Trend Persistence Rate Indicator [CC]The Trend Persistence Rate Indicator was created by Richard Poster (Stocks and Commodities Feb 2021 pg 12) and this indicator is a good trend strength indicator similar to ADX. A good strategy with this indicator according to the author is to combine this with a moving average crossover strategy and a volatility indicator. Buy when the price crosses over the moving average and when the volatility and this indicator are over a selected minimum. I think 30-40 as a minimum for this indicator works well. Exit that position when this indicator peaks and starts to go down and it should be very profitable for you. I have included general buy and sell signals with this indicator as well.
Let me know if there are any other indicators you would like to see me publish!
Cerca negli script per "profitable"
Bollinger Band Width PercentileIntroducing the Bollinger Band Width Percentile
Definitions :
Bollinger Band Width Percentile is derived from the Bollinger Band Width indicator.
It shows the percentage of bars over a specified lookback period that the Bollinger Band Width was less than the current Bollinger Band Width.
Bollinger Band Width is derived from the Bollinger Bands® indicator.
It quantitatively measures the width between the Upper and Lower Bands of the Bollinger Bands.
Bollinger Bands® is a volatility-based indicator.
It consists of three lines which are plotted in relation to a security's price.
The Middle Line is typically a Simple Moving Average.
The Upper and Lower Bands are typically 2 standard deviations above, and below the SMA (Middle Line).
Volatility is a statistical measure of the dispersion of returns for a given security or market index, measured by the standard deviation of logarithmic returns.
The Broad Concept :
Quoting Tradingview specifically for commonly noted limitations of the BBW indicator which I have based this indicator on....
“ Bollinger Bands Width (BBW) outputs a Percentage Difference between the Upper Band and the Lower Band.
This value is used to define the narrowness of the bands.
What needs to be understood however is that a trader cannot simply look at the BBW value and determine if the Band is truly narrow or not.
The significance of an instruments relative narrowness changes depending on the instrument or security in question.
What is considered narrow for one security may not be for another.
What is considered narrow for one security may even change within the scope of the same security depending on the timeframe.
In order to accurately gauge the significance of a narrowing of the bands, a technical analyst will need to research past BBW fluctuations and price performance to increase trading accuracy. ”
Here I present the Bollinger Band Width Percentile as a refinement of the BBW to somewhat overcome the limitations cited above.
Much of the work researching past BBW fluctuations, and making relative comparisons is done naturally by calculating the Bollinger Band Width Percentile.
This calculation also means that it can be read in a similar fashion across assets, greatly simplifying the interpretation of it.
Plotted Components of the Bollinger Band Width Percentile indicator :
Scale High
Mid Line
Scale Low
BBWP plot
Moving Average 1
Moving Average 2
Extreme High Alert
Extreme Low Alert
Bollinger Band Width Percentile Properties:
BBWP Length
The time period to be used in calculating the Moving average which creates the Basis for the BBW component of the BBWP.
Basis Type
The type of moving average to be used as the Basis for the BBW component of the BBWP.
BBWP Lookback
The lookback period to be used in calculating the BBWP itself.
BBWP Plot settings
The BBWP plot settings give a choice between a user defined solid color, and a choice of "Blue Green Red", or "Blue Red" spectrum palettes.
Moving Averages
Has 2 Optional User definable and adjustable moving averages of the BBWP.
Visual Alerts
Optional User adjustable High and low Signal columns.
How to read the BBWP :
A BBWP read of 95 % ... means that the current BBW level is greater than 95% of the lookback period.
A BBWP read of 5 % .... means that the current BBW level is lower than 95% of the lookback period.
Proposed interpretations :
When the BBWP gets above 90 % and particularly when it hits 100% ... this can be a signal that volatility is reaching a maximum and that a macro High or Low is about to be set.
When the BBWP gets below 10 % and particularly when it hits 0% ...... this can be a signal that volatility is reaching a minimum and that there could be a violent range breakout into a trending move.
When the BBWP hits a low level < 5 % and then gets above its moving average ...... this can be an early signal that a consolidation phase is ending and a trending move is beginning.
When the BBWP hits a high level > 95 % and then falls below its moving average ... this can be an early signal that a trending move is ending and a consolidation phase is beginning.
Essential knowledge :
The BBWP was designed with the daily timeframe in mind, but technical analysists may find use for it on other time frames also.
High and Low BBWP readings do not entail any direction bias.
