D-Bot Alpha RSI Breakout StrategyHello dear Traders,
Here is a simple yet effective strategy to use, for best profit higher time frame, such as daily.
Structure of the code
The code defines inputs for SMA (simple moving average) length, RSI (relative strength index) length, RSI entry level, RSI stop loss level, and RSI take profit level. The default values of these variables can be customized as per the user's preferences.
The script calculates SMA and RSI based on the input parameters and the closing price of the asset.
Trading logic
This strategy allows the placement of a long position when:
The RSI crosses above the RSI entry level and
The close price is above the SMA value.
After entering a long position, it applies a trailing stop mechanism. The stop price is updated to the close price if the close price is lower than the last close price.
The script closes the long position when:
RSI falls below the stop loss level.
RSI reaches or exceeds the take profit level.
If the trailing stop is activated (once RSI reaches or exceeds the take profit level), the closing price falls below the trailing stop level.
Strengths
The strategy includes mechanisms for entering a position, taking profit, and stopping losses, which are fundamental aspects of a trading strategy.
It applies a trailing stop mechanism that allows to capture further gains if the price keeps increasing while protecting from losses if the price starts to decrease.
Weaknesses
This strategy only contemplates long positions. Depending on the market situation, the strategy may miss opportunities for short selling when the market is on a downward trend.
The choice of the fixed RSI entry, stop loss, and take profit levels may not be ideal for all market conditions or assets. It might benefit from a more adaptive mechanism that adjusts these levels according to market volatility or trend.
The strategy doesn't factor in trading costs (such as spread or commission), which could have a significant impact on the net profit, especially if the user is trading with a high frequency or in a low liquidity market.
How to trade with this strategy
Given these parameters and the strategy outlined by the code, the trader would enter a long position when the RSI crosses above the RSI entry level (default 34) and the closing price is above the SMA value (SMA calculated with default period of 200). The trader would exit the position when either the RSI falls below the RSI stop loss level (default 30), or RSI rises above the RSI take profit level (default 50), or when the trailing stop is hit.
Remember "The strategies I have prepared are entirely for educational purposes and should not be considered as investment advice. Support your trades using other tools. Wishing everyone profitable trades..."
在腳本中搜尋"stop loss"
Pure Morning 2.0 - Candlestick Pattern Doji StrategyThe new "Pure Morning 2.0 - Candlestick Pattern Doji Strategy" is a trend-following, intraday cryptocurrency trading system authored by devil_machine.
The system identifies Doji and Morning Doji Star candlestick formations above the EMA60 as entry points for long trades.
For best results we recommend to use on 15-minute, 30-minute, or 1-hour timeframes, and are ideal for high-volatility markets.
The strategy also utilizes a profit target or trailing stop for exits, with stop loss set at the lowest low of the last 100 candles. The strategy's configuration details, such as Doji tolerance, and exit configurations are adjustable.
In this new version 2.0, we've incorporated a new selectable filter. Since the stop loss is set at the lowest low, this filter ensures that this value isn't too far from the entry price, thereby optimizing the Risk-Reward ratio.
In the specific case of ALPINE, a 9% Take-Profit and and Stop-Loss at Lowest Low of the last 100 candles were set, with an activated trailing-stop percentage, Max Loss Filter is not active.
Name : Pure Morning 2.0 - Candlestick Pattern Doji Strategy
Author : @devil_machine
Category : Trend Follower based on candlestick patterns.
Operating mode : Spot or Futures (only long).
Trades duration : Intraday
Timeframe : 15m, 30m, 1H
Market : Crypto
Suggested usage : Short-term trading, when the market is in trend and it is showing high volatility .
Entry : When a Doji or Morning Doji Star formation occurs above the EMA60.
Exit : Profit target or Trailing stop, Stop loss on the lowest low of the last 100 candles.
Configuration :
- Doji Settings (tolerances) for Entry Condition
- Max Loss Filter (Lowest Low filter)
- Exit Long configuration
- Trailing stop
Backtesting :
⁃ Exchange: BINANCE
⁃ Pair: ALPINEUSDT
⁃ Timeframe: 30m
⁃ Fee: 0.075%
⁃ Slippage: 1
- Initial Capital: 10000 USDT
- Position sizing: 10% of Equity
- Start: 2022-02-28 (Out Of Sample from 2022-12-23)
- Bar magnifier: on
Disclaimer : Risk Management is crucial, so adjust stop loss to your comfort level. A tight stop loss can help minimise potential losses. Use at your own risk.
How you or we can improve? Source code is open so share your ideas!
Leave a comment and smash the boost button!
Thanks for your attention, happy to support the TradingView community.
Price Action - Support & Resistance + MACD LONG StrategyUsing "Price Action - Support & Resistance by DGT" and the MACD (Moving Average Convergence Divergence) indicator in TradingView can help develop a trade strategy. Here's a step-by-step approach you can follow:
1. Identifying Support and Resistance Levels: Apply the "Price Action - Support & Resistance by DGT" indicator to your chart. This indicator helps you identify key support and resistance levels based on price action. These levels act as potential areas where the price may reverse or consolidate.
2. Confirming Support and Resistance Levels: Once the indicator has plotted support and resistance levels on your chart, analyze the historical price action around these levels. Look for multiple touches or bounces from the same level, which adds strength to the support or resistance zone.
3. Analyzing the MACD Indicator: Add the MACD indicator to your chart. The MACD consists of two lines: the MACD line and the signal line, along with a histogram representing the difference between the two lines. The MACD helps identify momentum and potential trend reversals.
When the MACD line crosses above the signal line and the histogram turns positive, it suggests bullish momentum.
4. Identifying Trade Opportunities:
Bullish Trade: Look for a bullish setup when the price approaches a strong support level identified by the "Price Action - Support & Resistance by DGT" indicator. Wait for the MACD lines to cross above the signal line and the histogram to turn positive, indicating bullish momentum. Enter a long position with a stop loss below the
support level.
