16. In Section 2: Input 90 for the Trend Line Length
17. In Section 2: Input 14 Stochastic Length
18. In Section 3: Input 9 Fast Cross Length
19. In Section 3: Input 24 Slow Cross Length
20. In Section 3: Input 8 Fast EMA Length
21. In Section 3: Input 10 Fast EMA Rise NetChg
22. In Section 3: Input 1 Fast EMA Rise ROC
23. In Section 3: Input 10 Fast EMA Fall NetChg
24. In Section 3: Input 1 Fast EMA Fall ROC
25. In Section 4: Check mark the Long Natural Exit
26. In Section 4: Check mark the Long Signal Exit
27. In Section 4: Check mark the Long Price Event Exit
28. In Section 4: Check mark the Long Stochastic Exit
29. In Section 5: Check mark the Short Natural Exit
30. In Section 5: Check mark the Short Signal Exit
31. In Section 5: Check mark the Short Price Event Exit
32. In Section 5: Check mark the Short Stochastic Exit
33. In Section 6: Input 120 Rise Event NetChg
34. In Section 6: Input 1 Rise Event ROC
35. In Section 6: Input 5 Min Above Zero ZScore
36. In Section 6: Input 120 Fall Event NetChg
37. In Section 6: Input 1 Fall Event ROC
38. In Section 6: Input 5 Min Below Zero ZScore
In this configuration we are trading in long only mode and have enabled downward pyramiding. The purple trend line is based on the day (1440) period. The length is set at 90 days so it’s going to take a while for the trend line to alter course should this symbol decide to node dive for a prolonged amount of time. Your trades will still go long under those circumstances. Since downward accumulation is enabled, your position size will grow on the way down.
The performance example is Bitcoin so we assume the trader is buying coins outright. That being the case we don’t need a stop since we will never receive a margin call. New buy signals will be generated when the price exceeds the magnitude and speed defined by the Event Net Change and Rate of Change.
Feel free to PM me with any questions related to this script. Thank you and happy trading!
CFTC RULE 4.41
These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.
POW EdgeHello fellow Trading View member,
Eventually our rebranded update with some extra features for our exclusive 'Edge' Strategy Script.
In this description I will run through;
The strategy itself, what is it?
What does it do?
How does it work?
How can it help you?
How good is it?
What is it.....
The Edge Strategy itself is based upon 5 indicators lining up in total confluence to enter a position in line with a trending move. Adding them together adds more confluence and probability to each individual trade outcome over the longer term. The individual strategies used are based on Trend strategies all used in combination.
The uniqueness to this is how they are combined. Indicators can work to a point individually of course, but combining them together and only trading when all are in a line was our concept, whilst reviewing how each individual indicator can be optimised to work with the others.
Also the motivation was to be the right side of the market in a trending move and capitalising on as much as that move as possible.
The first part is to ensure the candle close is above or below our moving average, we can then check the state and validity of each of the other 4 indicators. Once this confluence is in alignment a trade is valid for entry - this has to be valid at the same time - but not all valid on the same candle - they will come into alignment in different stages. But once they are, our trade is valid.
I will not reveal the other individual 3 indicators but the other is also an ADX function to add a threshold into the strategy to identify a trend - usually above 20/25. This has upsides and downsides as any user can visualise and see in the testing.
We also add to the script to look for a Buy then Sell, Sell then Buy - we found this had more profitable results overall and next phase was to review the money management; where and how we placed our SL and when and why we exited the trade.
Example - for a BUY trade to be valid, all 5 indictors must meet their own criteria before a BUY is printed on the chart. Absolutely no technical analysis is needed to trade this strategy and the data we have is based on using the strategy in isolation - how you wish to use this either independently or supporting your own trading is of course, up to you.
The SL and TP's are based on ATR Multipliers thus ensuring we are factoring in market volatility at that time. We also have a FT (Follow Trend) option, which is a worthy addition for capitalising on big trending moves.
This strategy will work on all markets and timeframes.
We understand and accept that all pairs and markets are different thus we have optimised certain pairs and timeframes with different parameters to provide increased returns, these are hard coded (H1 Timeframe) and also provided for your review.
Profitability is easily viewable in the ‘Strategy Tester’ - this is a great tool. This is where you can see historic / live data for the strategy.
Data like;
The Net Profit
Number of trades
Win Percentage
Every trade taken
Average Win
Average Loss
Maximal DD , etc.
We have individually optimised each pair to ensure this is the case and hard coded these parameters into the strategy. All you need to do is flick between the pairs - the strategy will then identify the pair you are on and change the parameters to suit in the background.
Whilst a trade is open, the strategy will convert all candles to the relevant colour - Green for an uptrend and Red for a downtrend (all customisable).
We find this is helpful for traders psychology - not getting 'spooked' by other candle colours, affecting your decision making.
When a new signal is valid, 'POW BUY' or 'POW SELL' will be displayed on the first candle open for entry. As well as this, you will also have the trade label print which will display the following;
- EP – Entry price
- SL – Stop loss
- TP – Take Profit
- Lot size
The trade information printed will also tell you the pip values of your stop loss and take profit based on how far away they are from the trade entry price.
The lot size printed is customisable and unique to your account- within the strategy settings you can simply input your account balance, currency and risk approach which includes a fixed risk amount, fixed lot size or a fixed percentage.
This removes the need for 3rd party apps or websites to quickly calculate your specific risk on your trade. Thus saving you time and making sure you aren't 'guessing' with your lot size.
No one likes losing more than they thought.
The progress and initial challenges....
To start, our first version simply showed the buy and sell arrows when a trade was valid. However, this caused subjectivity with where we would place our stop loss and how we would manage the exit of the trade once we were in it. So, we identified a solid strategy for this was incorporating the Average True Range (ATR) for SL and TP options.
I was especially keen to add the SL and exit management so I could obtain solid back testing data to support my thoughts that 'this works'. Every trader requires confidence and belief in their strategy, without it you simply won't succeed or be disciplined in your execution.
The other challenge we all face is calculating the lot sizes of our trades right? So, it was important that we incorporated a lot size calculator - its all about making it easy when a trade is valid to enter without trying to calculate this accurately.
Lastly, when pairs are stuck in a range - this can be a testing period of 'chop' for a trend strategy, so we also incorporated the ADX function to enable us to set a threshold level to identify when the instrument is more likely to be trending.
What does it do?
Ultimately, tells you when to buy and sell - where to place your SL and when to exit. Whilst also ensuring your risk management is on point, by displaying your trading lot size. Also providing you with live back tested data at your finger tips thank you to the strategy tester.
How does it work?
This will be visible on your trading view charts once you get access. And will work across all your devices, the trading view website or the app on your phone for example.
You can also use Trading View alerts, so you won't miss a trade and can go about your day as normal without watching the screen. This will work on the Free version of TV, however, in order to benefit from more alerts and templates it makes sense to upgrade to a higher package.
How can it help you?
This will help give you a mechanical approach to your trading. This means, less decision making on your part, with the instant benefit of seeing the data you have at your fingertips thanks to the 'Strategy Tester' TV Function.
It will save you time, you don't need to be in front of your screen or completing any subjective analysis.
Integrated lot size calculator can ensure you are always accurate with your risk - either in percentage or a fixed amount of risk - whichever you prefer.
Understand Probability - this is the key one for me. Losing runs happen in any trading strategy. The great benefit here, is you can see them. How long were the losing runs? How can I prepare and plan my risk management around them are all fundamental keys to managing your emotions and being detached from your trades. No one wants to feel stressed or anxious when trading.
Customisable exit strategies - A specific TP for a 1:1 RR or 1:10 RR for example can be adjusted and you can see instantly how this affects the profitability.
The exit strategy options are shown below;
TP 1/2/3
FT - Follow Trend (no stop loss and follow's from Buys to Sells, Sell to Buy, etc.
SL + FT - SL present, but trade is held until a reverse signal is presented.
How good is it?
We have some really positive back testing data across a range of pairs and markets - equities and indices too.
Drop me a DM to see these and I'll be happy to share.
Below let me show you a screen shot of how this can work for you.
How do you access this?
Please visit our website for signup / purchase information in the first instance (the link is on our trading view signature) or send us a private message on here - its impossible to keep track of comments on our posts so to ensure we don't miss you, a private DM will be great please.
The Back test shown on this example is based on the Trading View mid price and also a realistic starting Capital of £10,000. This test result is also based on a 0.1% risk per trade, with a 5 tick spread and a commission of
Regards
Darren
Disclaimer alert.
