VWAP RangeThe VWAP Range indicator is a highly versatile and innovative tool designed with trading signals for trading the supply and demand within consolidation ranges.
What's a VWAP?
A VWAP (Volume Weighted Average Price) represents an equilibrium point in the market, balancing supply and demand over a specified period. Unlike simple moving averages, VWAP gives more weight to periods with higher volume. This is crucial because large volumes indicate significant trading activity, often by institutional traders, whose actions can reflect deeper market insights or create substantial market movements. The VWAP is also often used as a benchmark to evaluate the efficiency of executed trades. If a trader buys below the VWAP and sells above it, they are generally considered to have transacted favourably.
This is how it works:
Multiple VWAP Anchors:
This indicator uses multiple VWAPs anchored to different optional time periods, such as Daily, Weekly, Monthly, as well as to the highest high a lowest low within those periods. This multiplicity allows for a comprehensive view of the market’s average price based on volume and price, tailored to different trading styles and strategies.
Dynamic and Fixed Periods:
Traders can choose between using dynamic ranges, which reset at the start of each selected period, and specifying a date and time for a particular fixed range to trade. This flexibility is crucial for analyzing price movements within specific ranges or market phases.
Fixed ranges allow VWAPs to be calculated and anchored to a significant market event, the beginning of a consolidation phase or after a major news announcement.
Signal Generation:
The indicator generates buy and sell signals based on the relationship of the price to the VWAPs. It also allows for setting a maximum number of signals in one direction to avoid overtrading or pyramiding. Be sure to wait for the candle close before trading on the signals.
Average Buy/Sell Signal Lines:
Lines can be plotted to display the average buy and sell signal prices. The difference between the lines shows the average profit per trade when trading on the signals in that range. It's a good way to see how profitable a range is on average without backtesting the signals. The lines will also often turn into support and resistance areas, similar to value areas in a volume profile.
Customizable Settings:
Traders have control over various settings, such as the VWAP calculation method and bar color. There are also tooltips for every function.
Hidden Feature:
There's a subtle feature in this indicator: if you have 'Indicator values' turned on in TradingView, you'll see a Sell/Buy Ratio displayed only in the status line. This ratio indicates whether there are more sell signals than buy signals in a range, regardless of the Max Signals setting. A red value above 1 suggests that the market is trending upward, indicating you might want to hold your long positions a bit longer. Conversely, a green value below 1 implies a downward trend.
Cerca negli script per "backtesting"
Ehlers Combo Strategy🚀 Presenting the Enhanced Ehlers Combo Strategy 🚀
Hello Traders! 👋 I'm thrilled to share the latest version of the Ehlers Combo Strategy v2.0. This powerful algorithm combines Ehlers Elegant Oscillator, Decycler, Instantaneous Trendline, Spearman Rank, and introduces the Signal to Noise Ratio for even more precise trading signals.
📊 Strategy Highlights:
Ehlers Elegant Oscillator: Captures market momentum and turning points.
Ehlers Decycler: Filters out market noise for clearer trend signals.
Instantaneous Trendline: Offers a dynamic view of the market trend.
Spearman Rank: Analyzes market rank correlations for enhanced insights.
Signal to Noise Ratio (SNR): Filters out noise for more accurate signals.
💡 Key Features & Customizations:
Adaptive Length: Enable adaptive length based on the market's current conditions.
SNR Threshold: Set your desired SNR threshold for filtering signals.
Exit Length: Define the length for exit signals.
📈 Trading Signals:
Long Entry: Elegant Oscillator and Decycler cross above 0, source crosses above Decycler, source is greater than an increasing Instantaneous Trendline, Spearman Rank is positive, and SNR exceeds the threshold.
Long Exit: Source crosses below the Instantaneous Trendline after entering a long position.
Short Entry: Elegant Oscillator and Decycler cross below 0, source crosses below Decycler, source is less than a decreasing Instantaneous Trendline, Spearman Rank is negative, and SNR exceeds the threshold.
Short Exit: Source crosses above the Instantaneous Trendline after entering a short position.
📊 Insights & Enhancements:
Dynamic Length: The strategy adapts its length dynamically based on market conditions.
Improved SNR: Signal to Noise Ratio ensures better filtering of signals.
Enhanced Visualization: The Elegant Oscillator now features improved color coding for a clearer interpretation.
🚨 Disclaimer:
Trading involves risk, and this script should be used judiciously. It's not a guaranteed profit machine, but with careful use, it can be a valuable addition to your toolkit.
Feel free to backtest, tweak, and make it your own! Let's conquer the markets together! 💪📈
🚀✨ Happy Trading! ✨🚀
---
🙌 Credits:
A big shoutout to the original contributors:
@blackcat1402
@cheatcountry
@DasanC
Session Breakout Scalper Trading BotHi Traders !
Introduction:
I have recently been exploring the world of automated algorithmic trading (as I prefer more objective trading strategies over subjective technical analysis (TA)) and would like to share one of my automation compatible (PineConnecter compatible) scripts “Session Breakout Scalper”.
The strategy is really simple and is based on time conditional breakouts although has more ”relatively” advanced optional features such as the regime indicators (Regime Filters) that attempt to filter out noise by adding more confluence states and the ATR multiple SL that takes into account volatility to mitigate the down side risk of the trade.
What is Algorthmic Trading:
Firstly what is algorithmic trading? Algorithmic trading also known as algo-trading, is a method of using computer programs (in this case pine script) to execute trades based on predetermined rules and instructions (this trading strategy). It's like having a robot trader who follows a strict set of commands to buy and sell assets automatically, without any human intervention.
Important Note:
For Algorithmic trading the strategy will require you having an essential TV subscription at the minimum (so that you can set alerts) plus a PineConnecter subscription (scroll down to the .”How does the strategy send signals” headings to read more)
The Strategy Explained:
Is the Time input true ? (this can be changed by toggling times under the “TRADE MEDIAN TIMES” group for user inputs).
Given the above is true the strategy waits x bars after the session and then calculates the highest high (HH) to lowest low (LL) range. For this box to form, the user defined amount of bars must print after the session. The box is symmetrical meaning the HH and LL are calculated over a lookback that is equal to the sum of user defined bars before and after the session (+ 1).
The Strategy then simultaneously defines the HH as the buy level (green line) and the LL as the sell level (red line). note the strategy will set stop orders at these levels respectively.
Enter a buy if price action crosses above the HH, and then cancel the sell order type (The opposite is true for a stop order).
If the momentum based regime filters are true the strategy will check for the regime / regimes to be true, if the regime if false the strategy will exit the current trade, as the regime filter has predicted a slowing / reversal of momentum.
The image below shows the strategy executing these trading rules ( Regime filters, "Trades on chart", "Signal & Label" and "Quantity" have been omitted. "Strategy label plots" has been switched to true)
Other Strategy Rules:
If a new session (time session which is user defined) is true (blue vertical line) and the strategy is currently still in a trade it will exit that trade immediately.
It is possible to also set a range of percentage gain per day that the strategy will try to acquire, if at any point the strategy’s profit is within the percentage range then the position / trade will be exited immediately (This can be changed in the “PERCENT DAY GAIN” group for user inputs)
Stops and Targets:
The strategy has either static (fixed) or variable SL options. TP however is only static. The “STRAT TP & TP” group of user inputs is responsible for the SL and TP values (quoted in pips). Note once the ATR stop is set to true the SL values in the above group no longer have any affect on the SL as expected.
What are the Regime Filters:
The Larry Williams Large Trade Index (LWLTI): The Larry Williams Large Trade Index (LWTI) is a momentum-based technical indicator developed by iconic trader Larry Williams. It identifies potential entries and exits for trades by gauging market sentiment, particularly the buying and selling pressure from large market players. Here's a breakdown of the LWTI:
LWLTI components and their interpretation:
Oscillator: It oscillates between 0 and 100, with 50 acting as the neutral line.
Sentiment Meter: Values above 75 suggest a bearish market dominated by large selling, while readings below 25 indicate a bullish market with strong buying from large players.
Trend Confirmation: Crossing above 75 during an uptrend and below 25 during a downtrend confirms the trend's continuation.
The Andean Oscillator (AO) : The Andean Oscillator is a trend and momentum based indicator designed to measure the degree of variations within individual uptrends and downtrends in the prices.
Regime Filter States:
In trading, a regime filter is a tool used to identify the current state or "regime" of the market.
These Regime filters are integrated within the trading strategy to attempt to lower risk (equity volatility and/or draw down). The regime filters have different states for each market order type (buy and sell). When the regime filters are set to true, if these regime states fail to be true the trade is exited immediately.
For Buy Trades:
LWLTI positive momentum state: Quotient of the lagged trailing difference and the ATR > 50
AO positive momentum state: Bull line > Bear line (signal line is omitted)
For Sell Trades:
LWLTI negative momentum stat: Quotient of the lagged trailing difference and the ATR < 50
AO negative momentum state: Bull line < Bear line (signal line is omitted)
How does the Strategy Send Signals:
The strategy triggers a TV alert (you will neet to set a alert first), TV then sends a HTTP request to the automation software (PineConnecter) which receives the request and then communicates to an MT4/5 EA to automate the trading strategy.