Deeper Concepts :
In finance, “mean reversion” is the assumption that a financial instrument's price will tend to move towards the average price over time.
If we apply that same logic to volatility as represented here by the Bollinger band width percentile, the assumption is that the Bollinger band width percentile will tend to contract from extreme highs, and expand from extreme lows over time corresponding to repeated phases of contraction and expansion of volatility.
It is clear that for most assets there are periods of directional trending behavior followed by periods of “consolidation” ( trading sideways in a range ).
This often ends with a tightening range under reducing volume and volatility ( popularly known as “the squeeze” ).
The squeeze typically ends with a “breakout” from the range characterized by a rapid increase in volume, and volatility when price action again trends directionally, and the cycle repeats.
Typical Use Cases :
The Bollinger Band Width Percentile may be especially useful for Options traders, as it can provide a bias for when Options are relatively expensive, or inexpensive from a Volatility (Vega) perspective.
When the Bollinger Band Width Percentile is relatively high ( 85 percentile or above ) it may be more advantageous to be a net seller of Vega.
When the Bollinger Band Width Percentile is relatively low ( 15 percentile or below ) it may be advantageous to be net long Vega.
Here we examine a number of actionable signals on BTCUSD daily timeframe using the BBWP and a momentum oscillator ( using the TSI here but can equally be used with Bollinger bands, moving averages, or the traders preferred momentum oscillator ).
In this first case we will examine how a spot trader and an options trader could each use a low BBWP read to alert them to a good potential trade setup.
note: using a period of 30 for both the Bollinger bands and the BBWP period ( approximately a month ) and a BBWP lookback of 350 ( approximately a year )
As we see the Bollinger Bands have gradually contracted while price action trended down and the BBWP also fell consistently while below its moving average ( denoting falling volatility ) down to an extremely low level <5% until it broke above its moving average along with a break of range to the upside ( signaling the end of the consolidation at a low level and the beginning of a new trending move to the upside with expanding volatility).
In this next case we will continue to follow the price action presuming that the traders have taken or locked in profit at reasonable take profit levels from the previous trade setup.
Here we see the contraction of the Bollinger bands, and the BBWP alongside price action breaking below the BB Basis giving a warning that the trending move to the upside is likely over.
We then see the BBWP rising and getting above its moving average while price action fails to get above the BB Basis, likewise the TSI fails to get above its signal line and actually crosses below its zeroline.
The trader would normally take this as a signal that the next trending move could be to the downside.
The next trending move turns out to be a dramatic downside move which causes the BBWP to hit 100% signaling that volatility is likely to hit a maximum giving good opportunities for profitable trades to the skilled trader as outlined.
Limitations :
Here we will look at 2 cases where blindly taking BBWP signals could cause the trader to take a failed trade.
In this first example we will look at blindly taking a low volatility options trade
Low Volatility and corresponding low BBWP levels do not automatically mean there has to be expansion immediately, these periods of extreme low volatility can go on for quite some time.
In this second example we will look at blindly taking a high volatility spot short trade
High volatility and corresponding high BBWP levels do not automatically mean there has to be a macro high and contraction of volatility immediately, these periods of extreme high volatility can also go on for quite some time, hence the famous saying "The trend is your friend until the end of the trend" and lesser well known, but equally valid saying "never try to short the top of a parabolic blow off top"
Markets are variable and past performance is no guarantee of future results, this is not financial advice, I am not a financial advisor.
Final thoughts
The BBWP is an improvement over the BBW in my opinion, and is a novel, and useful addition to a Technical Analysts toolkit.
It is not a standalone indicator and is meant to be used in conjunction with other tools for direction bias, and Good Risk Management to base sound trades off.
John Bollinger has suggested using Bolliger bands, and its related indicators with two or three other non-correlated indicators that provide more direct market signals.
He believes it is crucial to use indicators based on different types of data.
Some of his favored technical techniques are moving average divergence/convergence (MACD), on-balance volume and relative strength index (RSI).
Thanks
Massive respect to John Bollinger, long-time technician of the markets, and legendary creator of both the Bollinger Bands® in the 1980´s, and the Bollinger band Width indicator in 2010 which this indicator is based on.
His work continues to inspire, decades after he brought the original Bollinger Bands to the market.
Much respect also to Eric Crown who gave me the fundamental knowledge of Technical Analysis, and Options trading.
