MACD MTF Strategy [JoseMetal]============
ENGLISH
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- Description:
This strategy uses my indicator MACD MTF (check my profile) to generate entries, it also has ATR to define Stop Loss and Take Profit if needed.
The strategy has several customizable options, which allows you to refine the strategy for your asset and timeframe.
You can customize settings for ALL indicator settings (MACD MTF and ATR).
- CUSTOM CONDITIONS TO ENTER A POSITION:
1. Both MACDs agree (current timeframe and higher timeframe).
2. Current timeframe MACD crossover.
3. Higher timeframe MACD crossover.
4. MACDs no longer agree with each other.
- EXIT CONDITION:
1. Predefined Stop Loss and Take Profit based on ATR (stop can be previous wick).
2. MACDs no longer agree with each other.
3. Opposite position entry.
- STOP LOSS TYPE:
1. ATR.
2. Previous wick.
- OTHER OPTIONS:
You can customize any setting for my MACD MTF and ATR.
- Visual:
ATR is shown for the Stop Loss / Take Profit.
The script prints the Take Profit as a green line, Stop Loss as a red line and entry price with a white line.
- Recommendations:
Recommended on 8H or 12H timeframe for the CURRENT timeframe, while using DAILY for the higher timeframe on the MACD MFT (by default).
Entry when BOTH MACDs agree and exit on opposite entry, this has NO TAKE PROFIT or STOP LOSS, so be careful, but gives the BEST profit overall, and being on 8H/12H + Daily lets you relax.
- Customization:
As you can see, almost everything is customizable, for colors and plotting styles check the "Style" tab.
Enjoy!
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ESPAÑOL
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- Descripción:
Esta estrategia utiliza mi indicador MACD MTF (revisa mi perfil) para generar entradas, también cuenta con ATR para definir Stop Loss y Take Profit si es necesario.
La estrategia tiene varias opciones personalizables, lo te le permiten refinar la estrategia para te activo y temporalidad.
Puedes personalizar la configuración de TODOS los indicadores (MACD MTF y ATR).
- CONDICIONES PERSONALIZADAS PARA ENTRAR EN UNA POSICIÓN:
1. Ambos MACDs coinciden (temporalidad actual y temporalidad superior).
2. Cruce del MACD en el marco de tiempo actual.
3. Cruce del MACD en el marco temporal superior.
4. Los MACD ya no coinciden entre sí (están en desacuerdo).
- CONDICIÓN DE SALIDA:
1. Stop Loss y Take Profit predefinidos basados en el ATR (el stop puede ser la mecha anterior).
2. Los MACDs ya no coinciden entre sí (están en desacuerdo).
3. Entrada en posición contraria.
- TIPO DE STOP LOSS:
1. ATR.
2. Mecha anterior.
- OTRAS OPCIONES:
Puede personalizar cualquier ajuste para mi MACD MTF y ATR.
- Visual:
El ATR se muestra para el Stop Loss / Take Profit.
El script imprime el Take Profit como una línea verde, el Stop Loss como una línea roja y el precio de entrada con una línea blanca.
- Recomendaciones:
Se recomienda en el marco de tiempo 8H o 12H para el marco de tiempo ACTUAL, mientras que se utiliza DIARIO para el marco de tiempo superior en el MACD MFT (por defecto).
Entrar cuando AMBOS MACDs están de acuerdo y salir en la entrada opuesta, esto no tiene TAKE PROFIT o STOP LOSS, así que tenga cuidado, pero da el MEJOR beneficio en general, y estar en 8H/12H + Diario le permite relajarse.
- Personalización:
Como puedes ver, casi todo es personalizable, para colores y estilos de trazado revisa la pestaña "Estilo".
¡Que lo disfrutes!
Cerca negli script per "stop loss"
SuperTrend Multi Time Frame Long and Short Trading Strategy
Hello All
This is non-repainting Supertrend Multi Time Frame script, I got so many request on Supertrend with Multi Time Frame. This is for all of them ..I am making it open for all so you can change its coding according to your need.
How the Basic Indicator works
SuperTrend is one of the most common ATR based trailing stop indicators.
In this version you can change the ATR calculation method from the settings. Default method is RMA.
The indicator is easy to use and gives an accurate reading about an ongoing trend. It is constructed with two parameters, namely period and multiplier. The default values used while constructing a Supertrend indicator are 10 for average true range or trading period and three for its multiplier.
The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility .
The buy and sell signals are generated when the indicator starts plotting either on top of the closing price or below the closing price. A buy signal is generated when the ‘Supertrend’ closes above the price and a sell signal is generated when it closes below the closing price.
It also suggests that the trend is shifting from descending mode to ascending mode. Contrary to this, when a ‘Supertrend’ closes above the price, it generates a sell signal as the colour of the indicator changes into red.
A ‘Supertrend’ indicator can be used on spot, futures, options or forex, or even crypto markets and also on daily, weekly and hourly charts as well, but generally, it fails in a sideways-moving market.
How the Strategy works
This is developed based on SuperTrend.
Use two time frame for confirm all entry signals.
Two time frame SuperTrend works as Trailing stop for both long and short positions.
More securely execute orders, because it is wait until confine two time frames(example : daily and 30min)
Each time frame developed as customisable for user to any timeframe.
User can choose trading position side from Long, Short, and Both.
Custom Stop Loss level, user can enter Stop Loss percentage based on timeframe using.
Multiple Take Profit levels with customisable TP price percentage and position size.
Back-testing with custom time frame.
This strategy is develop for specially for automation purpose.
The strategy includes:
Entry for Long and Short.
Take Profit.
Stop Loss.
Trailing Stop Loss.
Position Size.
Exit Signal.
Risk Management Feature.
Backtesting.
Trading Alerts.
Use the strategy with alerts
This strategy is alert-ready. All you have to do is:
Go on a pair you would like to trade
Create an alert
Select the strategy as a Trigger
Wait for new orders to be sent to you
This is develop for specially for automating trading on any exchange, if you need to get that automating service for this strategy or any Tradingview strategy or indicator please contact me I am have 8 year experience on that field.
I hope you enjoy it!
Thanks,
Ranga
Protervus Trading ToolkitHi Traders! Welcome to Protervus Trading Toolkit (PTT) , a comprehensive set of tools to help you building, backtesting, and even automating your strategy.
Important : the data and screenshots I publish are solely for presentation and explanation purposes and must not be intended as recommendations or guarantees. Please consider eventual backtesting results seen here as almost-random. My goal is not to provide ready-made strategies, signals, or infallible methods, but rather indicators and tools to help you focus on your own research and build a reliable trading plan based on discipline.
BUILD, BACKTEST, AUTOMATE
The first step is to link a chained indicator which will send Entry signals and, optionally, Exit signals: to integrate your own triggers with this toolkit, check out my tutorial and use this code as a template.
Then, in the Trading Settings you can set the Trading Mode (Full - Long and Short, Long only, or Short only) as well as Starting Capital, Drawdown Limit, Risk per Trade, Fees, and the date range in which trading will be enabled and backtested.
Go further by tweaking your strategy with built-in Take Profit and Stop Loss conditions, and keep it under control thanks to the Statistics Panel.
Trades will be shown on the chart, including TP\SL levels (according to the ones you enable) and per-trade statistics:
Tip: point the cursor over TP or SL icon to open the tooltip, showing additional details about the trade.
BUILT-IN CONDITIONS
Note: all conditions already account for fees.
Take Profit \ Stop Loss percentage
Take Profit or Stop at Loss when a fixed percentage is reached.
Limit \ Hard Stop: the trade will be considered closed when that specific price is reached - otherwise, the candle closing price will be used.
Trailing Take Profit
Trail the price and close the trade in profit when it reverses for the chosen percentage.
Engage and Disengage: activate trailing when the price is above the entry price for the chosen percentage, and de-activate it if price goes past the disengage percentage.
Safety TP: close the trade at Break-Even if the price sharply reverses from engaged area to BE level. A specific Alert is available in order to create a separate trigger with immediate effect.
Note: using TP Safety with an Engage % of zero might result in many early exits, so it is recommended to add some margin to Engage % to avoid that.
Exit \ Stop on Opposite Signal
Close the trade when another, contrary signal is received (e.g. close a Long position when a signal to go Short is received).
Exit \ Stop after X candles
Close the trade after X candles, as soon as the condition is met (e.g. for Take Profit condition, it will close the trade after X candles as soon as the trade is in profit).
Bind to TP \ SL: only validate the condition if the current PnL is above (TakeProfit cond.) or below (Stop Loss cond.) the specified percentage.
ATR Stop
Classic ATR Stop Loss.
Trailing ATR
Chase the price by the defined ratio and close the position when the candle closes past the ATR line.
Bind to TP \ SL: only validate the condition if the current PnL is above (TakeProfit cond.) or below (Stop Loss cond.) the specified percentage.
External Signal (sent from your indicator)
Close the position basing on your own triggers, defined in the chained indicator.
- Bind to TP \ SL: only validate the condition if the current PnL is above (TakeProfit cond.) or below (Stop Loss cond.) the specified percentage.
PANEL CUSTOMIZATION AND ADDITIONAL OPTIONS
A strategy name can be assigned in the settings and will show it at the top of the Statistics Panel, so you can better identify and label your tests and live instances.
The panel can be customized in terms of colors, text size and height. It can be also "split" in modular panels that will appear at the bottom of the chart.
It is also possible to show \ hide prices and live data labels as well as position and Break-Even levels. In some cases you will need to limit the display of those plots in order to avoid PineScript calculation issues.
If you limited the plots but you are checking very old trades, you can enable the Legacy position tracker to see basic markers for positions (position is active, and profit \ loss marker).
In the case you will be sending webhook alerts to a trading bot , "Position Alert Failover" will come in aid to prevent situations where the initial trade closing alert is either not sent or missed: it will keep sending the position closing signal for X candles.
PLUGINS
Thanks to the modular nature of PTT, plugins will eventually be available to provide additional features and extend functionalities even further. Make sure to keep an eye on updates.
CREATING ALERTS
To create alerts you must first select the PTT indicator from the "Condition" drop-down menu, then the whole list of available alerts will appear. When creating alerts, please make sure to set "Once Per Bar Close" for the normal conditions, and "Once Per Bar" for safety conditions (Limit and Hard Stop simulation, Trailing TP Safety Trigger).
Besides positions opening and closing alerts, you also have the option to add extra alerts for when a position is open or not open (e.g. Active Long position, No Long Position) - that might come handy when dealing with trading bots and automation tools. Also, as mentioned earlier, you have the chance to create a special alert as failover in order to repeat the closing alert.
TIPS AND RECOMMENDATIONS
Set Visual Order > Bring to front for PTT to avoid other indicators or candles covering up labels.
If you receive errors like "Referencing too many candles" or "Too many drawings", use the " Limit to last candles " function in the Settings panel to lower the number of candles.
If the Statistics Panel or labels are not appearing, and no errors are shown (red circled exclamation mark next to indicator's name), try changing any value in the settings to trigger a new calculation.
The Lowest Point in Trades refers to the maximum movement against your position. However, if the price never goes negative against the Entry level, it will be calculated from the Break-Even level.
Differently from TradingView's Strategy Tester, PTT calculates DrawDown from the Equity line (the starting balance).
Remember that Backtests only show past results, and although very useful to understand if your strategy makes sense, the market can completely change at any moment and ruin your dreams: make sure to avoid over-fitting (using very specific values) in your settings and to prefer more generic values in order to factor broader market situations.
After many successful backtests of your newly created strategy, let it run live without actually trading it for some time (paper trading), and see if it remains valid.
You can use multiple Conditions as safeguard. For example, main Stop condition can be Trailing ATR and secondary Stop condition can be Stop Loss % with Hard Stop, so you will be protected in case of sudden big price moves.
MPF EMA Cross Strategy (8~13~21) by Market Pip FactoryThis script is for a complete strategy to win maximum profit on trades whilst keeping losses at a minimum, using sound risk management at no greater than 1.5%
The 3x EMA Strategy uses the following parameters for trade activation and closure.
1/ Daily Time Frame for trend confirmation
2/ 4 Hourly Time Frame for trend confirmation
3/ 1 Hourly Time Frame for trend confirmation AND trade execution
4/ 3x EMAs (Exponential Moving Averages)
* EMA#1 = 8 EMA (Red Color)
* EMA#2 = 13 EMA (Blue Color)
* EMA#3 = 21 EMA (Orange Color)
5/ Fanning of all 3x EMAs and CrossOver/CrossUnder for Trend Confirmation
6/ Price Action touching an 8 EMA for trade activation
7/ Price Action touching a 21 EMA for trade cancellation BEFORE activation
* For LONG trades: 8 EMA would be ABOVE 21 EMA
* For SHORT trades: 8 EMA would be BELOW 21 EMA
* For trade Cancellation, price action would touch the 21 EMA before trade is activated
* For trade Entry, price action would touch 8 EMA
Once trigger parameter is identified, entry is found by:
a) Price action touches 8 EMA (Candle must Close for confirmed Trade preparation)
b) Trade preparation can be cancelled before trade is activated if price action touches 21 EMA
c) Trailing Stop Loss can be used (optional) by counting back 5 candles from current candle
CLOSURE of a Trade is identified by:
e) 8 EMA crossing the 21 EMA, then close trade, no matter LONG or SHORT
f) Trail Stop Loss
IMPORTANT:
g) No more than ONE activated trade per EMA crossover
h) No more than ONE active trade per pair
NOTE: This strategy is to be used in conjunction with Cipher Twister (my other indicator) to reduce trades on
sideways price action and market trends for super high win ratio.
NOTE: Enabling of LONGs and SHORTs Via Cipher Twister is done by using the previous
green or red dot made. Additionally, when the trend changes, so do the dot's validity based
on being above or below the 0 centerline.
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Strategy and Bot Logic
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.....::: FOR SHORT TRADES ONLY :::.....
The Robot must use the following logic to enable and activate the SHORT trades:
Parameters:
$(crossunder)=8EMA,21EMA=Bearish $(crossover)=8EMA,21EMA=Bullish $entry=SELL STOP ORDER (Short)
$EMA#1 = 8 EMA (Red Color) $EMA#2 = 13 EMA (Blue Color) $EMA#3 = 21 EMA (Orange Color)
Strategy Logic:
1/ Check Daily Time Frame for trend confirmation if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=daily and trend=$(crossunder) then goto 2/ *Means: crossunder = ema21 > ema8
$(chart)=daily and trend=$(crossover) then stop (No trades) *Means: crossover = ema8 > ema21
NOTE: This function is switchable. 0=off and 1=on(active). Default = 1 (on)
2/ Check 4 Hourly Time Frame for trend confirmation if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=4H and trend=$(crossunder) then goto 3/ *Means: crossunder = ema21 > ema8
$(chart)=4H and trend=$(crossover) then stop (No trades) *Means: crossover = ema8 > ema21
NOTE: This function is switchable. 0=off and 1=on(active). Default = 1 (on)
3/ 1 Hourly Time Frame for trend confirmation AND trade execution if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=1H and trend=$(crossunder) then goto 4/ *Means: crossunder = ema21 > ema8
$(chart)=1H and trend=$(crossover) then stop (No trades) *Means: crossover = ema8 > ema21
4/ Trade preparation:
* if Next (subsequent) candle touches 8EMA, then set STOP LOSS and ENTRY
* $stoploss=3 pips ABOVE current candle HIGH
* $entry=3 pips BELOW current candle LOW
5/ Trade waiting (ONLY BEFORE entry is hit and trade activated):
* if price action touches 21 EMA then cancel trade and goto 1/
Note: Once trade is active this function does not apply !
6/ Trade Activation:
* if price activates/hits ENTRY price, then bot activates trade SHORTs market
7/ Optional Trailing stop:
* if active, then trailing stop 3 pips ABOVE previous HIGH of previous 5th candle
or * Move Stop Loss to Break Even after $X number of pips
NOTE: This means count back and apply accordingly to the 5th previous candle from current candle.
NOTE: This function is switchable. 0=off and 1=on(active). Default = 0 (off)
8/ Trade Close ~ Take Profit:
* Only TP when
$(chart)=1H and trend=$(crossover) then close trade ~ Or obviously if Stop Loss is hit if 7/ is activated.
----------END FOR SHORT TRADES LOGIC----------
.....::: FOR LONG TRADES ONLY :::.....