Managing the Trade: Once you enter a trade, consider setting a target based on the distance between your entry point and the nearest significant support or resistance level. You can also use trailing stop losses or other risk management techniques to protect your profits and limit potential losses.
Remember that no trading strategy is guaranteed to be successful, and it's important to practice proper risk management and conduct thorough analysis before making any trading decisions. Additionally, it's recommended to backtest and demo trade this strategy before using it with real money.
PlurexSignalStrategyLibrary "PlurexSignalStrategy"
Provides functions that wrap the built in TradingView strategy functions so you can seemlessly integrate with Plurex Signal automation.
NOTE: Be sure to:
- set your strategy default_qty_value to the default entry percentage of your signal
- set your strategy default_qty_type to strategy.percent_of_equity
- set your strategy pyramiding to some value greater than 1 or something appropriate to your strategy in order to have multiple entries.
long(secret, budgetPercentage, priceLimit, marketOverride)
Open a new long entry. Wraps strategy function and sends plurex message as an alert.
Parameters:
secret : The secret for your Signal on plurex
budgetPercentage : Optional, The percentage of budget to use in the entry.
priceLimit : Optional, The worst price to accept for the entry.
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
longAndFixedStopLoss(secret, stop, budgetPercentage, priceLimit, marketOverride)
Open a new long entry. Wraps strategy function and sends plurex message as an alert. Also sets a gobal stop loss for full open position
Parameters:
secret : The secret for your Signal on plurex
stop : The trigger price for the stop loss. See strategy.exit documentation
budgetPercentage : Optional, The percentage of budget to use in the entry.
priceLimit : Optional, The worst price to accept for the entry.
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
longAndTrailingStopLoss(secret, trail_offset, trail_price, trail_points, budgetPercentage, priceLimit, marketOverride)
Open a new long entry. Wraps strategy function and sends plurex message as an alert. Also sets a gobal trailing stop loss for full open position. You must set one of trail_price or trail_points.
Parameters:
secret : The secret for your Signal on plurex
trail_offset : See strategy.exit documentation
trail_price : See strategy.exit documentation
trail_points : See strategy.exit documentation
budgetPercentage : Optional, The percentage of budget to use in the entry.
priceLimit : Optional, The worst price to accept for the entry.
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
short(secret, budgetPercentage, priceLimit, marketOverride)
Open a new short entry. Wraps strategy function and sends plurex message as an alert.
Parameters:
secret : The secret for your Signal on plurex
budgetPercentage : Optional, The percentage of budget to use in the entry.
priceLimit : Optional, The worst price to accept for the entry.
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
shortAndFixedStopLoss(secret, stop, budgetPercentage, priceLimit, marketOverride)
Open a new short entry. Wraps strategy function and sends plurex message as an alert. Also sets a gobal stop loss for full open position
Parameters:
secret : The secret for your Signal on plurex
stop : The trigger price for the stop loss. See strategy.exit documentation
budgetPercentage : Optional, The percentage of budget to use in the entry.
priceLimit : Optional, The worst price to accept for the entry.
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
shortAndTrailingStopLoss(secret, trail_offset, trail_price, trail_points, budgetPercentage, priceLimit, marketOverride)
Open a new short entry. Wraps strategy function and sends plurex message as an alert. Also sets a gobal trailing stop loss for full open position. You must set one of trail_price or trail_points.
Parameters:
secret : The secret for your Signal on plurex
trail_offset : See strategy.exit documentation
trail_price : See strategy.exit documentation
trail_points : See strategy.exit documentation
budgetPercentage : Optional, The percentage of budget to use in the entry.
priceLimit : Optional, The worst price to accept for the entry.
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
closeAll(secret, marketOverride)
Close all positions. Wraps strategy function and sends plurex message as an alert.
Parameters:
secret : The secret for your Signal on plurex
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
closeLongs(secret, marketOverride)
close all longs. Wraps strategy function and sends plurex message as an alert.
Parameters:
secret : The secret for your Signal on plurex
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
closeShorts(secret, marketOverride)
close all shorts. Wraps strategy function and sends plurex message as an alert.
Parameters:
secret : The secret for your Signal on plurex
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
closeLastLong(secret, marketOverride)
Close last long entry. Wraps strategy function and sends plurex message as an alert.
Parameters:
secret : The secret for your Signal on plurex
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
closeLastShort(secret, marketOverride)
Close last short entry. Wraps strategy function and sends plurex message as an alert.
Parameters:
secret : The secret for your Signal on plurex
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
closeFirstLong(secret, marketOverride)
Close first long entry. Wraps strategy function and sends plurex message as an alert.
Parameters:
secret : The secret for your Signal on plurex
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
closeFirstShort(secret, marketOverride)
Close first short entry. Wraps strategy function and sends plurex message as an alert.
Parameters:
secret : The secret for your Signal on plurex
marketOverride : Optional, defaults to the syminfo for the ticker. Use the `plurexMarket` function to build your own.
Joker Trailing TP BotTrailing Take Profit is used by the traders to increase their gains when the prices moves in a favorable direction. Let’s have a look at what is Trailing Take Profit and how it works.
What Is a Trailing Take Profit?
Trailing Take Profit is a term largely used in crypto, whereas you may encounter the term Trailing Stop in traditional trading describing almost the same thing, So what’s the difference between Trailing Take Profit and Trailing Stop? Trailing Stop is a type of Stop Loss automatically moving in the same direction as the asset’s price. Trailing Take Profit is nothing else than Trailing Stop activated after initial Take Profit is reached.
The main difference between these two is that Trailing Take Profit takes the profit in any case (altough it might be later annihilated by Trailing Stop). Thus, Trailing Take Profit reduces the risks that might’ve occurred using Trailing Stop alone. Trailing Take Profit is bound to the maximum of Take Profit price instead of just a price increase/decrease.
