is_strategyCorrection-Adaptive Trend Strategy (Open-Source)
Core Advantage: Designed specifically for the is_correction indicator, with full transparency and customization options.
Key Features:
Open-Source Code:
✅ Full access to the strategy logic – study how every trade signal is generated.
✅ Freedom to customize – modify entry/exit rules, risk parameters, or add new indicators.
✅ No black boxes – understand and trust every decision the strategy makes.
Built for is_correction:
Filters out false signals during market noise.
Works only in confirmed trends (is_correction = false).
Adaptable for Your Needs:
Change Take Profit/Stop Loss ratios directly in the code.
Add alerts, notifications, or integrate with other tools (e.g., Volume Profile).
For Developers/Traders:
Use the code as a template for your own strategies.
Test modifications risk-free on historical data.
How the Strategy Works:
Main Goal:
Automatically buys when the price starts rising and sells when it starts falling, but only during confirmed trends (ignoring temporary pullbacks).
What You See on the Chart:
📈 Up arrows ▼ (below the candle) = Buy signal.
📉 Down arrows ▲ (above the candle) = Sell signal.
Gray background = Market is in a correction (no trades).
Key Mechanics:
Buy Condition:
Price closes higher than the previous candle + is_correction confirms the main trend (not a pullback).
Example: Red candle → green candle → ▼ arrow → buy.
Sell Condition:
Price closes lower than the previous candle + is_correction confirms the trend (optional: turn off short-selling in settings).
Exit Rules:
Closes trades automatically at:
+0.5% profit (adjustable in settings).
-0.5% loss (adjustable).
Or if a reverse signal appears (e.g., sell signal after a buy).
User-Friendly Settings:
Sell – On (default: ON):
ON → Allows short-selling (selling when price falls).
OFF → Strategy only buys and closes positions.
Revers (default: OFF):
ON → Inverts signals (▼ = sell, ▲ = buy).
%Profit & %Loss:
Adjust these values (0-30%) to increase/decrease profit targets and risk.
Example Scenario:
Buy Signal:
Price rises for 3 days → green ▼ arrow → strategy buys.
Stop loss set 0.5% below entry price.
If price keeps rising → trade closes at +0.5% profit.
Correction Phase:
After a rally, price drops for 1 day → gray background → strategy ignores the drop (no action).
Stop Loss Trigger:
If price drops 0.5% from entry → trade closes automatically.
Key Features:
Correction Filter (is_correction):
Acts as a “noise filter” → avoids trades during temporary pullbacks.
Flexibility:
Disable short-selling, flip signals, or tweak profit/loss levels in seconds.
Transparency:
Open-source code → see exactly how every signal is generated (click “Source” in TradingView).
Tips for Beginners:
Test First:
Run the strategy on historical data (click the “Chart” icon in TradingView).
See how it performed in the past.
Customize It:
Increase %Profit to 2-3% for volatile assets like crypto.
Turn off Sell – On if short-selling confuses you.
Trust the Stop Loss:
Even if you think the price will rebound, the strategy will close at -0.5% to protect your capital.
Where to Find Settings:
Click the strategy name on the top-left of your chart → adjust sliders/toggles in the menu.
Русская Версия
Трендовая стратегия с открытым кодом
Главное преимущество: Полная прозрачность логики и адаптация под ваши нужды.
Особенности:
Открытый исходный код:
✅ Видите всю «кухню» стратегии – как формируются сигналы, когда открываются сделки.
✅ Меняйте правила – корректируйте тейк-профит, стоп-лосс или добавляйте новые условия.
✅ Никаких секретов – вы контролируете каждое правило.
Заточка под is_correction:
Игнорирует ложные сигналы в коррекциях.
Работает только в сильных трендах (is_correction = false).
Гибкая настройка:
Подстройте параметры под свой риск-менеджмент.
Добавьте свои индикаторы или условия для входа.
Для трейдеров и разработчиков:
Используйте код как основу для своих стратегий.
Тестируйте изменения на истории перед реальной торговлей.
Простыми словами:
Почему это удобно:
Открытый код = полный контроль. Вы можете:
Увидеть, как именно стратегия решает купить или продать.
Изменить правила закрытия сделок (например, поставить TP=2% вместо 1.5%).
Добавить новые условия (например, торговать только при высоком объёме).
Примеры кастомизации:
Новички: Меняйте только TP/SL в настройках (без кодинга).
Продвинутые: Добавьте RSI-фильтр, чтобы избегать перекупленности.
Разработчики: Встройте стратегию в свою торговую систему.
Как начать:
Скачайте код из TradingView.
Изучите логику в разделе strategy.entry/exit.
Меняйте параметры в блоке input.* (безопасно!).
Тестируйте изменения и оптимизируйте под свои цели.
Как работает стратегия:
Главная задача:
Автоматически покупает, когда цена начинает расти, и продаёт, когда падает. Но делает это «умно» — только когда рынок в основном тренде, а не во временном откате (коррекции).
Что видно на графике:
📈 Стрелки вверх ▼ (под свечой) — сигнал на покупку.
📉 Стрелки вниз ▲ (над свечой) — сигнал на продажу.
Серый фон — рынок в коррекции (не торгуем).
Как это работает:
Когда покупаем:
Если цена закрылась выше предыдущей и индикатор is_correction показывает «основной тренд» (не коррекция).
Пример: Была красная свеча → стала зелёная → появилась стрелка ▼ → покупаем.
Когда продаём:
Если цена закрылась ниже предыдущей и is_correction подтверждает тренд (опционально, можно отключить в настройках).
Когда закрываем сделку:
Автоматически при достижении:
+0.5% прибыли (можно изменить в настройках).
-0.5% убытка (можно изменить).
Или если появился противоположный сигнал (например, после покупки пришла стрелка продажи).
Настройки для чайников:
«Sell – On» (включено по умолчанию):
Если включено → стратегия будет продавать в шорт.
Если выключено → только покупки и закрытие позиций.
«Revers» (выключено по умолчанию):
Если включить → стратегия будет работать наоборот (стрелки ▼ = продажа, ▲ = покупка).
«%Profit» и «%Loss»:
Меняйте эти цифры (от 0 до 30), чтобы увеличить/уменьшить прибыль и риски.
Пример работы:
Сигнал на покупку:
Цена 3 дня растет → появляется зелёная стрелка ▼ → стратегия покупает.
Стоп-лосс ставится на 0.5% ниже цены входа.
Если цена продолжает расти → сделка закрывается при +0.5% прибыли.
Коррекция:
После роста цена падает на 1 день → фон становится серым → стратегия игнорирует это падение (не закрывает сделку).
Стоп-лосс:
Если цена упала на 0.5% от точки входа → сделка закрывается автоматически.
Важные особенности:
Фильтр коррекций (is_correction):
Это «защита от шума» — стратегия не реагирует на мелкие откаты, работая только в сильных трендах.
Гибкие настройки:
Можно запретить шорты, перевернуть сигналы или изменить уровни прибыли/убытка за 2 клика.
Прозрачность:
Весь код открыт → вы можете увидеть, как формируется каждый сигнал (меню «Исходник» в TradingView).
Советы для новичков:
Начните с теста:
Запустите стратегию на исторических данных (кнопка «Свеча» в окне TradingView).
Посмотрите, как она работала в прошлом.
Настройте под себя:
Увеличьте %Profit до 2-3%, если торгуете валюты.
Отключите «Sell – On», если не понимаете шорты.
Доверяйте стоп-лоссу:
Даже если кажется, что цена развернётся — стратегия закроет сделку при -0.5%, защитив ваш депозит.
Где найти настройки:
Кликните на название стратегии в верхнем левом углу графика → откроется меню с ползунками и переключателями.
Важно: Стратегия предоставляет «рыбу» – чтобы она стала «уловистой», адаптируйте её под свой стиль торговли!
Multitimeframe
Neon Momentum Waves StrategyIntroduction
The Neon Momentum Waves Strategy is a momentum-based indicator designed to help traders visualize potential shifts in market direction. It builds upon a MACD-style calculation while incorporating an enhanced visual representation of momentum waves. This approach may assist traders in identifying areas of increasing or decreasing momentum, potentially aligning with market trends or reversals.
How It Works
This strategy is based on a modified MACD (Moving Average Convergence Divergence) method, calculating the difference between two Exponential Moving Averages (EMAs). The momentum wave represents this difference, while an additional smoothing line (signal line) helps highlight potential momentum shifts.
Key Components:
Momentum Calculation:
Uses a fast EMA (12-period) and a slow EMA (26-period) to measure short-term and long-term momentum.
A signal line (20-period EMA of the MACD difference) smooths fluctuations.
The histogram (momentum wave) represents the divergence between the MACD value and the signal line.
Interpreting Momentum Changes:
Momentum Increasing: When the histogram rises above the zero line, it may indicate strengthening upward movement.
Momentum Decreasing: When the histogram moves below the zero line, it may signal a weakening trend or downward momentum.
Potential Exhaustion Points: Users can define custom threshold levels (default: ±10) to highlight when momentum is significantly strong or weak.
Visual Enhancements:
The neon glow effect is created by layering multiple plots with decreasing opacity, enhancing the clarity of momentum shifts.
Aqua-colored waves highlight upward momentum, while purple waves represent downward momentum.
Horizontal reference lines mark the zero line and user-defined thresholds to improve interpretability.
How It Differs from Traditional Indicators
Improved Visualization: Unlike standard MACD histograms, this approach provides clearer visual cues using a neon-style wave format.
Customizable Thresholds: Rather than relying solely on MACD crossovers, users can adjust sensitivity settings to better suit their trading style.
Momentum-Based Approach: The strategy is focused on visualizing shifts in momentum strength, rather than predicting price movements.
Potential Use Cases
Momentum Trend Awareness: Helps traders identify periods where momentum appears to be strengthening or fading.
Market Structure Analysis: May complement other indicators to assess whether price action aligns with momentum changes.
Flexible Timeframe Application: Can be used across different timeframes, depending on the trader’s strategy.
Important Considerations
This strategy is purely momentum-based and does not incorporate volume, fundamental factors, or price action confirmation.