The Robot must use the following logic to enable and activate the LONG trades:
Parameters:
$(crossunder)=8EMA,21EMA=Bearish $(crossover)=8EMA,21EMA=Bullish $entry=BUY STOP ORDER (Long)
$EMA#1 = 8 EMA (Red Color) $EMA#2 = 13 EMA (Blue Color) $EMA#3 = 21 EMA (Orange Color)
Strategy Logic:
1/ Check Daily Time Frame for trend confirmation if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=daily and trend=$(crossover) then goto 2/ *Means: crossover = ema8 > ema21
$(chart)=daily and trend=$(crossunder) then stop (No trades) *Means: crossunder = ema21 > ema8
NOTE: This function is switchable. 0=off and 1=on(active). Default = 1 (on)
2/ Check 4 Hourly Time Frame for trend confirmation if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=4H and trend=$(crossover) then goto 3/ *Means: crossover = ema8 > ema21
$(chart)=4H and trend=$(crossunder) then stop (No trades) *Means: crossunder = ema21 > ema8
NOTE: This function is switchable. 0=off and 1=on(active). Default = 1 (on)
3/ 1 Hourly Time Frame for trend confirmation AND trade execution if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=1H and trend=$(crossover) then goto 4/ *Means: crossover = ema8 > ema21
$(chart)=1H and trend=$(crossunder) then stop (No trades) *Means: crossunder = ema21 > ema8
4/ Trade preparation:
* if Next (subsequent) candle touches 8EMA, then set STOP LOSS and ENTRY
* $stoploss=3 pips BELOW current candle LOW
* $entry=3 pips ABOVE current candle HIGH
5/ Trade waiting (ONLY BEFORE entry is hit and trade activated):
* if price action touches 21 EMA then cancel trade and goto 1/
Note: Once trade is active this function does not apply !
6/ Trade Activation:
* if price activates/hits ENTRY price, then bot activates trade LONGs market
7/ Optional Trailing stop:
* if active, then trailing stop 3 pips BELOW previous LOW of previous 5th candle
or * Move Stop Loss to Break Even after $X number of pips
NOTE: This means count back and apply accordingly to the 5th previous candle from current candle.
NOTE: This function is switchable. 0=off and 1=on(active). Default = 0 (off)
8/ Trade Close ~ Take Profit:
* Only TP when
$(chart)=1H and trend=$(crossunder) then close trade ~ Or obviously if Stop Loss is hit if 7/ is activated.
----------END FOR LONG TRADES LOGIC----------
IMPORTANT:
* If an existing trade is already open for that same pair, & price action touches 8EMA, do NOT open a new trade..
* bot must continuously check if a trade is currently open on the pair that triggers
* New trades are to be only opened if there is no active trade opened on current pair.
* Only 1 trade per pair rule !
* 5 simultaneous open trades (not same pairs) default = 5 but value can be changed accordingly.
* Maximum risk management must not exceed 1.5% on lot size
*** Some features are not yet available autoated, they will be added in due course in subsequent version updates ***
Short Selling EMA Cross (By Coinrule)BINANCE:AVAXUSDT
This short selling script works best in periods of downtrends and general bearish market conditions, with the ultimate goal to sell as the the price decreases further and buy back before a rebound.
This script can work well on coins you are planning to hodl for long-term and works especially well whilst using an automated bot that can execute your trades for you. It allows you to hedge your investment by allocating a % of your coins to trade with, whilst not risking your entire holding. This mitigates unrealised losses from hodling as it provides additional cash from the profits made. You can then choose to to hodl this cash, or use it to reinvest when the market reaches attractive buying levels.
Entry
The exponential moving average ( EMA ) 20 and EMA 50 have been used for the variables determining the entry to the short. EMAs can operate better than simple moving averages due to the additional weighting placed on the most recent data points, whereas simple moving averages weight all the data the same. This means that price is tracked more closely and the most recent volatile moves can be captured and exploited more efficiently using EMAs.
Our backtesting data revealed that the most profitable timeframe was the 30-minute timeframe, this also enabled a good frequency of trades and high profitability.
A fast (shorter term) exponential moving average , in this strategy the EMA 20, crossing under a slow (longer term) moving average, in this example the EMA 50, signals the price of an asset has started to trend to the downside, as the most recent data signals price is declining compared to earlier data. The entry acts on this principle and executes when the EMA 20 crosses under the EMA 50.
Enter Short: EMA 20 crosses under EMA 50.
Exit
This script utilises a take profit and stop loss for the exit. The take profit is set at -8% and the stop loss is set at +16% from the entry price. This would normally be a poor trade due to the risk:reward equalling 0.5. However, when looking at the backtesting data, the high profitability of the strategy (93.33%) leads to increased confidence and showcases the high probability of success according to historical data.
The take profit (-8%) and the stop loss (+16%) of the strategy are widely placed to ensure the move is captured without being stopped out due to relief rallies. The stop loss also plays a role of mitigating losses and minimising risk of being stuck in a short position once there has been a fundamental trend reversal and the market has become bullish .
Exit Short: -8% price decrease from entry price.
OR
Exit Short: +16% price increase from entry price.
Tip: Research what coins have consistent and large token unlocks / highly inflationary tokenomics, and target these during bear markets to short as they will most likely have substantial selling pressure that outweighs demand - leading to declining prices.
The strategy assumes each order is using 30% of the available coins to make the results more realistic and to simulate you only ran this strategy on 30% of your holdings. A trading fee of 0.1% is also taken into account and is aligned to the base fee applied on Binance.
The backtesting data was recorded from December 1st 2021, just as the market was beginning its downtrend. We therefore recommend analysing the market conditions prior to utilising this strategy as it operates best on weak coins during downtrends and bearish conditions.
Easy Backtester PROWHAT IS EasyBacktester ?
EasyBacktester is a tool that helps you backtest trading strategies built by yourself with an included strategy builder and a multitude of options.
From within the parameters of the tool, you can specifically pick your entry settings across 12 most common indicators, such as "RSI", "MACD", "Moving Averages" etc... Then you can immediately visualise your setup's Stop-loss & Take Profit, your expected Profits & Loss and a lot of other statistics for your entry strategy. Once you are satisfied with your entry strategy, you are given a set of tools to optimize your setup using stop-loss rules, take profits rules, partial profits, trailing-stops, entry timing...
WHY IS THIS TOOL DIFFERENT ?
EasyBacktester is a backtesting engine with no coding skills required. TradingView allows for "Strategy Scripting" using PineScript, which is not an option for non-coder audience. EasyBacktester fills this gap and allow non-coders to get an idea of how their trading strategies may perform using mouse clicks only.
Some similar attempts have been made on TradingView, allowing some limited options, but none have the same capabilities EasyBacktester offers, for instance, as of April 2022 these features have not been seen in any other TradingView tools:
- partial take profits
- leverage simulation
- a multitude of trailing stop-loss possibilities including trail triggers and trail parameters
- visualisation of entries including stop-loss, take profits, partial take profits, and trailing stops. One can now visualize such complex setups.
- visualisation of Profits & Loss
- time in trade
- wait strategy after a signal: for example, when RSI is oversold, "WAIT until price retraces 100% of the original signal" amongst other possibilities
QUICK START GUIDE:
STEP 1: DEFINE YOUR SIGNAL STRATEGY
From the settings of the tool, find the "SIGNALS STRATEGY" section.
Select a type of entry you wish to simulate, for example "LONGs", and activate the checkbox right before "Simulate".
Right below, you will find 4 signal builder for you to play with and pick your strategy accordingly.
For example, to simulate a signal when RSI is oversold, follow these steps:
- On the 1st multiple choice box, select "RSI"
- On the 2nd multiple choice box, select "is below..."
- On the 3rd multiple choice box, select "OverSold level"
Don't forget to activate this rule by checking the checkbox in front of it.
After this first step, one should immediately see the chart affected with some plots. The dots represents the signal entry defined by the rule we just created, and the red/green boxes visually represent trades that could have been taken with this signal which, in this example, occurs "when RSI is below oversold level". Note that all specific parameters for RSI including its specific "oversold level" is customisable at the end of the tools settings along with all other indicators settings.
STEP 2: STATISTICS
By default, the "APPEARANCE" section only plots potential entry signals (materialized by dots) and actual entry boxes (materialized by red/green boxes).
But the user can easily add other precious statistics to the chart, and obviously the most important one for backtesting: Profits & Loss (P&L).
In the "STATISTICS" section please check the "P&L" box to see appear a chart of the simulated P&L for our example. You should immediately see a new graph below the chart representing the evolution of the P&L after each entry.
Other statistics are available to the user, including: Equity, Number of Trades, Time in Position, Number of trades Won, Number of trades Lost, Number of trades Stopped.
Play around with those to see them plotted on your chart.
STEP 3: OPTIMIZE YOUR ENTRY
Under the "ENTRY STRATEGY" section, one can pick how to enter AFTER the signal, which provides the user with an extensive flexibility to pick its timing.
Here there are a various set of choices offered, ranging from the default "Market Order at Next Candle Open", to "Limit Order: at signal's candle open" or even "Stop-Buy: at break of last candle high". As its name suggests, this option allows you to actually wait before randomly enter in trade.
It is important to also note that the user can totally prevent entry if the conditions are not filled after a customizable number of candles represented in "Max bars to wait for entry" (default being 1, meaning the engine will wait the condition to be filled during only 1 candle)
STEP 4: MANAGE YOUR RISK
Under the "RISK MANAGEMENT" section, the user is given a series of options to set the amount (s)he would like to risk.
This is extremely important to set, and is the result of a combination of customizable options including:
- the Initial Capital of the account
- the amount to risk per trade, and HOW to risk it: some fixed % the initial equity or adjust the stop-loss to the desired risk ?
- use of leverage or not
- initial stop-loss, as well as minimum and maximum
- trailing stop-loss: what should trigger the trailing ? and by how much should the engine trail ?
STEP 5: HAVE AN EXIT PLAN
Under the "EXIT STRATEGY", the user can define how to exit the trade.
For instance, here again a lot of options are given:
- Take Profit: exit at some level of profits defined by a multiple of the stop-loss, or a multiple of the ATR, or some % or points
- Partial Profit taking before exit
- Panic close position after some time spent on the trade
STEP 6: FURTHER OPTIMIZATIONS
Under the sections "Commissions" & "Calendar & Sessions", one can simulate real trading conditions by including commissions fees as well as filtering actual dates and trading sessions. These sections are straightforward for any user to use.
SETP 7: INDICATORS SETTINGS
Since EasyBacktester uses a predefined set of indicators to get started, those indicators are also customizable in the last section of the settings. Here, one can easily customize RSI periodicity, MACD lengths, Moving averages types & lengths, ATR, etc...
STEP 8: GOING FURTHER
This is only a start to give users an overview of how various options affect their trading performance. But of course, each trader has its special recipe and specific detailed setup that is not possible to embed in a single tool. For advanced simulation, EasyBacktester provides plug & play connectors for advanced users. Namely, there are 3 connectors:
- signal connector
- trail trigger connector
- exit connector
Each of these connectors are an opportunity to customize the engine signals, trail trigger and exit choices with the user's own options. This case does require a little bit of coding, but it can easily be implemented by copy-pasting existing resources or with a slight help of a professional. In fact, the only conditions to build a proper connector is to export a plot with the numbers 1 (for signals), 2 (for trigger trails) and 3 (for exits). Here is an example of custom SIGNAL connector compatible with EasyBacktester, to produce a signal when last RSI was below 30 and current RSI reads above 30:
============================================================
//@version=5
indicator("My custom RSI signal")
// when previous RSI 14 was below 30 and current RSI 14 is above 30, set "custom_signal" to 1, otherwise set "custom_signal" to 0
custom_signal = ta.rsi(close, 14) < 30 and ta.rsi(close, 14) > 30 ? 1 : 0
// Export a plot of "custom_signal", but do not display it
plot(custom_signal, title="my signal", display=display.none)
============================================================
Once this indicator has been built, the user only needs to connect it with EasyBacktester as follow:
1. Open a desired chart, and add both EasyBacktester indicator as well as the custom "My custom signal" we just created above.
2. Open EasyBacktester's settings, and in the first option, there is "Connect signals source" which by default is set to "close". In the multiple choices, find your custom signal which should be named something like "My custom RSI signal: my signal", generally speaking the name is built like this " : ".
3. Now the custom code is connected to EasyBacktester, but we need to indicate the engine we actually want to use it as custom signal.
4. Under the "SIGNALS STRATEGY" section, where we generally build signals rules, there is special rule for this specific connection named "Use external source as entry signal". Just check the checkbox to activate it and see how the chart took our custom signal into consideration.
That's it for the overview of EasyBacktester. Thank you for reading and happy trading :)
Commercial Algo Trend © Fzn V1Hello Traders,
Here i bring to you my 2nd Price Action Atr based Indictor combined with fib entry and exit trailing levels with minimum risk and maximum profit , as we must have seen at times as we enter the trend reverse and hits our stop losses . Keeping that in mind as i too struggled and made losses so i decided and focused more on minimizing the stop loss and only on confirmation of Long or Short trade is been initiated with proper Stop loss as explained in the images below , why should we give market our money ;) as we are here to make money :D .. There is no holy grail as Stop loss wont be hit but yes it will be way less and all alerts are based on candle close . One can use this on any chart and any timeframe and its very good for scalping too .ATR Trailing SL is added too just incase you want to enter and exit trend manually . Better results are on 15m and above . Hope you guys will like it and comment if you have any doubts..
-----------------
Disclaimer
Copyright by FaizanNawazz.
The information contained in my scripts/indicators/strategies/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators are only for educational purposes!
Happy Trading!
AlphaTrendAlphaTrend is a brand new indicator which I've personally derived from Trend Magic and still developing:
In Magic Trend we had some problems, Alpha Trend tries to solve those problems such as:
1-To minimize stop losses and overcome sideways market conditions.
2-To have more accurate BUY/SELL signals during trending market conditions.
3- To have significant support and resistance levels.
4- To bring together indicators from different categories that are compatible with each other and make a meaningful combination regarding momentum, trend, volatility, volume and trailing stop loss.
according to those purposes Alpha Trend:
1- Acts like a dead indicator like its ancestor Magic Trendin sideways market conditions and doesn't give many false signals.
2- With another line with 2 bars offsetted off the original one Alpha Trend have BUY and SELL signals from their crossovers.
BUY / LONG when Alpha Trend line crosses above its 2 bars offsetted line and there would be a green filling between them
SELL / SHORT when Alpha Trend line crosses below its 2 bars offsetted line and filling would be red then.
3- Alpha Trend lines
-act as support levels when an uptrend occurs trailing 1*ATR (default coefficient) distance from bar's low values
-conversely act as resistancelevels when a downtrend occurs trailing 1*ATR (default coefficient) distance from bar's high values
and acting as trailing stop losses
the more Alpha Trend lines straighter the more supports and resistances become stronger.
4- Trend Magic has CCI in calculation
Alpha Trend has MFI as momentum, but when there's no volume data MFI has 0 values, so there's abutton to change calculation considering RSI after checking the relevant box to overcome this problem when there is no volume data in that chart.
Momentum: RSI and MFI
Trend: Magic Trend
Volatility: ATR,
Trailing STOP: ATR TRAILING STOP
Volume: MFI
Alpha trend is really a combination of different types...
default values:
coefficient: 1 which is the factor of trailing ATR value
common period: 14 which is the length of ATR MFI and RSI
Wish you all use AlphaTrend in profitable trades.
Kıvanç Özbilgiç
Strategy█ OVERVIEW
This library is a Pine Script™ programmer’s tool containing a variety of strategy-related functions to assist in calculations like profit and loss, stop losses and limits. It also includes several useful functions one can use to convert between units in ticks, price, currency or a percentage of the position's size.
█ CONCEPTS
The library contains three types of functions:
1 — Functions beginning with `percent` take either a portion of a price, or the current position's entry price and convert it to the value outlined in the function's documentation.
Example: Converting a percent of the current position entry price to ticks, or calculating a percent profit at a given level for the position.
2 — Functions beginning with `tick` convert a tick value to another form.
These are useful for calculating a price or currency value from a specified number of ticks.
3 — Functions containing `Level` are used to calculate a stop or take profit level using an offset in ticks from the current entry price.
These functions can be used to plot stop or take profit levels on the chart, or as arguments to the `limit` and `stop` parameters in strategy.exit() function calls.
Note that these calculated levels flip automatically with the position's bias.
For example, using `ticksToStopLevel()` will calculate a stop level under the entry price for a long position, and above the entry price for a short position.
There are also two functions to assist in calculating a position size using the entry's stop and a fixed risk expressed as a percentage of the current account's equity. By varying the position size this way, you ensure that entries with different stop levels risk the same proportion of equity.