Percentile Rank Market FilterA simple script to filter bull and bear markets by using percentile rank filter. Using market regimes to filter by bull/bear/sideways markets helps to understand how your strategy will
behave in various market regimes and allows you to avoid unprofitable regimes and only trade in profitable ones.
The idea of market regime filtering is used in the most successful technical algorithmic trading strategies, as one should always design a trading strategy with a particular market in mind according to trading legend, Larry Connors
Feel free to use this script in your strategies to improve your profits and lower drawdowns.
Bollinger Blast Buy Unholy GrailThis strategy copy the Nick Radge's trading ideas for a profitable systems. He mentions a Bollinger Band idea which is also published in his book Unholy Grails. Nick says:
he strategy that we did test and showed very promising results was an entry using a Bollinger band and an exit using the opposite Bollinger band, but we use 3 standard deviations for the entry and 1 standard deviation for the exit, just to keep the trailing stop a little bit tighter.”
Entry: Buy on the Open the day after a stock closes above the top Bollinger Band
Exit: Exit on the Open the day after a stock closes below the lower Bollinger Band
Results tested on Nasdaq market are very good and better than simply buy& hold
RSI Trend Indicator [paRSI]The Relative Strength Index ( RSI ) is a measurement used by traders to assess the price momentum. It is scaled from 0 to 100. when RSI reads below 30, it is usually interpreted as oversold and when RSI is above 70 it is usually interpreted as overbought. However, it is usually not profitable to trade based on overbought and oversold signal.
RSI Trend Indicator or as I like to call it "paRSI" ("Parsa (my name) + RSI") shows that when RSI is above a specific number (default value = 60) it indicates bullish trend and when RSI is below a specific number (default value = 40 ) it indicates bearish trend. Lastly when RSI is below the 2 specified numbers it indicates a neutral trend.
I don't recommend trading based on this single indicator. If you're a trend trader this might be useful tool in addition to your own strategy
Usage:
If the created pattern has worked previously on the chart, you could enter on the first stages of the green or red section (depending on the market's trend).
It is not recommended to trade in any direction when there is no color
*THIS IS A TREND FOLLOWING STRATEGY AND DOES NOT WORK ON ALL MARKETS*
Excitement - Crypto Surfer v1For those of us who need more excitement in our crypto journey besides just HODL, here’s a simple crypto robot that trades on the hourly (1H) candles. I call it the Crypto Surfer because it uses the 20 and 40 EMAs (Exponential Moving Averages) to decide when to enter and exit; price tends to “surf” above these EMAs when it is bullish, and “sink” below these EMAs when it is bearish. An additional 160 SMA (Simple Moving Average) with slope-angle detection, was added as a bull / bear filter to reduce the sting of drawdowns, by filtering-out long trades in a prolonged bear market.
USER NOTES:
- This script will buy $10,000 USD worth of crypto-currency per trade.
- It will only open one trade at a time.
- It has been backtested on all the high market cap coins such as Bitcoin, Ethereum, Binance Coin, Polkadot, Cardano.
- It should be run on the Hourly (H1) chart.
- In general, this moving average strategy *should be* profitable for 80% to 90% of the coins out there
- The 160 SMA filter with slope angle detection is designed to stop you from going long in a bear market.
- It is recommended you copy this script and modify it to suit your preferred coin during backtesting, before running live.
- Trading is inherently risky (exciting), and I shall not be liable for any losses you incur, even if these losses are due to sampling bias.
TV Community AlgoTV Community Algo is a free TradingView script that I designed from the ground to benefit the traders of this community. It has plenty of features that you will enjoy, and I have included documentation for how to use this below!
Settings:
Basic:
Turn the Void Lines on or off
Turn the Dashboard on or off
Turn the Signal Bars on or off
Turn the Support & Resistance Lines on or off
Turn the EMA 8 and EMA 200 on or off
Turn the Buy & Sell Signals on or off
Turn the Fibonacci Retracement Tool on or off
Style:
Change the Dashboard's distance from the price action
Change the Dashboard's Color and Transparency
Change the Dashboard Text Color
Change the Fibonacci Deviation
Make the Fibonacci Retracement Tool reverse
Make the Fibonacci Lines extend left, right, both directions, or none
Turn Fibonacci Prices on or off
Turn Fibonacci Levels on or off and change between percent or value
Change Fibonacci Label Position from the left or the right
Usage:
This algo has many uses including but not limited to:
Finding entries and exits using the EMA 8 and EMA 200 crossovers
Using the Void Lines to identify bounces or reversals
Using the Signal Bars to identify trend and confirmation for entries and exits
Using the Dashboard information for confirmation and informational purposes
In the images below, I give a few examples of the many uses of the TV Community Algo!