As you might notice, the terms Trailing Take Profit and Stop Loss are quite similar. To avoid confusion, in this article we will be talking about Trailing Take Profit as defined above.
Trailing Take Profit only moves in one direction. It is designed to lock in profit and limit losses. The trailing profit only moves up (in case of a long strategy) once the price has surpassed previous high and a new high has been established. If the trailing take profit moves up, it cannot move back down, thus securing the profit and preventing losses.
Trailing Take Profit allows the trade to remain open and continue to profit as long as the price is moving in the investor’s favor. If the price changes direction and the change surpasses the previously set percentage the order will be closed.
How Does it Work?
For example if you buy BTC at the price of 10000, if you set a Take Profit at 11000 and a Trailing Take Profit at 5% :
If the price goes up to 10500, nothing happens because the Take Profit at 11000 has not been reached.
Then if the BTC price goes up top 11000, a Stop Order at 10450 will be set.
Then if the BTC price goes down to 10500, the Stop Order stays at 104500.
Then if the BTC price goes up to 12000, the Stop Order moves to 11400.
Then if the BTC price goes down to 11000, the Stop Order at 11400 is executed.
You see that without Trailing Take Profit, the buy order would have been sold at 11000. Thus, a trader would miss an earning opportunity at 11400.
Cipher B divergencies for Crypto (Finandy support)Hello Traders!
In times of high volatility, it is important to follow a market-neutral strategy to protect your hard-earned assets. The simple script employs common buy/sell and/or divergencies signals from the VuManChu Cipher B indicator with fixed stop losses and takes profits. The signals are filtered by a local trend of a coin of interest and the global trend of Bitcoin. These trends-filtered signals demonstrated better performance on most of the back- and forward- tests for USDT cryptocurrency futures. The strategy is based on my real experience, it's a diamond I want to share with you.
In terms of visualization if the background is red and the price is below the yellow line then only a short position can be opened. Conversely, if the price is above the yellow line AND the background is green only a long position can be opened.
Inputs from VuManChu you can find on the top. Frankly, I do not know how they can help you to improve the performance of the strategy. My inputs of the script you can find in "Trend Settings" and "TP/SL Settings" at the bottom.
The checkbox "Only divergencies" lets to broadcast only more reliable buy/sell signals for a cost of rare deals.
The checkbox "Cancel all positions if price crosses local sma?" makes additional trailing stop loss. Usually, this function increases the win rate by "smoothing" the risk/reward ratio, as a usual stop loss does.
You can tune SL/TP based on backtesting.
To connect the script to Finandy just edit "name" and "secret" to connect your webhook (see the bottom of the script).
The rule of thumb for the strategy is "only divergencies" - ON, high reward/risk (TP/SL) ratio, 5 min timeframe on chart help with performance.
Finally, I am looking forward to feedback from you. If you have some cool features for my script in your mind, do not hesitate to leave them in the comments.
Good luck!
[DisDev] 12 Candle|Round#|Future SessionsThis indicator has many components; below, each component is explained and how it can be used as a trading tool.
1) Future Lines
a. Vertical lines are projected into the future to mark the beginning of each of the three major markets, Tokyo, London, and New York.
b. When major markets open, this can cause an increase in price action. So this component provides the trader with a reminder of when the next major market opens.
c. Also, the days of the week are displayed to allow the user to backtest price reaction for certain days of the week easily (e.g., Major Markets reopening after the weekend).
2) 12 Hour Candle Sessions High and Low
a. As price intersects with the beginning of the session, the vertical line disappears, and two corresponding horizontal lines begin. These horizontal lines dynamically adjust to mark each session's high and low, and a semi-transparent box fills the space between the high and low lines.
b. The duration of each session is a three-hour window, which each consists of 12 Fifteen-Minute Candles. This marks the hour prior to equity markets open, the opening hour, and the post-open hour.
c. The sessions highs and lows can be selected within the settings show for a 24 hour period. This assists the trader with session range breakouts; three examples of how this could be traded are below.
Example 1
d. The Tokyo and London session high kept the price action within a range. Once it broke the range, the Tokyo and London session highs were used as support, resulting in a range breakout.
Example 2
e. The below picture shows price action failing to break London Session Low and New York Session High; this is followed by Tokyo Low acting as resistance and price moving down 9%.
Example 3
f. Below price action with an increased volume of 323% (based on the average of the last 10 bar) fails to break the Tokyo High on the 1st attempt. The second attempt fails on 241% volume. The third attempt at 475% breaks the range, completing the range breakout seeing a move of 3.4% in price.
4) High of Day (HOD) and Low of Day (LOD)
a. As the trading day unfolds, we mark the HOD (d-High) and LOD (d-Low) with blue dotted horizontal lines. Then at the start of the next trading day, the former High and Low become the Previous Day High (pd-High) and Low (pd-Low) and are changed to dashes.
b. These high and low levels add extra confluence with the session high and lows for Swing Failure Patterns (SFP) and confirmation of trends.
5) Round Numbers
a. As humans, it's hard to use just any number to make sense of things. We prefer to use round numbers. This is important for trading as many traders will automatically use round numbers as their stop losses.
b. This indicator component reminds users of this fact and displays round numbers such as 00, 25, 50, and 75. The indicator automatically calculates and displays lines for the round numbers for as many as twelve levels above and below the current price.
c. Below are examples of how round numbers are broken to trigger stop losses; you may want to break the habit of using round numbers as your stop losses.
Below is the indicator in full swing, displaying all the elements described above.
Day Trading SPYThis script can be used to see a potential trend change, ride a trend and to scalp following the current trend.
