Multi-Strategy Profit SeekerOverview
The Multi-Strategy Profit Seeker is a versatile trading script designed for use on platforms like TradingView. It supports three trading styles—Scalping, Swing Trading, and Long-Term Investing—and leverages several technical indicators to identify trading opportunities across different market conditions. This script is customizable and suitable for traders seeking flexibility in their strategies.
Key Features
1. Multi-Strategy Support
Scalping: Focused on quick, frequent trades targeting small profits.
Swing Trading: Designed to capture larger price movements over days or weeks.
Long-Term Investing: Identifies and follows trends lasting for months or longer.
2. Integrated Indicators
Each indicator serves a specific purpose and is optimized for the selected trading style:
ADX (Average Directional Index):
What: Measures trend strength.
Why: Ensures trades are made during strong trending markets, avoiding weak movements.
Parameters:
Scalping: Length 14, Threshold 20
Swing: Length 14, Threshold 25
Long-Term: Length 14, Threshold 20
RSI (Relative Strength Index):
What: Indicates overbought or oversold conditions by measuring price movement speed.
Why: Helps identify potential reversal points in the market.
Parameters:
Scalping: Length 7, Overbought 65, Oversold 35
Swing: Length 14, Overbought 70, Oversold 30
Long-Term: Length 14, Overbought 80, Oversold 40
EMA (Exponential Moving Averages):
What: Tracks price trends by giving more weight to recent data.
Why: Confirms trend direction via crossovers.
Parameters:
Scalping: Fast EMA 9, Slow EMA 21
Swing: Fast EMA 12, Slow EMA 26
Long-Term: Fast EMA 50, Slow EMA 100
Bollinger Bands:
What: Measures volatility and identifies price levels relative to the moving average.
Why: Detects overextensions and potential breakouts.
Parameters:
Scalping: Length 15, Multiplier 1.5
Swing/Long-Term: Length 20, Multiplier 2.0
Supertrend:
What: Confirms trend direction by combining price and volatility.
Why: Filters out noise and strengthens signal accuracy.
Parameters:
Scalping: Length 7, Multiplier 1.0
Swing: Length 10, Multiplier 1.5
Long-Term: Length 10, Multiplier 2.0
Session Filtering:
What: Limits signal generation to trader-defined market hours.
Why: Avoids signals during low liquidity periods or after-hours trading.
Debug Mode:
What: Displays intermediate indicator values for analysis and tuning.
Why: Helps traders refine script parameters.
How It Works
Scalping: Generates frequent signals based on fast indicators for short-term trades.
Swing Trading: Aligns momentum and trend confirmation for mid-term trades.
Long-Term Investing: Focuses on significant trend changes for long-term positions.
Signals
Buy Signal:
Triggered when:
RSI exits oversold levels.
Fast EMA crosses above Slow EMA.
Price aligns with Bollinger Bands.
ADX and Supertrend confirm a strong bullish trend.
Sell Signal:
Triggered when:
RSI exits overbought levels.
Fast EMA crosses below Slow EMA.
Price aligns with Bollinger Bands.
ADX and Supertrend confirm a strong bearish trend.
Usage
Setup:
Add the script to your TradingView chart.
Select your preferred trading style: Scalping, Swing Trading, or Long-Term Investing.
Define active trading hours using the Session Filter.
Optionally enable Debug Mode for detailed insights.
Signal Interpretation:
Look for green labels (Buy) or red labels (Sell) on your chart.
Alerts:
Configure alerts to notify you when a Buy or Sell signal is generated.
Purpose of Calculations
Trend Analysis (ADX): Ensures trades are executed in strong trending markets.
Momentum (RSI, EMA): Aligns trades with market direction and momentum.
Volatility (Bollinger Bands): Filters out unsustainable trades during high volatility.
Trend Confirmation (Supertrend): Reduces false signals by verifying the primary trend.
Disclaimer
This script is for educational purposes only and does not constitute financial advice. Past performance is not indicative of future results. Trading involves significant risk, and you may lose more than your initial investment. Always perform your own research and use proper risk management strategies.
This script is flexible and customizable. You can adjust its parameters to match your trading style, preferences, or market conditions. However, backtesting is essential to evaluate its performance and reliability before using it in live trading scenarios.