For the strategy to send signals you must have the following
At least a TV essential subscription
This Script added to your chart
A PineConnecter account, which is paid and not free. This will provide you with the expert advisor that executes trades based on these strategies signals.
For more detailed information on the automation process I would recommend you read the PineConnecter documentation and FAQ page.
Dashboard:
This Dashboard (top right by defualt) lists some simple trading statistics and also shows when a trade is live.
Important Notice:
- USE THIS STRATEGY AT YOUR OWN RISK AND ALWAYS DO YOUR OWN RESEARCH & MANUAL BACKTESTING !
- THE STRATEGY WILL NOT EXHIBIT THE BACKTEST PERFORMANCE SEEN BELOW IN ALL MARKETS !
BreakoutTrendFollowingINFO:
The "BreakoutTrendFollowing" indicator is a comprehensive trading system designed for trend-following in various market environments. It combines multiple technical indicators, including Moving Averages (MA), MACD, and RSI,
along with volume analysis and breakout detection from consolidation, to identify potential entry points in trending markets. This strategy is particularly effective for assets that exhibit strong trends and significant price movements.
Note that using the consolidation filter reduces the amount of entries the strategy detects significantly, and needs to be used if we want to have an increased confidence in the trend via breakout.
However, the strategy can be easily transformed to various only trend-following strategies, by applying different filters and configurations.
The indicator can be used to connect to the Signal input of the TTS (TempalteTradingStrategy) by jason5480 in order to backtest it, thus effectively turning it into a strategy (instructions below in TTS CONNECTIVITY section)
DETAILS:
The strategy's core is built upon several key components:
Moving Average (MA): Used to determine the general trend direction. The strategy checks if the price is above the selected MA type and length.
MACD Filter: Analyzes the relationship between two moving averages to confirm the trend's momentum.
Consolidation Detection: Identifies periods of price consolidation and triggers trades on breakouts from these ranges.
Volume Analysis: Assesses trading volume to confirm the strength and validity of the breakout.
RSI: Used to avoid overbought conditions, ensuring trades are entered in favorable market situations.
Wick filters: make sure there is not a long wick that indicates selling pressure from above
The strategy generates buy signals when several conditions are met concurrently (each one of them can be individually enabled/disabled)"
The price is above the selected MA.
A breakout occurs from a configurable consolidation range.
The MACD line is above the signal line, indicating bullish momentum.
The RSI is below the overbought threshold.
There's an increase in trading volume, confirming the breakout's strength.
Currently the strategy fires SL signals, as the approach is to check for loss of momentum - i.e. crossunder of the MACD line and signal line, but that is to everyone to determine the exit conditions.
The buy and SL signals are set on the chart using green or orange triangles on the below/above the price action.
SETTINGS:
Users can customize various parameters, including MA type and period, MACD settings, consolidation length, and volume increase percentage. The strategy is equipped with alert conditions for both entry (buy signals) and exit (set stop loss) points, facilitating both manual and automated trading.
Each one of the technical indicators, as well as the consilidation range and breakout/wick settings can be configured and enabled/disabled individually.
Please thoroughly review the available settings of the script, but here is an outline of the most important ones:
Use bar wicks (instead of open/close) - the ref_high/low will be taken based on the bar wicks, rather than the open/close when determining the breakout and MA
Enter position only on green candles - additional filters to make sure that we enter only on strong momentum
MA Filter: (enable, source, type, length) - general settings for MA filter to be checked against the stock price (close or upper wick)
MACD Filter: (enable, source, Osc MA type, Signal MA type, Fast MA length, Slow MA length, Low MACD Hist) - detailed settings for fine MACD tuning
Consolidation:
Consolidation Type: we have two different ways of detecting the consolidation, note the types below.
CONSOLIDATION_BASIC - consolidation areas by looking for the pivot point of a trend and counts the number of bars that have not broken the consolidation high/low levels.
CONSOLIDATIO_RANGE_PERCENT - identifies consolidation by comparing the range between the highest and lowest price points over a specified period.
So in summary the CONSOLIDATIO_RANGE_PERCENT uses a percentage-based range to define consolidation, while CONSOLIDATION_BASIC uses a count of bars within a high-low range to establish consolidation.
Thus the former is more focused on the tightness of the price range, whereas the latter emphasizes the duration of the consolidation phase.
The CONSOLIDATIO_RANGE_PERCENT might be more sensitive to recent price movements and suitable for shorter-term analysis, while CONSOLIDATION_BASIC could be better for identifying longer-term consolidation patterns.
Min consolidation length - applicable for CONSOLIDATION_BASIC case, the min number of bars for the price to be in the range to consider consolidation
Consolidation Loopback period - applicable for CONSOLIDATION_BASIC case, the loopback number of bars to look for consolidation
Consolidation Range percent - applicable for CONSOLIDATIO_RANGE_PERCENT, the percent between the high and low in the range to consider consolidation
Plot consolidation - enables plotting of the consolidation (only for debug purposes)
Breakout: (enable, low, high) - the definition of the breakout from the previous consolidation range, the price should be between to determine the breakout as successfull
Upper wick: (enable, percent) - defines the percent of the upper wick compared to the whole candle to allow breakout (if the wick is too big part of the candle we can consider entering the position riskier)
RSI: (enable, length, overbought) - general settings for RSI TA
Volume (enbale, percentage increase, average volume filter en, loopback bars) - percentage of increase of the volume to consider for a breakout. There are two modes - percentage increase compared to the previous bar, or percentage against the average volume for the last loopback bars.
Note that there are many different configuration that you can play with, and I believe this is the strength of the strategy, as it can provide a single solution for different cases and scenarios.
My advice is to try and play with the different options for different markets based on the approach you want to implement and try turning features on/off and tuning them further.
TTS SETTINGS (NEEDED IF USED TO BACKTEST WITH TTS):
The TempalteTradingStrategy is a strategy script developed in Pine by jason5480, which I recommend for quick turn-around of testing different ideas on a proven and tested framework
I cannot give enough credit to the developer for the efforts put in building of the infrastructure, so I advice everyone that wants to use it first to get familiar with the concept and by checking
by checking jason5480's profile www.tradingview.com
The TTS itself is extremely functional and have a lot of properties, so its functionality is beyond the scope of the current script -
Again, I strongly recommend to be thoroughly explored by everyone that plans on using it.
In the nutshell it is a script that can be feed with buy/sell signals from an external indicator script and based on many configuration options it can determine how to execute the trades.
The TTS has many settings that can be applied, so below I will cover only the ones that differ from the default ones, at least according to my testing - do your own research, you may find something even better :)
The current/latest version that I've been using as of writing and testing this script is TTSv48
Settings which differ from the default ones:
Deal Conditions Mode - External (take enter/exit conditions from an external script)
🔌Signal 🛈➡ - BreakoutTrendFollowing: 🔌Signal to TTS (this is the output from the indicator script, according to the TTS convention)
Order Type - STOP (perform stop order)
Distance Method - HHLL (HigherHighLowerLow - in order to set the SL according to the strategy definition from above)
The next are just personal preferences, you can feel free to experiment according to your trading style
Take Profit Targets - 0 (either 100% in or out, no incremental stepping in or out of positions)
Dist Mul|Len Long/Short- 10 (make sure that we don't close on profitable trades by any reason)
Quantity Method - EQUITY (personal backtesting preference is to consider each backtest as a separate portfolio, so determine the position size by 100% of the allocated equity size)
Equity % - 100 (note above)
SILVER Midnight Candle Color Strategy 1-Hour Delay and SL/TP Overview:
The "Midnight Candle Color Strategy with 1-Hour Delay and SL/TP" is a unique trading strategy designed for the Forex market. This strategy capitalizes on the color of the midnight candle based on New York time, making trade decisions one hour later, at 1:00 AM.
Key Features:
Time Zone Adjustment: Automatically adjusts to New York time (UTC-5 or UTC-4 during Daylight Saving Time).
Midnight Candle Analysis: Utilizes the color of the midnight candle to gauge market sentiment.
Trade Execution at 1 AM: Trades are executed one hour after midnight based on the previous day's candle color.
Strategic SL/TP: Incorporates predefined stop loss (SL) and take profit (TP) levels for each trade.
How It Works:
The script first determines whether the current bar represents 12:00 AM or 1:00 AM in New York time.
At midnight, it records the color of the candle (green for bullish, red for bearish).
At 1:00 AM, the strategy:
Enters a long position if the midnight candle was green, with specific TP and SL settings.
Enters a short position if the midnight candle was red, again with defined TP and SL.
Visualization:
Optional markers are plotted on the chart for easy visualization of the strategy's entry points at midnight and 1 AM.
Usage Tips:
Ideal for traders focusing on overnight price movements and early morning trends.
Best suited for SILVER trading due to the 24-hour trading cycle.