Indicators:
- ATR (bright green/maroon) – is a longer term trend ATR line
- MA (green/red) - is a shorter term MA, where the fast MA is dotted and the long MA is a line
- Support and Resistance (white bold line) – long-term support and resistance areas
- Scalping signals (red/green) – small triangles above/below the candles bouncing off fast MA
- Black candles - oversized huge candles, which must be addressed carefully, especially when these candles change the trend per ATR, as with such huge candle – it is hard to determine where to place the stop-loss (if it is above/below the candle, since the candle is so big - it becomes a big risk). Also such candles may point to an unusual market moves. The size can be adjusted from 0.1 and up, it’s set to 1.4 by default, but it can be changed as needed. With such candles, it is best to wait and see what market does. If the black candle is following the ATR trend or changing the trend per ATR – wait for next 1-3 candles or so, usually those re-bounce in the opposite direction of the ATR trend, which allows you to open the position with a tighter stop-loss.
- Olive and Maroon candles – overbought and oversold candles per RSI (80/15 default) levels. At this levels just watch out for a potential soon reversal. Keep in mind, price may continue going oversold/overbought for a while, so look for additional confirmations.
1) ATR (long-term trend): The flag “Buy” and “Sell” signals (can set Alerts), which happens when the price is crossing through ATR line, marking a potential trend change. If ATR matches MA and ideally there is a breakout - open position in the direction of the signal and use the ATR line as your initial hard stop-loss until you reach the first price target / take first profit. It is best to use the most recent high/low pivot or a Fibonacci extension for the first price target. Once you take it – move SL to entry to secure the profits. If the trend continues and you take the next price target, you can use the fastMA (dotted line) as your dynamic stop-loss to ride the trend. Use the bold white line (long-term support and resistance) where price may certainly reverse where you can close your position completely if you day-trading Options.
2) MA (scalping): The small green and red triangles below/above the bars (can set Alerts), which appear when the price “touches” the fast MA (dotted line) and re-bounces from it with the candle matching the direction (bullish/bearish). Make sure ATR and MA are both going in the same direction for best results. This can be used to scalp for small profits or to jump into the trend. To minimize the risk, since you are jumping into the trend, I suggest placing your stop-loss slightly above/below the candle (the one which bounced off the fast MA). Price targets are similar – most recent high/low pivot or a Fibonacci extension. Same way, once you take the first profit/reach the first price target, move SL to entry and on the next price target – use the fast MA as your dynamic stop-loss.
If you don’t know how to divide up your position - here is an example on how I take profits between the price targets:
- Open position with buying a multiple of x4 contracts
- Sell ½ of the position at first price target and move my SL to entry
- Sell ½ of the remaining position at a second price target
- Sell the rest of the position at the third price target or sell ½ of it and use the fast MA as my dynamic stop-loss for the remaining of the position
Also, keep an eye on the breakouts, especially if they go along the ATR and MA trend and keep an eye on the volume, which may help confirming the direction of the price.
HPH's FractalTradesThis indicator is based on some dark fractal magic.
Not really, it's inspired by Vladimir Poltoratskiy and basically just waits for the price to go higher or lower than a previous fractal. If that's the case and all the additional settings allow the trade to take place, it is entered with the stop loss at the last opposite fractal of were it was entered (so if we enter a trade because the price went higher than the last up fractal, the sl is at the last down fractal).
The trades are visualised with a stop loss and 3 take profits levels (at a 1:1, 2,1:1 and 4:1 risk/reward ratio). The stop loss will trail once a certain take profit level is reached. Enjoy!
The settings:
LiveVersion : If ticked it will use close for stop losses and take profits. If unticked high and low will be used. Neither is accurate when backtesting as there is no intrabar data...
CancelEarly : Swings trade in the opposite direction when an opposite signal is received. If unticked the trade will continue until a tp or sl is hit.
ShowStats : Show a table in the top right displaying how many times the stop losses or take profits got hit.
FractalPeriods : Number of bars that are required for a fractal. E.g. if it's 2, 2 bars need to be lower on the left and right of a candle for it to print an up fractal.
MinFractalDiv : If this is bigger than 0, it will not allow new fractals to print unless they are at least a percentage based amount bigger than the last one. So this can be used to filter out fractals that are in the same range. Bigger value = more aggressive filtering!
TicksOnFractal : Tick based offset to add onto the fractals to enter trades. E.g. if it's 5 and the price goes above an up fractal, it needs to go up 5 more ticks to enter a trade.
UseFilter, FilterMultMin and FilterMultMax : If ticked, trades are limited to the once in the specified range (distance of the stop loss). E.g. if FilterMultMax is 0.05, the stop loss can not be bigger than 5% of the assets price for the trade to take place.
MACD + CMF + EMA + Supertrend by TradeSmartHello everyone and welcome to our first script release!
This script is one of many upcoming scripts. This one is a test for us, how it works, how you guys like this kind of stuff, and for feedback what we should change/improve at.
SCRIPT IS OPTIMIZED FOR:
EUR/USD 30 MINUTE TIMEFRAME
Video of the Strategy:
Search for “MACD + CMF + 200 EMA + Supertrend Trading Strategy Tested 100 Times with Great Results!” on our channel.
In this video you can find the exact strategy we programmed, just one added feature: Supertrend trailing stop loss. (position gets closed once the price hits the Supertrend indicator)
Now you can modify the following:
MACD settings
Supertrend settings
EMA settings
CMF settings
We will update the script with more and more features.
The first update will be:
Modifiable risk to reward ratio.
I will make a video of how to use this indicator next week, explaining all the features and more!
Hope you like it! Don't forget to let us know what we should change or improve. Thanks, and have a great day!
STRATEGY ENTRY RULES
LONG
When CMF is above 0 and price is under EMA. Also MACD has made a double cross above the zero line (meaning one cross down and one cross up by the MACD line). Then go long!
Note:
MACD or Signal must return under 0 in order to start a new position
If either of the MACD lines touches the 0 line before entry, we skip the trade and wait for the next signal.
SHORT
When CMF is under 0 and price is under EMA. Also MACD has made a double cross under the zero line (meaning one cross up and one cross down by the MACD line). Then go short!