Momentum shifts do not guarantee price direction changes—they should be considered alongside broader market context.
The strategy may perform differently in trending vs. ranging markets, so adjustments in sensitivity may be needed.
Risk management is essential—traders should apply proper stop-losses and position sizing techniques in line with their risk tolerance.
Conclusion
The Neon Momentum Waves Strategy provides a visually enhanced method of tracking momentum, allowing traders to observe potential changes in market strength. While not a predictive tool, it serves as a complementary indicator that may help traders in momentum-based decision-making. As with any technical tool, it should be used as part of a broader strategy that considers multiple factors in market analysis.
JMA Quantum Edge: Adaptive Precision Trading System JMA Quantum Edge: Adaptive Precision Trading System - Enhanced Visuals & Risk Management
Get ready to experience a groundbreaking trading strategy that adapts in real-time to market conditions! This powerful, open-source script combines advanced technical analysis with state-of-the-art risk management tools, designed to give you the edge you need in today's dynamic markets.
What It Does:
Adaptive JMA Indicator:
Utilizes a custom Jurik Moving Average (JMA) that adjusts its sensitivity based on market volatility, ensuring you get precise signals even in the most fluctuating environments.
Dynamic Risk Management:
Features built-in support for partial exits (scaling out) to secure profits, along with an optional Kelly Criterion-based position sizing that tailors your exposure based on historical performance metrics.
Robust Error Handling:
Incorporates market condition filters—like minimum volume and maximum allowed gap percentage—to ensure trades are only executed under favorable conditions.
Vivid Visual Enhancements:
Enjoy an animated background that reflects market momentum, dynamic pivot markers, and clearly drawn trend channels. Plus, interactive tables provide real-time performance analytics and detailed error metrics.
Fully Customizable:
With a comprehensive set of inputs, you can easily tailor the strategy to your personal trading style and market preferences. Adjust everything from JMA parameters to refresh intervals for tables and labels!
How to Use It:
Add the Script:
Copy and paste the script into the Pine Script Editor on TradingView and click “Add to Chart.”
Configure Your Settings:
Customize your risk management (capital, commission, position sizing, partial exits, etc.) and tweak the JMA settings to match your preferred trading style. Use the extensive input panel to adjust visuals, alerts, and more.
Backtest & Optimize:
Run the strategy in the Strategy Tester to analyze its historical performance. Monitor real-time analytics and error metrics via the interactive tables, and fine-tune your parameters for optimal performance.
Go Live with Confidence:
Once you're satisfied with the backtest results, use the generated signals for live trading, and let the system help you stay ahead in fast-paced markets!
How to use the imputs:
This cutting-edge strategy is designed to adapt to changing market conditions and offers you complete control over your trading parameters. Here’s a breakdown of what each group of inputs does and how you should use them:
Risk Management & Trade Settings
Recalculate on Every Tick:
What it does: When enabled, the strategy recalculates on every price update.
Recommendation: Leave it true for fast charts.
Initial Capital:
What it does: Sets your starting capital for backtesting, which influences position sizing and performance metrics.
Recommendation: Start with $10,000 (or adjust according to your trading capital).
Commission (%):
What it does: Simulates the cost per trade.
Recommendation: Use a realistic rate (e.g., 0.04%).
Position Size & Quantity Type:
What they do: Define how large each trade will be. Choose between a fixed unit amount or a percentage of equity.
Recommendation: For beginners, the default fixed value is a good start. Experiment later with percentage-based sizing if needed.
Order Comment:
What it does: Adds a label to your orders for easier tracking.
Allow Reverse Orders:
What it does: If disabled, the strategy will close opposing positions before entering a new trade, reducing conflicts.
Enable Dynamic Position Sizing:
What it does: Adjusts trade size based on current volatility.
Recommendation: Beginners may start with this disabled until they understand basic sizing.
Partial Exit Inputs:
What they do:
Enable Partial Exits: When turned on, you can scale out of your position to lock in profits.
Partial Exit Profit (%): The profit percentage that triggers a partial exit.
Partial Exit Percentage: The percentage of your current position to exit. Recommendation: Use defaults (e.g., 5% profit, 50% exit) to secure profits gradually.
Kelly Criterion Option:
What it does: When enabled, adjusts your position sizing using historical performance (win rate and profit factor).
Recommendation: Beginners might leave this disabled until comfortable with backtest performance metrics.
Market Condition Filters:
What they do:
Minimum Volume: Ensures trades occur only when there’s sufficient market activity.
Maximum Gap (%): Prevents trading if there’s an unusually large gap between the previous close and current open. Recommendation: Defaults work well for most markets. If trades seem erratic, consider tightening these limits.
JMA Settings
Price Source:
What it does: The input series for the JMA calculation, typically set to the closing price.
JMA Length:
What it does: Controls the smoothing period of the JMA. Lower values are more sensitive; higher values smooth out the noise. Recommendation: Start with 21.
JMA Phase & Power:
What they do: Adjust how responsive the JMA is. Phase controls timing; power adjusts the intensity. Recommendation: Default settings (63 phase and 3 power) are a balanced starting point.
Visual Settings & Style
Show JMA Line, Pivot Lines, and Pivot Labels:
What they do: Toggle visual elements on your chart for easier signal identification.
Pivot History Count:
What it does: Limits how many historical pivot markers are displayed.
Color Settings (Up/Down Neon Colors):
What they do: Set the visual cues for buy and sell signals.
Pivot Marker & Line Style:
What they do: Choose the style and thickness of your pivot markers and lines.
Show Stats Panel:
What it does: Displays real-time performance and error metrics.
Dynamic Background & Visual Enhancements
Animate Background:
What it does: Changes the background color based on market momentum.
Show Trend Channels & Volume Zones:
What they do: Draw trend channels and highlight areas of high volatility/volume.
Show Data-Rich Labels:
What it does: Displays key metrics like volume, error percentage, and momentum on the chart.
High Volatility Threshold:
What it does: Determines the multiplier for when the chart background should change due to high volatility.
Multi-Timeframe Settings
Higher Timeframe:
What it does: Uses a higher timeframe’s JMA for trend confirmation. Recommendation: Use Daily ('D') or Weekly ('W') for broader trend analysis.
Show HTF Trend Zone & Opacity:
What they do: Display a visual zone from the higher timeframe to help confirm trends.
6. Trailing Stop Settings
Trailing Stop ATR Factor & Offset Multiplier:
What they do: Calculate trailing stops based on the Average True Range (ATR), adjusting stop distances dynamically. Recommendation: Default settings are a good balance but can be fine-tuned based on asset volatility.
Alerts & Notifications
Alerts on Pivot Formation & JMA Crossover:
What they do: Notify you when key events occur.
Dynamic Power Threshold:
What it does: Sets the sensitivity for dynamic alerts.
8. Static Stop Loss / Take Profit
Static Stop Loss (%) & Take Profit (%):
What they do: Allow you to set fixed stop loss or take profit levels. Recommendation: Leave them at 0 to disable if you prefer dynamic risk management, or set them if you have strict risk/reward preferences.
Advanced Settings
ATR Length:
What it does: Determines the period for ATR calculation, impacting trailing stop sensitivity. Recommendation: Start with 14.
Optimization Feedback & Enhanced Error Analysis
Error Metric Length & Error Threshold (%):
What they do: Calculate error metrics (like average error, skewness, and kurtosis) to help you fine-tune the JMA. Recommendation: Use the defaults and adjust if the error metrics seem off during backtesting.
UI - User-Driven Tweaking & Table Customization
Parameter Tweaker Panel, Debug/Performance Table Settings:
What they do: Provide interactive tables that display real-time performance, error metrics, and allow you to monitor strategy parameters.
Refresh Frequency Options (Table & Label Refresh Intervals):
What they do: Set how often the tables and labels update.
Recommendation: Start with an interval of 1 bar; increase it if your chart is too busy.
Important for Beginners:
Default Settings:
All default values have been chosen for balanced performance across different markets. If you ever experience unexpected behavior, start by resetting the inputs to their defaults.
Step-by-Step Adjustments:
Experiment by changing one setting at a time while observing how the strategy’s signals and performance metrics change. This will help you understand the impact of each parameter.
Resetting to Defaults:
If things seem off or you’re not getting the expected results, you can always reset the indicator. Either reload the script or use the “Reset Inputs” option (if available) to revert to the default settings.
Jump in, experiment, and enjoy the power of adaptive precision trading. This strategy is built to grow with your skills—have fun exploring and refining your trading edge!
Happy trading!
Multi-Timeframe RSI Grid Strategy with ArrowsKey Features of the Strategy
Multi-Timeframe RSI Analysis:
The strategy calculates RSI values for three different timeframes:
The current chart's timeframe.
Two higher timeframes (configurable via higher_tf1 and higher_tf2 inputs).
It uses these RSI values to identify overbought (sell) and oversold (buy) conditions.
Grid Trading System:
The strategy uses a grid-based approach to scale into trades. It adds positions at predefined intervals (grid_space) based on the ATR (Average True Range) and a grid multiplication factor (grid_factor).
The grid system allows for pyramiding (adding to positions) up to a maximum number of grid levels (max_grid).
Daily Profit Target:
The strategy has a daily profit target (daily_target). Once the target is reached, it closes all open positions and stops trading for the day.
Drawdown Protection:
If the open drawdown exceeds 2% of the account equity, the strategy closes all positions to limit losses.
Reverse Signals:
If the RSI conditions reverse (e.g., from buy to sell or vice versa), the strategy closes all open positions and resets the grid.
Visualization:
The script plots buy and sell signals as arrows on the chart.
It also plots the RSI values for the current and higher timeframes, along with overbought and oversold levels.
How It Works
Inputs:
The user can configure parameters like RSI length, overbought/oversold levels, higher timeframes, grid spacing, lot size multiplier, maximum grid levels, daily profit target, and ATR length.
RSI Calculation:
The RSI is calculated for the current timeframe and the two higher timeframes using ta.rsi().
Grid System:
The grid system uses the ATR to determine the spacing between grid levels (grid_space).