We recommend backtesting the strategy with historical data to evaluate performance.
Disclaimer:
This strategy is provided for educational purposes and should not be considered as financial advice. Users should conduct their own research and exercise caution while trading. Past performance is not indicative of future results.
I´m not a signal service, however I´m sharing my signals. For free. If you wish to buy something, contact some other signalist, preferably with 5-10-15-20K followers, selling signals on the premium channel, but in reality not trading them themselves. If you will realise after few blown account that something is wrong, ask yourself why is that. Trading is not pushing the buy-sell button and drinking tequila on the beach. If you want to learn, you know what to do.
Perfect RSIOverview:
The "Enhanced RSI" is a comprehensive TradingView indicator designed to provide traders with a nuanced and detailed analysis of market conditions using the Relative Strength Index (RSI). It amalgamates various RSI calculation methods to offer a more robust and adaptable approach to technical analysis.
Originality:
This script is unique in its synthesis of multiple RSI calculation techniques, including Regular RSI, Dynamic RSI, DMI RSI, Wilder's RSI, TSI RSI, Momentum RSI, and PPO RSI. By combining these methods, the script creates a distinctive and versatile tool for traders seeking a holistic view of RSI dynamics.
How It Works:
Diverse RSI Calculations:
Regular RSI: Calculates standard RSI with user-defined length and source.
Dynamic RSI: Adjusts RSI dynamically based on price movement direction.
DMI RSI: Uses Directional Movement Index for RSI calculation.
Wilder's RSI: Implements Wilder's smoothing technique for RSI.
TSI RSI: Utilizes True Strength Index for RSI calculation.
Momentum RSI: Calculates RSI based on momentum.
PPO RSI: Applies Percentage Price Oscillator for RSI calculation.
Composite RSI:
Combines the individual RSIs into three composite indices (RSI1, RSI2, RSI) using a weighted average approach.
Dynamic Level Adjustment:
Uses the correlation coefficient to dynamically adjust overbought and oversold levels, enhancing adaptability to market changes.
Visualization and Background Coloring:
Visualizes overbought and oversold zones on the chart.
Adjusts background color based on these conditions for clearer interpretation.
How to Use:
Installation:
Copy and paste the script into the Pine Editor on TradingView.
Adjust parameters as needed.
Analysis:
Utilize the "Enhanced RSI" as a comprehensive analysis tool for RSI dynamics.
Consider it as a confirmation tool alongside other technical indicators.
Customization:
Experiment with different RSI lengths and methods to align with your trading strategy.
Backtest the script to validate its effectiveness.
Considerations:
Complexity:
The script is sophisticated; users are advised to understand each calculation method before reliance.
Parameter Sensitivity:
Effectiveness may vary based on chosen parameters; thorough backtesting and parameter optimization are recommended.
[imba]lance algo🟩 INTRODUCTION
Hello, everyone!
Please take the time to review this description and source code to utilize this script to its fullest potential.
🟩 CONCEPTS
This is a trend indicator. The trend is the 0.5 fibonacci level for a certain period of time.
A trend change occurs when at least one candle closes above the level of 0.236 (for long) or below 0.786 (for short). Also it has massive amout of settings and features more about this below.
With good settings, the indicator works great on any market and any time frame!
A distinctive feature of this indicator is its backtest panel. With which you can dynamically view the results of setting up a strategy such as profit, what the deposit size is, etc.
Please note that the profit is indicated as a percentage of the initial deposit. It is also worth considering that all profit calculations are based on the risk % setting.
🟩 FEATURES
First, I want to show you what you see on the chart. And I’ll show you everything closer and in more detail.
1. Position
2. Statistic panel
3. Backtest panel
Indicator settings:
Let's go in order:
1. Strategies
This setting is responsible for loading saved strategies. There are only two preset settings, MANUAL and UNIVERSAL. If you choose any strategy other than MANUAL, then changing the settings for take profits, stop loss, sensitivity will not bring any results.
You can also save your customized strategies, this is discussed in a separate paragraph “🟩HOW TO SAVE A STRATEGY”
2. Sensitive
Responsible for the time period in bars to create Fibonacci levels
3. Start calculating date
This is the time to start backtesting strategies
4. Position group
Show checkbox - is responsible for displaying positions
Fill checkbox - is responsible for filling positions with background
Risk % - is responsible for what percentage of the deposit you are willing to lose if there is a stop loss
BE target - here you can choose when you reach which take profit you need to move your stop loss to breakeven
Initial deposit- starting deposit for profit calculation
5. Stoploss group
Fixed stoploss % checkbox - If choosed: stoploss will be calculated manually depending on the setting below( formula: entry_price * (1 - stoploss percent)) If NOT choosed: stoploss will be ( formula: fibonacci level(0.786/0.236) * (1 + stoploss percent))
6. Take profit group
This group of settings is responsible for how far from the entry point take profits will be and what % of the position to fix
7. RSI
Responsible for configuring the built-in RSI. Suitable bars will be highlighted with crosses above or below, depending on overbought/oversold
8. Infopanels group
Here I think everything is clear, you can hide or show information panels
9. Developer mode
If enabled, all events that occur will be shown, for example, reaching a take profit or stop loss with detailed information about the unfixed balance of the position
🟩 HOW TO USE
Very simple. All you need is to wait for the trend to change to long or short, you will immediately see a stop loss and four take profits, and you will also see prices. Like in this picture:
🟩 ALERTS
There are 3 types of alerts:
1. Long signal
2. Short signal
3. Any alert() function call - will be send to you json with these fields
{
"side": "LONG",
"entry": "64.454",
"tp1": "65.099",
"tp2": "65.743",
"tp3": "66.388",
"tp4": "67.032",
"winrate": "35.42%",
"strategy": "MANUAL",
"beTargetTrigger": "1",
"stop": "64.44"
}
🟩 HOW TO SAVE A STRATEGY
First, you need to make sure that the “MANUAL” strategy is selected in the strategy settings.
After this, you can start selecting parameters that will show the largest profit in the statistics panel.
I have highlighted what you need to pay attention to when choosing a strategy
Let's assume you have set up a strategy. The main question is how to preserve it?
Let’s say the strategy turned out with the following parameters:
Next we need to find this section of code:
// STRATS
selector(string strategy_name) =>
strategy_settings = Strategy_settings.new()
switch strategy_name
"MANUAL" =>
strategy_settings.sensitivity := 18
strategy_settings.risk_percent := 1
strategy_settings.break_even_target := "1"
strategy_settings.tp1_percent := 1
strategy_settings.tp1_percent_fix := 40
strategy_settings.tp2_percent := 2
strategy_settings.tp2_percent_fix := 30
strategy_settings.tp3_percent := 3
strategy_settings.tp3_percent_fix := 20
strategy_settings.tp4_percent := 4
strategy_settings.tp4_percent_fix := 10
strategy_settings.fixed_stop := false
strategy_settings.sl_percent := 0.0
"UNIVERSAL" =>
strategy_settings.sensitivity := 20
strategy_settings.risk_percent := 1
strategy_settings.break_even_target := "1"
strategy_settings.tp1_percent := 1
strategy_settings.tp1_percent_fix := 40
strategy_settings.tp2_percent := 2
strategy_settings.tp2_percent_fix := 30
strategy_settings.tp3_percent := 3
strategy_settings.tp3_percent_fix := 20
strategy_settings.tp4_percent := 4
strategy_settings.tp4_percent_fix := 10
strategy_settings.fixed_stop := false
strategy_settings.sl_percent := 0.0
// "NEW STRATEGY" =>
// strategy_settings.sensitivity := 20
// strategy_settings.risk_percent := 1
// strategy_settings.break_even_target := "1"
// strategy_settings.tp1_percent := 1
// strategy_settings.tp1_percent_fix := 40
// strategy_settings.tp2_percent := 2
// strategy_settings.tp2_percent_fix := 30
// strategy_settings.tp3_percent := 3
// strategy_settings.tp3_percent_fix := 20
// strategy_settings.tp4_percent := 4
// strategy_settings.tp4_percent_fix := 10
// strategy_settings.fixed_stop := false
// strategy_settings.sl_percent := 0.0
strategy_settings
// STRATS
Let's uncomment on the latest strategy called "NEW STRATEGY" rename it to "SOL 5m" and change the sensitivity:
// STRATS
selector(string strategy_name) =>
strategy_settings = Strategy_settings.new()
switch strategy_name
"MANUAL" =>
strategy_settings.sensitivity := 18
strategy_settings.risk_percent := 1
strategy_settings.break_even_target := "1"
strategy_settings.tp1_percent := 1
strategy_settings.tp1_percent_fix := 40
strategy_settings.tp2_percent := 2
strategy_settings.tp2_percent_fix := 30
strategy_settings.tp3_percent := 3
strategy_settings.tp3_percent_fix := 20
strategy_settings.tp4_percent := 4
strategy_settings.tp4_percent_fix := 10
strategy_settings.fixed_stop := false
strategy_settings.sl_percent := 0.0
"UNIVERSAL" =>
strategy_settings.sensitivity := 20
strategy_settings.risk_percent := 1
strategy_settings.break_even_target := "1"
strategy_settings.tp1_percent := 1
strategy_settings.tp1_percent_fix := 40
strategy_settings.tp2_percent := 2
strategy_settings.tp2_percent_fix := 30
strategy_settings.tp3_percent := 3
strategy_settings.tp3_percent_fix := 20
strategy_settings.tp4_percent := 4
strategy_settings.tp4_percent_fix := 10
strategy_settings.fixed_stop := false
strategy_settings.sl_percent := 0.0
"SOL 5m" =>
strategy_settings.sensitivity := 15
strategy_settings.risk_percent := 1
strategy_settings.break_even_target := "1"
strategy_settings.tp1_percent := 1
strategy_settings.tp1_percent_fix := 40
strategy_settings.tp2_percent := 2
strategy_settings.tp2_percent_fix := 30
strategy_settings.tp3_percent := 3
strategy_settings.tp3_percent_fix := 20
strategy_settings.tp4_percent := 4
strategy_settings.tp4_percent_fix := 10
strategy_settings.fixed_stop := false
strategy_settings.sl_percent := 0.0
strategy_settings
// STRATS
Now let's find this code:
strategy_input = input.string(title = "STRATEGY", options = , defval = "MANUAL", tooltip = "EN:\nTo manually configure the strategy, select MANUAL otherwise, changing the settings won't have any effect\nRU:\nЧтобы настроить стратегию вручную, выберите MANUAL в противном случае изменение настроек не будет иметь никакого эффекта")
And let's add our new strategy there, it turned out like this:
strategy_input = input.string(title = "STRATEGY", options = , defval = "MANUAL", tooltip = "EN:\nTo manually configure the strategy, select MANUAL otherwise, changing the settings won't have any effect\nRU:\nЧтобы настроить стратегию вручную, выберите MANUAL в противном случае изменение настроек не будет иметь никакого эффекта")
That's all. Our new strategy is now saved! It's simple! Now we can select it in the list of strategies:
Market SessionsMarket Sessions Indicator Overview:
The "Market Sessions" indicator is a powerful tool designed to enhance traders' insights by providing comprehensive information about key market sessions, daily high/low values, and important exponential moving averages (EMAs) directly on the trading chart.