Note:
MACD or Signal must return under 0 in order to start a new position.
If either of the MACD lines touches the 0 line before entry, we skip the trade and wait for the next signal.
TAKE PROFIT
When price hits the exit price (calculated from stop loss with the risk ratio), then exit with 50% of the position. The other 50% will stay open until the price hits the supertrend or the base stop loss.
STOP LOSS
When price hits stop loss then exit the position. Stop loss is calculated from the Supertrend and it is a trailing one, meaning it changes based on the movement of the price.
QUANTITY TO BUY
The quantity to buy is based on the Risk Per Trade % attribute. This means that we can set how much money we want to risk on one trade. Meaning that if we lose that particular position, then a Risk Per Trade % value of our equity will be lost.
Example: if you set the Risk Per Trade % to 1 % and you have a 100$ account balance, then if you loose the trade you will loose 1$ max.
TradePro's Trading Idea Cipher Divergence EMA Pb StrategyHere I present you on of Trade Pro's Trading Idea: Cipher B+ Divergence EMA Pullback Strategy.
Optimized the crypto pairBTC/USDT in the 30 minute chart.
There is the possibility to switch between short and long positions.
You can choose between 2 different take profit/stop loss types: The Lowest Low/ Highest High Stop Loss/ Take Profit and the ATR Take Profit/ Stop Loss.
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How does the strategy work?
ENTRY
Long
The price must be above the 200 EMA .
The price needs to make a pullback into the 50 EMA .
Right after that, the Cipher B indicator must give a buy signal, it must be below the zero line and the Money Flow cloud must be green.
Short
Contrary to the premise of long positions.
EXIT
Lowest Low/ Highest High Exit
The Lowest Low (long) / highest high (short) serves as the stop loss. The TP is formed on the basis of a factor.
(Long for example: *Lowest Low* multiplied by *Profitfactor* = TP).
ATR Exit
The value of ATR at the time of buying is multiplied by the value entered in "Profit factor ATR" and "Stop factor ATR". As soon as the price reaches this value, it is closed.
Important
The script must be optimized for each coin or currency pair. However, only the values for the profit factor, the stop loss and Lowest Low / Highest High are relevant.
Also, by changing the Chanel Length and the Chanel Average, you can create strong profit changes.
The results of the strategy are without commissions and leverage.
If you have any questions or feedback, please let me know in the comments.
If you need more information about the strategy and want to know exactly how to apply it, check out my profile. There I have created a tutorial for the function of the script.
Long Wick TrialI've created this as a confirmation indicator to help know when market conditions are favorable to enter a trade. It measures volume, volatility, and ATR. It is not intended to tell you when to enter/exit the market, but use it with another indicator such as the mirror macd to filter out many losses and avoid entering the market during low volume or excessive volatility that may trip your stop loss.
Green = Favorable Market conditions
Yellow = Enter with caution, the market is moving sideways but is slightly trending
Orange = Enter with caution, the market is trending but extremely volatile and may trip stop loss early
Black = Shouldn't enter market here, market is moving sideways and volume is also low.
*FIBAUS BUY and SELL Trender V2 with AlertsFIBAUS BUY and SELL Trender v2 with ALERTS: Hit me up if you want access.
Always be on the right side of the trade and know where to place the stop loss.
Its a very consistent system allowing for a low risk, high gain trading stratergy. Simply wait for the signal to show as BUY or SELL (LONG or SHORT) and place the order.
SET YOUR ALERTS and WAIT!
Tight stops losses are placed above (Sell/shorts) and below (Buy/Long) orders.
Horizonatal plot lines are to be used as Targets and reversal zones. Green lines are support zones and red lines act as resistance zones.
The Lagging line is the 200 EMA which give me a view of the overall trend of the market and indicates if I should only take Buy or Sell orders. When the 200 is RED, I only sell/short. When it is GREEN, I only Buy/Long.
NB: In trading support and resistance zones interchange. This means that supports can become resistance and resistance can become support zones.
For BTC/XBT, I use 2 hour candles.
Forex, I use 1 hour and 3 hour candles.
For Options I use the 1 hour candles.
Stop Loss stays the same for all types (which is above or below the candle signaling buy or sell.
Hit me up if you want access.
Happy Trading !!
FIBAUS
*FIBAUS BUY and SELL TrenderFIBAUS BUY and SELL Trender: Always be on the right side of the trade and know where to place the stop loss.
Its a very consistent system allowing for a low risk, high gain trading stratergy. Simply wait for the signal to show as BUY or SELL (LONG or SHORT) and place the order.
Tight stops losses are placed above (Sell/shorts) and below (Buy/Long) orders.
Horizonatal plot lines are to be used as Targets and reversal zones. Green lines are support zones and red lines act as resistance zones.
The Lagging line is the 200 EMA which give me a view of the overall trend of the market and indicates if I should only take Buy or Sell orders. When the 200 is RED, I only sell/short. When it is GREEN, I only Buy/Long.
NB: In trading support and resistance zones interchange. This means that supports can become resistance and resistance can become support zones.
For BTC/XBT, I use 2 hour candles.
Forex, I use 1 hour and 3 hour candles.
For Options I use the 1 hour candles.
Stop Loss stays the same for all types (which is above or below the candle signaling buy or sell.
Hit me up if you want access.
Happy Trading !!
FIBAUS
Red and Green Ignored Bar by Oliver VelezOn this occasion I present a script that detects Ignored Red Candles and Ignored Green Candles, basically it is a Price Action event that indicates a possible continuation of the current trend and gives the opportunity to climb it with a Very tight risk, before delving into detail I would like to leave this note:
Note: the detection of this event does not guarantee that the signal will be good, the trader must have the ability to determine its quality based on aspects such as trend, maturity, support / resistance levels, expansion / contraction of the market, risk / benefit, etc, if you do not have knowledge about this you should not use this indicator since using it without a robust trading plan and experience could cause you to partially or totally lose your money, if this is your case you should train before If you try to extract money from the market, this script was created to be another tool in your trading plan in order to configure the rules at your discretion, execute them consistently and have AUTOMATIC ALERTS when the event occurs, which is where I find more value because you can have many instruments waiting for the event to be generated, in the time frame you want and without having to observe the mer When the alert is generated, the Trader should evaluate the quality of the alert and define whether or not to execute it (higher timeframes, they can give you more time to execute the operation correctly).