When the price moves in the desired direction, the strategy adds positions at intervals of grid_space, increasing the lot size by a multiplier (lot_multiplier) for each new grid level.
Entry Conditions:
A buy signal is generated when the RSI is below the oversold level on all three timeframes.
A sell signal is generated when the RSI is above the overbought level on all three timeframes.
Position Management:
The strategy scales into positions using the grid system.
It closes all positions if the daily profit target is reached or if a reverse signal is detected.
Visualization:
Buy and sell signals are plotted as arrows on the chart.
RSI values for all timeframes are plotted, along with overbought and oversold levels.
Example Scenario
Suppose the current RSI is below 30 (oversold), and the RSI on the 60-minute and 240-minute charts is also below 30. This triggers a buy signal.
The strategy enters a long position with a base lot size.
If the price moves against the position by grid_space, the strategy adds another long position with a larger lot size (scaled by lot_multiplier).
This process continues until the maximum grid level (max_grid) is reached or the daily profit target is achieved.
Key Variables
grid_level: Tracks the current grid level (number of positions added).
last_entry_price: Tracks the price of the last entry.
base_size: The base lot size for the initial position.
daily_profit_target: The daily profit target in percentage terms.
target_reached: A flag to indicate whether the daily profit target has been achieved.
Potential Use Cases
This strategy is suitable for traders who want to combine RSI-based signals with a grid trading approach to capitalize on mean-reverting price movements.
It can be used in trending or ranging markets, depending on the RSI settings and grid parameters.
Limitations
The grid trading system can lead to significant drawdowns if the market moves strongly against the initial position.
The strategy relies heavily on RSI, which may produce false signals in strongly trending markets.
The daily profit target may limit potential gains in highly volatile markets.
Customization
You can adjust the input parameters (e.g., RSI length, overbought/oversold levels, grid spacing, lot multiplier) to suit your trading style and market conditions.
You can also modify the drawdown protection threshold or add additional filters (e.g., volume, moving averages) to improve the strategy's performance.
In summary, this script is a sophisticated trading strategy that combines RSI-based signals with a grid trading system to manage entries, exits, and position sizing. It includes features like daily profit targets, drawdown protection, and multi-timeframe analysis to enhance its robustnes
Multi-Band Comparison Strategy (CRYPTO)Multi-Band Comparison Strategy (CRYPTO)
Optimized for Cryptocurrency Trading
This Pine Script strategy is built from the ground up for traders who want to take advantage of cryptocurrency volatility using a confluence of advanced statistical bands. The strategy layers Bollinger Bands, Quantile Bands, and a unique Power-Law Band to map out crucial support/resistance zones. It then focuses on a Trigger Line—the lower standard deviation band of the upper quantile—to pinpoint precise entry and exit signals.
Key Features
Bollinger Band Overlay
The upper Bollinger Band visually shifts to yellow when price exceeds it, turning black otherwise. This offers a straightforward way to gauge heightened momentum or potential market slowdowns.
Quantile & Power-Law Integration
The script calculates upper and lower quantile bands to assess probabilistic price extremes.
A Power-Law Band is also available to measure historically significant return levels, providing further insight into overbought or oversold conditions in fast-moving crypto markets.
Standard Deviation Trigger
The lower standard deviation band of the upper quantile acts as the strategy’s trigger. If price consistently holds above this line, the strategy interprets it as a strong bullish signal (“green” zone). Conversely, dipping below indicates a “red” zone, signaling potential reversals or exits.
Consecutive Bar Confirmation
To reduce choppy signals, you can fine-tune the number of consecutive bars required to confirm an entry or exit. This helps filter out noise and false breaks—critical in the often-volatile crypto realm.
Adaptive for Multiple Timeframes
Whether you’re scalping on a 5-minute chart or swing trading on daily candles, the strategy’s flexible confirmation and overlay options cater to different market conditions and trading styles.
Complete Plot Customization
Easily toggle visibility of each band or line—Bollinger, Quantile, Power-Law, and more.
Built-in Simple and Exponential Moving Averages can be enabled to further contextualize market trends.
Why It Excels at Crypto
Cryptocurrencies are known for rapid price swings, and this strategy addresses exactly that by combining multiple statistical methods. The quantile-based confirmation reduces noise, while Bollinger and Power-Law bands help highlight breakout regions in trending markets. Traders have reported that it works seamlessly across various coins and tokens, adapting its triggers to each asset’s unique volatility profile.
Give it a try on your favorite cryptocurrency pairs. With advanced data handling, crisp visual cues, and adjustable confirmation logic, the Multi-Band Comparison Strategy provides a robust framework to capture profitable moves and mitigate risk in the ever-evolving crypto space.
Tomas Ratio Strategy with Multi-Timeframe AnalysisHello,
I would like to present my new indicator I have compiled together inspired by Calmar Ratio which is a ratio that measures gains vs losers but with a little twist.
Basically the idea is that if HLC3 is above HLC3 (or previous one) it will count as a gain and it will calculate the percentage of winners in last 720 hourly bars and then apply 168 hour standard deviation to the weekly average daily gains.
The idea is that you're supposed to buy if the thick blue line goes up and not buy if it goes down (signalized by the signal line). I liked that idea a lot, but I wanted to add an option to fire open and close signals. I have also added a logic that it not open more trades in relation the purple line which shows confidence in buying.
As input I recommend only adjusting the amount of points required to fire a signal. Note that the lower amount you put, the more open trades it will allow (and vice versa)
Feel free to remove that limiter if you want to. It works without it as well, this script is meant for inexperienced eye.
I will also publish a indicator script with this limiter removed and alerts added for you to test this strategy if you so choose to.
Also, I have added that the trades will enter only if price is above 720 period EMA
Disclaimer
This strategy is for educational purposes only and should not be considered financial advice. Always backtest thoroughly and adjust parameters based on your trading style and market conditions.
Made in collaboration with ChatGPT.
Supertrend and MACD strategyThe Supertrend and MACD Strategy is a comprehensive trading approach designed to capitalize on market trends by using a combination of the Supertrend indicator, the Exponential Moving Average (EMA), and the Moving Average Convergence Divergence (MACD). This strategy aims to identify optimal entry and exit points for both long and short trades, while incorporating strict risk management rules.
Indicators Used:
Supertrend: This indicator is used to identify the overall trend direction. It provides clear signals for trend reversals, helping traders to enter trades in the direction of the prevailing trend.
200-period EMA: This long-term moving average is used to determine the primary trend direction. The strategy only takes long trades when the price is above the 200 EMA and short trades when the price is below it.
MACD: The MACD is used to gauge the momentum and confirm the signals provided by the Supertrend and EMA. It consists of the MACD line, the signal line, and the histogram.
Entry Conditions:
Long Entry:
The Supertrend indicator shows an uptrend (direction > 0).
The MACD line is above the signal line (macd > signal).
The price is above the 200-period EMA (close > ema200).
Short Entry:
The Supertrend indicator shows a downtrend (direction < 0).
The MACD line is below the signal line (macd < signal).
The price is below the 200-period EMA (close < ema200).
Exit Conditions:
Long Exit:
Exit the long position when the MACD line crosses below the signal line (ta.crossunder(macd, signal)).
Set a stop loss (SL) below the lowest low of the last 10 periods (lowestLow - 1).
Short Exit:
Exit the short position when the MACD line crosses above the signal line (ta.crossover(macd, signal)).
Set a stop loss (SL) above the highest high of the last 10 periods (highestHigh + 1).
Risk Management:
The strategy ensures that no new positions are opened if there is already an open trade, preventing overexposure in the market.
Alerts:
Alerts are set to notify traders when the MACD crosses the signal line, providing timely updates for potential exit points.
Adaptive Squeeze Momentum StrategyThe Adaptive Squeeze Momentum Strategy is a versatile trading algorithm designed to capitalize on periods of low volatility that often precede significant price movements. By integrating multiple technical indicators and customizable settings, this strategy aims to identify optimal entry and exit points for both long and short positions.
Key Features:
Long/Short Trade Control:
Toggle Options: Easily enable or disable long and short trades according to your trading preferences or market conditions.
Flexible Application: Adapt the strategy for bullish, bearish, or neutral market outlooks.
Squeeze Detection Mechanism:
Bollinger Bands and Keltner Channels: Utilizes the convergence of Bollinger Bands inside Keltner Channels to detect "squeeze" conditions, indicating a potential breakout.
Dynamic Squeeze Length: Calculates the average squeeze duration to adapt to changing market volatility.
Momentum Analysis:
Linear Regression: Applies linear regression to price changes over a specified momentum length to gauge the strength and direction of momentum.
Dynamic Thresholds: Sets momentum thresholds based on standard deviations, allowing for adaptive sensitivity to market movements.
Momentum Multiplier: Adjustable setting to fine-tune the aggressiveness of momentum detection.
Trend Filtering:
Exponential Moving Average (EMA): Implements a trend filter using an EMA to align trades with the prevailing market direction.
Customizable Length: Adjust the EMA length to suit different trading timeframes and assets.
Relative Strength Index (RSI) Filtering:
Overbought/Oversold Signals: Incorporates RSI to avoid entering trades during overextended market conditions.
Adjustable Levels: Set your own RSI oversold and overbought thresholds for personalized signal generation.
Advanced Risk Management:
ATR-Based Stop Loss and Take Profit:
Adaptive Levels: Uses the Average True Range (ATR) to set stop loss and take profit points that adjust to market volatility.
Custom Multipliers: Modify ATR multipliers for both stop loss and take profit to control risk and reward ratios.
Minimum Volatility Filter: Ensures trades are only taken when market volatility exceeds a user-defined minimum, avoiding periods of low activity.
Time-Based Exit:
Holding Period Multiplier: Defines a maximum holding period based on the momentum length to reduce exposure to adverse movements.
Automatic Position Closure: Closes positions after the specified holding period is reached.
Session Filtering:
Trading Session Control: Limits trading to predefined market hours, helping to avoid illiquid periods.
Custom Session Times: Set your preferred trading session to match market openings, closings, or specific timeframes.