█ NOTES
Example code using some of the library's functions is included at the end of the library. To see it in action, copy the library's code to a new script in the Pine Editor, and “Add to chart”.
For each trade, the code displays:
• The entry level in orange.
• The stop level in fuchsia.
• The take profit level in green.
The stop and take profit levels automatically flip sides based on whether the current position is long or short.
Labels near the last trade's levels display the percentages used to calculate them, which can be changed in the script's inputs.
We plot markers for entries and exits because strategy code in libraries does not display the usual markers for them.
Look first. Then leap.
█ FUNCTIONS
percentToTicks(percent) Converts a percentage of the average entry price to ticks.
Parameters:
percent : (series int/float) The percentage of `strategy.position_avg_price` to convert to ticks. 50 is 50% of the entry price.
Returns: (float) A value in ticks.
percentToPrice(percent) Converts a percentage of the average entry price to a price.
Parameters:
percent : (series int/float) The percentage of `strategy.position_avg_price` to convert to price. 50 is 50% of the entry price.
Returns: (float) A value in the symbol's quote currency (USD for BTCUSD).
percentToCurrency(price, percent) Converts the percentage of a price to money.
Parameters:
price : (series int/float) The symbol's price.
percent : (series int/float) The percentage of `price` to calculate.
Returns: (float) A value in the symbol's currency.
percentProfit(exitPrice) Calculates the profit (as a percentage of the position's `strategy.position_avg_price` entry price) if the trade is closed at `exitPrice`.
Parameters:
exitPrice : (series int/float) The potential price to close the position.
Returns: (float) Percentage profit for the current position if closed at the `exitPrice`.
priceToTicks(price) Converts a price to ticks.
Parameters:
price : (series int/float) Price to convert to ticks.
Returns: (float) A quantity of ticks.
ticksToPrice(price) Converts ticks to a price offset from the average entry price.
Parameters:
price : (series int/float) Ticks to convert to a price.
Returns: (float) A price level that has a distance from the entry price equal to the specified number of ticks.
ticksToCurrency(ticks) Converts ticks to money.
Parameters:
ticks : (series int/float) Number of ticks.
Returns: (float) Money amount in the symbol's currency.
ticksToStopLevel(ticks) Calculates a stop loss level using a distance in ticks from the current `strategy.position_avg_price` entry price. This value can be plotted on the chart, or used as an argument to the `stop` parameter of a `strategy.exit()` call. NOTE: The stop level automatically flips based on whether the position is long or short.
Parameters:
ticks : (series int/float) The distance in ticks from the entry price to the stop loss level.
Returns: (float) A stop loss level for the current position.
ticksToTpLevel(ticks) Calculates a take profit level using a distance in ticks from the current `strategy.position_avg_price` entry price. This value can be plotted on the chart, or used as an argument to the `limit` parameter of a `strategy.exit()` call. NOTE: The take profit level automatically flips based on whether the position is long or short.
Parameters:
ticks : (series int/float) The distance in ticks from the entry price to the take profit level.
Returns: (float) A take profit level for the current position.
calcPositionSizeByStopLossTicks(stopLossTicks, riskPercent) Calculates the position size needed to implement a given stop loss (in ticks) corresponding to `riskPercent` of equity.
Parameters:
stopLossTicks : (series int) The stop loss (in ticks) that will be used to protect the position.
riskPercent : (series int/float) The maximum risk level as a percent of current equity (`strategy.equity`).
Returns: (int) A quantity of contracts.
calcPositionSizeByStopLossPercent(stopLossPercent, riskPercent, entryPrice) Calculates the position size needed to implement a given stop loss (%) corresponding to `riskPercent` of equity.
Parameters:
stopLossPercent : (series int/float) The stop loss in percent that will be used to protect the position.
riskPercent : (series int/float) The maximum risk level as a percent of current equity (`strategy.equity`).
entryPrice : (series int/float) The entry price of the position.
Returns: (int) A quantity of contracts.
exitPercent(id, lossPercent, profitPercent, qty, qtyPercent, comment, when, alertMessage) A wrapper of the `strategy.exit()` built-in which adds the possibility to specify loss & profit in as a value in percent. NOTE: this function may work incorrectly with pyramiding turned on due to the use of `strategy.position_avg_price` in its calculations of stop loss and take profit offsets.
Parameters:
id : (series string) The order identifier of the `strategy.exit()` call.
lossPercent : (series int/float) Stop loss as a percent of the entry price.
profitPercent : (series int/float) Take profit as a percent of the entry price.
qty : (series int/float) Number of contracts/shares/lots/units to exit a trade with. The default value is `na`.
qtyPercent : (series int/float) The percent of the position's size to exit a trade with. If `qty` is `na`, the default value of `qty_percent` is 100.
comment : (series string) Optional. Additional notes on the order.
when : (series bool) Condition of the order. The order is placed if it is true.
alertMessage : (series string) An optional parameter which replaces the {{strategy.order.alert_message}} placeholder when it is used in the "Create Alert" dialog box's "Message" field.
action zone - ATR stop reverse order strategy v0.1 by 9nckACTION ZONE-ATR MOD v0.1 DOCUMENTATION
Overview
This tradingview pine script strategy is mainly created to enrich my coding skill. It is a combination of “CDC-ACTIONZONE” and my personal studies of trading techniques in various sources e.g.book, course or blog. This strategy purposefully built to connect with my automatic trading bot. However, It will be very useful to aid your trading routine by diminishing mental distraction which possibly leads to bad trades.
How does it work?
This strategy will do a basic simple thing that most traders do by creating entry signals on both sides long/short and also set the stop loss. Furthermore, It will also reverse the order (from long to short and vice versa (if long/short conditions are met). Finally, it will recalculate the stop loss/take profit price in every complete bar to increase the chance of winning and limit our loss.
Entry rules(Long/Short)
If you have no open order, an order will be created when a fast EMA crosses(up(long)/down(short) the slow EMA(It’s as simple as that).
If you have an open order, the current order will be (sold if long, covered if short) and the opposite side order will be created.
Exit and Reverse rules(Long/Short)
If fast EMA cross (DOWN(long), UP(short)), the current order will be closed, THE OPPOSITE SIDE ORDER WILL ALSO BE CREATED.
Risk management
FLEX STOP PRICE : initial value will be set at the bar which order created. It is a fast ema (+/-) MIDDLE ATR value.
If MIDDLE ATR value rises, it will be our new stop price.
If MIDDLE ATR value falls, stop price unchanged
If Price OVERBOUGHT(long)/SOLD(short), LOW of that bar will be a new stop price.
Minimum position hold period
In order to eliminate risk of repeatedly open, close orders in sideway trends. Minimum hold period must be passed to start exit our position. However, It always respects stop loss prices. The value refers to the number of bars.
MUST READ!!!
This strategy uses only MARKET ORDER. If you trade with a bot, make sure you choose only enormous market cap tokens.
This strategy is bi-direction strategy. It will work best in the DERIVATIVE market.
It was initially designed to compete in the cryptocurrency market which has very high volume and volatility.
I only use this strategy in 1HR (acceptable change rate, optimum trade frequency)
How (should) we use it?
Choose crypto future pairs (recommend only top 10-15 market volume pairs in Binance, let’s say 1000M+ trade value)
Choose your time frame (1H is strongly recommended)
Setup your portfolio profile (Setting->Properties) such as Initial cap, order size, commission. DO NOT USE CAL ON EVERY TICK IT WILL CAUSE REPAINTING AND YOUR CAPITAL IS BLEEDING !!!
BACKTEST FIRST!! Back test is a combination of art, math and statis(and a bit of luck). You can apply to train and test methods or whatever you are familiar with. In my opinion, your test period should include UPTREND, SIDEWAY, DOWNTREND. Fine tune fast, slow ema first(my best ema length of 1H timeframe around 7-10, 17-22). Try to eliminate fault breakout trade and use other options only necessary. Hopefully we can use automatic optimization on Pine Script soon.
Don’t forget to turn off using a specific backtest date option to start your strategy.A
THIS IS NOT A PERFECT (OR EVEN PROFITABLE) STRATEGY. USE AT YOUR OWN RISK AND TRADE RESPONSIBLY. DYOR DUDE.
ADX and DI-BolarinwaThe Average Directional Movement Index (ADX) is a technical indicator that measures the strength of a trend. While the indicator itself doesn’t give an insight into the direction of the trend, the Directional Movement lines can be used to determine if the market moves up or down.
The ADX can return a value between 0 and 100. The usual threshold for a market to be considered as trending by the ADX is a value of 25 or above. Values between 25 and 50 signal a trending market, between 50 and 75 very strong trends and between 75 and 100 extremely strong trends.
The ADX Crossover Trading Strategy
A popular trading strategy to trade on the ADX is based on a crossover of the directional movement lines (+DI and -DI) which was developed directly by the indicator’s creator Mr. Wilder.
The trading strategy states that the first condition for a trade setup is that the ADX has a value of 25 or above, which indicates a trending market.
A buy order is triggered when +DI crosses above -DI, i.e. the underlying trend is an uptrend, while a sell signal is triggered when -DI crosses above +DI, i.e. the underlying trend is a downtrend.
Stop-losses are placed at the low of the current trading day, and the trade setup remains valid even if the directional movement lines cross again after the trade signal. Only a break of the current trading day’s low would lead to the trade setup becoming invalid.
If the ADX remains above 25 or rises even higher, indicating that the strength of the underlying trend increases, then traders can put a trailing stop on the trade.
The following chart shows an example of the ADX crossover strategy on the daily EUR/USD pair.
ADX Crossover Strategy
The first cross of -DI above +DI didn’t send a sell signal because the ADX was below 25. The sell signal came with ADX crossing above 25, while the -DI was still above +DI. On the chart, the SL was put just above the day’s high.
The second signal was a buy signal, with the cross of +DI above -DI and the ADX above 25, signaling a strong trend. The stop-loss is placed just below the day’s low, indicated by the dotted line on the chart.
Finally, the third sell signal came with the cross of -DI above -DI and the ADX above 25. Again, the stop-loss is placed just above the day’s high.
While the ADX crossover strategy can also be applied to lower timeframes, you need to be aware that the increased market noise may create more false signals than on the higher timeframes. The following chart is a 5-minute chart with buy and sell signals based on the crossover strategy. Notice that we placed the stop-losses slightly different than in the previous example. In this case, stop-losses have been placed at the recent highs and lows of the price.
ADX Trading Graph
The first buy signal came with +DI crossing above -DI and ADX above 25. In the middle of the chart, you can notice the crosses of the directional movement lines (+DI and -DI) while the ADX was below 25. As ADX needs to be above 25, those crosses are not used as entry triggers based on the ADX crossover strategy.
After that we received a sell signal with -DI crossing above +DI and ADX above 25, which is followed by a buy signal when +DI crossed above -DI.
Using ADX for Trade Confirmations
Beside the ADX crossover strategy which is based on the crosses of +DI and -DI, traders can also use the ADX indicator to supplement other trading strategies. For example, you might want to use a trend-following strategy when ADX shows a strong trend (value above 25), or a trading strategy that is more suited for ranging markets in times when the ADX shows an absence of trends (value below 25).
Before You Trade
The Average Directional Movement Index is a versatile technical indicator that can be used as a stand-alone trading strategy, or in combination with other trading strategies. The ADX crossover strategy is based on the crossover of the directional movement lines (+DI and -DI) and an ADX reading of above 25. While it can be used across all timeframes, it usually returns the best results on higher ones.
As the ADX measures the strength of the underlying trend, trend-following traders can use it to filter flat and ranging markets and avoid trading during those times.
888 BOT #backtest█ 888 BOT #backtest (open source)
This is an Expert Advisor 'EA' or Automated trading script for ‘longs’ and ‘shorts’, which uses only a Take Profit or, in the worst case, a Stop Loss to close the trade.
It's a much improved version of the previous ‘Repanocha’. It doesn`t use 'Trailing Stop' or 'security()' functions (although using a security function doesn`t mean that the script repaints) and all signals are confirmed, therefore the script doesn`t repaint in alert mode and is accurate in backtest mode.
Apart from the previous indicators, some more and other functions have been added for Stop-Loss, re-entry and leverage.
It uses 8 indicators, (many of you already know what they are, but in case there is someone new), these are the following:
1. Jurik Moving Average
It's a moving average created by Mark Jurik for professionals which eliminates the 'lag' or delay of the signal. It's better than other moving averages like EMA , DEMA , AMA or T3.
There are two ways to decrease noise using JMA . Increasing the 'LENGTH' parameter will cause JMA to move more slowly and therefore reduce noise at the expense of adding 'lag'
The 'JMA LENGTH', 'PHASE' and 'POWER' parameters offer a way to select the optimal balance between 'lag' and over boost.
Green: Bullish , Red: Bearish .
2. Range filter
Created by Donovan Wall, its function is to filter or eliminate noise and to better determine the price trend in the short term.
First, a uniform average price range 'SAMPLING PERIOD' is calculated for the filter base and multiplied by a specific quantity 'RANGE MULTIPLIER'.
The filter is then calculated by adjusting price movements that do not exceed the specified range.
Finally, the target ranges are plotted to show the prices that will trigger the filter movement.
Green: Bullish , Red: Bearish .
3. Average Directional Index ( ADX Classic) and ( ADX Masanakamura)
It's an indicator designed by Welles Wilder to measure the strength and direction of the market trend. The price movement is strong when the ADX has a positive slope and is above a certain minimum level 'ADX THRESHOLD' and for a given period 'ADX LENGTH'.
The green color of the bars indicates that the trend is bullish and that the ADX is above the level established by the threshold.
The red color of the bars indicates that the trend is down and that the ADX is above the threshold level.
The orange color of the bars indicates that the price is not strong and will surely lateralize.
You can choose between the classic option and the one created by a certain 'Masanakamura'. The main difference between the two is that in the first it uses RMA () and in the second SMA () in its calculation.
4. Parabolic SAR
This indicator, also created by Welles Wilder, places points that help define a trend. The Parabolic SAR can follow the price above or below, the peculiarity that it offers is that when the price touches the indicator, it jumps to the other side of the price (if the Parabolic SAR was below the price it jumps up and vice versa) to a distance predetermined by the indicator. At this time the indicator continues to follow the price, reducing the distance with each candle until it is finally touched again by the price and the process starts again. This procedure explains the name of the indicator: the Parabolic SAR follows the price generating a characteristic parabolic shape, when the price touches it, stops and turns ( SAR is the acronym for 'stop and reverse'), giving rise to a new cycle. When the points are below the price, the trend is up, while the points above the price indicate a downward trend.
5. RSI with Volume
This indicator was created by LazyBear from the popular RSI .
The RSI is an oscillator-type indicator used in technical analysis and also created by Welles Wilder that shows the strength of the price by comparing individual movements up or down in successive closing prices.
LazyBear added a volume parameter that makes it more accurate to the market movement.
A good way to use RSI is by considering the 50 'RSI CENTER LINE' centerline. When the oscillator is above, the trend is bullish and when it is below, the trend is bearish .
6. Moving Average Convergence Divergence ( MACD ) and ( MAC-Z )
It was created by Gerald Appel. Subsequently, the histogram was added to anticipate the crossing of MA. Broadly speaking, we can say that the MACD is an oscillator consisting of two moving averages that rotate around the zero line. The MACD line is the difference between a short moving average 'MACD FAST MA LENGTH' and a long moving average 'MACD SLOW MA LENGTH'. It's an indicator that allows us to have a reference on the trend of the asset on which it is operating, thus generating market entry and exit signals.
We can talk about a bull market when the MACD histogram is above the zero line, along with the signal line, while we are talking about a bear market when the MACD histogram is below the zero line.
There is the option of using the MAC-Z indicator created by LazyBear, which according to its author is more effective, by using the parameter VWAP ( volume weighted average price ) 'Z-VWAP LENGTH' together with a standard deviation 'STDEV LENGTH' in its calculation.
7. Volume Condition
Volume indicates the number of participants in this war between bulls and bears, the more volume the more likely the price will move in favor of the trend. A low trading volume indicates a lower number of participants and interest in the instrument in question. Low volumes may reveal weakness behind a price movement.
With this condition, those signals whose volume is less than the volume SMA for a period 'SMA VOLUME LENGTH' multiplied by a factor 'VOLUME FACTOR' are filtered. In addition, it determines the leverage used, the more volume , the more participants, the more probability that the price will move in our favor, that is, we can use more leverage. The leverage in this script is determined by how many times the volume is above the SMA line.