Let's continue….
This event was created by Oliver Velez recognized trader / mentor of price action, the event has a very interesting particularity since it allows to take a position with a very limited risk in trend movements, this achieves favorable operations of good ratio and small losses when taking An adjusted risk, if the trade works, a good ratio is quickly achieved and we agree with a key point in the “Keep small losses and big profits” trading, this makes it easier to have a positive mathematical hope when your level of Success is not very high, so leave you in the field of profitability.
THE EVENT:
The event has a bullish configuration (Ignored Red Candle) and a bearish configuration (Ignored Green Candle), below I detail the “Hard” rules (later I explain why “Hard”):
1- Last 3 bars have to be GREEN-RED-GREEN (possible bullish configuration) or RED-GREEN-RED (possible bearish configuration), the first bar is called Control Bar, the second is called Ignored Bar and the third Signal Bar as shown in the following image:
2- Be in a trend determined by simple moving averages (Slow of 20 periods and Fast of 8 periods), as a general rule you can take the direction of MA20 but the Trader has to determine if there is a trend movement or not.
3- Control bar of good range, little tail and with a body greater than 55%.
4- Ignored bar preferably narrow range, little tail and that is located in the upper 1/3 of the control bar.
5- Signal bar cannot override the minimum of the ignored bar.
6- Activation / Confirmation of event by means of signal bar in overcoming the body of the ignored bar.
Some examples of ignored bars (with “Hard” and “Flexible” rules):
Features and configuration of the indicator:
To access the indicator settings, press the wheel next to the indicator name VVI_VRI "Configuration options".
- Operation mode (Filtering Type):
• Filtering Complete: all filters activated according to the configuration below.
• Without Filtering: all filters deactivated, all VRI / VVI are displayed without any selection criteria.
• Trend Filter only: shows only VRI / VVI that are in accordance with what is set in “Trend Settings”
- Configuration Moving Averages:
• See Slow Media: slow moving average display with direction detection and color change.
• See Fast Media: display of fast moving average with direction detection and color change.
• Type: possibility to choose the type of media: DEMA, EMA, HullMA, SMA, SSMA, SSMA, TEMA, TMA, VWMA, WMA, ZEMA)
• Period: number of previous bars.
• Source: possibility to choose the type of source, open, close, high, low, hl2 hlc3, ohlc4.
• Reaction: this configuration affects the color change before a change of direction, 1 being an immediate reaction and higher values, a more delayed reaction obtaining les false "changes of direction", a value of 3 filters the direction quite well.
- Trend Configuration
• Uptrend Condition P / VRI: possibility to select any of these conditions:
o Bullish MA direction
o Quick bullish MA direction
o Slow and fast bullish MA direction
o Price higher than slow MA
o Price higher than fast MA
o Price higher than slow and fast MA
o Price higher than slow MA and bullish direction
o Price higher than fast MA and bullish direction
o Price higher than slow, fast MA and bullish direction
o No condition
• Condition P / VVI bear trend: possibility of selecting any of these conditions:
o Slow bearish MA direction
o Fast bearish MA direction
o Slow and fast bearish MA direction
o Price less than slow MA
o Price less than fast MA
o Price less than slow and fast MA
o Price lower than slow MA and bearish direction
o Price less than fast MA and bearish direction
o Price less than slow, fast MA and bearish direction
o No condition
- Control bar configuration
• Minimum body percentage%: possibility to select what body percentage the bar must have.
• Paint control bar: when selected, paint the control bar.
• See control bar label: when selected, a label with the legend BC is plotted.
- Configuration bar ignored
• Above X% of the control bar: possibility to select above what percentage of the control bar the ignored bar must be located.
• Paint ignored bar: when selected, paint the ignored bar.
- Signal bar configuration
• You cannot override the minimum of the ignored bar: when selected, the condition is added that the signal bar cannot override the minimum of the ignored bar.
• Paint signal bar: when selected, paint the signal bar.
• See arrow: when selected it shows the direction arrow of the possible movement.
• See bear and arrow: when selected it shows bear and arrow label
• See bull and arrow: when selected it shows bull and arrow label
The following image shows the ignored bar and painted signal:
- Take profit / loss
The profit / loss taking varies depending on the trader and its risk / monetary plan, the proposal is a recommendation based on the nature of the event that is to have a small risk unit (stop below the minimum of the ignored bar), look for objectives in ratios greater than 2: 1 and eliminate the risk in 1: 1 by taking the stop to BE, all parameters are configurable and are the following:
• See recommended stop loss and take profit: trace the levels of Stop, BE, TP1 and TP2, as well as their prices to know them quickly based on the assumed risk
• To: select which event you want to draw the SL and TP (VRI, VVI)
• Extend stop loss line x bars: allows extending the stop line by x number of bars
• Extend take profit line x bars: allows extending the stop line by x number of bars
• Ratio to move to break even: allows you to select the minimum ratio to move stop to break even (default 1: 1)
• Take profit 1 ratio: allows you to select the ratio for take profit 1 (default 2: 1)
• Take profit 2 ratio: allows you to select the ratio for take profit 2 (default 4: 1)
- Alerts
• It is possible to configure the following alerts:
-VRI DETECTED
-VVI DETECTED
-VRI / VVI DETECTED
Final Notes:
- The term hard rules refers to the fact that an event is sought with the rules detailed above to obtain a high quality event but this brings 2 situations to consider, less
number of events and events that are generated in a strong impulse may be leaked, a very large control bar followed by an ignored narrow body away from moving averages, despite having a good chance of continuing, taking a stop very tight in a strong impulse you can touch it by the simple fact of the own volatility at that time.