Key Features:
Market Sessions Display:
Visually represents Sydney/Tokyo, London, and New York sessions using distinct color-coded shapes.
Enhances visibility by dynamically changing the background color during specific trading sessions.
Daily High/Low:
Plots and labels the high and low values of the previous trading day on the chart.
Customizable colors for daily high and low markers.
Exponential Moving Averages (EMAs):
Includes 20, 50, and 200-period EMAs for comprehensive trend analysis.
Users have the flexibility to customize the visibility and color of each EMA.
Dashboard Information:
Real-time information about the current and upcoming market sessions.
Displays the time remaining for the upcoming session, aiding in timely decision-making.
Stock Session Information:
Clearly marks open and close times for Asia, Euro, and USA stock sessions.
Customizable visibility options for stock open/close lines, allowing for a tailored chart display.
Usage Guidelines:
Market Session Identification: Easily identify distinct market sessions using color-coded shapes and background color changes.
Daily Analysis: Quickly reference labeled lines for the high and low values of the previous trading day.
Trend Analysis: Observe the plotted EMAs on the chart for insights into the prevailing trends.
Real-time Monitoring: Utilize the dashboard for real-time information on current and upcoming sessions.
Stock Session Details: Identify specific open and close times for stock sessions, aiding in strategic planning.
Customization Options:
User-Friendly Parameters: Customize visibility, color, and positioning based on individual preferences.
Dashboard Configuration: Adjust dashboard position, text placement, and EMA parameters to tailor the indicator to specific needs.
Backtesting Feature:
The indicator includes a backtest feature, allowing users to visualize past sessions for testing and refining trading strategies.
This Market Sessions Indicator provides traders with a holistic view of market dynamics, facilitating informed decision-making and enhancing overall trading experiences.
Backtest Strategy Optimizer Adapter - Supertrend ExampleSample Code
This is a sample code for my Backtest Strategy Optimizer Adapter library.
You can find the library at:
Backtest Strategy Optimizer Tester
With this indicator, you will be able to run one or multiple backtests with different variables (combinations). For example, you can run dozens of backtests of Supertrend at once with an increment factor of 0.1, or whatever you prefer. This way, you can easily grab the most profitable settings and use them in your strategy. The chart above shows different color plots, each indicating a profit backtest equal to tradingview backtesting system. This code uses my backtest library, available in my profile.
Below the code you should edit yourself
You can use ChatGPT or write a python script to autogenerate code for you.
// #################################################################
// # ENTRIES AND EXITS
// #################################################################
// You can use the link and code in the description to create
// your code for the desired number of entries / exits.
// #################################################################
// AUTO GENERATED CODE
// ▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼▼
= ti.supertrend(10, 0.1)
= ti.supertrend(10, 0.2)
= ti.supertrend(10, 0.3)
= ti.supertrend(10, 0.4)
// 005 etc...
pnl_001 = backtest.profit(date_start, date_end, entry_001, exit_001)
pnl_002 = backtest.profit(date_start, date_end, entry_002, exit_002)
pnl_003 = backtest.profit(date_start, date_end, entry_003, exit_003)
pnl_004 = backtest.profit(date_start, date_end, entry_004, exit_004)
plot(pnl_001, title='0.1', color=backtest.color(001))
plot(pnl_002, title='0.2', color=backtest.color(002))
plot(pnl_003, title='0.3', color=backtest.color(003))
plot(pnl_004, title='0.4', color=backtest.color(004))
// Make sure you set the correct array size.
// The amount of tests + 1 (e.g. 4 tests you set it to 5)
var results_list = array.new_string(5)
if (ta.change(pnl_001))
array.set(results_list, 0, str.tostring(pnl_001) + '|0.1')
if (ta.change(pnl_002))
array.set(results_list, 1, str.tostring(pnl_002) + '|0.2')
if (ta.change(pnl_003))
array.set(results_list, 2, str.tostring(pnl_003) + '|0.3')
if (ta.change(pnl_004))
array.set(results_list, 3, str.tostring(pnl_004) + '|0.4')
// ▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲
// AUTO GENERATED CODE
// #################################################################
VIX based LevelsSupport and resistance levels for the day based on the volatility index.
Major - The Major support line where the day low, high or close can occur at that level
Minor - The second level of the Support/Resistance line , where we can expect some rejections or breakouts/breakdowns
Mild - The mid level between the Major and minor levels. The market may consolidate around that area.
The script will automatically get the previous day close value of the current scrip and the India vix.
India vix is calculated based on the annual percentage and hence the previous day close value of the scrip is divided by 19.1 ( square root of 365 )
The PDC values can be manually overridden for backtesting purposes.
Please note, there will be some slippages involved on the trend lines.
[KVA]Body Percentage Counter This indicator presents a comprehensive view of the historical candle data within user-defined body percentage ranges. Each column represents a specific body size percentage threshold, starting from as low as 0.01% and extending up to 20%.
The rows categorize candles by their closing and opening price differences, effectively sorting them into green (bullish) and red (bearish) candles based on whether they closed higher or lower than their opening prices.
First Row of the table is the bu
For developers, this table can be immensely useful in determining stop-loss ranges. By analyzing the frequency of candles that fall within certain body percentage ranges, developers can better understand where to set stop-loss orders. For instance, if a developer notices a high frequency of candles with body sizes within a specific percentage range, they may choose to set their stop-loss orders outside of this range to avoid being stopped out by normal market fluctuations.
Moreover, the indicator can be used to:
Volatility Assessment : The indicator can be used to gauge market volatility. Smaller bodies may indicate consolidation periods, while larger bodies might suggest more volatile market conditions.
Optimize Trading Strategies : Adjust entry and exit points based on the prevalence of certain candle sizes.
Risk Management : Determine the commonality of price movements within a certain range to better manage risks.
Backtesting : Use historical data to backtest how different stop-loss ranges would have performed in the past.
Comparative Analysis : Traders can compare the frequency of different body sizes over a selected period, providing insights into how the market is evolving.
Educational Use : For new traders, the indicator can serve as an educational tool to understand the implications of candlestick sizes and their relationship with market dynamics
The data provided in this output can guide developers to make more informed decisions about where to place stop-loss orders, potentially increasing the effectiveness of their trading algorithms or manual trading strategies.
The output of the " Body Percentage Counter" indicator is organized into a table format, which can be broken down as follows:
Header (First Row) : This row lists the body percentage thresholds used to categorize the candles. It starts from 0.01% and increases incrementally to 20%. These thresholds are likely set by the user and represent the range of candle body sizes as a percentage of the total candle size.
Green Candle Count (Second Row) : This row displays the count of green candles—candles where the close price is higher than the open price—that fall within each body percentage threshold. For example, under the column "0.01", the number 25 indicates there are 25 green candles whose body size is 0.01% of the total candle size.