VOID LINES
The Void Lines are very helpful when it comes to identifying reversals.
TV COMMUNITY ALGO DASHBOARD
The Dashboard is filled with useful information that all traders can benefit from!
SIGNAL BARS
The colored candles known as Signal Bars inform you of when the price action is above or below the midpoint of the Void Lines.
AUTO SUPPORT & RESISTANCE LINES
These lines help traders find accurate levels of support & resistance on all time frames, and the lines change color depending on if the price is above or below them.
EMA 8 AND 200
The EMA 8 and EMA 200 crossovers can be used as entry and exit signals.
BUY & SELL SIGNALS
The BUY & SELL signals can be used to find optimal entries and exits for trades on any time frame. Smaller time frames are best for scalping, while larger time frames are more suited for longer trades. When combined with the EMA lines and Dashboard information, these signals can produce incredibly profitable trades.
AUTO FIBONACCI RETRACEMENT TOOL
The Auto Fibonacci Retracement Tool allows you to plot perfect Fib Lines every time.
Conclusion:
I truly hope that the TV Community Algo benefits the TradingView community and that you all find some value in it. I worked very hard on this product and I would love to see it put to good use.
with love,
-Lemon 🍋
This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) creativecommons.org
RSKYVNThis indicator is a combination of ema and sma which is good for trend analysis.
I put buy and sell signal in this indicator for an easy entry and exit.
How to use it?
First check our ma100. Ma100 shows trend analysis whether we are (uptrend and downtrend).
Second just wait for our biuy and sell signal.
This is profitable when ma100 is under our sma and ema region. So always wait that ma100 dive under ema and ma regions to enter a trade.
Disclaimer: This indicator is only good when there is a trend. The only flaw of this is when market is consolidating if that the case just switch to a support and resistance or fibonacci for entry and exit.
Always remember manage your own risk
Scalping Dips On Trend (by Coinrule)Coinrule's Community is an excellent source of inspiration for our trading strategies.
In these months of Bull Market, our traders opted mostly on buy-the-dips strategies, which resulted in great returns recently. But there has been an element that turned out to be the cause for deep division among the Community.
Is it advisable or not to use a stop-loss during a Bull Market?
This strategy comes with a large stop-loss to offer a safer alternative for those that are not used to trade with a downside protection.
Entry
The strategy buys only when the price is above the Moving Average 50 , making it less risky to buy the dip, which is set to 2%.
The preferred time frame is 1-hour.
The stop-loss is set to be quite loose to increase the chances of closing the trade in profit, yet protecting from unexpected larger drawdowns that could undermine the allocation's liquidity.
Exit
Stop loss: 10%
Take Profit: 3%
In times of Bull Market, such a trading system has a very high percentage of trades closed in profit (ranging between 70% to 80%), which makes it still overall profitable to have a stop-loss three times larger than the take profit.
Pro tip: use a larger stop-loss only when you expect to close in profit most of the trades!
The strategy assumes each order to trade 30% of the available capital and opens a trade at a time. A trading fee of 0.1% is taken into account.
RSI+PA+DCA StrategyDear Tradingview community,
This RSI based trading strategy is created as a training exercise. I am not a professional trader, but a committed hobbyist. This not a finished trading strategy meant for trading, but more a combination of different trading ideas I liked to explore deeper. The aim with this exercise was to gain more knowledge and understanding about price averaging and dollar cost averaging strategies. Aside that I wanted to learn how to program a pyramiding strategy, how to plot different order entry layers and how to open positions on a specific time interval.
In this script I adapted code from a couple of strategy examples by Coinrule . Who wrote simple and powerful examples of RSI based strategies and pyramiding strategies.
Also the HOWTO scripts shared by vitvlkv were very helpful for this exercise. In the script description you can find all the sources to the code.
A PA strategy could be a helpful addition to ease the 'stress-management to buy when price drops and resolution in selling when the price is rising' (Coinrule).