Please remember past performance is exactly that - how our strategy performed over those dates tested, it is not obviously a guarantee of future performance. Most of our H1 data is valid from Jan 2017 to now - so 4+ years and data on 650+ trades per pair.
Blue FX Trend StrategyHi, welcome to the Blue FX Trend Strategy Script.
What does it do?
Our strategy will help you identify the current trend in the markets and highlight when this is changing. The strategy itself is based upon 4 indicators lining up in total confluence to increase the probability of the trade being a success, this is specifically an EMA, MACD settings, Supertrend criteria and also Momentum.
Absolutely no technical analysis is needed to trade this successfully - this can be used on all time frames and all pairs - obviously with varying profitability as all pairs work differently - this can be reviewed quickly in 'Strategy Tester' to hone in on your own desired settings.
When all criteria is in alignment the strategy will convert all candles to the relevant colour - Green for an uptrend and Red for a downtrend; a candle that is printed normally simply shows that no current trend is in place to warrant a colour change. A normal coloured candle could possibly indicate a change in current market direction or the market consolidating before a further move in the initial direction. When a new signal is valid 'Blue FX Buy'' or 'Blue FX Sell' will be displayed and the small arrow shown on candle open for entry.
How do I use it?
Our strategy is invite only - upon joining our group we will allow you access to the script. This will then simply display on your device ready for you to start trading from. There is substantial functionality within the strategy, you can;
See the success of the default settings in the past using the 'Strategy Tester' Function for numerous settings
1. Following the settings 'Trail'
2. Changing your TP function with the other criteria listed
3. Using a Fixed TP or SL function
Upon changing the Script to 'Fixed' you will see numerous trades on the chart displayed differently.
Scaling into a profitable position is also possible - this is ideally done when the candle colour confirms the trend is continuing after rejection/support from the EMA; we show this below;
You could also enter here if you missed the initial sell signal, we have MA rejection and a red printed candle indicating all confluences are in play and we have high probability for the move to continue.
How do I know its profitable?
We have built numerous customisable settings into the strategy for you to see that this is profitable - you can visually see this too. The settings are also customisable to find the right criteria for the right pair on the right time-frame. Ultimately, with the strategy confluences in place, you are putting probability in your favour and can quickly determine the trend in place if there is one. Within the customisable settings there is a compound function too, so if you were to compound your profit the results can be exceptional.
We have also added an H4 confluence, so you can ensure if trading on a lower time-frame you are in the overall direction of the H4 trend too, a useful setting for more confluence again.
Where do I set my Stop loss or Take Profit?
There is no right or wrong to this and we have attempted to build numerous ways of doing this into the strategy for reference.
For setting a SL you could;
1. Use a fixed SL.
2. Place the SL below the last high or low in the trend.
3. Use an ATR function.
4. Place the SL 5 pips below the last 3 candles.
5. Or, trail the price if you are on screen until the next signal is given and a new trend starts - although unless a big trend, you may miss out on some profit by the time price has pulled back.
For placing a Take Profit, you could;
1. Use a fixed TP.
2. Look for the next supply/demand area on the chart (if it breaks and candle colour supports direction - you could enter again).
3. Use an ATR function.
5. Or, trail the price if you are on screen until the next signal is given and a new trend starts - although unless a big trend, you may miss out on some profit by the time price has pulled back.
6. Secure multiple TPs - 20/50/100 pips with Stop loss to entry after the first target is hit.
Here are some examples of the Buy and Sell signals in action;
Will also work on Commodities and Indices as shown below too;
Our recommended visual settings are below;
1. Set to'Trail' Strategy
2. Under 'Style' tab, select Trades on Chart, but un-select both Signal Labels and Quantity to clean up the chart - these settings are useful when testing to see where the trades are opened and closed.
3. We like the candles changing colour to the trend and criteria set however, these can be turned off to display normal bullish and bearish candles.
When reviewing profitability you can do this by selecting 'Overview' 'Performance Summary' and 'List of Trades'.
Please consider that the settings based into the strategy could differ to your own money management rules and your management of your SL and TP as outlined above - we have tried to cover as many bases as possible here.
We look forward to you using this strategy to profit from the market, please share your feedback and results with us.
Kind regards
Blue FX Team
Profit-sync with Trexen StratThere are various scripts and indicators on Tradingview, but not many of them combine theories to improve the profitability of an indicator using settings from multiple time frames.
This script takes the Average True Range trailing exit idea to enter trades. Many other ideas have been tested to filter entry signals which may be weak or not profitable such as a second ATR with Higher TF, MFI/VFI, RSI , Momentum wavetrend, Weis Wave, MACD , Stochastic etc, but I felt the following works best:
- Over the ATR entries there is a directional filter very similar to Renko candles which can be set to a higher time frame, I use 4 hour with 15 min candles for example, this will only allow 15 min buy signals to execute if the 4 hour is also on the buy side.
- There is also a Trend directional filter which can be set to a higher/lower time frame, currently I am using this on allow setting to allow more trades
The higher both filter are, the more accurate the trades will be, but less frequent. The filters convert entry signals into exit signal which can be used as take profit point with alerts if there is a position open.
The overall theory is to follow trend and to exit with profit. I have tested different take profit alerts but think it’s better to either catch a whole price move or sell with a set trailing limit order at like 0.4/0.5%.
As I am trading BTC with a bot and not with TA I think it is good to get in on a trend reversal, follow the trend up and get out quick with profit. There is a lot of manipulation with crypto so things like Momentum indicators and money-flow may not represent what is actually happening in the market.
Trend Scalping Strategy - ForexHi all,
I have created the attached strategy for my own use primarily but thought I would share it as my experience to date is that it is profitable in particular circumstances, so thought I would open this out to the community to see if it can be successfully applied on any other pairs and timeframes.
I have protected the source code at this time - mainly because it needs massive tidying up! If I ever get time to do this then I will
The concept of the strategy is based upon the slingshot method - the strategy fundamentally does the following:
- Tests each candle for a new short term trend based upon EMAs
- If there is a new trend, check the RSI and ensure it isnt above the upper RSI threshold (for long positions) and below the lower RSI threshold (for short positions)
- If it passes the RSI check, entry is valid and draws a bar on the chart to show the opening entry position, stop loss position, take profit 1 and take profit 2 positions.
I have backtested this across 28 pairs on the M15 timeframe, comprising of a total of 140,000 candles (35,000 hours of trading). Across this period, 18 of the 28 pairs I looked at were profitable, with overall significant profit if live traded across the 28.
I have live tested 5 pairs on the same timeframe:
- GBPJPY
- GBPUSD
- GBPEUR
- CADJPY
- EURJPY
These pairs have to date given a rough ROR (Return on Risk) position of approx 60% average per trade.
All of the above has been done with the following inputs:
- RSI Upper - 68
- RSI Lower - 32
- Stop Loss - 0.0015
- TP1 - 0.002
- TP2 - 0.004
The SL and TPs are based on a decimal entry of a percentage movement - i.e. the Stop loss above reflects a 0.15% movement, etc etc. Obviously if this were to be tested on longer time frames it is likely that these would need to be larger figures.
I have also tested this live with great success on the S&P 500 and the FTSE, with the following settings:
Indicator Timeframe TP1 TP2 SL Upper Lower
FTSE M5 0.0015 0.004 0.001 70 30
SPX M5 0.0015 0.004 0.001 75 35
Three key notes on trading this below - THESE ARE VERY IMPORTANT!
- This is NOT a high strike rate strategy. Strike rate on profitable pairs is between approx 45 and 55% (although I have seen as low as 35% and still seen significant profit). This has two natural conclusions - risk management is VITAL (I risk 0.5% on each trade, but this may in fact be high for this strategy), and be prepared for potentially significant drawdowns. I have seen certainly drawdowns of 20 consecutive losing trades (counting TP1 and TP2 as 2 trades) and probably longer, which obviously means drawdowns of 10% or greater. The other thing to bear in mind is that with this kind of strike rate, you shouldnt be setting TP1 at a 1:1 risk reward or lower.
- Take Profit 1 is easy - straight Stop and Limit orders. Take Profit 2 is a trailing stop with a start point of the limit for TP1, with then a trailing stop of this distance. This means that should you win on TP1, TP2 is a risk free trade but also trails in for profit if TP2 isnt reached (which it normally isnt). DO NOT set TP2 as a standard stop and limit, this rapidly makes this strategy unprofitable. The point here is that if you reach TP1 you are in some form of trend where you want to capture as much profit as you can.