Red Candle Count (Third Row) : This row shows the count of red candles—candles where the close price is lower than the open price—for each body percentage threshold. The numbers in this row reflect the number of red candles that match the body percentage criteria in the corresponding column.
Total Candle Count (Fourth Row) : This row sums the counts of both green and red candles for each body percentage threshold, providing a total count of candles that have a body size within the specific range. For instance, if under "0.01" the green count is 25 and the red count is 26, then the total would be 51.
This organized data representation allows users to quickly assess the distribution of candle body sizes over a historical period, which is especially useful for determining the frequency of price movements that are significant enough to consider for stop-loss settings or other trade management decisions.
Trend Pinbar PT49 by CuancuanIdea Behind:
Buying the short-term trend that shows a pin-bar candlestick pattern. Meant to be traded on a daily chart / higher timeframe.
To determine the short-term trend we use short EMA such as 8-16-30 and check the slope of each one, and definitely, the shorter one must be above the longer one for an uptrend. Vice versa for a downtrend.
To determine a pin-bar candlestick, I calculate that the body size (open to close) is at maximum a-third of the candle size (high to low). Besides that, I ensure that the close of the candle is above the shortest MA for bullish and below it for bearish.
As extra filters to reduce trade numbers:
1. Longer MA Filter = You can turn it off if you think the higher timeframe filter is unnecessary.
2. Slope Filter = To ensure the slope of the shorter MA is steeper rather than the mid-MA.
3. Size Filter = To check whether the overall candle size (high to low) is bigger than the ATR number. When the size filter is turned on, it removes small insignificant candles.
PS: Don't trade anything live unless you find it comfortable after backtesting it by yourself .
Strong Pullback Indicator [Rami_LB]Strong Pullback Indicator
Description:
The Strong Pullback Indicator is designed to identify potential pullbacks or even trend reversals by utilizing a specific candlestick pattern in conjunction with the Relative Strength Index (RSI). It is advised to employ this indicator in chart intervals of 15 minutes or higher, as intervals below 15 minutes may generate excessive false signals.
Working Mechanism:
Upon detecting the designated candlestick pattern, the indicator examines whether any of the last five candles exhibit RSI values below 30 or above 70 across at least four distinct time intervals, depending on whether the pattern is bullish or bearish. The RSI calculations incorporate eight different intervals: 1 minute (1m), 5 minutes (5m), 15 minutes (15m), 30 minutes (30m), 1 hour (1h), 2 hours (2h), 4 hours (4h), and 1 day (1d). An arrow is rendered above or below the current candle only when these conditions are met.
Users have the option to adjust the number of overbought or oversold intervals, as well as the general settings for the RSI.
SL/TP Lines:
The indicator can also serve as a trade signal to initiate trades in the opposite direction. To evaluate the potential success of a trade in a backtesting scenario, SL (Stop Loss) and TP (Take Profit) lines can be displayed on the chart. The SL is calculated by taking the distance from the close of the current candle to the high/low of the previous candle and multiplying it by 2.
In the settings, you can alter the Risk Reward Ratio (RRR) of the trade. Given the pullback nature of this indicator, a RRR of 1:1 is deemed logical, thus set as the default value.
Bullish vs. Bearish Candle Counter:
An additional feature of this indicator is its ability to analyze the last 100 candles to ascertain the ratio of bullish to bearish candles. When a 60% threshold is reached, the chart background color alters accordingly. This feature was conceived after a thorough analysis of over 50,000 candles of a currency pair revealed nearly identical counts of bullish and bearish candles, suggesting a market tendency to maintain this balance.
Within the settings, you have the flexibility to modify the number of candles to be analyzed and the percentage threshold for each candle type.
Should you have any ideas on how to enhance the accuracy of this indicator, or suggestions for other indicators that could improve the signals, feel free to leave a comment.
TradingView.To Strategy Template (with Dyanmic Alerts)Hello traders,
If you're tired of manual trading and looking for a solid strategy template to pair with your indicators, look no further.
This Pine Script v5 strategy template is engineered for maximum customization and risk management.
Best part?
This Pine Script v5 template facilitates the dynamic construction of TradingView.TO alerts, sparing users the time and effort of mastering the TradingView.TO syntax and manually create alert commands.
This powerful tool gives much power to those who don't know how to code in Pinescript and want to automate their indicators' signals via TradingView.TO bot.
IMPORTANT NOTES
TradingView.TO is a trading bot software that forwards TradingView alerts to your brokers (examples: Binance, Oanda, Coinbase, Bybit, Metatrader 4/5, ...) for automating trading.
Many traders don't know how to create TradingView.TO dynamically-compatible alerts using the data from their TradingView scripts.
Traders using trading bots want their alerts to reflect the stop-loss/take-profit/trailing-stop/stop-loss to break options from your script and then create the orders accordingly.
This script showcases how to create TradingView.TO alerts dynamically.
TRADINGVIEW ALERTS
1) You'll have to create one alert per asset X timeframe = 1 chart.
Example: 1 alert for BTC/USDT on the 5 minutes chart, 1 alert for BTC/USDT on the 15-minute chart (assuming you want your bot to trade the BTC/USDT on the 5 and 15-minute timeframes)
2) Select the Order fills and alert() function calls condition
3) For each alert, the alert message is pre-configured with the text below
{{strategy.order.alert_message}}
Please leave it as it is.
It's a TradingView native variable that will fetch the alert text messages built by the script.
4) TradingView.TO uses webhook technology - setting a webhook URL from the alerts notifications tab is required.
KEY FEATURES
I) Modular Indicator Connection
* plug your existing indicator into the template.
* Only two lines of code are needed for full compatibility.
Step 1: Create your connector
Adapt your indicator with only 2 lines of code and then connect it to this strategy template.
To do so:
1) Find in your indicator where the conditions print the long/buy and short/sell signals.
2) Create an additional plot as below
I'm giving an example with a Two moving averages cross.
Please replicate the same methodology for your indicator, whether a MACD , ZigZag, Pivots , higher-highs, lower-lows or whatever indicator with clear buy and sell conditions.
//@version=5
indicator("Supertrend", overlay = true, timeframe = "", timeframe_gaps = true)
atrPeriod = input.int(10, "ATR Length", minval = 1)
factor = input.float(3.0, "Factor", minval = 0.01, step = 0.01)
= ta.supertrend(factor, atrPeriod)
supertrend := barstate.isfirst ? na : supertrend
bodyMiddle = plot(barstate.isfirst ? na : (open + close) / 2, display = display.none)
upTrend = plot(direction < 0 ? supertrend : na, "Up Trend", color = color.green, style = plot.style_linebr)
downTrend = plot(direction < 0 ? na : supertrend, "Down Trend", color = color.red, style = plot.style_linebr)
fill(bodyMiddle, upTrend, color.new(color.green, 90), fillgaps = false)
fill(bodyMiddle, downTrend, color.new(color.red, 90), fillgaps = false)
buy = ta.crossunder(direction, 0)
sell = ta.crossunder(direction, 0)
//////// CONNECTOR SECTION ////////
Signal = buy ? 1 : sell ? -1 : 0
plot(Signal, title = "Signal", display = display.data_window)
//////// CONNECTOR SECTION ////////
Important Notes
🔥 The Strategy Template expects the value to be exactly 1 for the bullish signal and -1 for the bearish signal
Now, you can connect your indicator to the Strategy Template using the method below or that one.
Step 2: Connect the connector
1) Add your updated indicator to a TradingView chart
2) Add the Strategy Template as well to the SAME chart
3) Open the Strategy Template settings, and in the Data Source field, select your 🔌Connector🔌 (which comes from your indicator)
Note it doesn’t have to be named 🔌Connector🔌 - you can name it as you want - however, I recommend an explicit name you can easily remember.
From then, you should start seeing the signals and plenty of other stuff on your chart.
🔥 Note that whenever you update your indicator values, the strategy statistics and visuals on your chart will update in real-time
II) BOT Risk Management:
- Max Drawdown:
Mode: Select whether the max drawdown is calculated in percentage (%) or USD.
Value: If the max drawdown reaches this specified value, set a value to halt the bot.
- Max Consecutive Days:
Use Max Consecutive Days BOT Halt: Enable/Disable halting the bot if the max consecutive losing days value is reached.
- Max Consecutive Days: Set the maximum number of consecutive losing days allowed before halting the bot.
- Max Losing Streak:
Use Max Losing Streak: Enable/Disable a feature to prevent the bot from taking too many losses in a row.
- Max Losing Streak Length: Set the maximum length of a losing streak allowed.
Margin Call:
- Use Margin Call: Enable/Disable a feature to exit when a specified percentage away from a margin call to prevent it.
Margin Call (%): Set the percentage value to trigger this feature.
- Close BOT Total Loss:
Use Close BOT Total Loss: Enable/Disable a feature to close all trades and halt the bot if the total loss is reached.
- Total Loss ($): Set the total loss value in USD to trigger this feature.