Visualization Tools:
Indicator Plots: Displays Bollinger Bands, Keltner Channels, and trend EMA on the chart for visual analysis.
Squeeze Signals: Marks squeeze conditions on the chart, providing clear visual cues for potential trade setups.
Customization Options:
Indicator Parameters: Fine-tune lengths and multipliers for Bollinger Bands, Keltner Channels, momentum calculation, and ATR.
Entry Filters: Choose to use trend and RSI filters to refine trade entries based on your strategy.
Risk Management Settings: Adjust stop loss, take profit, and holding periods to match your risk tolerance.
Trade Direction Control: Enable or disable long and short trades independently to align with your market strategy or compliance requirements.
Time Settings: Modify the trading session times and enable or disable the time filter as needed.
Use Cases:
Trend Traders: Benefit from aligning entries with the broader market trend while capturing breakout movements.
Swing Traders: Exploit periods of low volatility leading to significant price swings.
Risk-Averse Traders: Utilize advanced risk management features to protect capital and manage exposure.
Disclaimer:
This strategy is a tool to assist in trading decisions and should be used in conjunction with other analyses and risk management practices. Past performance is not indicative of future results. Always test the strategy thoroughly and adjust settings to suit your specific trading style and market conditions.
STRATEGY Fibonacci Levels with High/Low Criteria - AYNET
Here is an explanation of the Fibonacci Levels Strategy with High/Low Criteria script:
Overview
This strategy combines Fibonacci retracement levels with high/low criteria to generate buy and sell signals based on price crossing specific thresholds. It utilizes higher timeframe (HTF) candlesticks and user-defined lookback periods for high/low levels.
Key Features
Higher Timeframe Integration:
The script calculates the open, high, low, and close values of the higher timeframe (HTF) candlestick.
Users can choose to calculate levels based on the current or the last HTF candle.
Fibonacci Levels:
Fibonacci retracement levels are dynamically calculated based on the HTF candlestick's range (high - low).
Users can customize the levels (0.000, 0.236, 0.382, 0.500, 0.618, 0.786, 1.000).
High/Low Lookback Criteria:
The script evaluates the highest high and lowest low over user-defined lookback periods.
These levels are plotted on the chart for visual reference.
Trade Signals:
Long Signal: Triggered when the close price crosses above both:
The lowest price criteria (lookback period).
The Fibonacci level 3 (default: 0.5).
Short Signal: Triggered when the close price crosses below both:
The highest price criteria (lookback period).
The Fibonacci level 3 (default: 0.5).
Visualization:
Plots Fibonacci levels and high/low criteria on the chart for easy interpretation.
Inputs
Higher Timeframe:
Users can select the timeframe (default: Daily) for the HTF candlestick.
Option to calculate based on the current or last HTF candle.
Lookback Periods:
lowestLookback: Number of bars for the lowest low calculation (default: 20).
highestLookback: Number of bars for the highest high calculation (default: 10).
Fibonacci Levels:
Fully customizable Fibonacci levels ranging from 0.000 to 1.000.
Visualization
Fibonacci Levels:
Plots six customizable Fibonacci levels with distinct colors and transparency.
High/Low Criteria:
Plots the highest and lowest levels based on the lookback periods as reference lines.
Trading Logic
Long Condition:
Price must close above:
The lowest price criteria (lowcriteria).
The Fibonacci level 3 (50% retracement).
Short Condition:
Price must close below:
The highest price criteria (highcriteria).
The Fibonacci level 3 (50% retracement).
Use Case
Trend Reversal Strategy:
Combines Fibonacci retracement with recent high/low criteria to identify potential reversal or breakout points.
Custom Timeframe Analysis:
Incorporates higher timeframe data for multi-timeframe trading strategies.
TFMTFM Strategy Explanation
Overview
The TFM (Timeframe Multiplier) strategy is a PineScript trading bot that utilizes multiple timeframes to identify entry and exit points.
Inputs
1. tfm (Timeframe Multiplier): Multiplies the chart's timeframe to create a higher timeframe for analysis.
2. lns (Long and Short): Enables or disables short positions.
Logic
Calculations
1. chartTf: Gets the chart's timeframe in seconds.
2. tfTimes: Calculates the higher timeframe by multiplying chartTf with tfm.
3. MintickerClose and MaxtickerClose: Retrieve the minimum and maximum closing prices from the higher timeframe using request.security.
- MintickerClose: Finds the lowest low when the higher timeframe's close is below its open.
- MaxtickerClose: Finds the highest high when the higher timeframe's close is above its open.
Entries and Exits
1. Long Entry: When the current close price crosses above MaxtickerClose.
2. Short Entry (if lns is true): When the current close price crosses below MintickerClose.
3. Exit Long: When the short condition is met (if lns is false) or when the trade is manually closed.
Strategy
1. Attach the script to a chart.
2. Adjust tfm and lns inputs.
3. Monitor entries and exits.
Example Use Cases
1. Intraday trading with tfm = 2-5.
2. Swing trading with tfm = 10-30.
Tips
1. Experiment with different tfm values.
2. Use lns to control short positions.
3. Combine with other indicators for confirmation.
Supertrend StrategyThe Supertrend Strategy was created based on the Supertrend and Relative Strength Index (RSI) indicators, widely respected tools in technical analysis. This strategy combines these two indicators to capture market trends with precision and reliability, looking for optimizing exit levels at oversold or overbought price levels.
The Supertrend indicator identifies trend direction based on price and volatility by using the Average True Range (ATR). The ATR measures market volatility by calculating the average range between an asset’s high and low prices over a set period. It provides insight into price fluctuations, with higher ATR values indicating increased volatility and lower values suggesting stability. The Supertrend Indicator plots a line above or below the price, signaling potential buy or sell opportunities: when the price closes above the Supertrend line, an uptrend is indicated, while a close below the line suggests a downtrend. This line shifts as price movements and volatility levels change, acting as both a trailing stop loss and trend confirmation.
To enhance the Supertrend strategy, the Relative Strength Index (RSI) has been added as an exit criterion. As a momentum oscillator, the RSI indicates overbought (usually above 70) or oversold (usually below 30) conditions. This integration allows trades to close when the asset is overbought or oversold, capturing gains before a possible reversal, even if the percentage take profit level has not been reached. This mechanism aims to prevent losses due to market reversals before the Supertrend signal changes.
### Key Features
1. **Entry criteria**:
- The strategy uses the Supertrend indicator calculated by adding or subtracting a multiple of the ATR from the closing price, depending on the trend direction.
- When the price crosses above the Supertrend line, the strategy signals a long (buy) entry. Conversely, when the price crosses below, it signals a short (sell) entry.
- The strategy performs a reversal if there is an open position and a change in the direction of the supertrend occurs
2. **Exit criteria**:
- Take profit of 30% (default) on the average position price.
- Oversold (≤ 5) or overbought (≥ 95) RSI
- Reversal when there is a change in direction of the Supertrend
3. **No Repainting**:
- This strategy is not subject to repainting, as long as the timeframe configured on your chart is the same as the supertrend timeframe .
4. **Position Sizing by Equity and risk management**:
- This strategy has a default configuration to operate with 35% of the equity. At the time of opening the position, the supertrend line is typically positioned at about 12 to 16% of the entry price. This way, the strategy is putting at risk about 16% of 35% of equity, that is, around 5.6% of equity for each trade. The percentage of equity can be adjusted by the user according to their risk management.
5. **Backtest results**:
- This strategy was subjected to deep backtesting and operations in replay mode, including transaction fees of 0.12%, and slippage of 5 ticks.
- The past results in deep backtest and replay mode were compatible and profitable (Variable results depending on the take profit used, supertrend and RSI parameters). However, it should be noted that few operations were evaluated, since the currency in question has been created for a short time and the frequency of operations is relatively small.
- Past results are no guarantee of future results. The strategy's backtest results may even be due to overfitting with past data.
Default Settings
Chart timeframe: 2h
Supertrend Factor: 3.42
ATR period: 14
Supertrend timeframe: 2 h
RSI timeframe: 15 min
RSI Lenght: 5 min
RSI Upper limit: 95
RSI Lower Limit: 5
Take Profit: 30%
BYBIT:1000000MOGUSDT.P
Parent Session Sweeps + Alert Killzone Ranges with Parent Session Sweep
Key Features:
1. Multiple Session Support: The script tracks three major trading sessions - Asia, London, and New York. Users can customize the timing of these sessions.
2. Killzone Visualization: The strategy visually represents each session's range, either as filled boxes or lines, allowing traders to easily identify key price levels.
3. Parent Session Logic: The core of the strategy revolves around identifying a "parent" session - a session that encompasses the range of the following session. This parent session becomes the basis for potential trade setups.
4. Sweep and Reclaim Setups: The strategy looks for price movements that sweep (break above or below) the parent session's high or low, followed by a reclaim of that level. This price action often indicates a potential reversal.
5. Risk-Reward Filtering: Each potential setup is evaluated based on a user-defined minimum risk-reward ratio, ensuring that only high-quality trade opportunities are considered.
6. Candle Close Filter: An optional filter that checks the characteristics of the candle that reclaims the parent session level, adding an extra layer of confirmation to the setup.
7. Performance Tracking: The strategy keeps track of bullish and bearish setup success rates, providing valuable feedback on its performance over time.
8. Visual Aids: The script draws lines to mark the parent session's high and low, making it easy for traders to identify key levels.
How It Works:
1. The script continuously monitors price action across the defined sessions.
2. When a session fully contains the range of the next session, it's identified as a potential parent session.
3. The strategy then waits for price to sweep either the high or low of this parent session.
4. If a sweep occurs, it looks for a reclaim of the swept level within the parameters set by the user.
5. If a valid setup is identified, the script generates an alert and places a trade (if backtesting or running live).
6. The strategy continues to monitor the trade for either reaching the target (opposite level of the parent session) or hitting the stop loss.
Considerations for Signals:
- Sweep: A break of the parent session's high or low.
- Reclaim: A close back inside the parent session range after a sweep.
- Candle Characteristics: Optional filter for the reclaim candle (e.g., bullish candle for long setups).