The maximum leverage is 8.
8. Bollinger Bands
This indicator was created by John Bollinger and consists of three bands that are drawn superimposed on the price evolution graph.
The central band is a moving average, normally a simple moving average calculated with 20 periods is used. ('BB LENGTH' Number of periods of the moving average)
The upper band is calculated by adding the value of the simple moving average X times the standard deviation of the moving average. ('BB MULTIPLIER' Number of times the standard deviation of the moving average)
The lower band is calculated by subtracting the simple moving average X times the standard deviation of the moving average.
the band between the upper and lower bands contains, statistically, almost 90% of the possible price variations, which means that any movement of the price outside the bands has special relevance.
In practical terms, Bollinger bands behave as if they were an elastic band so that, if the price touches them, it has a high probability of bouncing.
Sometimes, after the entry order is filled, the price is returned to the opposite side. If price touch the Bollinger band in the same previous conditions, another order is filled in the same direction of the position to improve the average entry price, (% MINIMUM BETTER PRICE ': Minimum price for the re-entry to be executed and that is better than the price of the previous position in a given %) in this way we give the trade a chance that the Take Profit is executed before. The downside is that the position is doubled in size. 'ACTIVATE DIVIDE TP': Divide the size of the TP in half. More probability of the trade closing but less profit.
█ STOP LOSS and RISK MANAGEMENT.
A good risk management is what can make your equity go up or be liquidated.
The % risk is the percentage of our capital that we are willing to lose by operation. This is recommended to be between 1-5%.
% Risk: (% Stop Loss x % Equity per trade x Leverage) / 100
First the strategy is calculated with Stop Loss, then the risk per operation is determined and from there, the amount per operation is calculated and not vice versa.
In this script you can use a normal Stop Loss or one according to the ATR. Also activate the option to trigger it earlier if the risk percentage is reached. '% RISK ALLOWED'
'STOP LOSS CONFIRMED': The Stop Loss is only activated if the closing of the previous bar is in the loss limit condition. It's useful to prevent the SL from triggering when they do a ‘pump’ to sweep Stops and then return the price to the previous state.
█ BACKTEST
The objective of the Backtest is to evaluate the effectiveness of our strategy. A good Backtest is determined by some parameters such as:
- RECOVERY FACTOR: It consists of dividing the 'net profit' by the 'drawdown’. An excellent trading system has a recovery factor of 10 or more; that is, it generates 10 times more net profit than drawdown.
- PROFIT FACTOR: The ‘Profit Factor’ is another popular measure of system performance. It's as simple as dividing what win trades earn by what loser trades lose. If the strategy is profitable then by definition the 'Profit Factor' is going to be greater than 1. Strategies that are not profitable produce profit factors less than one. A good system has a profit factor of 2 or more. The good thing about the ‘Profit Factor’ is that it tells us what we are going to earn for each dollar we lose. A profit factor of 2.5 tells us that for every dollar we lose operating we will earn 2.5.
- SHARPE: (Return system - Return without risk) / Deviation of returns.
When the variations of gains and losses are very high, the deviation is very high and that leads to a very poor ‘Sharpe’ ratio. If the operations are very close to the average (little deviation) the result is a fairly high 'Sharpe' ratio. If a strategy has a 'Sharpe' ratio greater than 1 it is a good strategy. If it has a 'Sharpe' ratio greater than 2, it is excellent. If it has a ‘Sharpe’ ratio less than 1 then we don't know if it is good or bad, we have to look at other parameters.
- MATHEMATICAL EXPECTATION: (% winning trades X average profit) + (% losing trades X average loss).
To earn money with a Trading system, it is not necessary to win all the operations, what is really important is the final result of the operation. A Trading system has to have positive mathematical expectation as is the case with this script: ME = (0.87 x 30.74$) - (0.13 x 56.16$) = (26.74 - 7.30) = 19.44$ > 0
The game of roulette, for example, has negative mathematical expectation for the player, it can have positive winning streaks, but in the long term, if you continue playing you will end up losing, and casinos know this very well.
PARAMETERS
'BACKTEST DAYS': Number of days back of historical data for the calculation of the Backtest.
'ENTRY TYPE': For '% EQUITY' if you have $ 10,000 of capital and select 7.5%, for example, your entry would be $ 750 without leverage. If you select CONTRACTS for the 'BTCUSDT' pair, for example, it would be the amount in 'Bitcoins' and if you select 'CASH' it would be the amount in $ dollars.
'QUANTITY (LEVERAGE 1X)': The amount for an entry with X1 leverage according to the previous section.
'MAXIMUM LEVERAGE': It's the maximum allowed multiplier of the quantity entered in the previous section according to the volume condition.
The settings are for Bitcoin at Binance Futures (BTC: USDTPERP) in 15 minutes.
For other pairs and other timeframes, the settings have to be adjusted again. And within a month, the settings will be different because we all know the market and the trend are changing.
BEST Standalone Trade Manager with Automatic Take ProfitHello BEST traders
The BEST Trade Manager got upgraded with many more features
This version allows setting automatically the TP levels on either Daily/Weekly/Monthly Fibonacci/Traditional/Camarilla/Woodie pivots and Daily/Weekly/Monthly/Intraday Moving Averages
I. 💎 SCRIPTS ACCESS 💎
1. Available only with one-time payment on my website.
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here: Daveatt
3. Many video tutorials explaining clearly how all our indicators work are available on your website > guides section.
4. You may also contact me directly for more information
II. 🔎 What is the BEST Trade Manager?🔎
2.1 Concept
The BEST Trade Manager is compatible with any indicator.
Once connected, it adds another layer of good stuff with real-time user custom defined stop loss (8 available options), take profits (4 possible options) + alerts compatible for trading automation.
2.2 How hard is it to update your indicator?
We'll send to our customers, a comprehensive and easy tutorial, to make any indicator compatible.
I guarantee you, it should take no more than 2 minutes per indicator. We made it easy, fun, and awesome. #bolder #statement
III. The amazing benefits of our Plug&Play system
I hope you're ready to be impressed. Because, what I'm about to introduce, is my best-seller feature - and available across many of my indicators.
The BEST Trade manager can be connected to any external indicator
Let's assume you want to connect your RSI divergence to your Trade Manager.
I mentioned an RSI divergence but you may connect any oscillator ( MACD, On balance volume, stochastic RSI, True Strenght index, and many more..) or non-oscillatory (divergence, trendline break, higher highs/lower lows, candlesticks pattern, price action, harmonic patterns, ...) indicators.
THE SKY IS (or more likely your imagination) is the limit :)
Of course, this tool is compatible with my other indicators
We go in-depth on our website why the Plug&Play is an untapped opportunity for many traders out there - URL available on my profile status and signature
IV. 🧰 Features 🧰
Candles can be colored to highlight the trend direction better [/b [
4.1 Stop-Loss Management
For what's following, let's assume that 2 is the stop-loss value you inserted in the indicator, and the Algorithm Builder gives a BUY signal.
This is NOT a recommendation at all, only an example to explain how this feature works.
- %Trailing: The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit
- Pips Trailing: Same as above but using a distance in pips/USD value
- Percentage: The Stop-Loss stays static 2% away from the entry price. There is no trailing here
- TP Trailing: Trail your stop-loss every time a Take Profit level is hit
- Supertrend: embedded supertrend use as a trailing stop
- Fixed: Set the Stop-Loss at a fixed position (value should be in currency/units)
- ATR multiple: Set the Stop-loss at a multiple of ATR
- External connector: Let's say your indicator already contains embedded stop-loss levels, you can add them in the Trade Manager
4.2 Take Profits Management
You can manage up to 3 take profit levels defined as a percentage or price value or ATR multiple.
The expected input is in percentage value (for instance, setting the % target of TP1 to 2% will set the TP1 level 2% away from the entry price
This version allows setting automatically the TP levels on either Daily/Weekly/Monthly Fibonacci/Traditional/Camarilla/Woodie pivots and Daily/Weekly/Monthly/Intraday Moving Averages
4.3 Built-in Risk-to-Reward Panel with real-time analytics
The good stuff doesn't stop here.
You'll notice that this sometimes green (when in a LONG), sometimes red (when in a SHORT) panel at the right of your chart.
- Entry Price: the price when the Algorithm Builder will give a signal.
- The Trade PnL in percentage.
- Entry Stop Loss: Distance (in currency/units) between the selected stop-loss algorithm (percent, trailing, TP trailing, etc.) and the entry price.
- Entry TP1/TP2/TP3: Distance (in currency/units) between the entry price and the first take profit
- Risk/Reward TP1/TP2/TP3: Using the Stop-loss distance at entry, and Take Profit 1/2/3 at the entry to compute the risk-to-reward ratio.
- Max drawdown and Max opportunity (value and percentage): respectively the maximum loss and maximum win per trade
For more details, please check the guides section of my website. Links are in my signature and profile status.
V. 🔔 Alerts 🔔
We enabled the alerts on the:
1. Stop-Loss hit
2. Take Profit 1/2/3 hit
3. custom hard exits based on either MACD / RSI divergence/ MM cross
5.1 🤖 Compatible with trading bots? 🤖
It's compatible with all third-parties out there capturing alerts and forwarding them to the brokers.
We enabled TradingConnector and ProfitView alert templates so far.
If you have any doubts or questions, please hit me up directly or ask in the comments section of this script.
BEST regards,
Dave
Buy/Sell/TP/SL/TSL Alerts ModuleThis tool is not a self-sufficient indicator, just an attachable module that allows you to enhance a specific indicator with risk management components without having a headache.
What you need to do, and actually this is the most important step, is to rewrite your indicator to a buy-sell signal form which will output only -1, 0, 1 values and then connect it to the module.
After that the module gives you a lot of possibilities to customize Take Profit, Stop Loss and Trailing Stop Loss levels through the settings window and to set all the alerts you need up.
Simple Buy/Sell setup for the RSI:
Now I am adding Stop Loss:
and Take Profit:
and finally Trailing Stop Loss:
Okay, I have shown how it works with RSI signals. Here is example for the MACD:
and example for the WaveTrend Oscillator:
If you have any questions don't hesitate to ask and contact me either via private messages on TradingView or via Telegram
SIDD-Master-Moving-AverageSIDD-Master-Moving-Average is based on RSI average calculation Moving average plotted on chart.
This Moving Average is giving 2 signals Bullish and Bearish .
Whenever Bullish signals is coming price is doing crossover with moving average on upside and this indicate price will go up from current market price.
Whenever Bearish signals is coming price is doing cross-under with moving average on downside and this indicate price will go down from current market price.
Moving average color is changing based on upside movement or downside movement , for upside its green and for downside its orange color.
This indicator i have created with stop loss line means any price close below cross line for bullish position then that trade should be closed and take the stop loss. similarly for Bearish trade and candle close above stop loss line means trade should be closed and take the stop loss.
Stop loss i have taken care with ATR and Super trend you can see the settings.
I have defined setting for general use of indicator if any modification on setting then result may vary.
Its multi time frame moving average. And I have given time frame for indicator as well so if any trending move need to capture then that setting need to be increased with respect to chart time frame else keep it same.
I have added commission and slippages as well in indicator.
Ping me or DM me to subscribe this indicator.
I have given all my indicator details below link (Signature URL). You can check indicators and call me on given number or email me on given email to access the scripts and indicators. Telegram link is also given you can ping me there.
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Disclaimer : Past performance of the indicator is not giving guarantee for future performance as well, it may change as per market condition.
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[Daveatt] BEST Trade Manager Pivots 1.0Hello BEST traders
The BEST Trade Manager got upgraded with many more features
This version allows setting automatically the TP levels on either Fibonacci/Traditional/Camarilla/Woodie pivots
I. 💎 SCRIPTS ACCESS 💎
1. Available only with one-time payment on my website.
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here: Daveatt
3. Many video tutorials explaining clearly how all our indicators work are available on your website > guides section.
4. You may also contact me directly for more information
II. 🔎 What is the BEST Trade Manager?🔎
2.1 Concept
The BEST Trade Manager is compatible with any indicator.
Once connected, it adds another layer of good stuff with real-time user custom defined stop loss (8 available options), take profits (4 possible options) + alerts compatible for trading automation.
2.2 How hard is it to update your indicator?
We'll send to our customers, a comprehensive and easy tutorial, to make any indicator compatible.
I guarantee you, it should take no more than 2 minutes per indicator. We made it easy, fun, and awesome. #bolder #statement
III. The amazing benefits of our Plug&Play system
I hope you're ready to be impressed. Because, what I'm about to introduce, is my best-seller feature - and available across many of my indicators.
The BEST Trade manager can be connected to any external indicator
Let's assume you want to connect your RSI divergence to your Trade Manager.
I mentioned an RSI divergence but you may connect any oscillator ( MACD, On balance volume, stochastic RSI, True Strenght index, and many more..) or non-oscillator (divergence, trendline break, higher highs/lower lows, candlesticks pattern, price action, harmonic patterns, ...) indicators.
THE SKY IS (or more likely your imagination) is the limit :)
We go in-depth on our website why the Plug&Play is an untapped opportunity for many traders out there - URL available on my profile status and signature
IV. 🧰 Features 🧰
Candles can be colored to highlight the trend direction better [/b [
4.1 Stop-Loss Management
For what's following, let's assume that 2 is the stop-loss value you inserted in the indicator, and the Algorithm Builder gives a BUY signal.
This is NOT a recommendation at all, only an example to explain how this feature works.
- %Trailing: The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit
- Pips Trailing: Same as above but using a distance in pips/USD value
- Percentage: The Stop-Loss stays static 2% away from the entry price. There is no trailing here
- TP Trailing: Trail your stop-loss every time a Take Profit level is hit
- Supertrend: embedded supertrend use as a trailing stop
- Fixed: Set the Stop-Loss at a fixed position (value should be in currency/units)
- ATR multiple: Set the Stop-loss at a multiple of ATR
- External connector: Let's say your indicator already contains embedded stop-loss levels, you can add them in the Trade Manager
4.2 Take Profits Management
You can manage up to 3 take profit levels defined as a percentage or price value or ATR multiple.
The expected input is in percentage value (for instance, setting the % target of TP1 to 2% will set the TP1 level 2% away from the entry price
This version allows setting automatically the TP levels on either Fibonacci/Traditional/Camarilla/Woodie pivots
4.3 Built-in Risk-to-Reward Panel with real-time analytics
The good stuff doesn't stop here.
You'll notice that this sometimes green (when in a LONG), sometimes red (when in a SHORT) panel at the right of your chart.
- Entry Price: the price when the Algorithm Builder will give a signal.
- The Trade PnL in percentage.
- Entry Stop Loss: Distance (in currency/units) between the selected stop-loss algorithm (percent, trailing, TP trailing, etc.) and the entry price.
- Entry TP1/TP2/TP3: Distance (in currency/units) between the entry price and the first take profit
- Risk/Reward TP1/TP2/TP3: Using the Stop-loss distance at entry, and Take Profit 1/2/3 at the entry to compute the risk-to-reward ratio.
- Max drawdown and Max opportunity (value and percentage): respectively the maximum loss and maximum win per trade
For more details, please check the guides section of my website. Links are in my signature and profile status.
V. 🔔 Alerts 🔔
We enabled the alerts on the:
1. Stop-Loss hit
2. Take Profit 1/2/3 hit
3. custom hard exits based on either MACD / RSI divergence/ MM cross
5.1 🤖 Compatible with trading bots? 🤖
It's compatible with all third-parties out there capturing alerts and forwarding them to the brokers.
We enabled TradingConnector and ProfitView alert templates so far.
If you have any doubts or questions, please hit me up directly or ask in the comments section of this script.
BEST regards,
Dave
888 BOT #backtest█ 888 BOT #backtest
This is an Expert Advisor 'EA' or Automated trading script for ‘longs’ and ‘shorts’, which uses only a Take Profit or, in the worst case, a Stop Loss to close the trade.
It's a much improved version of the previous ‘Repanocha’. It doesn`t use 'Trailing Stop' or 'security()' functions (although using a security function doesn`t mean that the script repaints) and all signals are confirmed, therefore the script doesn`t repaint in alert mode and is accurate in backtest mode.
Apart from the previous indicators, some more and other functions have been added for Stop-Loss, re-entry and leverage.
It uses 8 indicators, (many of you already know what they are, but in case there is someone new), these are the following:
1. Jurik Moving Average
It's a moving average created by Mark Jurik for professionals which eliminates the 'lag' or delay of the signal. It's better than other moving averages like EMA, DEMA, AMA or T3.
