[astropark] Altwalker V2

17 ott 2020

Dear Followers,

today I'm happy to share with you Altwalker V2, an updated version of the former Altwalker for lower timeframes (from 5 minutes to 4 hours).
It is both a Swing and Scalping Strategy indicator, based on a simple trend following theory, mainly designed for Cryptocurrencies, Altcoins and of course Bitcoin.

Here you can see the Altwalker V1:

Based on Moving Average, Altwalker V2 on low timeframes dynamically identifies market resistance and support, so in which trend a cryptocurrency is during time:

• green trendline and background means bullish trend, in fact it start with a "buy" signal
  
• red trendline and background means bearish trend, in fact it start with a "sell" signal
  
• if a series of buy and sell appears (this may happen especially in lower timeframes), this means price is in consolidation or distribution phase, so be prepared for a new trending phase coming soon, always remembering that taking profits is awesome and managing your risk by defining you position size and having a stoploss is a must in trading

To help in Taking Profits, Altwalker integrates also 2 special tools besides the trend highlighter:

• Overbought and Oversold RSI Signals, which appear both as darker background (the darker the color, the more the price is in overbought/oversold) and green "ob"-"tp" / red "os"-"tp" labels (they optionally pop up only on a configurable stronger overbought/oversold condition) (you can enable/disable it optionally)
  
• Peak Profit Tracker, which resets every time a new trade start and keeps track of price fluctuation during the trade: the message is don't be too much greedy and take profits or lock them with a stoploss in profit (you can enable/disable it optionally)
  

You can edit many options in order to

• enable/disable showing buy/sell signals
  
• enable/disable showing trendline
  
• edit trendline variant (you have 2 options, by default variant 1 is selected)
  
• enable/disable showing trend as background
  
• enable/disable showing RSI TP signals
  
• edit RSI length, overbought (OB) and oversold (OS) levels
  
• enable/disable showing peak profits on each trade
  

The user who wants to use this strategy, especially via an automated bot, must always set a stoploss (example 150$ from entry on bitcoin ) or use a proper risk management strategy.
This is not the "Holy Grail", so use it with caution. It's highly suggested to use a proper money management.

This script will let you set all notifications you may need in order to be alerted on each triggered signals.

Here there are some examples how Altwalker V2 works on many timeframes and markets:

LINK/USDT 1h


XLM/BTC 1h


ETH/BTC 1h


ETH/USDT 1h


COMP/USDT 1h


YFI/USDT 15m


NEO/BTC 5m


VET/USDT 15m



This is a premium indicator, so send me a private message in order to get access to this script.

20 nov 2021

Note di rilascio

upgraded to pinescript v5

20 gen 2022

Note di rilascio

Added enhanced Re-Entry and Take Profit (TP) logic as in ALGO Trading indicator series

19 mar 2023

Note di rilascio

added "all-in-one" alert condition

19 mar 2023

Note di rilascio

small bug fix