- Risk-Reward: Each setup must meet or exceed the user-defined minimum risk-reward ratio.
- Session Timing: The strategy is sensitive to the defined session times, which should be set according to the trader's preferred time zone.
This strategy aims to capitalize on institutional order flow and liquidity patterns in the forex market, providing traders with a systematic approach to identifying potential reversal points with favorable risk-reward profiles.
Overnight Positioning w EMA - Strategy [presentTrading]I've recently started researching Market Timing strategies, and it’s proving to be quite an interesting area of study. The idea of predicting optimal times to enter and exit the market, based on historical data and various indicators, brings a dynamic edge to trading. Additionally, it is integrated with the 3commas bot for automated trade execution.
I'm still working on it. Welcome to share your point of view.
█ Introduction and How it is Different
The "Overnight Positioning with EMA " is designed to capitalize on market inefficiencies during the overnight trading period. This strategy takes a position shortly before the market closes and exits shortly after it opens the following day. What sets this strategy apart is the integration of an optional Exponential Moving Average (EMA) filter, which ensures that trades are aligned with the underlying trend. The strategy provides flexibility by allowing users to select between different global market sessions, such as the US, Asia, and Europe.
It is integrated with the 3commas bot for automated trade execution and has a built-in mechanism to avoid holding positions over the weekend by force-closing positions on Fridays before the market closes.
BTCUSD 20 mins Performance
█ Strategy, How it Works: Detailed Explanation
The core logic of this strategy is simple: enter trades before market close and exit them after market open, taking advantage of potential price movements during the overnight period. Here’s how it works in more detail:
🔶 Market Timing
The strategy determines the local market open and close times based on the selected market (US, Asia, Europe) and adjusts entry and exit points accordingly. The entry is triggered a specific number of minutes before market close, and the exit is triggered a specific number of minutes after market open.
🔶 EMA Filter
The strategy includes an optional EMA filter to help ensure that trades are taken in the direction of the prevailing trend. The EMA is calculated over a user-defined timeframe and length. The entry is only allowed if the closing price is above the EMA (for long positions), which helps to filter out trades that might go against the trend.
The EMA formula:
```
EMA(t) = +
```
Where:
- EMA(t) is the current EMA value
- Close(t) is the current closing price
- n is the length of the EMA
- EMA(t-1) is the previous period's EMA value
🔶 Entry Logic
The strategy monitors the market time in the selected timezone. Once the current time reaches the defined entry period (e.g., 20 minutes before market close), and the EMA condition is satisfied, a long position is entered.
- Entry time calculation:
```
entryTime = marketCloseTime - entryMinutesBeforeClose * 60 * 1000
```
🔶 Exit Logic
Exits are triggered based on a specified time after the market opens. The strategy checks if the current time is within the defined exit period (e.g., 20 minutes after market open) and closes any open long positions.
- Exit time calculation:
exitTime = marketOpenTime + exitMinutesAfterOpen * 60 * 1000
🔶 Force Close on Fridays
To avoid the risk of holding positions over the weekend, the strategy force-closes any open positions 5 minutes before the market close on Fridays.
- Force close logic:
isFriday = (dayofweek(currentTime, marketTimezone) == dayofweek.friday)
█ Trade Direction
This strategy is designed exclusively for long trades. It enters a long position before market close and exits the position after market open. There is no shorting involved in this strategy, and it focuses on capturing upward momentum during the overnight session.
█ Usage
This strategy is suitable for traders who want to take advantage of price movements that occur during the overnight period without holding positions for extended periods. It automates entry and exit times, ensuring that trades are placed at the appropriate times based on the market session selected by the user. The 3commas bot integration also allows for automated execution, making it ideal for traders who wish to set it and forget it. The strategy is flexible enough to work across various global markets, depending on the trader's preference.
█ Default Settings
1. entryMinutesBeforeClose (Default = 20 minutes):
This setting determines how many minutes before the market close the strategy will enter a long position. A shorter duration could mean missing out on potential movements, while a longer duration could expose the position to greater price fluctuations before the market closes.
2. exitMinutesAfterOpen (Default = 20 minutes):
This setting controls how many minutes after the market opens the position will be exited. A shorter exit time minimizes exposure to market volatility at the open, while a longer exit time could capture more of the overnight price movement.
3. emaLength (Default = 100):
The length of the EMA affects how the strategy filters trades. A shorter EMA (e.g., 50) reacts more quickly to price changes, allowing more frequent entries, while a longer EMA (e.g., 200) smooths out price action and only allows entries when there is a stronger underlying trend.
The effect of using a longer EMA (e.g., 200) would be:
```
EMA(t) = +
```
4. emaTimeframe (Default = 240):
This is the timeframe used for calculating the EMA. A higher timeframe (e.g., 360) would base entries on longer-term trends, while a shorter timeframe (e.g., 60) would respond more quickly to price movements, potentially allowing more frequent trades.
5. useEMA (Default = true):
This toggle enables or disables the EMA filter. When enabled, trades are only taken when the price is above the EMA. Disabling the EMA allows the strategy to enter trades without any trend validation, which could increase the number of trades but also increase risk.
6. Market Selection (Default = US):
This setting determines which global market's open and close times the strategy will use. The selection of the market affects the timing of entries and exits and should be chosen based on the user's preference or geographic focus.
Fibonacci Swing Trading BotStrategy Overview for "Fibonacci Swing Trading Bot"
Strategy Name: Fibonacci Swing Trading Bot
Version: Pine Script v5
Purpose: This strategy is designed for swing traders who want to leverage Fibonacci retracement levels and candlestick patterns to enter and exit trades on higher time frames.
Key Components:
1. Multiple Timeframe Analysis:
The strategy uses a customizable timeframe for analysis. You can choose between 4hour, daily, weekly, or monthly time frames to fit your preferred trading horizon. The high and low-price data is retrieved from the selected timeframe to identify swing points.
2. Fibonacci Retracement Levels:
The script calculates two key Fibonacci retracement levels:
0.618: A common level where price often retraces before resuming its trend.
0.786: A deeper retracement level, often used to identify stronger support/resistance areas.
These levels are dynamically plotted on the chart based on the highest high and lowest low over the last 50 bars of the selected timeframe.
3. Candlestick Based Entry Signals:
The strategy uses candlestick patterns as the only indicator for trade entries:
Bullish Candle: A green candle (close > open) that forms between the 0.618 retracement level and the swing high.
Bearish Candle: A red candle (close < open) that forms between the 0.786 retracement level and the swing low.
When these candlestick patterns align with the Fibonacci levels, the script triggers buy or sell signals.
4. Risk Management:
Stop Loss: The stop loss is set at 1% below the entry price for long trades and 1% above the entry price for short trades. This tight risk management ensures controlled losses.
Take Profit: The strategy uses a 2:1 risk-to-reward ratio. The take profit is automatically calculated based on this ratio relative to the stop loss.
5. Buy/Sell Logic:
Buy Signal: Triggered when a bullish candle forms above the 0.618 retracement level and below the swing high. The bot then places a long position.
Sell Signal: Triggered when a bearish candle forms below the 0.786 retracement level and above the swing low. The bot then places a short position.
The stop loss and take profit levels are automatically managed once the trade is placed.
Strengths of This Strategy:
Swing Trading Focus: The strategy is ideal for swing traders, targeting longer-term price moves that can take days or weeks to play out.
Simple Yet Effective Indicators: By only relying on Fibonacci retracement levels and basic candlestick patterns, the strategy avoids complexity while capitalizing on well-known support and resistance zones.
Automated Risk Management: The built-in stop loss and take profit mechanism ensures trades are protected, adhering to a strict 2:1 risk/reward ratio.
Multiple Timeframe Analysis: The script adapts to various market conditions by allowing users to switch between different timeframes (4hour, daily, weekly, monthly), giving traders flexibility.
Strategy Use Cases:
Retracement Traders: Traders who focus on entering the market at key retracement levels (0.618 and 0.786) will find this strategy especially useful.
Trend Reversal Traders: The strategy’s reliance on candlestick formations at Fibonacci levels helps traders spot potential reversals in price trends.
Risk Conscious Traders: With its 1% risk per trade and 2:1 risk/reward ratio, the strategy is ideal for traders who prioritize risk management in their trades.
Dual Chain StrategyDual Chain Strategy - Technical Overview
How It Works:
The Dual Chain Strategy is a unique approach to trading that utilizes Exponential Moving Averages (EMAs) across different timeframes, creating two distinct "chains" of trading signals. These chains can work independently or together, capturing both long-term trends and short-term price movements.
Chain 1 (Longer-Term Focus):
Entry Signal: The entry signal for Chain 1 is generated when the closing price crosses above the EMA calculated on a weekly timeframe. This suggests the start of a bullish trend and prompts a long position.
bullishChain1 = enableChain1 and ta.crossover(src1, entryEMA1)
Exit Signal: The exit signal is triggered when the closing price crosses below the EMA on a daily timeframe, indicating a potential bearish reversal.
exitLongChain1 = enableChain1 and ta.crossunder(src1, exitEMA1)
Parameters: Chain 1's EMA length is set to 10 periods by default, with the flexibility for user adjustment to match various trading scenarios.
Chain 2 (Shorter-Term Focus):
Entry Signal: Chain 2 generates an entry signal when the closing price crosses above the EMA on a 12-hour timeframe. This setup is designed to capture quicker, shorter-term movements.
bullishChain2 = enableChain2 and ta.crossover(src2, entryEMA2)
Exit Signal: The exit signal occurs when the closing price falls below the EMA on a 9-hour timeframe, indicating the end of the shorter-term trend.
exitLongChain2 = enableChain2 and ta.crossunder(src2, exitEMA2)
Parameters: Chain 2's EMA length is set to 9 periods by default, and can be customized to better align with specific market conditions or trading strategies.
Key Features:
Dual EMA Chains: The strategy's originality shines through its dual-chain configuration, allowing traders to monitor and react to both long-term and short-term market trends. This approach is particularly powerful as it combines the strengths of trend-following with the agility of momentum trading.