Intraday BOT Risk Management:
- Intraday Losses:
Use Intraday Losses BOT Halt: Enable/Disable halting the bot on reaching specified intraday losses.
Mode: Select whether the intraday loss is calculated in percentage (%) or USD.
- Max Intraday Losses (%): Set the value for maximum intraday losses.
Limit Intraday Trades:
- Use Limit Intraday Trades: Enable/Disable a feature to limit the number of intraday trades.
- Max Intraday Trades: Set the maximum number of intraday trades allowed.
Restart Intraday EA:
III) Order Types and Position Sizing
- Choose between market or limit orders.
- Set your position size directly in the template.
Please use the position size from the “Inputs” and not the “Properties” tab.
I know it's redundant. - the template needs this value from the "Inputs" tab to build the alerts, and the Backtester needs it from the "Properties" tab.
IV) Advanced Take-Profit and Stop-Loss Options
- Choose to set your SL/TP in either USD or percentages.
- Option for multiple take-profit levels and trailing stop losses.
- Move your stop loss to break even +/- offset in USD for “risk-free” trades.
V) Miscellaneous:
Retry order openings if they fail.
Order Types:
Select and specify order type and price settings.
Position Size:
Define the type and size of positions.
Leverage:
Leverage settings, including margin type and hedge mode.
Session:
Limit trades to specific sessions.
Dates:
Limit trades to a specific date range.
Trades Direction:
Direction: Specify the market direction for opening positions.
VI) Logger
The TradingView.TO commands are logged in the TradingView logger.
You'll find more information about it in this TradingView blog post .
WHY YOU MIGHT NEED THIS TEMPLATE
1) Transform your indicator into a TradingView.TO trading bot more easily than before
Connect your indicator to the template
Create your alerts
Set your EA settings
2) Save Time
Auto-generated alert messages for TradingView.TO.
I tested them all and checked with the support team what could/couldn’t be done.
3) Be in Control
Manage your trading risks with advanced features.
4) Customizable
Fits various trading styles and asset classes.
REQUIREMENTS
* Make sure you have your TradingView.TO account
* If there is any issue with the template, ask me in the comments section - I’ll answer quickly.
BACKTEST RESULTS FROM THIS POST
1) I connected this strategy template to a dummy Supertrend script.
I could have selected any other indicator or concept for this script post.
I wanted to share an example of how you can quickly upgrade your strategy, making it compatible with TradingView.TO.
2) The backtest results aren't relevant for this educational script publication.
I used realistic backtesting data but didn't look too much into optimizing the results, as this isn't the point of why I'm publishing this script.
This strategy is a template to be connected to any indicator - the sky is the limit. :)
3) This template is made to take 1 trade per direction at any given time.
Pyramiding is set to 1 on TradingView.
The strategy default settings are:
* Initial Capital: 100000 USD
* Position Size: 1%
* Commission Percent: 0.075%
* Slippage: 1 tick
* No margin/leverage used
ProfitView Strategy TemplateHello traders,
This script took me a full week of coding/testing, sweat, and tears - and I’m too nice as I’m giving it for free to the community.
If you're tired of manual trading and looking for a solid strategy template to pair with your indicators, look no further.
This Pine Script v5 strategy template is engineered for maximum customization and risk management.
Best part?
This Pine Script v5 template facilitates the dynamic construction of ProfitView alerts, sparing users the time and effort of mastering the ProfitView syntax and manually creating alert commands.
This powerful tool gives much power to those who don't know how to code in Pinescript and want to automate their indicators' signals via the ProfitView Chrome extension.
IMPORTANT NOTES
ProfitView is a trading bot software that forwards TradingView alerts to your brokers (examples: Binance, Oanda, Coinbase, Bybit, etc.) for automating trading.
Many traders don't know how to dynamically create ProfitView-compatible alerts using the data from their TradingView scripts.
Traders using trading bots want their alerts to reflect the stop-loss/take-profit/trailing-stop/stop-loss to break options from your script and then create the orders accordingly.
This script showcases how to create ProfitView alerts dynamically.
TRADINGVIEW ALERTS
1) You'll have to create one alert per asset X timeframe = 1 chart.
Example: 1 alert for EUR/USD on the 5 minutes chart, 1 alert for EUR/USD on the 15-minute chart (assuming you want your bot to trade the EUR/USD on the 5 and 15-minute timeframes)
2) Select the Order fills and alert() function calls condition
3) For each alert, the alert message is pre-configured with the text below
{{strategy.order.alert_message}}
Please leave it as it is.
It's a TradingView native variable that will fetch the alert text messages built by the script.
4) ProfitView doesn't use webhook technology, so setting a webhook URL from the alerts notifications tab is unnecessary.
KEY FEATURES
I) Modular Indicator Connection
* plug your existing indicator into the template.
* Only two lines of code are needed for full compatibility.
Step 1: Create your connector
Adapt your indicator with only 2 lines of code and then connect it to this strategy template.
To do so:
1) Find in your indicator where the conditions print the long/buy and short/sell signals.
2) Create an additional plot as below
I'm giving an example with a Two moving averages cross.
Please replicate the same methodology for your indicator, whether a MACD , ZigZag, Pivots , higher-highs, lower-lows or whatever indicator with clear buy and sell conditions.
//@version=5
indicator("Supertrend", overlay = true, timeframe = "", timeframe_gaps = true)
atrPeriod = input.int(10, "ATR Length", minval = 1)
factor = input.float(3.0, "Factor", minval = 0.01, step = 0.01)
= ta.supertrend(factor, atrPeriod)
supertrend := barstate.isfirst ? na : supertrend
bodyMiddle = plot(barstate.isfirst ? na : (open + close) / 2, display = display.none)
upTrend = plot(direction < 0 ? supertrend : na, "Up Trend", color = color.green, style = plot.style_linebr)
downTrend = plot(direction < 0 ? na : supertrend, "Down Trend", color = color.red, style = plot.style_linebr)
fill(bodyMiddle, upTrend, color.new(color.green, 90), fillgaps = false)
fill(bodyMiddle, downTrend, color.new(color.red, 90), fillgaps = false)
buy = ta.crossunder(direction, 0)
sell = ta.crossunder(direction, 0)
//////// CONNECTOR SECTION ////////
Signal = buy ? 1 : sell ? -1 : 0
plot(Signal, title = "Signal", display = display.data_window)
//////// CONNECTOR SECTION ////////
Important Notes
🔥 The Strategy Template expects the value to be exactly 1 for the bullish signal and -1 for the bearish signal
Now, you can connect your indicator to the Strategy Template using the method below or that one.
Step 2: Connect the connector
1) Add your updated indicator to a TradingView chart
2) Add the Strategy Template as well to the SAME chart
3) Open the Strategy Template settings, and in the Data Source field, select your 🔌Connector🔌 (which comes from your indicator)
Note it doesn’t have to be named 🔌Connector🔌 - you can name it as you want - however, I recommend an explicit name you can easily remember.
From then, you should start seeing the signals and plenty of other stuff on your chart.
🔥 Note that whenever you update your indicator values, the strategy statistics and visuals on your chart will update in real-time
II) BOT Risk Management:
- Max Drawdown:
Mode: Select whether the max drawdown is calculated in percentage (%) or USD.
Value: If the max drawdown reaches this specified value, set a value to halt the bot.
- Max Consecutive Days:
Use Max Consecutive Days BOT Halt: Enable/Disable halting the bot if the max consecutive losing days value is reached.
- Max Consecutive Days: Set the maximum number of consecutive losing days allowed before halting the bot.
- Max Losing Streak:
Use Max Losing Streak: Enable/Disable a feature to prevent the bot from taking too many losses in a row.
- Max Losing Streak Length: Set the maximum length of a losing streak allowed.
Margin Call:
- Use Margin Call: Enable/Disable a feature to exit when a specified percentage away from a margin call to prevent it.
Margin Call (%): Set the percentage value to trigger this feature.
- Close BOT Total Loss:
Use Close BOT Total Loss: Enable/Disable a feature to close all trades and halt the bot if the total loss is reached.
- Total Loss ($): Set the total loss value in USD to trigger this feature.
Intraday BOT Risk Management:
- Intraday Losses:
Use Intraday Losses BOT Halt: Enable/Disable halting the bot on reaching specified intraday losses.
Mode: Select whether the intraday loss is calculated in percentage (%) or USD.
- Max Intraday Losses (%): Set the value for maximum intraday losses.
Limit Intraday Trades:
- Use Limit Intraday Trades: Enable/Disable a feature to limit the number of intraday trades.
- Max Intraday Trades: Set the maximum number of intraday trades allowed.
Restart Intraday EA:
- Use Restart Intraday EA: Enable/Disable a feature to restart the bot at the first bar of the next day if it has been stopped with an intraday risk management safeguard.
III) Order Types and Position Sizing
- Choose between market, limit, or stop orders.
- Set your position size directly in the template.
Please use the position size from the “Inputs” and not the “Properties” tab.
I know it's redundant. - the template needs this value from the "Inputs" tab to build the alerts, and the Backtester needs it from the "Properties" tab.