The idea behind the strategy is fairly simple and is based on an RSI strategy of buying low. A position is entered when the RSI and moving average conditions are met. The position is closed when it reaches a specified take profit percentage. As soon as the first the position is openend multiple PA (price average) layers are setup based on a specified percentage of price drop. When the price crosses the layer another position with somewhat the same amount of assets is entered. This causes the average cost price (the red plot line) to decrease. If the price drops more, another similar amount of assets is bought with another price average decrease as result. When the price starts rising again the different positions are separately closed when each reaches its specified take profit. The positions can be re-openend when the price drops again. And so on. When the price rises more and crosses over the average price and reached the specified take profit on top of it, it closes all the positions at once and cancels all orders. From that moment on it waits for another price dip before it opens a new position.
Another option is to activate a DCA function that opens a position based on a fixed specified amount. It enters a position at the start of every week and only when there are already other positions openend and if the current price is below the average price of the position. Like this buying on a time interval can help lowering the average price in case the market is down.
I read in some articles that price averaging is also called dollar cost averaging as the result is somewhat the same. Although DCA is really based on buying on fixed time intervals. These strategies are both considered long term investment strategies that can be profitable in the long run and are not suitable for short term investment schemes. The downturn is that the postion size increases when the general market trend is going down and that you have to patiently wait until the market start rising again.
Another notable aspect is that the logic in this strategy works the way it does because the entries are exited based on the FIFO (first in first out) close entry rule. This means that the first exit is applied to the first entry position that is openend. In other words that when the third entry reaches its take profit level and exits, it actually exits the first entry. If you take a close look in the 'List of Trades' of your Strategy Tester panel, you can see that some 'Long1' entries are closed by an 'Exit 3' and not by an 'Exit 1'. This means that your trade partly loses, but causes a decrease in average price that is later balanced out by lower or repeated entering and closing other positions. You can change this logic to a real sequential way of closing your entries, but this changes the averaging logic considerably. In case you want to test this you need to change, in this line in the strategy call 'close_entries_rule = "FIFO"', the word FIFO to ANY.
In the settings you can specify the percentage of portfolio to use for each trade to spread the risk and for each order a trading fee of 0.075% is calculated.
Simple Moving Average CrossoverThis strategy uses two moving averages of 21 and 8 to generate buy or sell signal.
This is for purely intraday trades and best use in 15 min time frame
This strategy uses angle/slope of ma to filter out period of sideways movement and only generate signals when the stock starts trending in one direction
How to use this
1) Buy when the buy is generated
2) Sell when the sell is generated
Properties you can tweak to adjust this strategy to your needs are
1) angle -> Adjust this properties to define how much slope would be considered to generate the signals, higher the values lesser the trades generated.
2) atr period-> this is to adjust the atr period
3) ma source -> close is considered as source , you can use open or high or low
MACD Crossover trend strategy, Long and ShortHey everybody,
This is my first strategy and script I wrote mostly myself. There's tons of content out there to learn how to code in Pinescript and it's exactly what I wanted and needed in this time of my life.
In any case, I made a rather simple MACD crossover strategy that only takes trades in the direction of both EMA and SMA (there are inputs to change the length of the moving averages and lots of other stuff too).
If the MACD line crosses upwards on the signal line, while above the zero point of the histogram and the price is above EMA + SMA , it's a long signal.
If the MACD line cosses downards on the signal line, while below zero on the histogram and the price is below EMA + SMA , it's a short signal.
There are a lot of default variables that make no sense, for basically any symbol you're going to be looking at. You're going to have to adjust the EMA , SMA , backtest date, take profit, stop loss and all that good stuff yourself to find decently profitable parameters.
I made this myself because I couldn't really find a strategy out there that allowed for so much customizing and it's an easy way to get started in Pinescript.
If you have any suggestions, tips or you see a flatout mistake in my code, please let me know. I'm still learning, everyday and I'm enjoying every second of it.
Exotic SMA Explorations Treasure TroveThis is my "Exotic SMA Explorations Treasure Trove" intended for educational purposes, yet these functions will also have utility in special applications with other algorithms. Firstly, the Pine built-in sma() is exceedingly more efficient computationally on TV servers than these functions will be. I just wanted to make that very crystal clear. My notes elaborate on this in the code blatantly.
Anyhow, the simple moving average(SMA) is one of the most common averaging filters used in a wide variety of algorithms. "Simply put," it's name says a lot about it. The purpose of this script, is to demonstrate variations of it's calculation in a multitude of exotic forms. In certain scenarios our algorithms may require a specific mathemagical touch that is pertinent to our intended goals. Like screwdrivers, we often need different types depending on the objective we are trying to attain. The SMA also serves as the most basic of finite impulse response(FIR) algorithms. For example, things like weighted moving averages can be constructed by using the foundational code of SMA.