Timeframe Flexibility: Users can modify the timeframes for both chains, ensuring the strategy can be tailored to different market conditions and individual trading styles. This flexibility makes it versatile for various assets and trading environments.
Independent Trade Logic: Each chain operates independently, with its own set of entry and exit rules. This allows for simultaneous or separate execution of trades based on the signals from either or both chains, providing a robust trading system that can handle different market phases.
Backtesting Period: The strategy includes a configurable backtesting period, enabling thorough performance assessment over a historical range. This feature is crucial for understanding how the strategy would have performed under different market conditions.
time_cond = time >= startDate and time <= finishDate
What It Does:
The Dual Chain Strategy offers traders a distinctive trading tool that merges two separate EMA-based systems into one cohesive framework. By integrating both long-term and short-term perspectives, the strategy enhances the ability to adapt to changing market conditions. The originality of this script lies in its innovative dual-chain design, providing traders with a unique edge by allowing them to capitalize on both significant trends and smaller, faster price movements.
Whether you aim to capture extended market trends or take advantage of more immediate price action, the Dual Chain Strategy provides a comprehensive solution with a high degree of customization and strategic depth. Its flexibility and originality make it a valuable tool for traders seeking to refine their approach to market analysis and execution.
How to Use the Dual Chain Strategy
Step 1: Access the Strategy
Add the Script: Start by adding the Dual Chain Strategy to your TradingView chart. You can do this by searching for the script by name or using the link provided.
Select the Asset: Apply the strategy to your preferred trading pair or asset, such as #BTCUSD, to see how it performs.
Step 2: Configure the Settings
Enable/Disable Chains:
The strategy is designed with two independent chains. You can choose to enable or disable each chain depending on your trading style and the market conditions.
enableChain1 = input.bool(true, title='Enable Chain 1')
enableChain2 = input.bool(true, title='Enable Chain 2')
By default, both chains are enabled. If you prefer to focus only on longer-term trends, you might disable Chain 2, or vice versa if you prefer shorter-term trades.
Set EMA Lengths:
Adjust the EMA lengths for each chain to match your trading preferences.
Chain 1: The default EMA length is 10 periods. This chain uses a weekly timeframe for entry signals and a daily timeframe for exits.
len1 = input.int(10, minval=1, title='Length Chain 1 EMA', group="Chain 1")
Chain 2: The default EMA length is 9 periods. This chain uses a 12-hour timeframe for entries and a 9-hour timeframe for exits.
len2 = input.int(9, minval=1, title='Length Chain 2 EMA', group="Chain 2")
Customize Timeframes:
You can customize the timeframes used for entry and exit signals for both chains.
Chain 1:
Entry Timeframe: Weekly
Exit Timeframe: Daily
tf1_entry = input.timeframe("W", title='Chain 1 Entry Timeframe', group="Chain 1")
tf1_exit = input.timeframe("D", title='Chain 1 Exit Timeframe', group="Chain 1")
Chain 2:
Entry Timeframe: 12 Hours
Exit Timeframe: 9 Hours
tf2_entry = input.timeframe("720", title='Chain 2 Entry Timeframe (12H)', group="Chain 2")
tf2_exit = input.timeframe("540", title='Chain 2 Exit Timeframe (9H)', group="Chain 2")
Set the Backtesting Period:
Define the period over which you want to backtest the strategy. This allows you to see how the strategy would have performed historically.
startDate = input.time(timestamp('2015-07-27'), title="StartDate")
finishDate = input.time(timestamp('2026-01-01'), title="FinishDate")
Step 3: Analyze the Signals
Understand the Entry and Exit Signals:
Buy Signals: When the price crosses above the entry EMA, the strategy generates a buy signal.
bullishChain1 = enableChain1 and ta.crossover(src1, entryEMA1)
Sell Signals: When the price crosses below the exit EMA, the strategy generates a sell signal.
bearishChain2 = enableChain2 and ta.crossunder(src2, entryEMA2)
Review the Visual Indicators:
The strategy plots buy and sell signals on the chart with labels for easy identification:
BUY C1/C2 for buy signals from Chain 1 and Chain 2.
SELL C1/C2 for sell signals from Chain 1 and Chain 2.
This visual aid helps you quickly understand when and why trades are being executed.
Step 4: Optimize the Strategy
Backtest Results:
Review the strategy’s performance over the backtesting period. Look at key metrics like net profit, drawdown, and trade statistics to evaluate its effectiveness.
Adjust the EMA lengths, timeframes, and other settings to see how changes affect the strategy’s performance.
Customize for Live Trading:
Once satisfied with the backtest results, you can apply the strategy settings to live trading. Remember to continuously monitor and adjust as needed based on market conditions.
Step 5: Implement Risk Management
Use Realistic Position Sizing:
Keep your risk exposure per trade within a comfortable range, typically between 1-2% of your trading capital.
Set Alerts:
Set up alerts for buy and sell signals, so you don’t miss trading opportunities.
Paper Trade First:
Consider running the strategy in a paper trading account to understand its behavior in real market conditions before committing real capital.
This dual-layered approach offers a distinct advantage: it enables the strategy to adapt to varying market conditions by capturing both broad trends and immediate price action without one chain's activity impacting the other's decision-making process. The independence of these chains in executing transactions adds a level of sophistication and flexibility that is rarely seen in more conventional trading systems, making the Dual Chain Strategy not just unique, but a powerful tool for traders seeking to navigate complex market environments.
WODIsMA Strategy 3 MA Crossover & Bull-Bear Trend ConfirmationWODIsMA Strategy is a versatile trading strategy designed to leverage the strength of moving averages and volatility indicators to provide clear trading signals for both long and short positions. This strategy is suitable for traders looking for a systematic approach to trading with adjustable parameters to fit various market conditions and personal trading styles.
Key Features
Customizable Moving Averages:
The strategy allows users to select different types of moving averages (SMA, EMA, SMMA, WMA, VWMA) for short-term, mid-term, long-term, and bull-bear trend identification.
Each moving average can be customized with different lengths, sources (e.g., close, high, low), timeframes, and colors.
Position Management:
Users can specify the percentage of capital to use per trade and the percentage to close per partial exit.
The strategy supports both long and short positions with the ability to enable or disable each direction.
Volatility Filter:
Incorporates a volatility filter to ensure trades are only taken when market volatility is above a user-defined threshold, enhancing the strategy's effectiveness in dynamic market conditions.
Bull-Bear Trend Line:
Option to enable a bull-bear trend line that helps identify the overall market trend. Trades are taken based on the relationship between the long-term moving average and the bull-bear trend line.
Partial Exits and Full Close Logic:
The strategy includes logic for partial exits based on the crossing of mid-term and long-term moving averages.
Ensures that positions are fully closed when adverse conditions are detected, such as the price crossing below the bull-bear trend line.
Stop Loss Management:
Implements user-defined stop loss levels to manage risk effectively. The stop loss is dynamically adjusted based on the entry price and user input.
Detailed Description
Moving Average Calculation: The strategy calculates up to six different moving averages, each with customizable parameters. These moving averages help identify the short-term, mid-term, long-term trends, and overall market direction.
Trading Signals:
Long Signal: A long position is opened when the short-term moving average is above the long-term moving average, and the mid-term moving average crosses above the long-term moving average.
Short Signal: A short position is opened when the short-term moving average is below the long-term moving average, and the mid-term moving average crosses below the long-term moving average.
Volatility Condition: The strategy includes a volatility filter that activates trades only when volatility exceeds a specified threshold, ensuring trades are made in favorable market conditions.
Bull-Bear Trend Confirmation: When enabled, trades are filtered based on the relationship between the long-term moving average and the bull-bear trend line, adding another layer of confirmation.
Stop Loss and Exits:
The strategy manages risk by placing stop loss orders based on user-defined percentages.
Positions are partially or fully closed based on the crossing of moving averages and the relationship with the bull-bear trend line.
Originality and Usefulness
This strategy is original as it combines multiple moving averages and volatility indicators in a structured manner to provide reliable trading signals. Its versatility allows traders to adjust the parameters to match their trading preferences and market conditions. The inclusion of a volatility filter and bull-bear trend line adds significant value by reducing false signals and ensuring trades are taken in the direction of the overall market trend. The detailed descriptions and customizable settings make this strategy accessible and understandable for traders, even those unfamiliar with the underlying Pine Script code.
By providing clear entry, exit, and risk management rules, the WODIsMA Strategy enhances the trader's ability to navigate different market environments, making it a valuable addition to the TradingView community scripts.
Power Hour Money StrategyDescription of the Pine Script Code: "Power Hour Money Strategy"
This Pine Script strategy, "Power Hour Money Strategy," is designed to trade based on the alignment of multiple time frames (month, week, day, and hour). The strategy aims to enter long or short positions depending on whether all selected time frames are in sync (all green for long positions, all red for short positions). Additionally, the script includes configurations for trading during specific sessions and automatically closing positions at the end of the trading day.
Core Features:
1. Time Frame Sync Check:
- The strategy evaluates whether the current price is higher than the opening price for the month, week, day, and hour to determine if each time frame is "green" (bullish) or "red" (bearish).
2. Session Control:
- The user can select between different trading sessions:
- "NY Session 9:30-11:30"
- "Extended NY Session 8-4"
- "All Sessions"
- Trades are only executed if the current time falls within the selected session.
3. Trailing Stop Mechanism:
- The strategy includes an optional trailing stop mechanism for both long and short positions.
- The trailing stop is configured with a percentage loss from the current price to protect gains.
4. End-of-Day Position Management:
- An option is provided to automatically close all positions at the end of the trading day (5:45 PM Eastern Time).
Detailed Code Breakdown:
1. Input Settings:
- **Session Selection**: Allows the user to choose the trading session.
- **End-of-Day Close**: Option to automatically close positions at the end of the day.
- **Trailing Stop Loss**: Enables or disables the trailing stop loss feature and sets the percentage for long and short positions.
2. Time Frame Calculations:
- The script uses `request.security` to get the opening prices for higher time frames (monthly, weekly, daily, and hourly).