IV) Advanced Take-Profit and Stop-Loss Options
- Choose to set your SL/TP in either pips or percentages.
- Option for multiple take-profit levels and trailing stop losses.
- Move your stop loss to break even +/- offset in pips for “risk-free” trades.
V) Miscellaneous
Retry order openings if they fail.
Order Types:
Select and specify order type and price settings.
Position Size:
Define the type and size of positions.
Leverage:
Leverage settings, including margin type and hedge mode.
Session:
Limit trades to specific sessions.
Dates:
Limit trades to a specific date range.
Trades Direction:
Direction: Specify the market direction for opening positions.
VI) Notifications (Telegram/Discord/Email/IFTTT/Twilio/SMS)
Customize notifications sent to Telegram, Discord, Email, IFTTT, Twilio, and ProfitView Logger.
VII) Logger
The ProfitView commands are logged in the TradingView logger.
You'll find more information about it in this TradingView blog post .
WHY YOU MIGHT NEED THIS TEMPLATE
1) Transform your indicator into a ProfitView trading bot more easily than before
Connect your indicator to the template
Create your alerts
Set your EA settings
2) Save Time
Auto-generated alert messages for ProfitView.
I tested them all and checked with the support team what could/couldn’t be done.
3) Be in Control
Manage your trading risks with advanced features.
4) Customizable
Fits various trading styles and asset classes.
REQUIREMENTS
* Make sure you have your ProfitView account and do the settings correctly in your Chrome extension. If you don't know how to do it, read the documentation + ask for help in the ProfitView Discord support channel.
* If there is any issue with the template, ask me in the comments section - I’ll answer quickly.
BACKTEST RESULTS FROM THIS POST
1) I connected this strategy template to a dummy Supertrend script.
I could have selected any other indicator or concept for this script post.
I wanted to share an example of how you can quickly upgrade your strategy, making it compatible with ProfitView.
2) The backtest results aren't relevant for this educational script publication.
I used realistic backtesting data but didn't look too much into optimizing the results, as this isn't the point of why I'm publishing this script.
This strategy is a template to be connected to any indicator - the sky is the limit. :)
3) This template is made to take 1 trade per direction at any given time.
Pyramiding is set to 1 on TradingView.
The strategy default settings are:
* Initial Capital: 100000 USD
* Position Size: 1%
* Commission Percent: 0.075%
* Slippage: 1 tick
* No margin/leverage used
Best regards,
Dave
Because Wicks Dont Lie" Because Wicks Don't Lie " is a specialized indicator designed to assist traders in identifying and visualizing significant candle wicks on any timeframe. Wicks, often referred to as Liquidity Targets, are areas that almost always get filled by price at some point. They can help map out the trajectory of price movement, acting as a magnet, drawing the price towards them. Recognizing these wicks can provide invaluable insights into potential trading opportunities and market sentiment.
We are looking for Candles with LONG Wick and TINY Candle Body! Only those types of Wicks have (according to my experience and backtesting) a 100% chance to get filled in the future.
Features:
Wick Visualization:
The script highlights significant bullish (blue) and bearish (red) wicks that meet specific criteria, helping you quickly spot potential trading opportunities.
VWAP Bands for Filtering Extremes:
The VWAP bands are incorporated to filter out wicks created at extreme price points. By ensuring that wicks are within a user-defined percentage of the VWAP (Volume Weighted Average Price), traders can avoid targeting extreme wicks that might take a longer time to get filled, thus enhancing the efficacy of strategies that trade towards wicks.
Alerts:
Traders can set alerts for when a significant bullish or bearish wick is detected, ensuring they never miss potential setups.
Usage:
Once applied to your chart, the script will automatically scan for significant wicks and display them with blue (bullish) and red (bearish) markers. By adjusting the script settings, users can customize the VWAP band percentage to fine-tune the filtering of extreme wicks.
Conclusion:
Wicks often contain valuable information about market sentiment, rejection of price levels, and potential future price direction. By acting as liquidity targets, they serve as indications of where the price is likely to move. "Because Wicks Don't Lie" simplifies the process of identifying these crucial candle formations and, with the inclusion of the VWAP bands, ensures that traders can prioritize the most actionable wicks while avoiding extreme outliers.
Input Fields:
Average Candle Size Multiplier:
This parameter allows users to adjust the base size of what the script considers as a significant wick. By multiplying the average size of candles over the last 4998 bars, users can fine-tune the script to detect only wicks of a certain prominence. A higher value will mean that only larger wicks (relative to recent price action) will be considered significant.
Wick Ratio (Wick Proportion Threshold):
This ratio helps determine the proportion of the wick to the entire candle for it to be considered significant. A higher ratio means that the wick must be a larger part of the total candle size to be marked as significant. It's an essential parameter to differentiate between candles with tiny wicks and those with substantial wicks which might offer trading opportunities.
Risk Reward Optimiser [ChartPrime]█ CONCEPTS
In modern day strategy optimization there are few options when it comes to optimizing a risk reward ratio. Users frequently need to experiment and go through countless permutations in order to tweak, adjust and find optimal in their data.
Therefore we have created the Risk Reward Optimizer.
The Risk Reward Optimizer is a technical tool designed to provide traders with comprehensive insights into their trading strategies.
It offers a range of features and functionalities aimed at enhancing traders' decision-making process.
With a focus on comprehensive data, it is there to help traders quickly and efficiently locate Risk Reward optimums for inbuilt of custom strategies.
█ Internal and external Signals:
The script can optimize risk to reward ratio for any type of signals
You can utilize the following :
🔸Internal signals ➞ We have included a number of common indicators into the optimizer such as:
▫️ Aroon
▫️ AO (Awesome Oscillator)
▫️ RSI (Relative Strength Index)
▫️ MACD (Moving Average Convergence Divergence)
▫️ SuperTrend
▫️ Stochastic RSI
▫️ Stochastic
▫️ Moving averages
All these indicators have 3 conditions to generate signals :
Crossover
High Than
Less Than
🔸External signal
▫️ by incorporating your own indicators into the analysis. This flexibility enables you to tailor your strategy to your preferences.
◽️ How to link your signal with the optimizer:
In order to be able to analysis your signal we need to read it and to do so we would need to PLOT your signal with a defined value
plot( YOUR LONG Condition ? 100 : 0 , display = display.data_window)
█ Customizable Risk to Reward Ratios:
This tool allows you to test seven different customizable risk to reward ratios , helping you determine the most suitable risk-reward balance for your trading strategy. This data-driven approach takes the guesswork out of setting stop-loss and take-profit levels.
█ Comprehensive Data Analysis:
The tool provides a table displaying key metrics, including:
Total trades
Wins
Losses
Profit factor
Win rate
Profit and loss (PNL)
This data is essential for refining your trading strategy.
🔸 It includes a tooltip for each risk to reward ratio which gives data for the:
Most Profitable Trade USD value
Most Profitable Trade % value
Most Profitable Trade Bar Index
Most Profitable Trade Time (When it occurred)
Position and size is adjustable
█ Visual insights with histograms:
Visualize your trading performance with histograms displaying each risk to reward ratio trade space, showing total trades, wins, losses, and the ratio of profitable trades.
This visual representation helps you understand the strengths and weaknesses of your strategy.
It offers tooltips for each RR ratio with the average win and loss percentages for further analysis.
█ Dynamic Highlighting:
A drop-down menu allows you to highlight the maximum values of critical metrics such as:
Profit factor
Win rate
PNL
for quick identification of successful setups.
█ Stop Loss Flexibility:
You can adjust stop-loss levels using three different calculation methods:
ATR
Pivot
VWAP
This allows you to align risk-reward ratios with your preferred risk tolerance.
█ Chart Integration:
Visualize your trades directly on your price chart, with each trade displayed in a distinct color for easy tracking.
When your take-profit (TP) level is reached , the tool labels the corresponding risk-reward ratio for that specific TP, simplifying trade management.
█ Detailed Tooltips:
Tooltips provide deeper insights into your trading performance. They include information about the most profitable trade, such as the time it occurred, the bar index, and the percentage gain. Histogram tooltips also offer average win and loss percentages for further analysis.
█ Settings:
█ Code:
In summary, the Risk Reward Optimizer is a data-driven tool that offers traders the ability to optimize their risk-reward ratios, refine their strategies, and gain a deeper understanding of their trading performance. Whether you're a day trader, swing trader, or investor, this tool can help you make informed decisions and improve your trading outcomes.
Heatmap MACD Strategy - Pineconnector (Dynamic Alerts)Hello traders
This script is an upgrade of this template script.
Heatmap MACD Strategy
Pineconnector
Pineconnector is a trading bot software that forwards TradingView alerts to your Metatrader 4/5 for automating trading.
Many traders don't know how to dynamically create Pineconnector-compatible alerts using the data from their TradingView scripts.
Traders using trading bots want their alerts to reflect the stop-loss/take-profit/trailing-stop/stop-loss to breakeven options from your script and then create the orders accordingly.