- Do not enter a trade mid candle. The strategy is based upon the close of the trending candle not the "live" price during this candle, so no need to rush into a trade. If you enter mid candle you will find more often than not that the indicator wasnt for a valid trade by the candle close.
Also, standard disclaimer - past performance is no guarantee of future performance, and if you choose to use this strategy/indicator you do so 100% at your own risk. As a minimum, pick your pairs carefully - I have found particular unprofitability with this strategy with the AUD and NZD pairs so I have ruled these out completely at present, although with different timeframes and inputs these may of course be profitable.
I hope this is helpful for someone...I'd welcome any feedback or other setups where this is profitable.
Moving forward, I want to do some more work on this strategy to rule out some of the more negative trades, and I primarily intend to do this using pivots - however this will be an as and when I get chance.
EMA 34 Crossover with Break Even Stop LossEMA 34 Crossover with Break Even Stop Loss Strategy
This trading strategy is based on the 34-period Exponential Moving Average (EMA) and aims to enter long positions when the price crosses above the EMA 34. The strategy is designed to manage risk effectively with a dynamic stop loss and take-profit mechanism.
Key Features:
EMA 34 Crossover:
The strategy generates a long entry signal when the closing price of the current bar crosses above the 34-period EMA, with the condition that the previous closing price was below the EMA. This crossover indicates a potential upward trend.
Risk Management:
Upon entering a trade, the strategy sets a stop loss at the low of the previous bar. This helps in controlling the downside risk.
A take profit level is set at a 10:1 risk-to-reward ratio, meaning the potential profit is ten times the amount risked on the trade.
Break-even Stop Loss:
As the price moves in favor of the trade and reaches a 3:1 risk-to-reward ratio, the strategy moves the stop loss to the entry price (break-even). This ensures that no loss will be incurred if the market reverses, effectively protecting profits.
Exit Conditions:
The strategy exits the trade when either the stop loss is hit (if the price drops below the stop loss level) or the take profit target is reached (if the price rises to the take profit level).
If the price reaches the break-even level (entry price), the stop loss is adjusted to lock in profits and prevent any loss.
Visualization:
The stop loss and take profit levels are plotted on the chart for easy visualization, helping traders track the status of their trade.
Trade Management Summary:
Long Entry: When price crosses above the 34-period EMA.
Stop Loss: Set to the low of the previous candle.
Take Profit: Set to a 10:1 risk-to-reward ratio.
Break-even: Stop loss is moved to entry price when a 3:1 risk-to-reward ratio is reached.
Exit: The trade is closed either when the stop loss or take profit levels are hit.
This strategy is designed to minimize losses by employing a dynamic stop loss and to maximize gains by setting a favorable risk-to-reward ratio, making it suitable for traders who prefer a structured, automated approach to risk management and trend-following.
Profit Trailing BBandsProfit Trailing Trend BBands v4.7.5 with Double Trailing SL
A TradingView Pine Script Strategy
Created by Kevin Bourn and refined with the help of Grok 3 (xAI)
Overview
Welcome to Profit Trailing Trend BBands v4.7.5, a dynamic trading strategy designed to ride trends and lock in profits with a unique double trailing stop-loss mechanism. Built for TradingView’s Pine Script v6, this strategy combines Bollinger Bands for trend detection with a smart trailing system that doubles down on profit protection. Whether you’re trading XRP or any other asset, this tool aims to maximize gains while keeping risk in check—all with a clean, visual interface.
What It Does
Identifies Trends: Uses Bollinger Bands to spot uptrends (price crossing above the upper band) and downtrends (price crossing below the lower band).
Enters Positions: Opens long or short trades based on trend signals, with customizable position sizing and leverage.
Trails Profits: Employs a two-stage trailing stop-loss:
Initial Trailing SL: Acts as a take-profit level, set as a percentage (%) or dollar ($) distance from the entry price.
Tightened Trailing SL: Once the initial profit target is hit, the stop-loss tightens to half the initial distance, locking in gains as the trend continues.
Manages Risk: Includes a margin call feature to exit losing positions before they blow up your account.
Visualizes Everything: Plots Bollinger Bands (blue upper, orange lower) and a red stepped trailing stop-loss line for easy tracking.
Why Built It?
Captures Trends: Bollinger Bands are a proven way to catch momentum, and we tuned them for responsiveness (short length, moderate multiplier).
Secures Profits: Traditional trailing stops often leave money on the table or exit too early. The double trailing SL first takes a chunk of profit, then tightens up to ride the rest of the move.
Stays Flexible: Traders can tweak price sources, stop-loss types (% or $), and position sizing to fit their style.
Looks Good: Clear visuals help you see the strategy in action without cluttering your chart.
Originally refined for XRP, it’s versatile enough for most markets — crypto, forex, stocks, you name it.
How It Works
Core Components
Bollinger Bands:
Calculated using a simple moving average (SMA) and standard deviation.
Default settings: 6-period length, 1.66 multiplier.
Upper Band (blue): SMA + (1.66 × StdDev).
Lower Band (orange): SMA - (1.66 × StdDev).
Trend signals: Price crossing above the upper band triggers a long, below the lower band triggers a short.
Double Trailing Stop-Loss:
Initial SL: Set via "Trailing Stop-Loss Value" (default 6% or $6). Trails the price at this distance and doubles as the first profit target.
Tightened SL: Once price hits the initial SL distance in profit (e.g., +6%), the SL tightens to half (e.g., 3%) and continues trailing, locking in gains.
Visualized as a red stepped line, only visible during active positions.
Position Sizing:
Choose "% of Equity" (default 30%) or "Amount in $" to set trade size.
Leverage (default 10x) amplifies positions, capped by available equity to avoid overexposure.
Margin Call:
Exits positions if drawdown exceeds the "Margin %" (default 10%) to protect your account.
Backtesting Filter:
Starts trading after a user-defined date (default: Jan 1, 2020) for focused historical analysis.
Trade Logic
Long Entry: Price crosses above the upper Bollinger Band → Closes any short position, opens a long.
Short Entry: Price crosses below the lower Bollinger Band → Closes any long position, opens a short.
Exit: Position closes when price hits the trailing stop-loss or triggers a margin call.
How to Use It
Setup
Add to TradingView:
Open TradingView, go to the Pine Editor, paste the script, and click "Add to Chart."
Ensure you’re using Pine Script v6 (the script includes @version=6).
Configure Inputs:
Start Date for Backtesting: Set the date to begin historical testing (default: Jan 1, 2020).
BB Length & Mult: Adjust Bollinger Band sensitivity (default: 6, 1.66).
BB Price Source: Choose the price for BBands (default: Close).
Trend Price Source: Choose the price for trend detection (default: Close).
Trailing Stop-Loss Type: Pick "%" or "$" (default: Trailing SL %).
Trailing Stop-Loss Value: Set the initial SL distance (default: 6).
Margin %: Define the max drawdown before exit (default: 10%).
Order Size Type & Value: Set position size as % of equity (default: 30%) or $ amount.
Leverage: Adjust leverage (default: 10x).
Run It:
Use the Strategy Tester tab to backtest on your chosen asset and timeframe.
Watch the chart for blue/orange Bollinger Bands and the red trailing SL line.
Tips for Traders
Timeframes: Works on any timeframe, but test 1H or 4H for XRP—great balance of signals and noise.
Assets: Optimized for XRP, but tweak slValue and mult for other markets (e.g., tighter SL for low-volatility pairs).
Risk Management: Keep marginPercent low (5-10%) for volatile assets; adjust leverage based on your risk tolerance.
Visuals: The red stepped SL line shows only during trades—zoom in to see its tightening in action.
Visuals on the Chart
Blue Line: Upper Bollinger Band (trend entry for longs).
Orange Line: Lower Bollinger Band (trend entry for shorts).
Red Stepped Line: Trailing Stop-Loss (shifts tighter after the first profit target).
Order Labels: Short tags like "OL" (Open Long), "CS" (Close Short), "LSL" (Long Stop-Loss), etc., mark trades.
Disclaimer
Trading involves risk. This strategy is for educational and experimental use—backtest thoroughly and use at your own risk. Past performance doesn’t guarantee future results. Not financial advice—just a tool from traders, for traders.