One other intended demonstration of this script, is running multiple functions for comparison. I have had to use this from time to time for my own comparisons of performance. Also, imbedded into this code is a method to generically and recklessly in this case, adapt an algorithm. I will warn you, RSI was NEVER intended to adapt an algorithm. It only serves as a crude method to display the versatility of these different algorithms, whether it be a benefit or hinderance concerning dynamic adaptability.
Lastly, this script shows the versatility of TV's NEW additions input(group=) and input(inline=) upgrades in action. The "Immense Power of Pine" is always evolving and will continue to do so, I assure you of that. We can now categorize our input()s without using the input(type=input.bool) hackTrick. Although, that still will have it's enduring versatility, at least for myself.
NOTICE: You have absolute freedom to use this source code any way you see fit within your new Pine projects. You don't have to ask for my permission to reuse these functions in your published scripts, simply because I have better things to do than answer requests for the reuse of these functions. Sufficient accreditation regarding this script and compliance with "TV's House Rules" regarding code reuse, is as easy as copying the functions in their entirety as is. Fair enough? Good!
When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
Monthly Withdrawals [racer8]This calculator tells you the maximum monthly withdrawal you can make based on amount of equity you have, your strategy's average annual return, and the maximum percentage reduction in monthly return that you are okay with. There are 3 parameters: $ Equity, % annual return, and % of return reduction. With these 3 parameters, it will calculate $ monthly withdrawal. % of return reduction tailors how much as a %, you want to withdraw from monthly returns. % of return reduction is a good approximation for annual % reduction in returns.
I built this calculator because I wanted to find a way to withdraw every month without hurting my portfolio's returns too much. This is very useful if say you are a full time trader, and you rely on trading for monthly income. Keep in mind that the bigger the withdrawals are, the higher the % reduction in annual returns will be for your portfolio. Also keep in mind that this only applies to profitable strategies with positive annual returns. The purpose is to make small withdrawals every month so that your trading account can still grow at a reasonable pace. Enjoy :)
ITG ScalperITG Scalper by Complector.
Inspired by Juboal-Rabaroansa Perosteck Alseyn Balveda dam T'seif
Methology:
- I am using a TEMA (triple EMA) to determine the local trend direction and to give buy & sell signals when the trend changes.
- An optional filter, using moving average convergence divergence (MACD), can be switched on to filter out 'false' signals.
- The calculation of the TEMA does not request data from a resolution higher or lower than the resolution of the main charts symbol,
However, the filter function does, if another resolution is chosen for the filter.
- Persistent variables are used for buy and sell prices, enabling color-coding of the sell-signal (profitable or not).
Features:
- Color coded TEMA - bullish=green , bearish=red
- Buy/Sell indicator - Sell indicator: green=profit, yellow=loss
- Optional noise filter
- Optional variable time-frame for noise filter
Remarks:
In my experience, the default values works best on the daily time frame. I encourage everyone to experiment with the values for best results.
Using the script on non-standard charts (Heikin Ashi, Renko etc.) can produce unrealistic results.
Using a resolution higher or lower than the main charts symbol for the filter can possibly lead to repainting.
Thanks to Iain M. Banks for making my life richer :-)
RSI Classic Strategy (by Coinrule)One of the questions hobbyist traders more often ask is: what is the perfect trading indicator?
Every indicator is just a tool, so its efficiency is proportional to your ability to read its signals and translate them into an actionable trading strategy. The RSI is likely the most flexible and easy to use among the technical indicators.
This trading strategy tries to catch short-term swings on the coins of your choice with a simple yet profitable setup.
Buy when the RSI is lower than 30 (you can adjust it to 35 in times of steep uptrend).
Sell when the RSI is greater than 65 (the target may range between 60 and 75 depending on the volatility of the coin).
Note that the buy signal comes when the indicator crosses below 30 and not when it crosses above 30 as it happens on the built-in RSI strategy on Tradingview.
The present script overperforms the built-in strategy, even adding trading fees and using a lower amount of capital for each trade (30%). That means that the system can deliver higher net-profits with lower risk levels.
A typical example of market conditions where this strategy works perfectly is as follows.
The first initial breakout indicates that a new leg up in the trend may start. Bitcoin starts to trade within a range which you can identify when it reaches the point 3. That is the perfect time to start the rule because
- trading within a channel anticipates possible swings up and down
- the trend is on the upside, providing low downside risk in buying the dips.