There are two ways to decrease noise using JMA. Increasing the 'LENGTH' parameter will cause JMA to move more slowly and therefore reduce noise at the expense of adding 'lag'
The 'JMA LENGTH', 'PHASE' and 'POWER' parameters offer a way to select the optimal balance between 'lag' and over boost.
Green: Bullish, Red: Bearish.
2. Range filter
Created by Donovan Wall, its function is to filter or eliminate noise and to better determine the price trend in the short term.
First, a uniform average price range 'SAMPLING PERIOD' is calculated for the filter base and multiplied by a specific quantity 'RANGE MULTIPLIER'.
The filter is then calculated by adjusting price movements that do not exceed the specified range.
Finally, the target ranges are plotted to show the prices that will trigger the filter movement.
Green: Bullish, Red: Bearish.
3. Average Directional Index (ADX Classic) and (ADX Masanakamura)
It's an indicator designed by Welles Wilder to measure the strength and direction of the market trend. The price movement is strong when the ADX has a positive slope and is above a certain minimum level 'ADX THRESHOLD' and for a given period 'ADX LENGTH'.
The green color of the bars indicates that the trend is bullish and that the ADX is above the level established by the threshold.
The red color of the bars indicates that the trend is down and that the ADX is above the threshold level.
The orange color of the bars indicates that the price is not strong and will surely lateralize.
You can choose between the classic option and the one created by a certain 'Masanakamura'. The main difference between the two is that in the first it uses RMA () and in the second SMA () in its calculation.
4. Parabolic SAR
This indicator, also created by Welles Wilder, places points that help define a trend. The Parabolic SAR can follow the price above or below, the peculiarity that it offers is that when the price touches the indicator, it jumps to the other side of the price (if the Parabolic SAR was below the price it jumps up and vice versa) to a distance predetermined by the indicator. At this time the indicator continues to follow the price, reducing the distance with each candle until it is finally touched again by the price and the process starts again. This procedure explains the name of the indicator: the Parabolic SAR follows the price generating a characteristic parabolic shape, when the price touches it, stops and turns (SAR is the acronym for 'stop and reverse'), giving rise to a new cycle. When the points are below the price, the trend is up, while the points above the price indicate a downward trend.
5. RSI with Volume
This indicator was created by LazyBear from the popular RSI.
The RSI is an oscillator-type indicator used in technical analysis and also created by Welles Wilder that shows the strength of the price by comparing individual movements up or down in successive closing prices.
LazyBear added a volume parameter that makes it more accurate to the market movement.
A good way to use RSI is by considering the 50 'RSI CENTER LINE' centerline. When the oscillator is above, the trend is bullish and when it is below, the trend is bearish.
6. Moving Average Convergence Divergence (MACD) and (MAC-Z)
It was created by Gerald Appel. Subsequently, the histogram was added to anticipate the crossing of MA. Broadly speaking, we can say that the MACD is an oscillator consisting of two moving averages that rotate around the zero line. The MACD line is the difference between a short moving average 'MACD FAST MA LENGTH' and a long moving average 'MACD SLOW MA LENGTH'. It's an indicator that allows us to have a reference on the trend of the asset on which it is operating, thus generating market entry and exit signals.
We can talk about a bull market when the MACD histogram is above the zero line, along with the signal line, while we are talking about a bear market when the MACD histogram is below the zero line.
There is the option of using the MAC-Z indicator created by LazyBear, which according to its author is more effective, by using the parameter VWAP (volume weighted average price) 'Z-VWAP LENGTH' together with a standard deviation 'STDEV LENGTH' in its calculation.
7. Volume Condition
Volume indicates the number of participants in this war between bulls and bears, the more volume the more likely the price will move in favor of the trend. A low trading volume indicates a lower number of participants and interest in the instrument in question. Low volumes may reveal weakness behind a price movement.
With this condition, those signals whose volume is less than the volume SMA for a period 'SMA VOLUME LENGTH' multiplied by a factor 'VOLUME FACTOR' are filtered. In addition, it determines the leverage used, the more volume, the more participants, the more probability that the price will move in our favor, that is, we can use more leverage. The leverage in this script is determined by how many times the volume is above the SMA line.
The maximum leverage is 8.
8. Bollinger Bands
This indicator was created by John Bollinger and consists of three bands that are drawn superimposed on the price evolution graph.
The central band is a moving average, normally a simple moving average calculated with 20 periods is used. ('BB LENGTH' Number of periods of the moving average)
The upper band is calculated by adding the value of the simple moving average X times the standard deviation of the moving average. ('BB MULTIPLIER' Number of times the standard deviation of the moving average)
The lower band is calculated by subtracting the simple moving average X times the standard deviation of the moving average.
the band between the upper and lower bands contains, statistically, almost 90% of the possible price variations, which means that any movement of the price outside the bands has special relevance.
In practical terms, Bollinger bands behave as if they were an elastic band so that, if the price touches them, it has a high probability of bouncing.
Sometimes, after the entry order is filled, the price is returned to the opposite side. If price touch the Bollinger band in the same previous conditions, another order is filled in the same direction of the position to improve the average entry price, (% MINIMUM BETTER PRICE ': Minimum price for the re-entry to be executed and that is better than the price of the previous position in a given %) in this way we give the trade a chance that the Take Profit is executed before. The downside is that the position is doubled in size. 'ACTIVATE DIVIDE TP': Divide the size of the TP in half. More probability of the trade closing but less profit.
█ STOP LOSS and RISK MANAGEMENT.
A good risk management is what can make your equity go up or be liquidated.
The % risk is the percentage of our capital that we are willing to lose by operation. This is recommended to be between 1-5%.
% Risk: (% Stop Loss x % Equity per trade x Leverage) / 100
First the strategy is calculated with Stop Loss, then the risk per operation is determined and from there, the amount per operation is calculated and not vice versa.
In this script you can use a normal Stop Loss or one according to the ATR. Also activate the option to trigger it earlier if the risk percentage is reached. '% RISK ALLOWED'
'STOP LOSS CONFIRMED': The Stop Loss is only activated if the closing of the previous bar is in the loss limit condition. It's useful to prevent the SL from triggering when they do a ‘pump’ to sweep Stops and then return the price to the previous state.
█ BACKTEST
The objective of the Backtest is to evaluate the effectiveness of our strategy. A good Backtest is determined by some parameters such as:
- RECOVERY FACTOR: It consists of dividing the 'net profit' by the 'drawdown’. An excellent trading system has a recovery factor of 10 or more; that is, it generates 10 times more net profit than drawdown.
- PROFIT FACTOR: The ‘Profit Factor’ is another popular measure of system performance. It's as simple as dividing what win trades earn by what loser trades lose. If the strategy is profitable then by definition the 'Profit Factor' is going to be greater than 1. Strategies that are not profitable produce profit factors less than one. A good system has a profit factor of 2 or more. The good thing about the ‘Profit Factor’ is that it tells us what we are going to earn for each dollar we lose. A profit factor of 2.5 tells us that for every dollar we lose operating we will earn 2.5.
- SHARPE: (Return system - Return without risk) / Deviation of returns.
When the variations of gains and losses are very high, the deviation is very high and that leads to a very poor ‘Sharpe’ ratio. If the operations are very close to the average (little deviation) the result is a fairly high 'Sharpe' ratio. If a strategy has a 'Sharpe' ratio greater than 1 it is a good strategy. If it has a 'Sharpe' ratio greater than 2, it is excellent. If it has a ‘Sharpe’ ratio less than 1 then we don't know if it is good or bad, we have to look at other parameters.
- MATHEMATICAL EXPECTATION: (% winning trades X average profit) + (% losing trades X average loss).
To earn money with a Trading system, it is not necessary to win all the operations, what is really important is the final result of the operation. A Trading system has to have positive mathematical expectation as is the case with this script: ME = (0.87 x 30.74$) - (0.13 x 56.16$) = (26.74 - 7.30) = 19.44$ > 0
The game of roulette, for example, has negative mathematical expectation for the player, it can have positive winning streaks, but in the long term, if you continue playing you will end up losing, and casinos know this very well.
PARAMETERS
'BACKTEST DAYS': Number of days back of historical data for the calculation of the Backtest.
'ENTRY TYPE': For '% EQUITY' if you have $ 10,000 of capital and select 7.5%, for example, your entry would be $ 750 without leverage. If you select CONTRACTS for the 'BTCUSDT' pair, for example, it would be the amount in 'Bitcoins' and if you select 'CASH' it would be the amount in $ dollars.
'QUANTITY (LEVERAGE 1X)': The amount for an entry with X1 leverage according to the previous section.
'MAXIMUM LEVERAGE': It's the maximum allowed multiplier of the quantity entered in the previous section according to the volume condition.
The settings are for Bitcoin at Binance Futures (BTC: USDTPERP) in 30 minutes.
For other pairs and other timeframes, the settings have to be adjusted again. And within a month, the settings will be different because we all know the market and the trend are changing.
█ 888 BOT (SPANISH)
Este es un Expert Advisor 'EA' o script de trading automatizado para ‘longs’ y ‘shorts’, el cual, utiliza solo un Take Profit o, en el peor de los casos, un Stop Loss para cerrar el trade.
Es una versión muy mejorada del anterior ‘Repanocha’. No utiliza ‘Trailing Stop’, ni funciones ‘security()’ (aunque usar una función security no significa que el script repinte) y todas las señales son confirmadas, por consiguiente, el script no repinta en modo alertas y es preciso en en el modo backtest.
Aparte de los anteriores indicadores se han añadido algunos más y otras funciones para Stop-Loss, de re-entrada y apalancamiento.
Utiliza 8 indicadores, (muchos ya sabéis sobradamente lo que son, pero por si hay alguien nuevo), son los siguientes:
1. Jurik Moving Average
Es una media móvil creada por Mark Jurik para profesionales la cual elimina el ‘lag’ o retardo de la señal. Es mejor que otras medias móviles como la EMA, DEMA, AMA o T3.
Hay dos formas de disminuir el ruido utilizando JMA. El aumento del parámetro 'LENGTH' hará que JMA se mueva más lentamente y, por lo tanto, reducirá el ruido a expensas de añadir ‘lag’
Los parámetros 'JMA LENGTH', 'PHASE' y 'POWER' ofrecen una forma de seleccionar el equilibrio óptimo entre ‘lag’ y sobre impulso.
Verde : Alcista, Rojo: Bajista.
2. Range filter
Creado por Donovan Wall, su función es la de filtrar o eliminar el ruido y poder determinar mejor la tendencia del precio a corto plazo.
Primero, se calcula un rango de precio promedio uniforme 'SAMPLING PERIOD' para la base del filtro y se multiplica por una cantidad específica 'RANGE MULTIPLIER'.
A continuación, el filtro se calcula ajustando los movimientos de precios que no exceden el rango especificado.
Por último, los rangos objetivo se trazan para mostrar los precios que activarán el movimiento del filtro.
Verde : Alcista, Rojo: Bajista.
3. Average Directional Index (ADX Classic) y (ADX Masanakamura)
Es un indicador diseñado por Welles Wilder para medir la fuerza y dirección de la tendencia del mercado. El movimiento del precio tiene fuerza cuando el ADX tiene pendiente positiva y está por encima de cierto nivel mínimo 'ADX THRESHOLD' y para un periodo dado 'ADX LENGTH'.
El color verde de las barras indica que la tendencia es alcista y que el ADX está por encima del nivel establecido por el threshold.
El color Rojo de las barras indica que la tendencia es bajista y que el ADX está por encima del nivel de threshold.
El color naranja de las barras indica que el precio no tiene fuerza y seguramente lateralizará.
Se puede elegir entre la opción clásica y la creada por un tal 'Masanakamura'. La diferencia principal entre los dos es que en el primero utiliza RMA() y en el segundo SMA() en su cálculo.
4. Parabolic SAR
Este indicador, creado también por Welles Wilder, coloca puntos que ayudan a definir una tendencia. El Parabolic SAR puede seguir al precio por encima o por debajo, la particularidad que ofrece es que cuando el precio toca al indicador, este salta al otro lado del precio (si el Parabolic SAR estaba por debajo del precio salta arriba y viceversa) a una distancia predeterminada por el indicador. En este momento el indicador vuelve a seguir al precio, reduciendo la distancia con cada vela hasta que finalmente es tocado otra vez por el precio y se vuelve a iniciar el proceso. Este procedimiento explica el nombre del indicador: el Parabolic SAR va siguiendo al precio generando una característica forma parabólica, cuando el precio lo toca, se para y da la vuelta (SAR son las siglas en inglés de ‘stop and reverse’), dando lugar a un nuevo ciclo. Cuando los puntos están por debajo del precio, la tendencia es alcista, mientras que los puntos por encima del precio indica una tendencia bajista.
5. RSI with Volume
Este indicador lo creo un tal LazyBear de TV a partir del popular RSI.
El RSI es un indicador tipo oscilador utilizado en análisis técnico y creado también por Welles Wilder que muestra la fuerza del precio mediante la comparación de los movimientos individuales al alza o a la baja de los sucesivos precios de cierre.
LazyBear le añadió un parámetro de volumen que lo hace más preciso al movimiento del mercado.
Una buena forma de usar el RSI es teniendo en cuenta la línea central de 50 'RSI CENTER LINE'. Cuando el oscilador está por encima, la tendencia es alcista y cuando está por debajo la tendencia es bajista.
6. Moving Average Convergence Divergence (MACD) y (MAC-Z)
Fue creado por Gerald Appel. Posteriormente se añadió el histograma para anticipar el cruce de medias. A grandes rasgos podemos decir que el MACD es un oscilador consistente en dos medias móviles que van girando en torno a la línea de cero. La línea del MACD no es más que la diferencia entre una media móvil corta 'MACD FAST MA LENGTH' y una media móvil larga 'MACD SLOW MA LENGTH'. Es un indicador que nos permite tener una referencia sobre la tendencia del activo sobre el cual se está operando, generando de este modo señales de entrada y salida del mercado.
Podemos hablar de mercado alcista cuando el histograma del MACD se sitúe por encima de la línea cero, junto con la línea de señal, mientras que hablaremos de mercado bajista cuando el histograma MACD se situará por debajo de la línea cero.
Está la opción de utilizar el indicador MAC-Z creado por LazyBear que según su autor es más eficaz, por utilizar el parámetro VWAP (precio medio ponderado por volumen) 'Z-VWAP LENGTH' junto con una desviación standard 'STDEV LENGTH' en su cálculo.
7. Volume Condition
El volumen indica el número de participantes en esta guerra entre toros y osos, cuanto más volumen más probabilidad de que se mueva el precio a favor de la tendencia. Un volumen bajo de negociación indica un menor número de participantes e interés por el instrumento en cuestión. Los bajos volúmenes pueden revelar debilidad detrás de un movimiento de precios.
Con esta condición se filtran aquellas señales cuyo volumen es inferior a la SMA de volumen para un periodo 'SMA VOLUME LENGTH' multiplicado por un factor 'VOLUME FACTOR'. Además, determina el apalancamiento utilizado, a más volumen, más participantes, más probabilidad de que se mueva el precio a nuestro favor, es decir, podemos utilizar más apalancamiento. El apalancamiento en este script lo determina las veces que está el volumen por encima de la línea de la SMA.
El apalancamiento máximo es de 8.
8. Bollinger Bands
Este indicador fue creado por John Bollinger y consiste en tres bandas que se dibujan superpuestas al gráfico de evolución del precio.
La banda central es una media móvil, normalmente se emplea una media móvil simple calculada con 20 períodos. ('BB LENGTH' Número de periodos de la media móvil)
La banda superior se calcula sumando al valor de la media móvil simple X veces la desviación típica de la media móvil. ('BB MULTIPLIER' Número de veces la desviación típica de la media móvil)
La banda inferior de calcula restando a la media móvil simple X veces la desviación típica de la media móvil.
la franja comprendida entre las bandas superior e inferior contiene, estadísticamente, casi un 90% de las posibles variaciones del precio, lo que significa que cualquier movimiento del precio fuera de las bandas tiene especial relevancia.
En términos prácticos, las bandas de Bollinger se comporta como si de una banda elástica se tratara de manera que, si el precio las toca, éste tiene mucha probabilidad de rebotar.