- The setting of the parameters “Minimum body percentage% (control bar)”, “Above x% of the control bar (bar ignored)” and “Cannot override the minimum of the ignored bar” can bring large Benefits in terms of number of events and that can also be of high quality, feel free to find the best configuration for your instrument to operate.
- It is recommended to look for trending events, near moving averages and at an early stage of it.
- The display of several nearby VRIs or VVIs in an advanced trend may indicate a depletion of it.
- The alerts can be worked in 2 ways: at the closing of the candle (confirms event but the risk unit may be larger or smaller) or immediately the body of the ignored bar is exceeded, in case you are operating from the mobile and miss many events because of the short time I recommend that you operate in a superior time frame to have more time.
- The indicator is configured with “flexible” rules to have more events, but without any important criteria, each trader has to look for the best configuration that suits his instrument.
- It is recommended to partially close the operation based on the ratio and always keep a part of the position to apply manual trailing stop and try to maximize profits.
The code is open feel free to use and modify it, a mention in credits is appreciated.
If you liked this SCRIPT THUMB UP!
Greetings to all, I wish you much green!
Trailing % StopTrailing % Stop is a simple Stop Loss indicator which users have to define a % percent rate to trail the price like MOVING STOP LOSS "MOST" Indicator.
The main difference is MOST refers to exponential moving averages although Trail % Stop refers to source price.
Default price of source is CLOSE price which can be optimized by the user.
"What is a Trailing Stop-Loss?
A trailing stop-loss order is a special type of trade order where the stop-loss price is not set at a single, absolute dollar amount, but instead is set at a certain percentage or a certain dollar amount below the market price. A trailing stop-loss is sometime referred to simply as a trailing stop.
How a Trailing Stop-Loss Works
When the price goes up, it drags the trailing stop-loss along with it, but when the price stops going up, the stop-loss price remains at the level it was dragged to.
A trailing stop-loss is a way to automatically protect yourself from an investment's downside while locking in the upside.
For example, you buy Company XYZ for $10. You decide that you don't want to lose more than 5% on your investment, but you want to be able to take advantage of any price increases. You also don't want to have to constantly monitor your trades to lock in gains.
You set a trailing stop on XYZ that orders your broker to automatically sell if the price dips more than 5% below the market price.
The benefits of the trailing stop are two-fold. First, if the stock moves against you, the trailing stop will trigger when XYZ hits $9.50, protecting you from futher downside.
But if the stock goes up to $20, the trigger price for the trailing stop comes up along with it. At a price of $20, the trailing stop will only trigger a sale if the stock drops below $19. This helps you lock in most of the gains from the stock's rally.
In the example, you could also decide you don't want to lose more than $2 on your $10 investment. If the stock goes up to $20, the trailing stop-loss would drag along behind the price and only trigger a sale if the stock falls to $18.
Why a Trailing Stop-Loss Matters
A trailing stop-loss can be good for investors who may not have enough discipline to lock-in gains or cut losses. It removes some of the emotion from the trading process and offers some capital protection automatically.
There are some drawbacks to consider. First, you need to consider your trailing stop percentage or amount very carefully. If you're investing in a particularly volatile stock, you could find the stop level triggered fairly frequently."
Long Short signals and alarms are also included.
Algorithm Builder - Multiple TrendsHello traders
I. SCRIPTS ACCESS AND TRIALS
1. For the trial request access, they have to be done through my website .
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here : Daveatt
Due to the new scripts publishing house rules, I won't mention the URL here directly. As I value my partnership with TradingView very much, I prefer showing you the way for finding them :)
3. You may also contact me directly for more information
II. Algorithm Builder - Multiple Trends
2.1 Forewords
This indicator is available only to our PREMIUM users. Our PREMIUM indicators offer more trading analysis capabilities and opportunities.
A few words of caution: the Algorithm Builders - Multiple Trends are more advanced and as such, would require slightly more time to be mastered.
They're not that much difficult, but we understand that designing a trading system with 2 trends might be slightly more complicated - however, there is nothing to be scared of :).
The time spent to learn how to use our PREMIUM tools might be rewarded handsomely.
2.2 Concept
The Algorithm Builder - Multiple Trends is made to detect the convergence of many unrelated indicators and give a BUY or SELL signal whenever all the selected sub-indicators are converging in the same direction.
This is an upgrade of the PRO package giving access to the Algorithm Builder - Single Trend - designed to show 1 unique entry per trend - whereas the Multiple Trends offers re-entries in the same direction of the trend if the indicator detects good convergences to accumulate more positions.
III. Multiple Trends versus Single Trend
3.1 Multiple Trends benefits
A friend asked us recently Why using the Multiple Trends if we can use the Single Trend in a smaller timeframe, and get more entries that way?
We thought this was an excellent question, but the answer is obvious.
Using a Single Trend on a smaller timeframe to solely getting more entries will reduce the security of the given trades.
We designed the Algorithm Builders to take a trade in an identified trend but reducing the timeframe too much will mostly increase your risk - and might lead to capital loss.
By the way, this is a universal rule valid also for a big majority of indicators.
We're absolutely not saying that the Single Trend won't work on small timeframes because actually it really does. But, if you find out a great configuration for your Single Trend, and want to get more signals without increasing your risk - then the Multiple Trends would be a very viable option.
3.2 Main signal versus secondary signals
For the main and secondary trends, the color green symbolizes any identified "BUY" trend. And the color red symbolizes any identified "SELL" trend.
-The MAIN trend symbol is unique and symbolized by a triangle.
- The SECONDARY (could also be called re-entries) trends are multiple and symbolized by a diamond.
In the Algorithm Builder indicator settings, they're identified with the Additional keyword.