This strategy works well with selected coins of your choice, and it's a great fit on leverage exchanges like Binance Futures.
If you prefer to run it across all available coins on the market, instead, you may choose an optimized version.
Example of Simple RSI Buy/Sell at a level and hold for 10 daysScript implements strategy:
1 Buy at RSI (10) < 30
2 Sell at RSI (10) > 40 or after 10 days
The strategy is not profitable for long term trading.
RSI-Last-3-ExtremaThis script indicates when the current Relative Strength Index of the last 8 closes is beyond a level from center oscillation which signals the equity is likely to reverse course. When it is the lowest RSI reading of the prior 3 readings and below 25, a green vertical bar will appear signaling a potential BUY point. Likewise, the highest reading of the prior 3 RSI readings and above 75 will signal a vertical red bar or SELL signal. The bar has to have a final close price for the signal to be active. Reversal could take a few more bars to occur depending on the timeframe and equity symbol.
You will be able to find many charts that have this signal perfectly finding the top or bottom of a significant trend.
It successfully indicates profitable reversal around 80% of the time. So far, It is 85% accurate or better in determining downtrend start points on the Daily, 120, 60, 30 Minute charts according to the study of more than 10,000 occurrences. It is 86% accurate on the 30 Minute chart.
This is another tool I use in finding or confirming potential price action. Hope you find it useful.
To add this, favorite the script by clicking "Add to your Favorite Indicators" at the top of the code portion below. On your top tool bar is an "fx" button with a downward arrow to the right of it. Click on the downward arrow/caret and scroll down to "RSI-Last-3-Extrema". Click on this title and it should add to the bottom of your current chart. If you do not see BUY (green vertical bars) or SELL (red vertical bars) right away, try other charts and timeframes.
Turtle Trade Channels Indicator TUTCILegendary trade system which proved that great traders can be made, not born.
Turtle Trade Experiment made 80% annual return for 4 years and made 150 million $
Turtle Trade trend following system is a complete opposite to the "buy low and sell high" approach.
This trend following system was taught to a group of average and normal individuals, and almost everyone turned into a profitable trader.
They used the basis logic of well known DONCHIAN CHANNELS which developed by Richard Donchian.
The main rule is "Trade an 20-day breakout and take profits when an 10-day high or low is breached ". Examples:
Buy a 20-day breakout and close the trade when price action reaches a 10-day low.
Go short a 20-day breakout and close the trade when price action reaches a 10-day high.
In this indicator,
The red line is the trading line which indicates the trend directio n:
Price bars over the trend line indicates uptrend
Price bars under the trend line means downtrend
The dotted blue line is the exit line.
Original system is:
Go long when the price High is equal to or above previous 20 day Highest price.
Go short when the price Low is equal to or below previous 20 day Lowest price.
Exit long positions when the price touches the exit line
Exit short positions when the price touches the exit line
Recommended initial stop-loss is ATR * 2 from the opening price.
Default system parameters were 20,10 and 55,20.
Original Turtle Rules:
To trade exactly like the turtles did, you need to set up two indicators representing the main and the failsafe system.
Set up the main indicator with EntryPeriod = 20 and ExitPeriod = 10 (A.k.a S1)
Set up the failsafe indicator with EntryPeriod = 55 and ExitPeriod = 20 using a different color. (A.k.a S2)
The entry strategy using S1 is as follows
Buy 20-day breakouts using S1 only if last signaled trade was a loss.
Sell 20-day breakouts using S1 only if last signaled trade was a loss.
If last signaled trade by S1 was a win, you shouldn't trade -Irregardless of the direction or if you traded last signal it or not-
The entry strategy using S2 is as follows:
Buy 55-day breakouts only if you ignored last S1 signal and the market is rallying without you
Sell 55-day breakouts only if you ignored last S1 signal and the market is pluging without you
You can Highlight the chart with provided trade signals:
Green background color when Long
Red background color when Short
No background color when flat
WARNING: TURTLE TRADE STOP or ADDING more UNITS RULES ARE NOT INCLUDED.
Author: Kıvanç Özbilgiç
Also you can show or hide trade signals with the button on the settings menu
Advanced Bollinger Bands StrategyAdvanced Bollinger Bands Strategy
Why is it an advanced Bollinger Bands Strategy?