- It compares the current close price to these opening prices to determine if each time frame is green or red.
3. Session Time Definitions:
- Defines the start and end times for the NY session (9:30-11:30 AM) and the extended session (8:00 AM - 4:00 PM).
4. Trade Execution:
- The strategy checks if all selected time frames are in sync and if the current time falls within the trading session.
- If all conditions are met, it enters a long or short position.
5. Trailing Stop Loss Implementation:
- Adjusts the stop price based on the trailing percentage and the current position's size.
- Automatically exits positions if the trailing stop condition is met.
6. End-of-Day Close Implementation:
- Uses a timestamp to check if the current time is 5:45 PM Eastern Time.
- Closes all positions if the end-of-day condition is met.
7. Plotting and Logging:
- Plots indicators to visualize the green/red status of each time frame.
- Logs information about the status of each time frame for debugging and analysis.
Example Usage:
Entering a Long Position: If the month, week, day, and hour are all green and the current time is within the selected session, a long position is entered.
Entering a Short Position: If the month, week, day, and hour are all red and the current time is within the selected session, a short position is entered.
Trailing Stop: Protects gains by exiting the position if the price moves against the set trailing stop percentage.
End-of-Day Close: Automatically closes all open positions at 5:45 PM Eastern Time if enabled.
This strategy is particularly useful for traders who want to ensure that multiple time frames are in alignment before entering a trade and who wish to manage positions effectively throughout the trading day with specific session controls and trailing stops.
Multi Timeframe RSI Buy Sell Strategy [TradeDots]The "Multi Timeframe RSI Buy/Sell Strategy" is a trading strategy that utilizes Relative Strength Index (RSI) indicators from multiple timeframes to provide buy and sell signals.
This strategy allows for extensive customization, supporting up to three distinct RSIs, each configurable with its own timeframe, length, and data source.
HOW DOES IT WORK
This strategy integrates up to three RSIs, each selectable from different timeframes and customizable in terms of length and source. Users have the flexibility to define the number of active RSIs. These selections visualize as plotted lines on the chart, enhancing interpretability.
Users can also manage the moving average of the selected RSI lines. When multiple RSIs are active, the moving average is calculated based on these active lines' average value.
The color intensity of the moving average line changes as it approaches predefined buying or selling thresholds, alerting users to potential signal generation.
A buy or sell signal is generated when all active RSI lines simultaneously cross their respective threshold lines. Concurrently, a label will appear on the chart to signify the order placement.
For those preferring not to display order information or activate the strategy, an "Enable backtest" option is provided in the settings for toggling activation.
APPLICATION
The strategy leverages multiple RSIs to detect extreme market conditions across various timeframes without the need for manual timeframe switching.
This feature is invaluable for identifying divergences across timeframes, such as detecting potential short-term reversals within broader trends, thereby aiding traders in making better trading decisions and potentially avoiding losses.
DEFAULT SETUP
Commission: 0.01%
Initial Capital: $10,000
Equity per Trade: 60%
RISK DISCLAIMER
Trading entails substantial risk, and most day traders incur losses. All content, tools, scripts, articles, and education provided by TradeDots serve purely informational and educational purposes. Past performances are not definitive predictors of future results.
TradeDots Stochastic Z-Score
Kyrie Crossover ( @zaytradellc )Unlocking Market Dynamics: Kyrie Crossover Script by @zaytradellc
personalized trading success with the "Kyrie Crossover" script, meticulously crafted by @zaytrade. This innovative Pine Script, tailored to the birthdays of Kyrie and the script creator, combines the power of technical analysis with a touch of personalization to revolutionize your trading experience.
**Exponential Moving Average (EMA) Crossover Strategy:**
At the heart of the "Kyrie Crossover" script lies a sophisticated EMA crossover strategy. By utilizing a 10-period EMA and a 323-period EMA (symbolizing long term price action ), the strategy effectively captures market trends with precision and insight.
- **Short-Term EMA (10-period):** This EMA reacts swiftly to recent price changes, offering heightened sensitivity to short-term fluctuations. It excels in identifying immediate shifts in market sentiment, making it invaluable for pinpointing short-lived trends and potential reversal points.
- **Long-Term EMA (323-period):** In contrast, the long-term EMA provides a broader perspective by smoothing out short-term noise and focusing on longer-term trend direction. Its extended length filters out market noise effectively, providing a clear representation of the underlying trend's momentum and sustainability.
**Directional Movement Index (DMI) Metrics:**
The "Kyrie Crossover" script goes beyond traditional indicators by incorporating DMI metrics across multiple timeframes. By assessing trend strength and direction, traders gain valuable insights into market dynamics, allowing for informed decision-making.
**Simple Instructions to Profit:**
1. **Identify EMA Crossovers:** Look for instances where the short-term EMA (10-period) crosses above the long-term EMA (323-period) for a bullish signal, indicating a potential buying opportunity. Conversely, a crossover where the short-term EMA crosses below the long-term EMA signals a bearish trend and a potential selling opportunity.
2. **Confirm with DMI Metrics:** Validate EMA crossovers by checking DMI metrics across different timeframes (5 minutes, 15 minutes, 30 minutes, and 1 hour). Pay attention to color-coded indicators, with green indicating a bullish trend, red indicating a bearish trend, and white indicating no clear trend.
3. **Manage Risk:** Implement proper risk management techniques, such as setting stop-loss orders and position sizing based on your risk tolerance and trading objectives.
4. **Stay Informed:** Regularly monitor market conditions and adjust your trading strategy accordingly based on new signals and emerging trends.
Bitcoin Momentum StrategyThis is a very simple long-only strategy I've used since December 2022 to manage my Bitcoin position.
I'm sharing it as an open-source script for other traders to learn from the code and adapt it to their liking if they find the system concept interesting.
General Overview
Always do your own research and backtesting - this script is not intended to be traded blindly (no script should be) and I've done limited testing on other markets beyond Ethereum and BTC, it's just a template to tweak and play with and make into one's own.
The results shown in the strategy tester are from Bitcoin's inception so as to get a large sample size of trades, and potential returns have diminished significantly as BTC has grown to become a mega cap asset, but the script includes a date filter for backtesting and it has still performed solidly in recent years (speaking from personal experience using it myself - DYOR with the date filter).
The main advantage of this system in my opinion is in limiting the max drawdown significantly versus buy & hodl. Theoretically much better returns can be made by just holding, but that's also a good way to lose 70%+ of your capital in the inevitable bear markets (also speaking from experience).
In saying all of that, the future is fundamentally unknowable and past results in no way guarantee future performance.
System Concept:
Capture as much Bitcoin upside volatility as possible while side-stepping downside volatility as quickly as possible.
The system uses a simple but clever momentum-style trailing stop technique I learned from one of my trading mentors who uses this approach on momentum/trend-following stock market systems.
Basically, the system "ratchets" up the stop-loss to be much tighter during high bearish volatility to protect open profits from downside moves, but loosens the stop loss during sustained bullish momentum to let the position ride.
It is invested most of the time, unless BTC is trading below its 20-week EMA in which case it stays in cash/USDT to avoid holding through bear markets. It only trades one position (no pyramiding) and does not trade short, but can easily be tweaked to do whatever you like if you know what you're doing in Pine.
Default parameters:
HTF: Weekly Chart
EMA: 20-Period
ATR: 5-period
Bar Lookback: 7
Entry Rule #1:
Bitcoin's current price must be trading above its higher-timeframe EMA (Weekly 20 EMA).
Entry Rule #2:
Bitcoin must not be in 'caution' condition (no large bearish volatility swings recently).
Enter at next bar's open if conditions are met and we are not already involved in a trade.
"Caution" Condition:
Defined as true if BTC's recent 7-bar swing high minus current bar's low is > 1.5x ATR, or Daily close < Daily 20-EMA.
Trailing Stop:
Stop is trailed 1 ATR from recent swing high, or 20% of ATR if in caution condition (ie. 0.2 ATR).
Exit on next bar open upon a close below stop loss.
I typically use a limit order to open & exit trades as close to the open price as possible to reduce slippage, but the strategy script uses market orders.
I've never had any issues getting filled on limit orders close to the market price with BTC on the Daily timeframe, but if the exchange has relatively low slippage I've found market orders work fine too without much impact on the results particularly since BTC has consistently remained above $20k and highly liquid.
Cost of Trading:
The script uses no leverage and a default total round-trip commission of 0.3% which is what I pay on my exchange based on their tier structure, but this can vary widely from exchange to exchange and higher commission fees will have a significantly negative impact on realized gains so make sure to always input the correct theoretical commission cost when backtesting any script.
Static slippage is difficult to estimate in the strategy tester given the wide range of prices & liquidity BTC has experienced over the years and it largely depends on position size, I set it to 150 points per buy or sell as BTC is currently very liquid on the exchange I trade and I use limit orders where possible to enter/exit positions as close as possible to the market's open price as it significantly limits my slippage.
But again, this can vary a lot from exchange to exchange (for better or worse) and if BTC volatility is high at the time of execution this can have a negative impact on slippage and therefore real performance, so make sure to adjust it according to your exchange's tendencies.
Tax considerations should also be made based on short-term trade frequency if crypto profits are treated as a CGT event in your region.
Summary:
A simple, but effective and fairly robust system that achieves the goals I set for it.
From my preliminary testing it appears it may also work on altcoins but it might need a bit of tweaking/loosening with the trailing stop distance as the default parameters are designed to work with Bitcoin which obviously behaves very differently to smaller cap assets.
Good luck out there!
Inside Candle StrategyIntroduction
The Inside Candle Breakout Strategy leverages the concept of inside candles as a primary signal for potential breakouts. Unlike common trend-following or scalping strategies, this method focuses on the volatility squeeze indicated by inside candles and aims to capture the momentum that follows these periods of consolidation. The strategy's originality lies in its specific integration of timeframes for signal detection and its application across diverse market conditions without relying on conventional trend indicators.
