Correlation Strategy

This is a basic strategy that shows how to trigger short/long/close signals on chart's symbol based on calculations made on another symbol which we consider correlated to it.

With default parameters, ETH/USDT as base symbol, the strategy shows good results in backtest for several symbols : DENT/USDT, BTT/USDT, FTT/USDT, DOT/USDT etc.
This is not surprising giving the importance of ETH in the crypto market so it makes sense many crypto currencies will follow ETH big movements.
Note : the strategy with default parameters is supposed to be applied on 4h timeframe. On other timeframes, try another support length.

How the strategy works :
A wma is calculated on the base symbol, with 200 length by default.
When wma is rising, we go long. When wma is falling we go short.
Take profit for Long/Short and Stop Loss for Long/Short are calculated percentages so 0.05 = 5% etc.
Also, Take profit / Stop loss are calculated on the base symbol not the chart's symbol.

The script uses the Monthly Returns table slightly modified to include buy & hold returns. Credits to @QuantNomad