Enhanced Bollinger Bands Strategy with SL/TP// Title: Enhanced Bollinger Bands Strategy with SL/TP
// Description:
// This strategy is based on the classic Bollinger Bands indicator and incorporates Stop Loss (SL) and Take Profit (TP) levels for automated trading. It identifies potential long and short entry points based on price crossing the lower and upper Bollinger Bands, respectively. The strategy allows users to customize several parameters to suit different market conditions and risk tolerances.
// Key Features:
// * **Bollinger Bands:** Uses Simple Moving Average (SMA) as the basis and calculates upper and lower bands based on a user-defined standard deviation multiplier.
// * **Customizable Parameters:** Offers extensive customization, including SMA length, standard deviation multiplier, Stop Loss (SL) in pips, and Take Profit (TP) in pips.
// * **Long/Short Position Control:** Allows users to independently enable or disable long and short positions.
// * **Stop Loss and Take Profit:** Implements Stop Loss and Take Profit levels based on pip values to manage risk and secure profits. Entry prices are set to the band levels on signals.
// * **Visualizations:** Provides options to display Bollinger Bands and entry signals on the chart for easy analysis.
// Strategy Logic:
// 1. **Bollinger Bands Calculation:** The strategy calculates the Bollinger Bands using the specified SMA length and standard deviation multiplier.
// 2. **Entry Conditions:**
// * **Long Entry:** Enters a long position when the closing price crosses above the lower Bollinger Band and the `Enable Long Positions` setting is enabled.
// * **Short Entry:** Enters a short position when the closing price crosses below the upper Bollinger Band and the `Enable Short Positions` setting is enabled.
// 3. **Exit Conditions:**
// * **Stop Loss:** Exits the position if the price reaches the Stop Loss level, calculated based on the input `Stop Loss (Pips)`.
// * **Take Profit:** Exits the position if the price reaches the Take Profit level, calculated based on the input `Take Profit (Pips)`.
// Input Parameters:
// * **SMA Length (length):** The length of the Simple Moving Average used to calculate the Bollinger Bands (default: 20).
// * **Standard Deviation Multiplier (mult):** The multiplier applied to the standard deviation to determine the width of the Bollinger Bands (default: 2.0).
// * **Enable Long Positions (enableLong):** A boolean value to enable or disable long positions (default: true).
// * **Enable Short Positions (enableShort):** A boolean value to enable or disable short positions (default: true).
// * **Pip Value (pipValue):** The value of a pip for the traded instrument. This is crucial for accurate Stop Loss and Take Profit calculations (default: 0.0001 for most currency pairs). **Important: Adjust this value to match the specific instrument you are trading.**
// * **Stop Loss (Pips) (slPips):** The Stop Loss level in pips (default: 10).
// * **Take Profit (Pips) (tpPips):** The Take Profit level in pips (default: 20).
// * **Show Bollinger Bands (showBands):** A boolean value to show or hide the Bollinger Bands on the chart (default: true).
// * **Show Entry Signals (showSignals):** A boolean value to show or hide entry signals on the chart (default: true).
// How to Use:
// 1. Add the strategy to your TradingView chart.
// 2. Adjust the input parameters to optimize the strategy for your chosen instrument and timeframe. Pay close attention to the `Pip Value`.
// 3. Backtest the strategy over different periods to evaluate its performance.
// 4. Use the `Enable Long Positions` and `Enable Short Positions` settings to customize the strategy for specific market conditions (e.g., only long positions in an uptrend).
// Important Notes and Disclaimers:
// * **Backtesting Results:** Past performance is not indicative of future results. Backtesting results can be affected by various factors, including market volatility, slippage, and transaction costs.
// * **Risk Management:** This strategy is provided for informational and educational purposes only and should not be considered financial advice. Always use proper risk management techniques when trading. Adjust Stop Loss and Take Profit levels according to your risk tolerance.
// * **Slippage:** The strategy takes into account slippage by specifying a slippage parameter on the `strategy` declaration. However, real-world slippage may vary.
// * **Market Conditions:** The performance of this strategy can vary significantly depending on market conditions. It may perform well in trending markets but poorly in ranging or choppy markets.
// * **Pip Value Accuracy:** **Ensure the `Pip Value` is correctly set for the specific instrument you are trading. Incorrect pip value will result in incorrect stop loss and take profit placement.** This is critical.
// * **Broker Compatibility:** The strategy's performance may vary depending on your broker's execution policies and fees.
// * **Disclaimer:** I am not a financial advisor, and this script is not financial advice. Use this strategy at your own risk. I am not responsible for any losses incurred while using this strategy.
Altcoins DCA ScalperIntroduction
The Altcoins DCA Scalper is a Pine Strategy Script designed to automate Altcoins trading through 3Commas integration. It implements a Dollar-Cost Averaging (DCA) strategy that expands upon 3Commas' standard DCA capabilities, helping to manage risk while trading both long and short positions automatically.
This tool aims to assist both beginners exploring automated trading and experienced 3Commas users seeking dynamic DCA automation. The script is specifically designed for the 1-minute timeframe , where it has shown a good balance between performance and risk management. Complete setup typically takes less than 10 minutes, with a detailed guide making configuration straightforward for users of all experience levels.
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🔶 What is DCA?
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Dollar-cost averaging (DCA) refers to the practice of gradually increasing your position size at lower prices when trading long, or at higher prices when trading short, to achieve a better average entry price if the market moves against the initial entry . Instead of investing all capital at once, which could result in a significant drawdown if the price moves unfavorably, DCA spreads entries across different price levels to help manage potential drawdowns as they occur.
In this script, DCA is implemented through a system that:
🔹 Triggers safety orders only when/if needed (if take profit isn't reached quickly)
🔹 Dynamically adjusts order sizing based on market volatility
🔹 Automatically reduces take profit targets after each DCA order to increase the likelihood of a positive outcome
🔹 Can handle drawdowns depending on market volatility and settings
The images below illustrate two scenarios: one where an entry reaches the take profit directly, without activating DCA orders, and another where DCA is utilized, with the order closing positively after two DCA orders.
Case 1: Order closes in profit after entry
Case 2: Order closes in profit after 2 DCA orders (dynamically placed based on trend and volatility)
This DCA implementation aims to enhance standard 3Commas DCA by adding market-adaptive features while maintaining risk management principles.
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🔶 Could this strategy script benefit you?
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This script may be helpful if you are:
✅ Looking to automate your trading through 3Commas integration while maintaining full control of your assets
✅ Wanting to enhance 3Commas' standard DCA with market-adaptive features that consider:
Multi-timeframe trend analysis
Real-time volatility assessment
Dynamic safety order sizing and timing
✅ Seeking to minimize chart monitoring through full automation of:
Entry and exit decisions
Safety order management
Risk controls
✅ Interested in comprehensive performance tracking with:
Real-time position metrics
Detailed backtesting capabilities
Risk/reward analysis
Backtesting Metrics (script performance over the backtesting period - which is approx. 15 days on the 1min timeframe with the TradingView Pro Plan):
Current/Open Deal Metrics (the deal is currently under DCA, and waiting for further actions to close):
✅ Looking for trading automation that remains easy to set up and use
Note: While this script provides trading automation, successful trading requires proper education, risk management, and regular performance monitoring. No automated tool can guarantee trading success or profits.
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🔶 How it Works
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The Altcoins DCA Scalper provides trading automation through:
Market Analysis
* Multi-timeframe trend analysis (1m to 1d) for market direction and entry validation
* Volatility assessment (1h, 4h, 24h) benchmarked against TOTAL3 (excluding Top10 Altcoins and Stablecoins)
* Real-time adjustment of DCA parameters based on:
* Current volatility class (low/medium/high) vs. overall Altcoins market
* Market trend strength
* Price action dynamics
Trading Execution
* Position opening aligned with detected market trends
* "Beast Mode" base order sizing that increases position size during strong trends
* Dynamic take-profit targets that automatically reduce after each safety order to increase the likelihood of positive exits
* Dynamic DCA with safety orders that can:
* Adapt timing based on volatility
* Scale order sizes based on market conditions
* Handle 30-50% drawdowns depending on volatility class
* Execute up to 6 safety orders per position
Risk Management
* Emergency exits during extreme market events:
* "Black Swan" protection for long positions
* "God-Candle" protection for short positions
* Configurable stop-loss with volatility-based placement
* Trend-switch management with automated position reversal
* Position aging controls to prevent capital lock-up
* Leveraged trading protection with a pre-liquidation exit system
Integration & Automation
* Quick setup with two 3Commas bots (typically under 10 minutes)
* Fully automated signal generation and execution through 3Commas
* Detailed performance tracking including:
* Real-time position metrics
* DCA depth analysis
* Win rate and ROE calculations
* Pre-configured settings optimized for most pairs
* Multiple customization options for experienced users
Note: While this strategy employs automation and risk management, trading always carries the risk of loss. No system can guarantee profits, and market conditions significantly impact performance. Always do your own research and monitor your positions closely.
