A trailing stop loss (%) is used.
.) Fast MA > Slow MA and Price > Slow MA and < Oversold Threshold ------> go Long
.) Fast MA < Slow MA and Price < Slow MA and > Overbought Threshold ------> go Short
.) Long entry condition is true and (close >= TP or close <= TSL ) ----> close short position
.) Short entry condition is true and (close <= TP or close >= TSL ) ----> close long position
The strategy performed best on Bitcoin and the most liquid and capitalized Altcoins but works excellent on volatile assets, mainly if they often go trending.
Works best on 3h - 4h time frame.
There's also an optional filter, which opens the position only if the difference between the two slopes is more than a specific value, which can be set in the study inputs. The purpose is not opening positions if the price goes sideways and the noise is way > than the signal.
.) the length is 2;
.) the oversold Threshold is 90%;
.) the overbought Threshold is 10%;
.) by default, the trailing stop loss per cent is 1%;
.) by default, the fast MA length is 50;
.) by default, the slow MA length is 200;
.) by default, the MA used is .
I have improved the exit conditions in this version, and I implemented the alters using the alert() function.
Now, the alters can inform you correctly about every entry and exit conditions.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
1) the fees
2) the max drawdown.
Therefore, the timeframe of 3h-4h is the right compromise in the BTC / USDT pair.
The ideal would be to intercept when the strategy.exit command is executed to trigger the alert.
Do you have any suggestions?
If you find a solution, let me know my friend.
Thumbs up for your work !
In this latest version of the strategy, I have changed the management of the alarms, and it is actually possible to intercept the execution of the "strategy.exit" function.
You need to create an "alert's notification message" using the control panel and enter the core corresponding placeholder.
Da un'occhiata anche allo script "Scalping using RSI 2 indicator with TP and TSL" per un'eventualmente suo utilizzo in un bot. Devi impostare correttamente le percentuali di TP e TSL.