En ocasiones, después de rellenarse la orden de entrada, el precio se devuelve hacia el lado contrario. Si toca la banda de Bollinger se rellena otra orden en la misma dirección de la posición para mejorar el precio medio de entrada, (% MINIMUM BETTER PRICE': Precio mínimo para que se ejecute la re-entrada y que sea mejor que el precio de la posición anterior en un % dado) de esta manera damos una oportunidad al trade de que el Take Profit se ejecute antes. La desventaja es que se dobla el tamaño de la posición. 'ACTIVATE DIVIDE TP': Divide el tamaño del TP a la mitad. Más probabilidad de que se cierre el trade pero menos ganancias.
█ STOP LOSS y RISK MANAGEMENT.
Una buena gestión de las pérdidas o gestión del riesgo es lo que puede hacer que tu cuenta suba o se liquide en poco tiempo.
El % de riesgo es el porcentaje de nuestro capital que estamos dispuestos a perder por operación. Este se aconseja que debe estar comprendido entre un 1-5%.
% Risk = (% Stop Loss x % Equity per trade x Leverage) / 100
Primero se calcula la estrategia con Stop Loss, después se determina el riesgo por operación y a partir de ahí se calcula el monto por operación y no al revés.
En este script puedes usar un Stop Loss normal o uno según el ATR. También activar la opción de que salte antes si se alcanza el porcentaje de riesgo. '% RISK ALLOWED'
'STOP LOSS CONFIRMED': Solamente se activa el Stop Loss si el cierre de la barra anterior se encuentra en la condición de límite de pérdidas. Es útil para evitar que se dispare el SL cuando hacen un ‘pump’ para barrer Stops y luego se devuelve el precio a la normalidad.
█ BACKTEST
El objetivo del Backtest es evaluar la eficacia de nuestra estrategia. Un buen Backtest lo determinan algunos parámetros como son:
- RECOVERY FACTOR: Consiste en dividir el ‘beneficio neto’ entre el ‘drawdown’. Un excelente sistema de trading tiene un recovery factor de 10 o más; es decir, genera 10 veces más beneficio neto que drawdown.
- PROFIT FACTOR: El ‘Profit Factor’ es otra medida popular del rendimiento de un sistema. Es algo tan simple como dividir lo que ganan las operaciones con ganancias entre lo que pierden las operaciones con pérdidas. Si la estrategia es rentable entonces por definición el ‘Profit Factor’ va a ser mayor que 1. Las estrategias que no son rentables producen factores de beneficio menores que uno. Un buen sistema tiene un profit factor de 2 o más. Lo bueno del ‘Profit Factor’ es que nos dice lo que vamos a ganar por cada dolar que perdemos. Un profit factor de 2.5 nos dice que por cada dolar que perdamos operando vamos a ganar 2.5.
- SHARPE: (Retorno sistema – Retorno sin riesgo) / Desviación de los retornos.
Cuando las variaciones de ganancias y pérdidas son muy altas, la desviación es muy elevada y eso conlleva un ratio de ‘Sharpe’ muy pobre. Si las operaciones están muy cerca de la media (poca desviación) el resultado es un ratio de ‘Sharpe’ bastante elevado. Si una estrategia tiene un ratio de ‘Sharpe’ mayor que 1 es una buena estrategia. Si tiene un ratio de ‘Sharpe’ mayor que 2, es excelente. Si tiene un ratio de ‘Sharpe’ menor que 1 entonces no sabemos si es buena o mala, hay que mirar otros parámetros.
- MATHEMATICAL EXPECTATION:(% operaciones ganadoras X ganancia media) + (% operaciones perdedoras X pérdida media).
Para ganar dinero con un sistema de Trading, no es necesario ganar todas las operaciones, lo verdaderamente importante es el resultado final de la operativa. Un sistema de Trading tiene que tener esperanza matemática positiva como es el caso de este script.
El juego de la ruleta, por ejemplo, tiene esperanza matemática negativa para el jugador, puede tener rachas positivas de ganancias, pero a la larga, si se sigue jugando se acabará perdiendo, y esto los casinos lo saben muy bien.
PARAMETROS
'BACKTEST DAYS': Número de días atrás de datos históricos para el calculo del Backtest.
'ENTRY TYPE': Para % EQUITY si tienes 10000$ de capital y seleccionas 7.5% tu entrada sería de 750$ sin apalancamiento. Si seleccionas CONTRACTS para el par BTCUSDT sería la cantidad en Bitcoins y si seleccionas CASH sería la cantidad en dólares.
'QUANTITY (LEVERAGE 1X)': La cantidad para una entrada con apalancamiento X! según el apartado anterior.
'MAXIMUM LEVERAGE': Es el máximo multiplicador permitido de la cantidad introducida en el apartado anterior según la condición de volumen.
Los settings son para Bitcoin en Binance Futures (BTC:USDTPERP) en 30 minutos.
Para otro pares y otras temporalidades se tienen que ajustar las opciones de nuevo. Además para dentro de un mes, los ajustes serán otros distintos ya que el mercado y la tendencia es cambiante.
BEST Trade ManagerHello traders
The BEST Trade Manager got upgraded with many more features
I. 💎 SCRIPTS ACCESS 💎
1. Available only with one-time payment on my website.
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here: Daveatt
3. Many video tutorials explaining clearly how all our indicators work are available on your website > guides section.
4. You may also contact me directly for more information
II. 🔎 What is the BEST Trade Manager?🔎
2.1 Concept
The BEST Trade Manager is compatible with any indicator.
Once connected, it adds another layer of good stuff with real-time user custom defined stop loss (8 available options), take profits (4 possible options) + alerts compatible for trading automation.
2.2 How hard is it to update your indicator?
We'll send to our customers, a comprehensive and easy tutorial, to make any indicator compatible.
I guarantee you, it should take no more than 2 minutes per indicator. We made it easy, fun, and awesome. #bolder #statement
III. The amazing benefits of our Plug&Play system
I hope you're ready to be impressed. Because, what I'm about to introduce, is my best-seller feature - and available across many of my indicators.
The BEST Trade manager can be connected to any external indicator
Let's assume you want to connect your RSI divergence to your Trade Manager.
I mentioned an RSI divergence but you may connect any oscillator ( MACD, On balance volume, stochastic RSI, True Strenght index, and many more..) or non-oscillator (divergence, trendline break, higher highs/lower lows, candlesticks pattern, price action, harmonic patterns, ...) indicators.
THE SKY IS (or more likely your imagination) is the limit :)
We go in-depth on our website why the Plug&Play is an untapped opportunity for many traders out there - URL available on my profile status and signature
IV. 🧰 Features 🧰
Candles can be colored to highlight the trend direction better [/b[
4.1 Stop-Loss Management
For what's following, let's assume that 2 is the stop-loss value you inserted in the indicator, and the Algorithm Builder gives a BUY signal.
This is NOT a recommendation at all, only an example to explain how this feature works.
- %Trailing: The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit
- Pips Trailing: Same as above but using a distance in pips/USD value
- Percentage: The Stop-Loss stays static 2% away from the entry price. There is no trailing here
- TP Trailing
- Supertrend: embedded supertrend use as a trailing stop
- Fixed: Set the Stop-Loss at a fixed position (value should be in currency/units)
- ATR multiple: Set the Stop-loss at a multiple of ATR
- External connector: Let's say your indicator already contains embedded stop-loss levels, you can add them in the Trade Manager
4.2 Take Profits Management
You can manage up to 3 take profit levels defined as a percentage or price value or ATR multiple.
The expected input is in percentage value (for instance, setting the % target of TP1 to 2% will set the TP1 level 2% away from the entry price
4.3 Built-in Risk-to-Reward Panel with real-time analytics
The good stuff doesn't stop here.
You'll notice that this sometimes green (when in a LONG), sometimes red (when in a SHORT) panel at the right of your chart.
- Entry Price: the price when the Algorithm Builder will give a signal.
- The Trade PnL in percentage.
- Entry Stop Loss: Distance (in currency/units) between the selected stop-loss algorithm (percent, trailing, TP trailing, etc.) and the entry price.
- Entry TP1/TP2/TP3: Distance (in currency/units) between the entry price and the first take profit
- Risk/Reward TP1/TP2/TP3: Using the Stop-loss distance at entry, and Take Profit 1/2/3 at the entry to compute the risk-to-reward ratio.
- Max drawdown and Max opportunity (value and percentage): respectively the maximum loss and maximum win per trade
For more details, please check the guides section of my website. Links are in my signature and profile status.
V. 🔔 Alerts 🔔
We enabled the alerts on the:
1. Stop-Loss hit
2. Take Profit 1/2/3 hit
3. custom hard exits based on either MACD/RSI divergence/MM cross
5.2. 🤖 Compatible with trading bots? 🤖
Should be compatible with all third-parties out there capturing alerts and forwarding them to the brokers.
We enabled TradingConnector alert templates so far and we'll add the ProfitView ones shortly
If you have any doubts or questions, please hit me up directly or ask in the comments section of this script.
Kind regards,
Dave
Algorithm Builder - INDICESHello traders
I. 💎 SCRIPTS ACCESS AND TRIALS 💎
1. For the trial request access, they have to be done through my website .
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here : Daveatt
Due to the new scripts publishing house rules, I won't mention the URL here directly. As I value my partnership with TradingView very much, I prefer showing you the way for finding them :)
3. Many video tutorials explaining clearly how all our indicators work are available on your website > guides section.
4. You may also contact me directly for more information
II. 🔎 Algorithm Builder INDEX 🔎
2.1 INDEX trading
Let's start with a quick definition.
Index Trading is a type of trading of a group of stocks that make up the index. An Index is a measurement of the value of a section of the stock market. It is computed from the prices of selected stocks. It may also be referred to as a group of stock market publicly-listed uppermost businesses within a region. There are numerous Stock Market Indices within the world such as Dow Jones/SPX500 (USA), DAX (Germany), S&P/ASX 200 (Australia), FTSE100 (London), CAC 40 (France), AEX index (Amsterdam), IBEX 35 and more.
2.2 🔗 Which brokers are compatible? 🔗
⚠️⚠️Please note we mostly tested those signals with FXCM broker.
You may use a different broker but you have to make sure your broker has a similar price quote with at most 2/3 pips difference with FXCM.
We chose a broker where the spreads are among the lowest across the board.
Disclaimer : we're not affiliated in any way with them.
2.3 Concept
This indicator is born because we identified 2 types of traders :
1) Those who want to play with the indicators and discover a sound system by themselves.
That's why we made the Algorithm Builders (Singles/Multiples) + Backtest suites
2) Those who want to be guided way more and get signals that actually are very coherent AND without too much configuration on their end.
We're very aware that this point is a big claim and to prove how confident we are with our Algorithm Builder (INDEX), we're sharing on TradingView the signals given by the tool at the end of each day.
Our new PREMIUM customers automatically get a 3 weeks trial to try out all of our indicators and see themselves how they perform.
We could show you all the track records/backtests in the world (which could easily be faked with very optimistic setups or photoshop) - instead, we'd like YOU to try our products yourselves during your Trial - as this would be the best proof you could ever get that our indicators could help your trading.
III. 🔅 The INDEX Framework 🔅
ALL signals are displayed because they have to be taken (unless invalidated or risk too big) because we cannot know before what signal will lead to big profits versus get invalidated.
Those signals were made such as :
- in case of a risk of losing capital, we would lose a small amount thanks to the invalidations/hard exits.
- give only signals where the Risk-to-reward is decent enough and the risk is not disproportioned compared to the potential reward.
- NOT a guarantee at all but we made those signals such as they'll reward the traders with about 30/50 pips gains per trade.
Assuming the Algo INDEX gives 5 trades a day and you applied it on 3 indexes and 1 trade per index is a loss (= likely invalidated with a small loss - a Stop Loss could always happen but we designed it to prevent those from happening), then we're not aware of any other trading method/system beating that on index trading. Period.
And we're actively monitoring what the competition is doing on a daily basis always to stay ahead.
I'll explain below which market condition is riskier and how to act (which is better than usually reacting in trading or in life in general).
IV. 📜 The 10 Commandments 📜
1️⃣ You shall read our guide on our website and look at the video tutorial .
URL available on this script signature (you'll have to scroll down a bit and going past the long description) and in my profile status.
I give way more details there and won't give too much info here because it will make this script description way too long.
2️⃣ You shall follow the method religiously and trade like a “MACHINE” .
All graphical elements displayed on the chart by our indicator is useful (= to be used) and has been thought of, tested and traded with for years.
We know that adopting someone else's method is a huge leap of faith but it's required sometimes to ask our clients to trust us.
3️⃣ You must always consider the supports and resistances.
We know it could be surprising to see so many S/R displayed by the indicator but you'll have to trust us on the following claim: They're all important and must be considered before entering a trade or not
4️⃣ You must Not change the recommended chart timeframe.
Even if the chart timeframe is 1 minute, the sub-indicators used are very smoothed and based on indicators in 15/30/1h timeframes.
Entering in a 1 min chart allows to enter sooner and this combined with multi timeframes indicators allows to enter when a trend is confirmed.
5️⃣ You Must NOT trade anything else than indexes with this indicator.
As said before, we're working really hard on releasing a similar assisted trading framework for cryptocurrencies and other asset classes (FOREX, COMMODITIES, ...) and we aim to release the Algo Builder CRYPTO before the end of this year.
We started with the ALGO INDEX because it's our specialty, there is a ton of liquidity in that market and a lot of traders asked for it - we would say almost as close as the number of traders asking us for an ALGO CRYPTO framework.
6️⃣ You shall know the Leading Trend displayed on your chart
- Signal in the same direction of the leading trend: i.e. green signal on a green chart background and red signal on a red chart background.
- Signal given regardless of the leading trend direction.
In other words, green/red signal may be displayed on either background color (green/red)
In that scenario, we recommend waiting for a pullback near the EMA(20) and set your SL to breakeven quickly.
⚠️ To be clear; ALL signals should be taken but those against the trend could require a pullback as explained above.
7️⃣ You shall know your trading profile
Trend confirmation when entering against the leading trend: You'll also notice that the leading trend is real and strong.
Let's assume a trader enters in a LONG position/RED background and then the chart background turns GREEN at some point later on.
You'll often see that this "event" will confirm even more the trend direction and that's when the trend could very likely accelerate.
8️⃣ You will embrace the Hard Exits philosophy.
The framework won't work as well as expected without them.
It's even the most important "commandment" and it requires to be rigorous and throw away to the bin whatever we might think and feel.
Not exiting a signal when invalidated because you feel differently will not work.
9️⃣ You must know the Risk and Money Management basis.
Each market is unique and cannot possibly be traded the same way.
We're happy to provide a few guidelines for the INDEX market just below.
- Know your macro events with the daily economic calendar.
- Stay consistent with your position sizing
- Stay consistent with your trade management
🔟 You Shall Test and Make your Own Conclusions.
You have a FREE TRIAL period to test because we know that many traders aren't full-time traders and have a family/job/life outside trading.
So take your time to visually backtest the signals, trade with small positions, follow our rules and learn from your own experience.
While we keep saying "do this, do that", we're not dogmatic at all and we welcome any feedback you might have that could benefit the community and we'll likely integrate it if we see a good value in your idea.
You can submit an idea/feedback/comment by contacting me directly.
V. 🧰 Features 🧰
5.1 Supports and Resistances
The indicator displays the main algorithmic supports and resistances according to our trading method for INDEX.
5.2 Choose your favorite risk management algorithm
1/ Pre-defined and recommended mode for this INDEX framework - Algo S/R method using:
- the nearest algorithmic resistances for the take profit levels.
2/ Define your own Stop-loss and Take-profits level in real-time
Stop-Loss Management
For what's following, let's assume that 2 is the stop-loss value you inserted in the indicator, and the Algorithm Builder gives a BUY signal.
This is NOT a recommendation at all, only an example to explain how this feature works.
- %Trailing: The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit
- Percentage: The Stop-Loss stays static 2% away from the entry price. There is no trailing here
- TP Trailing: This is a very awesome feature. The stop-loss is set 2% away when the trades start.
When the TP1 is hit, the stop-loss will be moved to the Entry price (also called breakeven).
When the TP2 is hit, the SL is moved to the previous TP1 position
- Fixed: Set the Stop-Loss at a fixed position (value should be in currency/units)
Take Profits Management
You can manage up to 2 take profit levels defined as a percentage or price value.
The expected input is in percentage value (for instance, setting the % target of TP1 to 2% will set the TP1 level 2% away from the entry price
5.3 Built-in Trade Manager
This is very likely the most loved utility script that we shared on TradingView.
It's included in your Algorithm Builder - Single Trend+, and will certainly help you immensely to analyze your charts and your trades.
We made sure that all the graphical elements on the chart will be updated in real-time whenever our user change anything on the indicator configuration.