The purpose of Bollinger Bands is to provide a relative definition of high and low prices of a market. By definition, prices are high at the upper band and low at the lower band. This definition can aid in rigorous pattern recognition and is useful in comparing price action to the action of indicators to arrive at systematic trading decisions. Adding a Moving Average filter which only allows trades if MA and Price are outside of the BB increases the probability of profitable trades with the sacrifice of a lower trade-frequency.
Inputs for Bollinger Bands
-> BB Source
-> BB Length
-> BB Multiplier
-> Moving Average Period
-> Moving Average Source
-> Strategy Condition Options:
-> Exit Trades if Price crosses Basis Line
-> Enable Moving Average Filter
Weekly/Daily/Hourly/Minutes Colored Background IntervalsThis is my "Weekly/Daily/Hourly/Minutes Colored Background Intervals" assistant. I wouldn't describe it as an indicator, it just exhibits coloration of referenced periods of time with bgcolor() in Pine. With the arrival of 2021, I pondered the necessity of needing a visualization pre-2021 to visually recognize periodicity of market movements by the week, day, hour, or an adjustable period of minutes. While this script is simply generic, I hope you may find useful in your endeavors as a member on TradingView.
Explaining the script's usage, the "Minutes" input can be adjusted from anywhere between 5-55 minutes for only intraday. This can be modified to accommodate 90 minutes (1.5hrs) or any other minutes period desirable by tweaking certain numbers up to 1440. Minutes and Hourly backgrounds are disabled by default for most daily traders. Changing the input() code to `true` will provide them on by default when the script loads, if you choose that route. Each time periods background color is enable/disable capable. All of the colors are easily adjustable to any combination you can ponder for your visual acuity with the color swatch provided by input(type=input.color). The coloring can be "swapped" by input() depending on how you wish to start and end the day visually. I thought this would come in handy. The weekly background can have different starting points, whether it be Sunday, Monday, or any other day such as Friday for example.
The entire script's contents isn't intended for complete re-use as is for publicly published scripts. It's more along the lines of code that could be used to personally modify indicators you have, depending on the time frames you may actually be trading on. The code is basically modular, so you can use bits and pieces of it in your personally modified Pine Editor scripts that you wish to customize for yourself. I will say that the isXxx() functions are completely reusable in any script without any need for author permission inquiries from me, as easy as copy and paste. Those may come in handy for many folks. If you find them useful in certain circumstances, use isXxx() functions as you please. Day of the week detection by functions will have applications beyond my current intended use for them.
Of notable mention, this is a miniature lesson by example of how the new input(type=input.color) may be used. I'm also using `var` inside functions to aid in computational efficiency of the script runtime. The colors are permanently stored at the very beginning of the scripts operation inside the function and just reused from that point onward. Its a rare use case, but well suited for this scripts intention. Once again I have demonstrated the "Power of Pine" for developers of any experience level to learn from via code elegance.
When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members , I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
Ultimate Oscillator [Long] StrategyAfter I published Short Selling strategy with RSIofUO , I have been working for Long side strategy with same indicator.
but for Long strategy , I have used only the Ultimate Oscillator ... (Not the RSI of UO)
Logic behind this is , when UO goes below oversold level , high chance of possible reversal from there ...
Ultimate Oscialltor values , I have used are 5, 10 and 15
Signal Line 9
Above values are best/defaulted based on testing the strategy multiple symbols
BUY
when UO crossing up buyLine and close > open ( if the cross over is already done , it will wait for 3 candles to see a green bar i.e close>open )
Note when the bar color changes to orange , that means startegy is ready to take LONG position on next bar. But dont jump here , waith for the startegy take the Long Position :-)
Add
Signal appears when there is divergence (marked in yellow color ) ... strategy doesnt add the position , it is ony indicating you could add to existing OR if you missed the BUY signal you could enter here
Partial Exit
when UO crossing down partial exit level
Exit
When UO crossing down sell line
StopLoss
stop loss defaulted to 3%
Please note , I have slightly modified stop loss exit in this strategy.
Even though price hits 3% stoploss , strategy wont wind up the position ...
First , it will check if RSIofUO is above 30 , then it will hold on to the Long position.
Very reason behind this is , price is falling down and UO is going up ... That means there is bullish divergence here .. so it might turn this losing position to profitable one or will exit you with less than 3% loss.
Tested with SPY , QQQ , TSLA on 30mins to 4hrs. Though winning rate is average , net profit is exponential ...
Best working on 30 mins and 1 HR chart for QQQ
Warning
For the eductional purposes only ...
This is not a financial advise , before taking trading decission please do your own research