Strategy Description and Mechanics
Inside Candle Identification: At the heart of this strategy is the detection of inside candles, defined as candles fully contained within the range of the preceding candle. This pattern signifies a temporary balance between buyers and sellers, often preceding significant price movements. The strategy scans for these candles within a user-specified timeframe in the input section of the settings of the strategy, allowing for tailored signal generation based on individual trading preferences.
Entry Points and Market Entries: Upon identifying an inside candle and only once this candle closes, the strategy prepares to enter a trade in the direction of the breakout. Trades are executed in the timeframe selected on the chart, ensuring that entry points are aligned with real-time market movements. This process highlights the strategy's adaptability, making it suitable for various trading styles, from day trading to swing trading.
Overlay Indicator for Enhanced Market Analysis: Accompanying the breakout signals is an overlay indicator comprising two moving averages and a volatility cloud. This feature serves as a secondary tool for market analysis, offering insights into the prevailing market trend and volatility levels. While it doesn't influence the entry or exit signals directly, it provides traders with additional context for refining their decisions, enhancing the strategy's utility. This assistance tool is composed by one moving average and a second line which is calculated adding or subtracting the historical volatility of the asset on the moving average, depending on his momentum.
Strategy Results and Commitment to Realism
Backtesting Protocol: In our commitment to transparency and realism, backtesting results are derived from a dataset that ensures a sufficient number of trades (over 100) to validate the strategy's effectiveness. This approach underscores our dedication to providing traders with reliable and actionable insights.
Risk Management and Trade Sizing: Recognizing the importance of sustainable trading practices, the strategy incorporates strict risk management guidelines. Trades are sized to ensure that only a small percentage of equity is risked on a single trade, adhering to widely accepted risk tolerance levels. The initial account size for this script is set to 10000$.
Strategy Defaults and Justification: The default properties of the strategy, including the risk-reward ratio, average length for moving averages, and other parameters, are carefully chosen based on extensive testing and analysis. These settings represent a balanced approach, aiming to optimize the strategy's performance across a variety of market conditions.
Strategy Components:
- Inside Candles: An inside candle occurs when a candle's high and low are completely contained within the high and low of the previous candle. This pattern indicates a period of consolidation or indecision in the market, often preceding a significant price movement. The strategy detects inside candles based on the user-selected timeframe, allowing traders to capture potential breakouts.
Indicator Overlays:
- Moving Average: A simple moving average (SMA) is calculated over a user-defined length (`Average Length`), providing a dynamic baseline to gauge the market's direction. The strategy offers an option (`Show Moving Average`) to display or hide this moving average on the chart, giving traders control over the visual complexity.
- Volatility Measurement: Alongside the moving average, the strategy assesses market volatility using the standard deviation of the closing prices over the same period defined by the `Average Length`. The moving average is adjusted upwards or downwards by this volatility measure, creating a dynamic channel that reflects the current market conditions.
- Color Gradients for Volatility: The strategy uses a color gradient to fill the area between the moving average and its volatility-adjusted counterpart. This gradient visually represents the volatility level, transitioning from gray (low volatility) to a lighter shade (higher volatility), aiding in the assessment of market sentiment and volatility.
Trading Entries:
- Long Entry: A long position is triggered when the closing price exceeds the high of an inside candle, indicating potential bullish momentum. The strategy places a stop-loss at the low of the inside candle and sets a take-profit level based on the predefined risk-reward ratio (`RR Ratio`).
- Short Entry: Conversely, a short position is initiated when the closing price falls below the low of an inside candle, suggesting bearish pressure. A stop-loss is set at the high of the inside candle, with the take-profit level adjusted according to the risk-reward ratio.
Customization Settings:
- Timeframe: Traders can select the desired timeframe for inside candle detection, tailoring the strategy to fit various trading styles and time horizons.
- RR Ratio: The risk-reward ratio is adjustable, allowing traders to manage the potential risk and return of each trade according to their risk tolerance.
- Average Length: This setting determines the period over which the moving average and volatility are calculated, affecting the sensitivity of the strategy to price movements.
- Visual Settings: Users can customize the appearance of the strategy on their charts, including the colors of the moving average and volatility lines, as well as the line width, enhancing chart readability and personal preference adherence.
Disclaimer
Trading involves significant risk, and it is crucial for traders to conduct their own due diligence before engaging with any strategy. The Inside Candle Breakout Strategy is presented for informational purposes only and does not constitute financial advice.
Triple MA HTF strategy - Dynamic SmoothingThe triple MA strategy is a simple but effective method to trade the trend. The advantage of this script over the existing triple MA strategies is that the user can open a lower time frame chart and select higher time frame inputs for different MA types mainting the visibility on the chart. The dynamic smoothing code makes sure the HTF trendlines are not jagged, but a fluid line visiable on the lower time frame chart. The script comes with a MA crossover and crossunder strategy explained below.
Moving Averages (MA) Crossover for Entry:
Long Entry: A long entry signal is triggered when the moving average line 1 crosses above the moving average line 2. This crossover indicates a potential shift in market sentiment towards the upside. However, to validate this signal, the strategy checks if the moving average 3 on a higher time frame (eg. 4 hour) is in an upward trend. This additional filter ensures that the trade aligns with the prevailing trend on a broader time scale, increasing the probability of success.
Short Entry: Conversely, a short entry signal occurs when the moving average line 1 crosses below the moving average line 2. This crossover suggests a possible downturn in market momentum. However, for a short trade to be confirmed, the strategy verifies that the moving average 3 on the higher time frame is in a downward trend. This confirmation ensures that the trade is in harmony with the overarching market direction.
Exit from Long Position: The strategy triggers an exit signal from a long position when the moving average line 1 crosses below the moving average line 2. This crossover indicates a potential reversal in the market trend, prompting the trader to close their long position and take profits or minimize losses.
Exit from Short Position: Similarly, an exit signal from a short position occurs when the moving average line 1 crosses above the moving average line 2. This crossover suggests a potential shift in market sentiment towards the upside, prompting the trader to exit their short position and manage their risk accordingly.
Features of the script
This Triple MA Strategy is basically the HTF Trend Filter displayed 3 times on the chart. For more infomation on how the MA with dynamic smoothing is calculated I recommend reading the following script:
For risk management I included a simple script to opt for % of eauity or # of contracts of in the instrument. For explanation on how the risk management settings work I refer to my ealier published script:
The strategy is a simplified example for setting up an entry and exit logic based on multiple moving avarages. Hence the script is meant for educational purposes only.
Heatmap MACD Strategy - Pineconnector (Dynamic Alerts)Hello traders
This script is an upgrade of this template script.
Heatmap MACD Strategy
Pineconnector
Pineconnector is a trading bot software that forwards TradingView alerts to your Metatrader 4/5 for automating trading.
Many traders don't know how to dynamically create Pineconnector-compatible alerts using the data from their TradingView scripts.
Traders using trading bots want their alerts to reflect the stop-loss/take-profit/trailing-stop/stop-loss to breakeven options from your script and then create the orders accordingly.
This script showcases how to create Pineconnector alerts dynamically.
Pineconnector doesn't support alerts with multiple Take Profits.
As a workaround, for 2 TPs, I had to open two trades.
It's not optimal, as we end up paying more spreads for that extra trade - however, depending on your trading strategy, it may not be a big deal.
TradingView Alerts
1) You'll have to create one alert per asset X timeframe = 1 chart.
Example : 1 alert for EUR/USD on the 5 minutes chart, 1 alert for EUR/USD on the 15-minute chart (assuming you want your bot to trade the EUR/USD on the 5 and 15-minute timeframes)
2) For each alert, the alert message is pre-configured with the text below
{{strategy.order.alert_message}}
Please leave it as it is.
It's a TradingView native variable that will fetch the alert text messages built by the script.
3) Don't forget to set the webhook URL in the Notifications tab of the TradingView alerts UI.
EA configuration
The Pyramiding in the EA on Metatrader must be set to 2 if you want to trade with 2 TPs => as it's opening 2 trades.
If you only want 1 TP, set the EA Pyramiding to 1.
Regarding the other EA settings, please refer to the Pineconnector documentation on their website.
Logger
The Pineconnector commands are logged in the TradingView logger.
You'll find more information about it from this TradingView blog post
Important Notes
1) This multiple MACDs strategy doesn't matter much.
I could have selected any other indicator or concept for this script post.
I wanted to share an example of how you can quickly upgrade your strategy, making it compatible with Pineconnector.
2) The backtest results aren't relevant for this educational script publication.
I used realistic backtesting data but didn't look too much into optimizing the results, as this isn't the point of why I'm publishing this script.
3) This template is made to take 1 trade per direction at any given time.
Pyramiding is set to 1 on TradingView.
The strategy default settings are:
Initial Capital: 100000 USD
Position Size: 1 contract
Commission Percent: 0.075%
Slippage: 1 tick
No margin/leverage used
For example, those are realistic settings for trading CFD indices with low timeframes but not the best possible settings for all assets/timeframes.
Concept
The Heatmap MACD Strategy allows selecting one MACD in five different timeframes.
You'll get an exit signal whenever one of the 5 MACDs changes direction.
Then, the strategy re-enters whenever all the MACDs are in the same direction again.
It takes:
long trades when all the 5 MACD histograms are bullish
short trades when all the 5 MACD histograms are bearish
You can select the same timeframe multiple times if you don't need five timeframes.
For example, if you only need the 30min, the 1H, and 2H, you can set your timeframes as follow:
30m
30m
30m
1H
2H
Risk Management Features
All the features below are pips-based.
Stop-Loss
Trailing Stop-Loss
Stop-Loss to Breakeven after a certain amount of pips has been reached
Take Profit 1st level and closing X% of the trade
Take Profit 2nd level and close the remaining of the trade
Custom Exit
I added the option ON/OFF to close the opened trade whenever one of the MACD diverges with the others.
Help me help the community
If you see any issue when adding your strategy logic to that template regarding the orders fills on your Metatrader, please let me know in the comments.
I'll use your feedback to make this template more robust. :)
What's next?
I'll publish a more generic template built as a connector so you can connect any indicator to that Pineconnector template.
Then, I'll publish a template for Capitalise AI, ProfitView, AutoView, and Alertatron.
Thank you
Dave