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How to Use
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Setting up the Altcoins DCA Scalper is quick and facilitated by the User Interface:
1️⃣ 3Commas/TradingView Setup
* Create two 3Commas accounts if using the FREE plan:
* One account for Long Bot
* One account for Short Bot
* This split allows full functionality while staying within 3Commas' free tier limits
* You do not need two separate accounts if you have a Paid 3Commas subscription
* While a free TradingView account works with the script, it limits you to one trading pair and a 4-day backtesting history. A paid TradingView subscription removes these limitations (such as the "Essential" plan).
2️⃣ Bot Configuration
* Create one Long and one Short DCA Bot in 3Commas
* Follow the setup guide available in the script itself for hassle-free configuration
* Copy Bot IDs and Email Token for script connection
* No complex settings needed - the script manages all DCA parameters by itself
3️⃣ Script Implementation
* Apply the script to your TradingView charts
* Use the built-in backtesting to analyze performance on different pairs
* Focus on USDT.P futures pairs with good volatility
4️⃣ Trading Activation
* Create TradingView alerts for each trading pair you want to activate
* Example: Set an alert for BINANCE: XRPUSDT.P following the in-script guide
* The script automatically manages all aspects:
* Entry and exit decisions
* DCA execution
* Risk management
* Position monitoring
Capital Requirements
* Important: Ensure sufficient capital to cover all activated pairs
* Consider volatility class when allocating capital to specific pairs
Once setup is complete, the script operates fully automatically while you maintain complete control of your funds through 3Commas and your exchange.
Note: While the setup is straightforward, always start with a small number of pairs and monitor performance before expanding. Trade responsibly and never risk more than you can afford to lose.
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Explaining the Settings
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The Altcoins DCA Scalper offers mulitple customization options during the setup process. All settings include detailed tooltips and default values.
Core Settings Sections:
1️⃣ 3Commas Connection
* Bot IDs and Email Token configuration
* Leverage settings (1x to 5x supported)
* Detailed 3Commas bot setup guide included
* Automatic bot control configuration
2️⃣ Trading Parameters
* Capital allocation per trade
* Timeframe verification
* Alert system setup
* Backtesting period control
* Performance tracking preferences
3️⃣ Advanced Features
🔹 Risk Management Suite
* Emergency exit controls (to strengthen protection against extraordinary market events)
* Customizable stop-loss system
* Trend-based exit management
* Position aging controls
* Liquidation protection features
* Advanced DCA controls
🔹 Performance Analytics
* Real-time position monitoring
* Comprehensive backtesting metrics
* DCA depth analysis
* Win rate calculations
* Capital efficiency tracking
🔹 Technical Optimizations
* Exchange minimum order adjustment
* Trading pair name override capability
* System stability controls
* Error handling mechanisms
🔹 Interface Customization
* Theme selection
* Chart overlay options
* Warning display preferences
* Performance metrics visibility
All settings come pre-configured but can be fully customized based on your trading preferences and risk tolerance. The script includes tooltips and setup guides for each option.
Note: While default settings may be tested, market conditions vary and all trading involves risk. Monitor performance and adjust settings according to your risk management requirements.
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Frequently Asked Questions
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Here are some common questions you may have, and our answers:
❓ Is this tool only for experts? I'm new to algo trading, can I use it?
No, the Altcoins DCA Scalper could be used by both beginners and experienced traders. The setup process is guided, and the algorithm handles all the calculations in the background.
❓ I'm not familiar with 3Commas. Is that a problem?
While the script is designed to work with 3Commas, a step-by-step guide is provided within the script to help you set up your 3Commas accounts and bots, if needed.
❓ Do I need to constantly monitor the script after it's set up?
No, after the initial setup and configuration, the script operates autonomously. It handles all aspects of trading including entries, exits, DCA management, and risk controls. However, we recommend:
* Checking performance metrics daily
* Reviewing position statistics weekly
* Adjusting pair selection monthly based on performance
* Monitoring overall market conditions that might require adjustments
❓ Can I use it with leverage?
Yes, the script is designed to work with leverage up to 5x on perpetual futures pairs (USDT.P). It includes specific features for leveraged trading:
* Dynamic safety order placement based on distance to liquidation
* Pre-liquidation exit system to minimize exchange fees
* Adjustable take-profit targets optimized for leveraged positions
* Emergency exit system for extreme market movements
* Optional risk controls specific to leverage:
* Automatic exit in the liquidation danger zone
* Position size scaling based on leverage level
* Safety order adjustments for different leverage settings
While leverage can amplify returns, it also increases risk. We recommend starting with lower leverage (2x), or no leverage at all, until familiar with the script's operation.
❓ Does this script guarantee profits?
No, no script or trading strategy can guarantee profits. The Altcoins DCA Scalper provides a framework for implementing an automated DCA strategy, but your success will depend on many different factors and conditions.
❓ Do I need to understand the complex algorithms used in the script?
No, it’s not necessary. The logic is handled by the script, and you do not need to understand every detail to use it effectively. However, a basic knowledge of DCA concepts will be beneficial.
❓ Can I use this script with spot or leveraged trades?
The script is optimized for USDT.P pairs (perpetual futures) with leverage up to 5x. This allows:
* Automatic long/short position management
* Increased capital utilization
* Full DCA functionality without holding the underlying assets
* Enhanced risk management features specific to futures
While spot trading is possible, it requires holding underlying assets for shorts and doesn't access the script's full capabilities.
❓What timeframe should I use?
This script is optimized for the 1-minute timeframe , which is the recommended setting for the best balance between performance, capital efficiency, and risk. While we recommend using the tool on the 1 minute TF, it would work on other timeframes too.
❓ What happens if my internet/computer goes down?
Since the script sends signals from Tradingview to 3Commas (which executes trades on your exchange), your positions and DCA management continue to function even if your TradingView chart is closed or your computer is off. The script only needs to be active to generate new signals.
❓ How are the DCA parameters determined?
The script dynamically adjusts DCA parameters based on:
* The pair's volatility class (compared to the overall altcoin market)
* Current market conditions and volatility
* Position direction (long/short)
* Leverage settings
* Number of safety orders already executed
This allows for adaptive/dynamic DCA compared to static or %-based parameters.
❓ What exchanges are supported?
The script works with any exchange supported by 3Commas for futures trading (approximately 15 different crypto Exchanges). However, it's optimized for Binance Futures (USDT.P pairs) due to its high liquidity and for consistency.
❓ What happens during extreme market conditions?
The script includes some (optional) protective measures that can be activated:
* Emergency exits during sharp and abnormal market moves
* Automatic adjustment of DCA parameters during high volatility
* Position closure on significant trend changes
* Special handling of aged positions
These features aim to protect capital during unusual market conditions.
❓How many pairs can I trade simultaneously?
This depends on your total capital. As a general indication, define the number of pairs to activate based on:
* Total available capital
* Desired position size per pair
* Risk tolerance
* Pairs' volatility class
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Final Thoughts
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We believe that your trading performance will greatly depend on your selection of appropriate trading pairs for this script (high volatility), and your commitment to regularly monitoring its performance and adjust the settings, rather than on the script alone.
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⚠️ Risk Disclaimer
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Remember that trading involves risk, and most day traders experience losses. This script is for educational and informational purposes only. Past performance does not guarantee future results. This is not financial advice, and you should always do your own research (DYOR). Trade responsibly with capital you can afford to lose.
The Altcoins DCA Scalper is an independent tool and is not endorsed, connected, or validated by TradingView.
3Commas is a third-party service, and TradingView is not responsible for the 3Commas integration or the performance of 3Commas bots. You are solely responsible for the security and management of your 3Commas account. Do not share your 3Commas access credentials (like login information, Bots-ID, Email Token) with anyone. The Author of the script has no access to such information, and nobody (but you) should.
Dynamic Support and Resistance Pivot Strategy The Dynamic Support and Resistance Pivot Strategy is a flexible and adaptive tool designed to identify short-term support and resistance levels using the concept of price pivots.