You'll also be able to change the Trade Manager labels positions as you wish :)
5.4 Built-in Risk-to-Reward Panel
The good stuff doesn't stop here.
You'll notice that this sometimes green (when in a LONG), sometimes red (when in a SHORT) panel at the right of your chart.
It displays for the selected trading algorithmic (see 2.3.2 above), a ton of useful real-time analytics.
- Entry Price: the price when the Algorithm Builder will give a signal.
- The Trade PnL in percentage.
- Entry Stop Loss: Distance (in currency/units) between the selected stop-loss algorithm (percent, trailing, TP trailing, etc.) and the entry price.
- Entry TP1: Distance (in currency/units) between the entry price and the first take profit
- Entry TP2: Distance (in currency/units) between the entry price and the second take profit
- Risk/Reward TP1: Using the Stop-loss distance at entry, and Take Profit 1 at entry to compute the risk-to-reward ratio.
- Risk/Reward TP2: Using the Stop-loss distance at entry, and Take Profit 2 at entry to compute the risk-to-reward ratio.
For more details, please check the guides section of my website. Links are in my signature and profile status.
5.5 Built-in PnL real-time calculations
YES!!!! you read it correctly
The panel displays the risk-to-reward ratios but also the PnL (Profit and Loss in percentage value) of the current and last trade
VI. 🔔 Alerts 🔔
We enabled the alerts on the:
1. Main BUY/SELL entries
3. Exit Signals such as stop-loss, take-profit, hard-exits
VII. 🧬 Compatible with trading bots?🧬
I'm very aware of all existing solutions out there allowing us to capture the TradingView alerts (Instabot, ProfitView, ...) and forwarding them to the brokers to automatize your trading.
You'll find a more detailed answer on our website.
Trade Manager/Pnl and Risk-Reward Panel (Plug&Play)Hello traders
The Trade Manager Standalone is finally back and with many more built-in features.
I. 💎 SCRIPTS ACCESS AND TRIALS 💎
1. No TRIAL is available for that script. Available only with one-time payment on my website .
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here : Daveatt
Due to the new scripts publishing house rules, I won't mention the URL here directly. As I value my partnership with TradingView very much, I prefer showing you the way for finding them :)
3. Many video tutorials explaining clearly how all our indicators work are available on your website > guides section.
4. You may also contact me directly for more information
II. 🔎 What is a Trade Manager?🔎
2.1 Concept
Standalone Trade Manager compatible with any indicator.
Once connected, whenever you'll update your Algorithm Builders or your indicator, the Trade Manager Stop-loss, take-profit levels, and analytics get updated automatically. #bold #statement #but #actually #true
2.2 How hard is it to update your indicator?
We'll send to our customers, a comprehensive and easy tutorial, to make any indicator compatible.
I guarantee you, it should take no more than 2 minutes per indicator. We made it easy, fun, and awesome. #bolder #statement
III. The amazing benefits of our🔌&🕹️ (Plug&Play) system
Hope you're ready to be impressed. Because, what I'm about to introduce, is my best-seller feature - and available across many of my indicators.
In TradingView, there is a feature called "Indicator on Indicator" meaning you can use an external indicator as a data source for another indicator.
I'm using that feature to connect any external indicator to our Trade Manager (Plug & Play) - hence the plug and play name. Please don't make it a plug and pray :) it's supposed to help you out, not to stress you even more
Let's assume you want to connect your RSI divergence to your Trade Manager.
I mentioned an RSI divergence but you may connect any oscillator (MACD, On balance volume, stochastic RSI, True Strenght index, and many more..) or non-oscillator (divergence, trendline break, higher highs/lower lows, candlesticks pattern, price action, harmonic patterns, ...) indicators.
THE SKY IS (or more likely your imagination) is the limit :)
Fear no more. The Plug&Play technology allows you to connect it and use it the backtest calculations.
This is not magic ✨, neither is sorcery, but certainly is way beyond the most awesome thing I've ever developed on TradingView (even across all brokers I know). #bold #statement #level #9000
TradingView is the best trading platform by far and I'm very grateful to offer my indicators on their website.
To connect your external indicator to ours, we're using a native TradingView feature, which is not available for all users.
It depends on your TradingView subscription plan ( More info here )
If you intend to use our Algorithm Plug&Play indicator, and/or our Backtest Plug&Play suites, then you must upgrade your TradingView account to enjoy those features.
We value our relationship with our customers seriously, and that's why we're warning you that a compatible TradingView account type is required - at least PRO+ or PREMIUM to add more than 1 Plug&Play indicator per account.
We go in-depth on our website why the Plug&Play is an untapped opportunity for many traders out there - URL available on my profile status and signature
IV. 🧰 Features 🧰
4.1 Stop-Loss Management
For what's following, let's assume that 2 is the stop-loss value you inserted in the indicator, and the Algorithm Builder gives a BUY signal.
This is NOT a recommendation at all, only an example to explain how this feature works.
- %Trailing: The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit
- Percentage: The Stop-Loss stays static 2% away from the entry price. There is no trailing here
- TP Trailing: This is a very awesome feature. The stop-loss is set 2% away when the trades start.
When the TP1 is hit, the stop-loss will be moved to the Entry price (also called breakeven).
When the TP2 is hit, the SL is moved to the previous TP1 position
- Fixed: Set the Stop-Loss at a fixed position (value should be in currency/units)
4.2 Take Profits Management
You can manage up to 2 take profit levels defined as a percentage or price value.
The expected input is in percentage value (for instance, setting the % target of TP1 to 2% will set the TP1 level 2% away from the entry price
4.3 Built-in Trade Manager
This is very likely the most loved utility script that we shared on TradingView.
It's included in your Algorithm Builder - Single Trend+, and will certainly help you immensely to analyze your charts and your trades.
We made sure that all the graphical elements on the chart will be updated in real-time whenever our user change anything on the indicator configuration.
You'll also be able to change the Trade Manager labels positions as you wish :)
4.4 Built-in Risk-to-Reward Panel
The good stuff doesn't stop here.
You'll notice that this sometimes green (when in a LONG), sometimes red (when in a SHORT) panel at the right of your chart.
It displays for the selected trading algorithmic (see 2.3.2 above), a ton of useful real-time analytics.
- Entry Price: the price when the Algorithm Builder will give a signal.
- The Trade PnL in percentage.
- Entry Stop Loss: Distance (in currency/units) between the selected stop-loss algorithm (percent, trailing, TP trailing, etc.) and the entry price.
- Entry TP1: Distance (in currency/units) between the entry price and the first take profit
- Entry TP2: Distance (in currency/units) between the entry price and the second take profit
- Risk/Reward TP1: Using the Stop-loss distance at entry, and Take Profit 1 at entry to compute the risk-to-reward ratio.
- Risk/Reward TP2: Using the Stop-loss distance at entry, and Take Profit 2 at entry to compute the risk-to-reward ratio.
For more details, please check the guides section of my website. Links are in my signature and profile status.
4.5 Built-in PnL real-time calculations
YES!!!! you read it correctly
The panel displays the risk-to-reward ratios but also the PnL (Profit and Loss in percentage value) of the current and last trade
V. 🔔 Alerts 🔔
We enabled the alerts on the:
1. Stop-Loss
2. Take Profit 1
3. Take Profit 2
VI. 🤖 Compatible with trading bots? 🤖
I'm very aware of all existing solutions out there allowing us to capture the TradingView alerts (Instabot, ProfitView, ...) and forwarding them to the brokers to automatize your trading.
You'll find a more detailed answer on our website.
If you have any doubt or question, please hit me up directly or ask in the comments section of this script.
I'll never claim I have the best trading methodology or the best indicators.
You only will judge and I'll appreciate all the questions and feedback you're sending my way.
They help me a ton to develop indicators based on all the requests I received.
Kind regards,
Dave
Assisted framework with the Algorithm Builder - INDEXHello traders
I. 💎 SCRIPTS ACCESS AND TRIALS 💎
1. For the trial request access, they have to be done through my website .
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here : Daveatt
Due to the new scripts publishing house rules, I won't mention the URL here directly. As I value my partnership with TradingView very much, I prefer showing you the way for finding them :)
3. Many video tutorials explaining clearly how all our indicators work are available on your website > guides section.
4. You may also contact me directly for more information
II. 🔎 Algorithm Builder INDEX 🔎
2.1 INDEX trading
Let's start with a quick definition.
Index Trading is a type of trading of a group of stocks that make up the index. An Index is a measurement of the value of a section of the stock market. It is computed from the prices of selected stocks. It may also be referred to as a group of stock market publicly-listed uppermost businesses within a region. There are numerous Stock Market Indices within the world such as Dow Jones/SPX500 (USA), DAX (Germany), S&P/ASX 200 (Australia), FTSE100 (London), CAC 40 (France), AEX index (Amsterdam), IBEX 35 and more.
2.2 🔗 Which brokers are compatible? 🔗
⚠️⚠️Please note we mostly tested those signals with FXCM broker.
You may use a different broker but you have to make sure your broker has a similar price quote with at most 2/3 pips difference with FXCM.
We chose a broker where the spreads are among the lowest across the board.
Disclaimer : we're not affiliated in any way with them.
2.3 Concept
This indicator is born because we identified 2 types of traders :
1) Those who want to play with the indicators and discover a sound system by themselves.
That's why we made the Algorithm Builders (Singles/Multiples) + Backtest suites
2) Those who want to be guided way more and get signals that actually are very coherent AND without too much configuration on their end.
We're very aware that this point is a big claim and to prove how confident we are with our Algorithm Builder (INDEX), we're sharing on TradingView the signals given by the tool at the end of each day.
Our new PREMIUM customers automatically get a 3 weeks trial to try out all of our indicators and see themselves how they perform.
We could show you all the track records/backtests in the world (which could easily be faked with very optimistic setups or photoshop) - instead, we'd like YOU to try our products yourselves during your Trial - as this would be the best proof you could ever get that our indicators could help your trading.
III. 🔅 The INDEX Framework 🔅
ALL signals are displayed because they have to be taken (unless invalidated or risk too big) because we cannot know before what signal will lead to big profits versus get invalidated.
Those signals were made such as :
- in case of a risk of losing capital, we would lose a small amount thanks to the invalidations/hard exits.
- give only signals where the Risk-to-reward is decent enough and the risk is not disproportioned compared to the potential reward.
- NOT a guarantee at all but we made those signals such as they'll reward the traders with about 30/50 pips gains per trade.
Assuming the Algo INDEX gives 5 trades a day and you applied it on 3 indexes and 1 trade per index is a loss (= likely invalidated with a small loss - a Stop Loss could always happen but we designed it to prevent those from happening), then we're not aware of any other trading method/system beating that on index trading. Period.
And we're actively monitoring what the competition is doing on a daily basis always to stay ahead.
I'll explain below which market condition is riskier and how to act (which is better than usually reacting in trading or in life in general).
IV. 📜 The 10 Commandments 📜
1️⃣ You shall read our guide on our website and look at the video tutorial .
URL available on this script signature (you'll have to scroll down a bit and going past the long description) and in my profile status.
I give way more details there and won't give too much info here because it will make this script description way too long.
2️⃣ You shall follow the method religiously and trade like a “MACHINE” .
All graphical elements displayed on the chart by our indicator is useful (= to be used) and has been thought of, tested and traded with for years.
We know that adopting someone else's method is a huge leap of faith but it's required sometimes to ask our clients to trust us.
3️⃣ You must always consider the supports and resistances.
We know it could be surprising to see so many S/R displayed by the indicator but you'll have to trust us on the following claim: They're all important and must be considered before entering a trade or not
4️⃣ You must Not change the recommended chart timeframe.
Even if the chart timeframe is 1 minute, the sub-indicators used are very smoothed and based on indicators in 15/30/1h timeframes.
Entering in a 1 min chart allows to enter sooner and this combined with multi timeframes indicators allows to enter when a trend is confirmed.
5️⃣ You Must NOT trade anything else than indexes with this indicator.
As said before, we're working really hard on releasing a similar assisted trading framework for cryptocurrencies and other asset classes (FOREX, COMMODITIES, ...) and we aim to release the Algo Builder CRYPTO before the end of this year.
We started with the ALGO INDEX because it's our specialty, there is a ton of liquidity in that market and a lot of traders asked for it - we would say almost as close as the number of traders asking us for an ALGO CRYPTO framework.
6️⃣ You shall know the Leading Trend displayed on your chart
- Signal in the same direction of the leading trend: i.e. green signal on a green chart background and red signal on a red chart background.
- Signal given regardless of the leading trend direction.
In other words, green/red signal may be displayed on either background color (green/red)
In that scenario, we recommend waiting for a pullback near the EMA(20) and set your SL to breakeven quickly.
⚠️ To be clear; ALL signals should be taken but those against the trend could require a pullback as explained above.
7️⃣ You shall know your trading profile
Trend confirmation when entering against the leading trend: You'll also notice that the leading trend is real and strong.
Let's assume a trader enters in a LONG position/RED background and then the chart background turns GREEN at some point later on.
You'll often see that this "event" will confirm even more the trend direction and that's when the trend could very likely accelerate.
8️⃣ You will embrace the Hard Exits philosophy.
The framework won't work as well as expected without them.
It's even the most important "commandment" and it requires to be rigorous and throw away to the bin whatever we might think and feel.
Not exiting a signal when invalidated because you feel differently will not work.
9️⃣ You must know the Risk and Money Management basis.
Each market is unique and cannot possibly be traded the same way.
We're happy to provide a few guidelines for the INDEX market just below.
- Know your macro events with the daily economic calendar.
- Stay consistent with your position sizing
- Stay consistent with your trade management
🔟 You Shall Test and Make your Own Conclusions.
You have a FREE TRIAL period to test because we know that many traders aren't full-time traders and have a family/job/life outside trading.
So take your time to visually backtest the signals, trade with small positions, follow our rules and learn from your own experience.
While we keep saying "do this, do that", we're not dogmatic at all and we welcome any feedback you might have that could benefit the community and we'll likely integrate it if we see a good value in your idea.
You can submit an idea/feedback/comment by contacting me directly.
V. 🧰 Features 🧰
5.1 Supports and Resistances
The indicator displays the main algorithmic supports and resistances according to our trading method for INDEX.
5.2 Choose your favorite risk management algorithm
1/ Pre-defined and recommended mode for this INDEX framework - Algo S/R method using:
- the nearest algorithmic resistances for the take profit levels.
2/ Define your own Stop-loss and Take-profits level in real-time
Stop-Loss Management
For what's following, let's assume that 2 is the stop-loss value you inserted in the indicator, and the Algorithm Builder gives a BUY signal.
This is NOT a recommendation at all, only an example to explain how this feature works.
- %Trailing: The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit
- Percentage: The Stop-Loss stays static 2% away from the entry price. There is no trailing here
- TP Trailing: This is a very awesome feature. The stop-loss is set 2% away when the trades start.
When the TP1 is hit, the stop-loss will be moved to the Entry price (also called breakeven).
When the TP2 is hit, the SL is moved to the previous TP1 position
- Fixed: Set the Stop-Loss at a fixed position (value should be in currency/units)
Take Profits Management
You can manage up to 2 take profit levels defined as a percentage or price value.
The expected input is in percentage value (for instance, setting the % target of TP1 to 2% will set the TP1 level 2% away from the entry price
5.3 Built-in Trade Manager
This is very likely the most loved utility script that we shared on TradingView.
It's included in your Algorithm Builder - Single Trend+, and will certainly help you immensely to analyze your charts and your trades.
We made sure that all the graphical elements on the chart will be updated in real-time whenever our user change anything on the indicator configuration.
You'll also be able to change the Trade Manager labels positions as you wish :)
5.4 Built-in Risk-to-Reward Panel
The good stuff doesn't stop here.
You'll notice that this sometimes green (when in a LONG), sometimes red (when in a SHORT) panel at the right of your chart.
It displays for the selected trading algorithmic (see 2.3.2 above), a ton of useful real-time analytics.
- Entry Price: the price when the Algorithm Builder will give a signal.
- The Trade PnL in percentage.
- Entry Stop Loss: Distance (in currency/units) between the selected stop-loss algorithm (percent, trailing, TP trailing, etc.) and the entry price.
- Entry TP1: Distance (in currency/units) between the entry price and the first take profit
- Entry TP2: Distance (in currency/units) between the entry price and the second take profit
- Risk/Reward TP1: Using the Stop-loss distance at entry, and Take Profit 1 at entry to compute the risk-to-reward ratio.
- Risk/Reward TP2: Using the Stop-loss distance at entry, and Take Profit 2 at entry to compute the risk-to-reward ratio.