Swing-trading
Fibonacci-Only StrategyFibonacci-Only Strategy
This script is a custom trading strategy designed for traders who leverage Fibonacci retracement levels to identify potential trade entries and exits. The strategy is versatile, allowing users to trade across multiple timeframes, with built-in options for dynamic stop loss, trailing stops, and take profit levels.
Key Features:
Custom Fibonacci Levels:
This strategy calculates three specific Fibonacci retracement levels: 19%, 82.56%, and the reverse 19% level. These levels are used to identify potential areas of support and resistance where price reversals or breaks might occur.
The Fibonacci levels are calculated based on the highest and lowest prices within a 100-bar period, making them dynamic and responsive to recent market conditions.
Dynamic Entry Conditions:
Touch Entry: The script enters long or short positions when the price touches specific Fibonacci levels and confirms the move with a bullish (for long) or bearish (for short) candle.
Break Entry (Optional): If the "Use Break Strategy" option is enabled, the script can also enter positions when the price breaks through Fibonacci levels, providing more aggressive entry opportunities.
Stop Loss Management:
The script offers flexible stop loss settings. Users can choose between a fixed percentage stop loss or an ATR-based stop loss, which adjusts based on market volatility.
The ATR (Average True Range) stop loss is multiplied by a user-defined factor, allowing for tailored risk management based on market conditions.
Trailing Stop Mechanism:
The script includes an optional trailing stop feature, which adjusts the stop loss level as the market moves in favor of the trade. This helps lock in profits while allowing the trade to run if the trend continues.
The trailing stop is calculated as a percentage of the difference between the entry price and the current market price.
Multiple Take Profit Levels:
The strategy calculates seven take profit levels, each at incremental percentages above (for long trades) or below (for short trades) the entry price. This allows for gradual profit-taking as the market moves in the trade's favor.
Each take profit level can be customized in terms of the percentage of the position to be closed, providing precise control over exit strategies.
Strategy Backtesting and Results:
Realistic Backtesting:
The script has been backtested with realistic account sizes, commission rates, and slippage settings to ensure that the results are applicable to actual trading scenarios.
The backtesting covers various timeframes and markets to ensure the strategy's robustness across different trading environments.
Default Settings:
The script is published with default settings that have been optimized for general use. These settings include a 15-minute timeframe, a 1.0% stop loss, a 2.0 ATR multiplier for stop loss, and a 1.5% trailing stop.
Users can adjust these settings to better fit their specific trading style or the market they are trading.
How It Works:
Long Entry Conditions:
The strategy enters a long position when the price touches the 19% Fibonacci level (from high to low) or the reverse 19% level (from low to high) and confirms the move with a bullish candle.
If the "Use Break Strategy" option is enabled, the script will also enter a long position when the price breaks below the 19% Fibonacci level and then moves back up, confirming the break with a bullish candle.
Short Entry Conditions:
The strategy enters a short position when the price touches the 82.56% Fibonacci level and confirms the move with a bearish candle.
If the "Use Break Strategy" option is enabled, the script will also enter a short position when the price breaks above the 82.56% Fibonacci level and then moves back down, confirming the break with a bearish candle.
Stop Loss and Take Profit Logic:
The stop loss for each trade is calculated based on the selected method (fixed percentage or ATR-based). The strategy then manages the trade by either trailing the stop or taking profit at predefined levels.
The take profit levels are set at increments of 0.5% above or below the entry price, depending on whether the position is long or short. The script gradually exits the trade as these levels are hit, securing profits while minimizing risk.
Usage:
For Fibonacci Traders:
This script is ideal for traders who rely on Fibonacci retracement levels to find potential trade entries and exits. The script automates the process, allowing traders to focus on market analysis and decision-making.
For Trend and Swing Traders:
The strategy's flexibility in handling both touch and break entries makes it suitable for trend-following and swing trading strategies. The multiple take profit levels allow traders to capture profits in trending markets while managing risk.
Important Notes:
Originality: This script uniquely combines Fibonacci retracement levels with dynamic stop loss management and multiple take profit levels. It is not just a combination of existing indicators but a thoughtful integration designed to enhance trading performance.
Disclaimer: Trading involves risk, and it is crucial to test this script in a demo account or through backtesting before applying it to live trading. Users should ensure that the settings align with their individual risk tolerance and trading strategy.