### Key Elements of the Strategy
1. Pivot points as support and resistance levels
Pivots are significant turning points on the price chart, often marking local highs and lows where the price has reversed direction. A pivot high occurs when the price forms a local peak, while a pivot low occurs when the price forms a local trough. When a new pivot high is formed, it creates a resistance level. Conversely, when a new pivot low is formed, it creates a support level.
The strategy continuously updates these levels as new pivots are detected, ensuring they remain relevant to the current market conditions. By identifying these price levels, the strategy dynamically adjusts to market conditions, allowing it to adapt to both trending and ranging markets, since it has a long target and can perform reversal operations.
2. Entry Criteria
- Buy (Long): A long position is triggered when the price is near the support level and then crosses it from below to above. This suggests that the price has found support and may start moving upwards.
- Sell (Short): A short position is triggered when the price is near the resistance level and then crosses it from above to below. This indicates that the price may be reversing and moving downward.
3. Support/Resistance distance (%)
- This parameter establishes a percentage range around the identified support and resistance level. For example, if the Support Resistance Distance is 0.4% (default), the closing price must be within a range of 0.4% above support or below the resistance to be considered "close" and trigger a trade.
4. Exit criteria
- Take profit = 27 %
- Stop loss = 10 %
- Reversal if a new entry point is identified in the opposite direction
5. No Repainting
- The Dynamic Support and Resistance Pivot Strategy is not subject to repainting.
6. Position Sizing by Equity and risk management
- This strategy has a default configuration to operate with 35% of the equity. The stop loss is set to 10% from the entry price. This way, the strategy is putting at risk about 10% of 35% of equity, that is, around 3.5% of equity for each trade. The percentage of equity and stop loss can be adjusted by the user according to their risk management.
7. Backtest results
- This strategy was subjected to backtest and operations in replay mode on **1000000MOGUSDT.P**, with the inclusion of transaction fees at 0.12% and slipagge of 5 ticks, and the past results have shown consistent profitability. Past results are no guarantee of future results. The strategy's backtest results may even be due to overfitting with past data.
8. Chart Visualization
- Support and resistance levels are displayed as green (support) and red (resistance) lines.
- Pivot prices are displayed as green (pivot low) and red (pivot high) labels.
In this image above, the Support/Resistance distance (%) parameter was set to 0.8.
9. Default Configuration
Chart Timeframe: 1h
Pivot Lengh: 2
Support/Resistance distance (%): 0.4*
Stop Loss: 10 %
Take Profit: 27 %
* This parameter can alternatively be set to 0.8.
10. Alternative Configuration
Chart Timeframe: 20 min
Pivot Lengh: 4
Support/Resistance distance (%): 0.1
Stop Loss: 10 %
Take Profit: 25 %
BYBIT:1000000MOGUSDT.P
Custom Dual EMA Crossover Strategy with Configurable LogicThis strategy is designed to assist traders in identifying and capitalizing on bullish market trends through a systematic and data-driven approach. It incorporates detailed trend analysis, volatility filtering, and percentage-based thresholds to provide actionable insights and high-confidence trade setups. It leverages the Exponential Moving Average and combines it with custom logic to detect volatility, maximum allowed price movements over last bars and trend confirmation.
Key Features:
- Buy orders follow several conditions, including but not limited to:
a. EMA Crossover: specifically designed to capture immediate market shifts rather than medium- or long-term trends, ensuring responsiveness to rapidly changing conditions but requiring additional confirmations to avoid false signals (see below).
b. Thresholds in Price Changes: Ensures recent price fluctuations remain within specific thresholds, allowing trades to be entered at optimal times and avoiding delayed or unsustainable short-term bullish trends.
c. Adequate Market Volatility: Requires sufficient market activity to avoid false signals stemming from low volatility conditions.
d. Bullish Medium-Term Trend: Validates a bullish medium-term trend using an EMA crossover to avoid trading during bearish market conditions and minimize risk.
- Leverages Take profit and Stop loss levels
- Implements an optional mechanism to automatically close trades after a predefined number of bars, supporting disciplined trade management.
The script does not rely on any public scripts or indicators. Apart the EMA, all the underlying logic, including the volatility thresholds and filtering mechanisms, has been custom developed to ensure originality and precision. The strategy's conditions are all configurable by the user in the TradingView pop-up, allowing it to adapt to different assets and timeframes. For example, users can set the EMA lengths to align with long-term trends for cryptocurrencies or adjust volatility thresholds to account for the specific price movement behavior of stocks or forex pairs.
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Recommendations:
- Identify a crypto asset with potential
- Before live trading, rigorously backtest your strategy on the chosen asset and interval over a period of at least one year*, analyzing results, refining parameters' value and eventually changing timeframe and / or asset.
- Refine your approach until you achieve consistent profitability with a high win rate. Balance the two — a high win rate is great, but only if your profits outweigh your losses in the long term.
- Once successful, remain disciplined and adhere to the parameters that yield the best results. Set up TradingView alerts to trigger real-time actions via your preferred trading bot. Alerts can be set up on the Indicator, which mirrors the strategy's logic and enables users to execute real-time actions effectively. I will provide you access to the Indicator, as well as the Strategy.
* Alternatively, you can apply the strategy to a shorter period for tactical use. While this approach may increase short-term opportunities (e.g. strong bullish short term movements), it also comes with heightened risks.
Use Cases:
- Suitable for traders focusing on bullish or range-bound markets.
- Ideal for short to medium-term trading horizons.
Access and Configuration Support:
This is an invite-only script. For access, please reach out directly for subscription details. I also provide guidance on configuring the strategy with real-world examples to optimize its use for various assets, intervals and timeframes.
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Disclaimer:
This script is a tool to support trading decisions and does not guarantee profitability. Past performance does not indicate future results. Trading carries inherent risks; always trade responsibly and manage risk accordingly.
MACD Aggressive Scalp SimpleComment on the Script
Purpose and Structure:
The script is a scalping strategy based on the MACD indicator combined with EMA (50) as a trend filter.
It uses the MACD histogram's crossover/crossunder of zero to trigger entries and exits, allowing the trader to capitalize on short-term momentum shifts.
The use of strategy.close ensures that positions are closed when specified conditions are met, although adjustments were made to align with Pine Script version 6.
Strengths:
Simplicity and Clarity: The logic is straightforward and focuses on essential scalping principles (momentum-based entries and exits).
Visual Indicators: The plotted MACD line, signal line, and histogram columns provide clear visual feedback for the strategy's operation.
Trend Confirmation: Incorporating the EMA(50) as a trend filter helps avoid trades that go against the prevailing trend, reducing the likelihood of false signals.
Dynamic Exit Conditions: The conditional logic for closing positions based on weakening momentum (via MACD histogram change) is a good way to protect profits or minimize losses.
Potential Improvements:
Parameter Inputs:
Make the MACD (12, 26, 9) and EMA(50) values adjustable by the user through input statements for better customization during backtesting.
Example:
pine
Copy code
macdFast = input(12, title="MACD Fast Length")
macdSlow = input(26, title="MACD Slow Length")
macdSignal = input(9, title="MACD Signal Line Length")
emaLength = input(50, title="EMA Length")
Stop Loss and Take Profit:
The strategy currently lacks explicit stop-loss or take-profit levels, which are critical in a scalping strategy to manage risk and lock in profits.
ATR-based or fixed-percentage exits could be added for better control.
Position Size and Risk Management:
While the script uses 50% of equity per trade, additional options (e.g., fixed position sizes or risk-adjusted sizes) would be beneficial for flexibility.
Avoid Overlapping Signals:
Add logic to prevent overlapping signals (e.g., opening a new position immediately after closing one on the same bar).
Backtesting Optimization:
Consider adding labels or markers (label.new or plotshape) to visualize entry and exit points on the chart for better debugging and analysis.
The inclusion of performance metrics like max drawdown, Sharpe ratio, or profit factor would help assess the strategy's robustness during backtesting.
Compatibility with Live Trading:
The strategy could be further enhanced with alert conditions using alertcondition to notify the trader of buy/sell signals in real-time.
LETF Leveraged Edge Strategy v1.5Overview
The strategy is based on Stochastics to detect trends and then makes Buys and Sell based on custom entry and exit criteria as described below in the Execution Logic Rules section. It will NOT work with standard Stochastics.
This is not a standard Stochastics implementation. It has been customized and modified, and does not match any widely known Stochastics variations (like Fast, Slow, or Full Stochastics) in its smoothing and iterative calculation process with:
• A unique smoothing mechanism.
• Iterative calculations.
• Additional conditional logic for strategy execution.