This script showcases how to create Pineconnector alerts dynamically.
Pineconnector doesn't support alerts with multiple Take Profits.
As a workaround, for 2 TPs, I had to open two trades.
It's not optimal, as we end up paying more spreads for that extra trade - however, depending on your trading strategy, it may not be a big deal.
TradingView Alerts
1) You'll have to create one alert per asset X timeframe = 1 chart.
Example : 1 alert for EUR/USD on the 5 minutes chart, 1 alert for EUR/USD on the 15-minute chart (assuming you want your bot to trade the EUR/USD on the 5 and 15-minute timeframes)
2) For each alert, the alert message is pre-configured with the text below
{{strategy.order.alert_message}}
Please leave it as it is.
It's a TradingView native variable that will fetch the alert text messages built by the script.
3) Don't forget to set the webhook URL in the Notifications tab of the TradingView alerts UI.
EA configuration
The Pyramiding in the EA on Metatrader must be set to 2 if you want to trade with 2 TPs => as it's opening 2 trades.
If you only want 1 TP, set the EA Pyramiding to 1.
Regarding the other EA settings, please refer to the Pineconnector documentation on their website.
Logger
The Pineconnector commands are logged in the TradingView logger.
You'll find more information about it from this TradingView blog post
Important Notes
1) This multiple MACDs strategy doesn't matter much.
I could have selected any other indicator or concept for this script post.
I wanted to share an example of how you can quickly upgrade your strategy, making it compatible with Pineconnector.
2) The backtest results aren't relevant for this educational script publication.
I used realistic backtesting data but didn't look too much into optimizing the results, as this isn't the point of why I'm publishing this script.
3) This template is made to take 1 trade per direction at any given time.
Pyramiding is set to 1 on TradingView.
The strategy default settings are:
Initial Capital: 100000 USD
Position Size: 1 contract
Commission Percent: 0.075%
Slippage: 1 tick
No margin/leverage used
For example, those are realistic settings for trading CFD indices with low timeframes but not the best possible settings for all assets/timeframes.
Concept
The Heatmap MACD Strategy allows selecting one MACD in five different timeframes.
You'll get an exit signal whenever one of the 5 MACDs changes direction.
Then, the strategy re-enters whenever all the MACDs are in the same direction again.
It takes:
long trades when all the 5 MACD histograms are bullish
short trades when all the 5 MACD histograms are bearish
You can select the same timeframe multiple times if you don't need five timeframes.
For example, if you only need the 30min, the 1H, and 2H, you can set your timeframes as follow:
30m
30m
30m
1H
2H
Risk Management Features
All the features below are pips-based.
Stop-Loss
Trailing Stop-Loss
Stop-Loss to Breakeven after a certain amount of pips has been reached
Take Profit 1st level and closing X% of the trade
Take Profit 2nd level and close the remaining of the trade
Custom Exit
I added the option ON/OFF to close the opened trade whenever one of the MACD diverges with the others.
Help me help the community
If you see any issue when adding your strategy logic to that template regarding the orders fills on your Metatrader, please let me know in the comments.
I'll use your feedback to make this template more robust. :)
What's next?
I'll publish a more generic template built as a connector so you can connect any indicator to that Pineconnector template.
Then, I'll publish a template for Capitalise AI, ProfitView, AutoView, and Alertatron.
Thank you
Dave
Heatmap MACD StrategyHello traders
A customer gave me the idea indirectly after I made an update to that script:
Supertrend MTF Heatmap
Important Notes
The backtest results aren't relevant for this educational script publication.
I used realistic backtesting data but didn't look too much into optimizing the results, as this isn't the point of why I'm publishing this script.
I wanted to showcase that any Heatmap script can be converted into a strategy.
The strategy default settings are:
Initial Capital: 100000 USD
Position Size: 1 contract
Commission Percent: 0.075%
Slippage: 1 tick
No margin/leverage used
For example, those are realistic settings for trading CFD indices with low timeframes, but not the best possible settings for all assets/timeframes.
Concept
The Heatmap MACD Strategy allows selecting one MACD in five different timeframes.
You'll get an exit signal whenever one of the 5 MACDs changes direction.
Then, the strategy re-enters whenever all the MACDs are in the same direction again.
It takes:
long trades when all the 5 MACD histograms are bullish
short trades when all the 5 MACD histograms are bearish
You can select the same timeframe multiple times if you don't need five timeframes.
For example, if you only need the 30min, the 1H, and 2H, you can set your timeframes as follow:
30m
30m
30m
1H
2H
Risk Management Features
Nothing too fancy
All the features below are pips-based
Stop-Loss
Trailing Stop-Loss
Stop-Loss to Breakeven after a certain amount of pips has been reached
Take Profit 1st level and closing X% of the trade
Take Profit 2nd level and close the remaining of the trade
What's next?
I'll publish this script's open-source Pineconnector, ProfitView, and AutoView versions for educational purposes.
Thank you
Dave
BTC hash rate oscillatorOVERVIEW:
This script looks to identify entry point opportunities when moving averages over Bitcoin's hash rate are indicative of Miner capitulation. The script implements an oscillator based on Charles Capriole's "Hash Ribbons & Bitcoin Bottoms" concept. It analyses the short-term and long-term moving averages of Bitcoin's hash rate and then identifies potential entry opportunities from this.
KEY FEATURES:
Signal Generation: The script identifies entry points when the short-term moving average crosses under the long-term moving average and the rate of change falls below a specified threshold. These conditions suggest potential trading opportunities.
Historical Signals: Optionally the script displays historical signals, indicating past instances where hash rate conditions suggested favourable entry points. Users can also assess the script's historical performance.
USAGE:
The generated opportunities can be used as potential entry points for BTC. The script provides visual cues on the chart (blue labels above the miner capitulation zones) for identification of signals. Customisable moving average lengths and threshold values are supported, which allow adaptation to various strategies.
CONSIDERATIONS:
Validation: It's recommended that careful backtesting over historical data be done before acting on any identified opportunities.
User Discretion: Trading decisions should not rely solely on this script. Users should exercise their judgment and consider market conditions.
Note: This script identifies opportunities based on historical data and should be used with caution, as past performance is not indicative of future results.
Z-ScoreDescription:
The Z-Score indicator is a powerful tool for assessing the relative position of a financial instrument's current price compared to its historical price data. It calculates the Z-Score, which is a statistical measure of how many standard deviations an asset's current price is away from its historical mean. This can help traders identify overbought and oversold conditions in the market.
Input Parameters:
Length: This parameter sets the look-back period for calculating the mean and standard deviation. It is set to 20 by default but can be adjusted according to your trading preferences.
How it works:
The indicator first calculates the mean (average) and standard deviation of the selected price source (default: closing prices) over the specified length.
The Z-Score is then computed by measuring how many standard deviations the current price is away from the mean. This value is plotted on the chart, providing insight into the current price's relative position.
Usage:
Overbought: When the Z-Score rises above the upper threshold (e.g., +2 standard deviations, shown in red), it suggests that the asset's price is significantly above its historical average, indicating a potential overbought condition. Traders might consider this as a signal to be cautious about entering long positions or to look for potential short opportunities.
Oversold: Conversely, when the Z-Score falls below the lower threshold (e.g., -2 standard deviations, shown in green), it suggests that the asset's price is significantly below its historical average, indicating a potential oversold condition. Traders might consider this as a signal to be cautious about entering short positions or to look for potential long opportunities.
The Z-Score indicator can be a valuable addition to your technical analysis toolkit, helping you make informed trading decisions based on statistical price deviations.
Please make sure to conduct thorough backtesting and combine this indicator with other analysis techniques before making any trading decisions.
Session CandlesThis indicator is designed to visually represent different trading sessions on a price chart, highlighting candlestick colors to distinguish between bullish (upward movement) and bearish (downward movement) trends during various market sessions. Here's an overview of how the indicator works:
1. Session Definition: The indicator defines four distinct trading sessions:
- London Session: Typically covering the European trading hours.
- New York AM Session: Representing the morning hours of the New York trading session.
- New York PM Session: Representing the afternoon hours of the New York trading session.
- Asia Session: Encompassing the trading hours of the Asian markets.
2. Configuration Options: Users can customize the behavior of the indicator through input options. For each session, users can enable or disable the display of session-specific candles.
3. Candle Coloring: The indicator determines the color of candles based on the following criteria:
- For each session, it checks whether the current candle's closing price is higher than its opening price.
- If the closing price is higher, the candle is considered bullish, and a user-defined green color is used for the candle.
- If the closing price is lower, the candle is considered bearish, and a user-defined red color is applied.
4. Display: The indicator then applies the calculated candle colors to the respective candles of each trading session on the price chart. This visual distinction helps traders quickly identify the prevailing trend during different market sessions.
To use the indicator, traders can overlay it on their price charts in TradingView. By enabling or disabling specific trading sessions, they can focus on the trends and price movements during those specific time periods.
Please note that the actual appearance of the indicator on the chart depends on the user's chosen settings for session enablement and color preferences.