For more details, please check the guides section of my website. Links are in my signature and profile status.
5.5 Built-in PnL real-time calculations
YES!!!! you read it correctly
The panel displays the risk-to-reward ratios but also the PnL (Profit and Loss in percentage value) of the current and last trade
VI. 🔔 Alerts 🔔
We enabled the alerts on the:
1. Main BUY/SELL entries
3. Exit Signals such as stop-loss, take-profit, hard-exits
VII. 🤖 Compatible with trading bots? 🤖
I'm very aware of all existing solutions out there allowing us to capture the TradingView alerts (Instabot, ProfitView, ...) and forwarding them to the brokers to automatize your trading.
You'll find a more detailed answer on our website.
If you have any doubt or question, please hit me up directly or ask in the comments section of this script.
I'll never claim I have the best trading methodology or the best indicators.
You only will judge and I'll appreciate all the questions and feedback you're sending my way.
They help me a ton to develop indicators based on all the requests I received.
Kind regards,
Dave
Crypto FOMO Strategy (monthly-access)PLEASE READ THE ENTIRE POST BEFORE PURCHASING & USING THE FOMO INDICATOR. Saves you and me some time in emails and messages. :)
This is the NEW MONTHLY ACCESS Version of the Crypto FOMO Strategy
Please check the links at the bottom of this post, so you find the way to our shop.
1 Month access is set at $25
10% Disount --> "FOMO25"
Any question, DM me here or on Twitter , check for link on the bottom.
The FOMO Buy Sell Indicator is a very specific strategy, cut down to its roots and made perfect for the volatile crypto market.
Many indicators focus only on one aspect, one side, one specific rule. As you know, this is not how life, the market or anything else works.
FOMO combines many different aspects at the same time, scans multiple other indicators and comes to a conclusion based on over 950 lines of code.
It is based on Divergences, Elliott Waves , Ichimoku , MACD , MACD Histogram, RSI , Stoch , CCI , Momentum, OBV, DIOSC, VWMACD, CMF and multiple EMAs.
Every single aspect is weighted into the decision before giving out an indication.
Most buy/sell indicators FAIL because they try to apply the same strategy to every single chart, which
are as individual as humans.
To conquer this problem, FOMO has a wide range of settings and variables which can be easily
modified.
To make it a true strategy, FOMO has as well settings for Take Profit Points, Multiple Entries and Stop Losses. Everything with an Alert Feature of course.
I know from experience that many people take one indicator and are simply too LAZY to add multiple indicators to make a rational choice.
The result of that is that they lose money, by following blatantly only one indicator.
FOMO has additional 7 indicators, perfect for the crypto market, which can be turned on and off.
FOMO Signals Settings
“Show Signals?” - On/Off to show the Buy/Sell Signals. “Aggressiveness” - Increase to make the signals less aggressive
and decrease to make them more aggressive.
“Show Custom FOMO Timeframe?” - On/Off to show FOMO Signals of a different timeframe in addition to the normal ones.
“Custom FOMO Timeframe?” - Choose the timeframe for the custom FOMO signals.
“Use Safe FOMO?” - On/Off to show only “safe” (less but more exact) FOMO signals.
“Safe FOMO Sells” - Settings for the “safe” FOMO Sell Signals. Decrease number for “less safe” Signals.
Increase number for “more safe” Signals.
“Safe FOMO Buys” - Settings for the “safe” FOMO Buy Signals. Decrease number for “more safe” Signals.
Increase number for “less safe” Signals.
FOMO Strategy Settings
“Take Profit 1 ” - On/Off to show TP1 points.
“Take Profit After %” - Set the percentage after which TP1 is
active.
“Take Profit 2 ” - On/Off to show TP2 points.
“Take Profit 2 After %” - Set the percentage after which TP2 is active.
“Take Profit 3 ” - On/Off to show TP3 points.
“Take Profit 3 After %” - Set the percentage after which TP3 is
active.
“Second Entry” - On/Off to show Second Entry points.
“Second Entry After %” - Set the percentage after which Second Entry is active.
“Third Entry ” - On/Off to Third Entry points.
“Third Entry After %” - Set the percentage after which Third
Entry is active.
“Stop Loss ” - On/Off to show Stop Loss points.
“Take Profit After %” - Set the percentage after which Stop Loss is active.
The FOMO Lifeguard is a special feature made to cancel out the “noice” of the signals and show only signals with a great technical significance.
For this FOMO uses the default settings of +7 and - 7. This references to an index value of multiple settings of almost all indicators used in this script.
+7 cuts out all sell signals below the index value of 7.
- 7 cuts out all buy signals above the index value of - 7.
Using the FOMO Lifeguard is a key element for a sustainable and profitable strategy.
As the normal FOMO Signals, the Lifeguard Signals are also bound to the “Aggressiveness”. Should the cut out of signals with the Lifeguard on be too big, try adjusting the “Aggressiveness”.
With this, once can choose and make this indicator PERFECT for his own strategy and trading style. Day Traders would use no “Lifeguard” and aggressive signals.
Swing Traders would use “Lifeguard” and aggressive signals.
To make the life of the FOMO user even easier, I have added all adjustable Take Profit Points, Multiple entry points and Stop Loss points.
Simply choose how many Take Profit points you would like to have and choose the percentage after which you would like to see the Take Profit point appear on the chart and notify you to take profits.
Are you a Trader who likes multiple entries? Also no problem with FOMO. Select how many additional entries you would like to have and after how many percent you would like them to appear on the chart and remind you of adding to the position.
What would a Strategy be without a Stop Loss? Same settings apply here as on the TPs and MEs .
Crypto Modified Indicators
“Show Divergences?” - On/Off to show Divergences on the Chart based on the data of 10 different indicators.
“Show Custom Divergences?” - On/Off to show Divergences on the chart of a custom timeframe.
“Custom Divergence Timeframe?” - Choose the Timeframe for which the Custom Divergences should appear on the chart.
“Show Oversold/bought?” - On/Off to change the colour of the chart in Oversold/bought conditions.
“Oversold/bought value?” - Choose a value for which the chart is Oversold/bought.
“Show Fibonacci Levels?” - On/Off to show automatic Fibonacci Levels.
“Fibonacci Lookback Lenght” - This value states how many candles from right now are taken into account to paint the Fibonacci Levels.
“Fibonacci Lookback Lenght” - Choose a custom Timeframe that should be used to paint the Fibonacci Levels.
Crypto Modified Indicators 2
“Show EMAs?” - On/Off to show three EMAs on the chart, after the example of @Teddycleps
“EMA Lenght 1” - Choose a value for the first EMA Lenght
“EMA Lenght 2 ” - Choose a value for the second EMA Lenght.
“EMA Lenght 3” - Choose a value for the third EMA Lenght.
The area between the first and third EMA is filled. Is EMA1 above 21, it’s filled green. Is it below, it’s filled red.
“Show Ichimoku? ” - On/Off to show Ichimoku on the chart.
“Show Tenkin?” - On/Off to show Tenkin on the chart.
“Tenkin” - Set the lenght of the Tenkin.
“Show Kijun?” - On/Off to show Kijun on the chart.
“Kijun” - Set the lenght of the Kijun.
“Show Senkou?” - On/Off to show the Senkou on the chart. “Senkou” - Set the lenght of the Senkou.
“Displacement” - Set the value of the Displacement.
“Show ZIG ZAG Lines?” - On/Off to show ZigZag Lines on the chart, used to identify short-term trends and EW counts.
“ZZ Lenght 1” - Set the first lenght of the ZigZag Lines.
“ZZ Lenght 2” - Set the second lenght of the ZigZag Lines.
FOMO without any doubt has Custom Alerts for all Signals that it is painting on the chart. This goes for the “Normal Signals” as well as for the “Lifeguard Signals”.
One can even choose to receive custom notifications for Take Profit points, Multiple Entry points and the Stop Loss points.
The signals appear on the chart DURING the candle, not at the end of the candle. Therefore, the alerts do this as well. These appear during the candle.
Here we can see all of the possible Alerts that can be chosen to be displayed. In total it is 30 different custom alerts, based on what the trader is looking for and how he is trading.
Personally, I have 10-15 coins that I trade the most and for these I have custom notifications, mostly though only the SAFE FOMO Buy and Sell Signals.
To activate Alerts for FOMO
1) Go to the “ALERT” icon on the top tool bar of your Tradingview.
2) Select “CONDITION” as “—Crypto FOMO Strategy—“
3) Then choose ONE condition from the list of conditions.
4) On “OPTIONS” you can set how many times it appears, I have “Once per Bar”.
4.1) If you want to make sure that the signal is truly there and not just a condition for a second during the candle, choose “ONCE PER BAR CLOSE”.
5) “Expiration Time” sets the time until the alert expires. PRO users have no expiration for alerts.
6) “Alert Actions” give you a row of choices what happens and how you want to be notified.
7) “Message” is the message that you receive inside the notification.
AFTERWORD/DISCLAIMER
FOMO has been created after my goal to #MakeCryptoProfessionalAgain. Every aspect of it has its own and very specific use, which traders have shown to find useful in their trading.
This Indicator is meant to help new and experienced traders to understand the various aspects of this market and access all of the most important and most commonly used tools, with JUST ONE CLICK.
FOMO should be used responsibly and treated as an indicator. Signals, scripts, algorithms can NEVER be 100% exact. It is up to the trader to make a well thought and educated decision, wether to follow a signal or not. Our brains are way more advanced than any indicator and algorithm.
I advise especially for this reason to have not just the signals turned on. Please do not use the SAME settings for each chart. Look which Aggressiveness and Lifeguard Settings fit your chart the most, you will be amazed how well some charts work with FOMO.
FOMO should NOT make you FOMO into a trade anymore. It should teach you to make more educated decisions and especially for margin trading reduce the risk of liquidation.
Should you have problems with being liquidated multiple times, I advise to use the “STOP LOSS” function.
Most importantly, enjoy the indicator and trading in general.
Universal Technical Analysis StrategyUniversal Technical Analysis Strategy: Overview and User Guide
Strategy Overview
The Universal Technical Analysis Strategy is a robust trading system designed for Gold (XAUUSD), Nasdaq (NAS100), US30 (DJI), S&P 500 (SPX500), and Forex pairs (e.g., EURUSD, GBPUSD). Built for TradingView using Pine Script version 6, this strategy combines multiple technical indicators to identify high-probability entry and exit points, with dynamic stop-loss and take-profit levels to manage risk. It is highly customizable, allowing traders to adjust settings for different assets, and includes a table displaying recommended settings for each asset class.
The strategy aims to maximize win probability by confirming signals with multiple indicators and incorporating volatility-based risk management. It is suitable for various timeframes, with 1-hour (1H) or 4-hour (4H) charts recommended for optimal performance.
Key Components
The strategy uses the following indicators to generate trading signals:
• Exponential Moving Averages (EMA):
• Fast and Slow EMAs identify trend direction. A crossover (Fast EMA above Slow EMA) signals a potential long entry, while a crossunder signals a short entry.
• Relative Strength Index (RSI):
• Filters out trades in overbought (e.g., RSI > 70) or oversold (e.g., RSI < 30) conditions to avoid reversals.
• Moving Average Convergence Divergence (MACD):
• Confirms momentum with bullish (MACD line > signal line) or bearish (MACD line < signal line) crossovers.
• Bollinger Bands:
• Ensures entries occur in favorable volatility conditions, typically near the lower band for longs or upper band for shorts.
• Volume:
• Confirms signal strength by requiring volume to exceed its moving average, ensuring market participation.
Trading Logic
• Long Entry:
• Fast EMA crosses above Slow EMA.
• RSI is above the oversold threshold (e.g., 30).
• MACD shows a bullish crossover.
• Price is near or above the lower Bollinger Band.
• Volume exceeds its moving average (if enabled).
• Short Entry:
• Fast EMA crosses below Slow EMA.
• RSI is below the overbought threshold (e.g., 70).
• MACD shows a bearish crossover.
• Price is near or below the upper Bollinger Band.
• Volume exceeds its moving average (if enabled).
• Exit Conditions:
• Trades exit when the take-profit (TP) or stop-loss (SL) is hit.
• TP and SL are calculated using the Average True Range (ATR), multiplied by user-defined factors (e.g., SL = 1.5x ATR, TP = 2x ATR).
• Risk Management:
• Stop-loss protects against adverse moves, dynamically adjusted based on ATR.
• Take-profit ensures a favorable risk-reward ratio, typically 1:1.33 or higher.
Recommended Settings
The strategy includes an on-screen table displaying optimized settings for each asset class:
Asset Fast EMA Slow EMA RSI OB/OS BB Mult SL/TP Mult
Gold 12 26 75/25 2.5 1.8/2.5
Nasdaq 10 20 70/30 2.0 1.5/2.0
US30 9 21 70/30 2.0 1.5/2.0
S&P 500 10 20 70/30 2.0 1.5/2.0
Forex 14 28 65/35 1.8 1.2/1.8
These settings are tailored to each asset’s volatility and market behavior but can be adjusted for specific preferences or market conditions.
How to Use the Strategy in TradingView
Follow these steps to implement and use the strategy effectively:
• Add the Script to TradingView:
• Open TradingView (www.tradingview.com) (www.tradingview.com).
• Go to the Pine Editor at the bottom of the screen.
• Copy and paste the provided Pine Script code.
• Click Add to Chart to apply the strategy to your chart.
• Configure Settings:
• Open the Settings panel by clicking the gear icon next to the strategy name on the chart.
• Adjust inputs such as EMA lengths, RSI thresholds, MACD settings, Bollinger Bands multiplier, and SL/TP multipliers.
• Refer to the on-screen table (top-right corner) for recommended settings for your chosen asset (Gold, Nasdaq, US30, S&P 500, or Forex pairs).
• Select the desired Timeframe from the dropdown (default: 1H). 1H or 4H is recommended for reliable signals.
• Apply to Your Asset:
• Load the chart for your desired asset (e.g., XAUUSD for Gold, NAS100 for Nasdaq, EURUSD for Forex).
• Ensure the timeframe matches your trading style (e.g., 1H for swing trading, 15m for shorter-term trades).
• Monitor Trading Signals:
• Long Entries: Look for green triangles below the price bars, indicating a buy signal.
• Short Entries: Look for red triangles above the price bars, indicating a sell signal.
• The strategy automatically sets stop-loss and take-profit levels for each trade based on ATR.
• Fast and Slow EMAs are plotted on the chart (blue and red lines, respectively) to visualize the trend.
• Backtest the Strategy:
• Go to the Strategy Tester tab in TradingView (bottom panel).
• Review performance metrics (e.g., win rate, profit factor) for your chosen asset and timeframe.
• Adjust settings if needed to optimize performance based on historical data.
• Trade with Risk Management:
• Risk no more than 1-2% of your account per trade to protect against losses.
• Monitor open trades in the Strategy Tester or your broker’s platform, as the strategy manages exits automatically.
• Be aware that no strategy guarantees profits; always trade with caution.
Tips for Success
• Backtest Thoroughly: Test the strategy on historical data for each asset to understand its performance in different market conditions.
• Adjust Settings: Use the recommended settings as a starting point, but fine-tune parameters (e.g., EMA lengths, SL/TP multipliers) based on your trading style or market volatility.
• Combine with Analysis: Consider supplementing the strategy with fundamental analysis or support/resistance levels for additional confirmation.
• Choose the Right Timeframe: Higher timeframes (1H, 4H) reduce noise and improve signal reliability, while lower timeframes (e.g., 15m) suit day trading but may generate more false signals.
• Stay Disciplined: Follow the strategy’s signals and risk management rules to avoid emotional trading decisions.
Warnings
• Market Risk: Trading involves significant risk, and past performance does not guarantee future results. Only trade with capital you can afford to lose.
• Broker Compatibility: Ensure your broker supports TradingView’s strategy signals if you plan to automate trades.
• Testing Required: Always backtest and demo trade the strategy before using it with real money to confirm its suitability for your goals.
Customization
The strategy is highly flexible. You can modify parameters (e.g., indicator periods, SL/TP ratios) in the settings panel to suit specific assets or market conditions. For advanced users, the Pine Script code can be edited to add new indicators (e.g., Fibonacci levels, ADX) or adjust the trading logic.
Support
If you encounter issues (e.g., errors in TradingView) or need help customizing the strategy, consult the TradingView Pine Script documentation or seek assistance from a Pine Script developer. For questions about the strategy’s logic or performance, refer to the recommended settings table or backtest results.