This strategy is designed to focus on volatile, liquid leveraged ETFs to capture gains equal to or better than Buy and Hold, and mitigate the risk of trading with a goal of reducing drawdown to a lot less than Buy and Hold. It has had successful backtest performance to varying degrees with TQQQ, SOXL, FNGU, TECL, FAS, UPRO, NAIL and SPXL. Results have not been good on other LETFs that have been backtested.
Performance
In this backtest the Net Profit shows to be $4,561 or 45.61%. Considering the initial order size was $1,000 I have to wonder if the Strategy Tester is calculating this correctly. The Strategy Tester Performance Summary shows the Buy and Hold Return at $61,165 or 611.7%. Based on calculating the price of the last shares sold, less the price paid, times the number of initial shares purchased, my math shows the Buy and Hold Gain at $4,572 or about equal with the strategy performance in this case. The Performance Summary also states the strategy had a Max DD of 3.46% which I believe is incorrect. Based on other backtests I’ve done, I believe the strategy drawdown here was closer to 28.4% and the Buy and Hold Drawdown at 82.7%. I manually calculated the Buy and Hold drawdown.
How it Works
The author provides training and support resource materials for this at his website. The strategy execution logic is driven by these rules:
Execution Logic Rules
Buy the LETF When:
BR #1a) The Daily Fast Line (FL) crosses above the Daily Slow Line (SL) and the FL is between the Low (L*) and High (H*) Range set (often referred to as Oversold and Overbought Lines). This can execute (Buy) any trading day of the week.
BR #1b) Re-Buy the next day after any Stop or Take Profit Sell if the Buy Rule condition is true (FL is above SL), if not, remain in cash and wait for the next Buy Signal.
Sell the LETF When:
SR #1a) The Daily Fast Line (FL) crosses below Daily Slow Line (SL) within the Low (L*) and High (H*) Range (often referred to as Oversold and Overbought Lines). “Crossunder Range Exit” This can execute (Sell) any trading day of the week.
SR #1b) If the (FL) crosses Below the SL above the Exit Level*, wait. Only Sell if the FL drops down below the Exit Level* “Crossunder Level Exit” This can execute (Sell) any trading day of the week.
SR #2a) Sell at the open any day the gap-down price is at or below the 1-Day Stop%*, based on previous day’s closing price (Execute on the day it happens.)
SR #2b) Sell intraday any day the price is at or below the 1-Day Stop %*, based on previous day’s closing price (Execute on the day it happens.)
SR #3a) Sell at the open any day the price is at or below the Trailing Stop %*, based on highest intraday price since Buy date (Execute on the day it happens.)
SR #3b) Sell intraday any day the price is at or below the Trailing Stop%*, based on highest intraday price since Buy date (Execute on the day it happens.)
SR #4) Sell any day when the opening price exceeds, or intraday price meets the Profit Target % price* (Execute on the day it happens.)
SR #5) After each Sell go to Rule BR #1b to determine if a Re-Buy should occur the next day, or stay in cash until next Buy Signal
Settings:
Properties Tab – Initial Capital has been set to $10,000 and order size 10% of Equity, 0.1% commission and 3 Ticks for slippage. Net order size is $1,000
Input Tab:
Stochastic
Timeframe is selected to Daily or Weekly based on preference. Daily has more trades, but on average higher profitability.
Type: Proprietary (best selection for most LETFs, but a few will work better with the Full selection
%k Length 20, %K Smoothing 14, %D Smoothing (many LETFs work better with a specific Stoch setting, often each different) A List of these is provided for your starting point.
Trade Settings
Direction: Longs (This strategy only works on the Long side)
Stop Type: Trailing is recommended, but Fixed is an option.
Stop % (based on user risk tolerance)
PD Stop % (Suggest start at 5%. Based on volatility of LETF and is a stop percentage from prior day’s close. Designed to protect against sudden market volatility. Will need to balance between strategy performance and user risk tolerance)
Profit Target: User preference. (I can help with suggestions based on historical performance)
Entry/Exit Conditions
Enter on Tie: Default Checked – if a Fast line crosses a Slow line for a Buy signal, but doesn’t do so in the range set, this will trigger if it crosses at a tie.
Renter – Default Checked – If stopped out of a position, this tells the strategy to re-buy the position the next day if the conditions are still positive.
Exit Level: This is a exit level for a Fast cross below a Slow line that takes place above the Sell Range, but only happens if the Fast continues down to the level set. These usually don’t happen often, but can have a significant impact on performance. Unfortunately, it’s a trial and error process starting with 90 and working down to see if there’s any positive impact.
Trade Range
Buy Range: Start at typical 20 to 80. Expand the low end down first to check on performance impact. Normally a wide buying range is better for performance.
Sell Range: Start at 20 to 80 and tighten gradually to see performance impact. In some cases a very tight sell range does better. I have worked on our primary LETFs for many months to determine ranges for each that typically produce better results.
External Indicator: Some additional indicators have a positive impact on the strategy performance by increasing P/l, reducing drawdown and reducing the number of trades. This is not always the case and each LETF and time period for the LETF will have a bearing on whether the secondary indicator will help or not. Two that have helped are the MACD Histogram, and the Sloe-Velocity Indicator by Kamleshkumar43. Sometimes a couple of different indicators will have a positive impact, then it’s a personal preference which you pick to use with the strategy.
Since this strategy is focused on a very narrow selection of liquid LETFs, I have a lot of experience experimenting with the settings for the primary ones and can suggest things that will help. Additional training on the rules, working with the settings, and mitigating some of the negative trades during choppy markets is available at the website.
Chart
The strategy can be selected to use either a Daily or Weekly version of stochastic. This is important because the characteristics are different while still generating very good gains and minimal drawdowns. Generally, the daily stochastic will have a greater number of, and certainly more frequent, trades than the weekly stochastic. However, on average the daily version of the stochastic will generates greater profitability.
The Settings tabs have tooltip icons that will assist in inputting values that correspond to the written rules for the strategy, and some include specific rule detail.
Buying
The strategy generates Buy signals with the Fast line crossing over the Slow line within a “Buy Range” which is adjusted based on volatility of the leveraged ETF. This is unique in that a default is set for these entries to occur if the values are tied and doesn’t need to be within the high and low range if that occurs. The trader can select in the strategy for this to occur the same day, if he’s selected a Daily Stochastic timeframe, or at the end of the trading week if he’s selected a Weekly stochastic timeframe. The volatility of a leveraged ETF will sometimes cause a shake-out exit, a trailing stop can be hit, or there can be an exit based on taking a profit. A big part of the timing challenge was how to handle these. The strategy normally (set as a default) will immediately re-buy the next day only if the original buy conditions are still true. This helps capture gains when conditions are still favorable but keeps the trader out when they’re not.
Selling
Exits are handled in several ways. The strategy will exit if there is a fast line cross below a slow line within the “range”. The range is adjusted based on volatility of the leveraged ETF. The exit occurs at the close of the day if the trader has selected to use a Daily stochastic setting. The exit will occur at the end of the trading week if the trader has chosen a weekly stochastic strategy. The trader will set a level based on the instrument and volatility for another exit type. The level will sometimes coincide with the range exit high level but does not need to. If a fast line crosses down through a slow line above the level set, and then comes down to that level, the strategy will exit the position.
Another unique aspect of the strategy is the PD Stop setting. This is short for “Prior Day”, Rather than a normal stop based on the price paid for a position, the PD Stop is based on a percentage drop from the previous day’s closing price. This helps account for the volatility of the leveraged ETF and will cause an exit quickly if there’s a market, or index moving event. This helps capture gains and reduce risk should there be continued pullback.
Exits will also occur based on setting a trailing stop level and profit taking level. These are adjusted based on the leveraged ETFs volatility and historical performance.
Limitations
Choppy, or sideways markets are the most prone to poor performance and potential for being stopped out multiple times. If stopped out two consecutive times, make sure you’re monitoring market health and there are clear signs of a new uptrend such as a 10D and 21D MA in proper alignment and moving up. If you get a Buy signal from the strategy and you’re not confident yet about market and price direction then it’s fine to wait a day, or several days, to enter after the Buy signal when you have greater confidence about market direction. The author can help with a short list of tactical rules developed for these sideways or choppy markets.
This strategy has proven successful backtest results with a very limited set of LETFs as discussed earlier. The author does not know if it will prove successful with any others, or other types of ETFs such as 2X or plain ETFs. A lot more testing needs to be done.
The strategy buys and sells , excluding stops or take profit, at the market close. It can be very challenging to enter an order at market close.
Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting. This post and the script do not provide any financial advice and are for educational and entertainment purposes only.
Liquid Pours XtremeStrategy Description: Liquid Pours Xtreme
The Liquid Pours Xtreme is an innovative trading strategy that combines the analysis of specific time-based patterns with price comparisons to identify potential opportunities in the forex market. Designed for traders seeking a structured methodology based on clear rules, this strategy offers integration with Telegram for real-time alerts and provides visual tools to enhance trade management.
Key Features:
Analysis of Specific Time Patterns: The strategy captures and compares closing prices at two key moments during the trading day, identifying recurring patterns that may indicate future market movements.
Dynamic SL and TP Levels Implementation: Utilizes tick-based calculations to set Stop-Loss and Take-Profit levels, adapting to the current market volatility.
Advanced Telegram Integration: Provides detailed alerts including information such as the asset, signal time, entry price, and SL/TP levels, facilitating real-time decision-making.
Complete Customization: Allows users to adjust key parameters, including operation schedules, weekdays, and visual settings, adapting to different trading styles.
Enhanced Chart Visualization: Includes visual elements like candle color changes based on signal state, event markers, and halos to highlight important moments.
Default Strategy Properties: Specific configuration for optimal risk management and simulation.
How the Strategy Works
Capturing Prices at Key Moments:
- The strategy records the closing price at two user-defined specific times. These times typically correspond to periods of high market volatility, such as the opening of the European session and the US pre-market.
- Rationale: Volatility and trading volume usually increase during these times, presenting opportunities for significant price movements.
Generating Signals Based on Price Comparison:
- Buy Signal: If the second closing price is lower than the first, it indicates possible accumulation and is interpreted as a bullish signal.
- Sell Signal: If the second closing price is higher than the first, it suggests possible distribution and is interpreted as a bearish signal.
- Signals are only generated on selected trading days, allowing you to avoid days with lower liquidity or higher risk.
Calculating Dynamic SL and TP Levels:
- Stop-Loss (SL) and Take-Profit (TP) levels are calculated based on the entry price and a user-defined number of ticks, adapting to market volatility.
- The strategy offers the option to base these levels on the close of the signal candle or the open of the next candle, providing flexibility according to the trader's preference.
- SL and TP boxes are drawn on the chart for visual reference, facilitating trade management.
Automatic Execution and Alerts:
- Upon signal generation, the strategy automatically executes a market order (buy or sell).
- Sends a detailed alert to your Telegram channel, including essential information for quick decision-making.
Visual Elements:
- Colors candles based on the signal state: buy, sell, or neutral, allowing for quick trend identification.
- Provides a smooth color transition between signal states and uses markers and halos to highlight important events and signals on the chart.
Trade Management:
- Manages open trades with automatic exit conditions based on the established SL and TP levels.
- Includes mechanisms to prevent exceeding TradingView's limitations on boxes and labels, ensuring optimal script performance.
Originality and utility:
- This strategy incorporates a unique approach focusing on specific time patterns and their relationship to institutional activity in the market.
How to Use the Strategy
Add the Script to the Chart:
- Go to the indicators menu in TradingView.
- Search for " Liquid Pours Xtreme " and add it to your chart.
Set Up Telegram Alerts:
- Enter your Telegram Chat ID in the script parameters to receive alerts.
- Customize the Buy and Sell alert messages as desired.
Configure Time Patterns:
- Set the hours and minutes for the two times you want to compare closing prices, aligning them with relevant market sessions or events.
Set SL and TP Parameters:
- Define the number of ticks for the Stop-Loss and Take-Profit levels, adapting them to the asset you're trading and your risk tolerance.
- Choose the basis for SL and TP calculation (close of the signal candle or open of the next candle).
Select Trading Days:
- Enable or disable trading on specific days of the week, allowing you to avoid days with lower activity or unexpected volatility.
Customize Visual Elements:
- Adjust the colors and styles of visual elements to enhance readability and suit your personal preferences.
Monitor the Strategy:
- Observe the chart for signals and use Telegram alerts to stay informed of new opportunities, even when you're not at your terminal.
Testing and Optimization:
- Use TradingView's backtesting features to evaluate the historical performance of the strategy with different parameters.
- Adjust and optimize the parameters based on the results and your own analysis.
Adjust the Strategy Properties:
- Ensure that the strategy properties (order size, commission, slippage) are aligned with your trading account and platform to obtain realistic results.
Strategy Properties (Important)
This script backtest is conducted on M30 EURUSD , using the following backtesting properties:
Initial Capital: $10,000
Order Size: 50,000 Contracts (equivalent to 0.5% of the capital)
Commission: $0.20 per order
Slippage: 1 tick
Pyramiding: 1 order
Verify Price for Limit Orders: 0 ticks
Recalculate on Order Execution: Enabled
Recalculate on Every Tick: Enabled
Recalculate After Order Filled: Enabled
Bar Magnifier for Backtesting Precision: Enabled
We use these properties to ensure a realistic preview of the backtesting system. Note that default properties may vary for different reasons:
- Order Size: It is essential to calculate the contract size according to the traded asset and desired risk level.
- Commission and Slippage: These costs can vary depending on the market and instrument; there is no default value that might return realistic results.
We strongly recommend all users adjust the Properties within the script settings to align with their accounts and trading platforms to ensure the results from the strategies are realistic.
Backtesting Results:
- Net Profit: $4,037.50 (40.37%)
- Total Closed Trades : 292
- Profitability Percentage: 26.71%
- Profit Factor: 1.369
- Max Drawdown: $769.30 (6.28%)
- Average Trade: $13.83 (0.03%)
- Average Bars in Trades: 11
These results were obtained under the mentioned conditions and properties, providing an overview of the strategy's historical performance.
Interpreting Results:
- The strategy has demonstrated profitability in the analyzed period, although with a win rate of 26.71%, indicating that success relies on a favorable risk-reward ratio.
- The profit factor of 1.369 suggests that total gains exceed total losses by that proportion.
- It is crucial to consider the maximum drawdown of 6.28% when evaluating the strategy's suitability to your risk tolerance.
Risk Warning:
Trading leveraged financial instruments carries a high level of risk and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk tolerance. Past performance does not guarantee future results. It is essential to conduct additional testing and adjust the strategy according to your needs.
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What Makes This Strategy Original?
Time-Based Pattern Approach: Unlike conventional strategies, this strategy focuses on identifying time patterns that reflect institutional activity and macroeconomic events that can influence the market.
Advanced Technological Integration: The combination of automatic execution and customized alerts via Telegram provides an efficient and modern tool for active traders.
Customization and Adaptability: The wide range of adjustable parameters allows the strategy to be tailored to different assets, time zones, and trading styles.
Enhanced Visual Tools: Incorporated visual elements facilitate quick market interpretation and informed decision-making.
Additional Considerations
Continuous Testing and Optimization: Users are encouraged to perform additional backtesting and optimize parameters according to their own observations and requirements.
Complementary Analysis: Use this strategy in conjunction with other indicators and fundamental analysis to reinforce decision-making.
Rigorous Risk Management: Ensure that SL and TP levels, as well as position sizing, align with your risk management plan.
Updates and Support: I am committed to providing updates and improvements based on community feedback. For inquiries or suggestions, feel free to contact me.
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Example Configuration
Assuming you want to use the strategy with the following parameters:
Telegram Chat ID: Your unique Telegram Chat ID
First Time (Hour:Minute): 6:30
Second Time (Hour:Minute): 7:30
SL Ticks: 100
TP Ticks: 400
SL and TP Basis: Close of the Signal Candle
Trading Days: Tuesday, Wednesday, Thursday
Simulated Initial Capital: $10,000
Risk per Trade in Simulation: $50 (-0.5% of capital)
Slippage and Commissions in Simulation: 1 tick of slippage and $0.20 commission per trade
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Conclusion
The Liquid Pours Xtreme strategy offers an innovative approach by combining specific time analysis with robust risk management and modern technological tools. Its original and adaptable design makes it valuable for traders looking to diversify their methods and capitalize on opportunities based on less conventional patterns.
Ready for immediate implementation in TradingView, this strategy can enrich your trading arsenal and contribute to a more informed and structured approach to your operations.
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Final Disclaimer:
Financial markets are volatile and can present significant risks. This strategy should be used as part of a comprehensive trading approach and does not guarantee positive results. It is always advisable to consult with a professional financial advisor before making investment decisions.
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