3.3 How the convergences are calculated
Extremely important: The diamonds (or re-entries) are displayed, as long as a triangle (or main/primary signal) is displayed.
For a trend change (buy to sell or sell to buy), the system waits for ALL selected re-entries sub-indicators , to give a convergence/confluence in the opposite direction.
For example, let's assume a BUY/green convergence based on 3 indicators. One or Two of them going turning red, won't be enough for a trend change.
But, if all of them turn red, then we'll see a red triangle - signaling the beginning of a new downtrend.
3.4 Why multiple entries?
Here are a few use cases :
1. The main use case why we made those Multiple Trends indicators: A trader got invalidated or stopped out on a trade, but wants a system to let hin/her jump back in with a minimum of security. (security depending on the configuration of the Algorithm Builder as a whole).
This is very frustrating to get in a trade, being stopped out, and finally, see the trade going in the expected direction.
Even more frustrating to jump back in at the end of a trend, and get stopped out again - we all agree on this.
2. You want to add more positions on your main trade as your Algo Builder identified a solid trend - this is a nice way to possibly maximize your gains.
Once again, we don't/won't guarantee any performance result (not because we don't believe in our tools, but for legal reason), all depends on the time spent reading our documentation and playing with the Algo Builder - as explained on our Tutorials.
More info available on our website. URL available in this script signature and on my profile status.
IV. Why the Algorithm Builder Multiple Trends may help you
I worked with many traders during my career, and their feedback about trading is often pretty similar.
They all tried a lot of complicated indicators, losing their capital, and finally getting back to the basics (even to the basic indicators if I might say)
The art is finding a good combination of indicators and setting strict money/risk management rules.
Easy in concept, but more than 90+% of traders lose money on the markets... which teach us that trading is not only about drawing trendlines, or using cool indicators but finding ways to ease our psychology while trading.
4.1 The Algorithm Builder trading framework
The sub-indicators (full list on our website) weren't chosen randomly. They're based on a trading method we've developed over the last 6 years - while working with traders and other trading quants.
The Algo Builders are made to detect a convergence - and as such, will give a signal once a trend has been identified.
They're not made to detect reversal but have been designed to give a signal when all sub-indicators are either ALL bullish (green) or ALL bearish (red).
We provide a framework based on indicators we selected because they:
1. make sense to be used altogether
2. work on asset classes like INDEX, CRYPTO, STOCK OPTIONS, FOREX, COMMODITIES
3. it may expand your knowledge about what detecting a convergence with pre-selected indicator really means
4.2 Supports and Resistances
The indicator displays the main algorithmic supports and resistances according to our trading method.
I think they're relevant for all asset classes, but you're absolutely free to use any different supports/resistances logic if you want to.
I'm not against it because I know that pivots, Fibonacci levels, etc. may work very well also.
4.6 Hard Exits
Our trading method is known for the hard exits, also called invalidation.
The Single Trend+ includes a hard exit based on a MACD - settings are flexible and you may update them.
Having a stop-loss protecting your trade is a best practice - Protecting your stop-loss also from getting hit is incredible.
We prefer invalidate a few positions, even if sometimes we don't want to. Rather than the market hard exiting on us, and leaving with our hard-working money.
4.7 Alerts
Alerts are enabled for:
- BUY/SELL MAIN triangles signals
- BUY/SELL SECONDARY diamond signals
- Hard Exits
V. Pain points that we're trying to solve with our Algorithm Builders
Issue #1 There are many informations / indicators / strategies / backtests / noise. Finding the right ones is not a simple task.
Solution #1 A reliable system that removes the external noise is much needed in trading to stay "in the game".
Issue #2 Trading could be quite stressful - The majority doesn't lose in trading because technical analysis is hard, but because managing our psychology is one of the hardest things a human can do.
Solution #2 Some ways to reduce the "trading stress" could be: getting better quality signals and trading like a "machine". Forgetting about Twitter and trusting the system you designed.
Issue #3 Trading without strict rules and only based on what we feel, or what we think the market should do is the fastest way to kiss our money goodbye.
Only 1 indicator generally is not enough. Traders generally use a combination of several indicators but they're monitoring them individually.
It's normal then to feel exhausted at the end of the day ^^ (to say the least)... and exhaustion leads to mistakes which leads to..... (I'm sure you got it) ... capital loss.
Solution #3 As a trader, I needed a trading framework and a method. I offer our trading method but they're plenty others out there. We cannot claim obviously it's the best ever ....but let's say we're using those exact same
scripts ourselves for our trading. And this what we've been recommending our clients to trade with for the past years. Also, having a tool detecting the convergence of several indicators and giving 1 unique signal
for BUY/SELL position will save you a lot of time/energy, and perhaps might help you out getting better trading performance.
VI. Resolving a complex puzzle and having fun in the process
Trading has to stay a passion and not (only be) a source of intense stress.
The most successful traders I know are "trading geeks" - literally always looking for optimizing, searching for the best possible entries, setups, indicators, tools, etc.
For them, it's not even about the money anymore, but only about beating their previous performance.
Why are they doing this? Because it's fun
Might appears as a bold statement, but I guarantee that looking for setups is fun.
One of our users even told us, that it's like playing with "Legos" and we couldn't possibly agree more.
VII. Designing a system that "makes sense"
Another bold statement now. Brace yourselves ladies and gentlemen
The Algorithm Builders allow to design trading systems quickly. What could takes days/weeks/months to find out... might be now within your reach in less than a few hours.
With a bit of practice, less than an hour might be enough per asset/timeframe to find a system that makes sense to you and adapted to your trading capital and psychology.
Assuming our users read our guides and are fully committed to learning a new way of trading - then we do guarantee you'll be able to design kick-ass trading systems that make sense.
"Making sense" doesn't mean at all it's guaranteed to win, it means you're the one defining the convergence of indicators, using your Algorithm Builder, and observe that most of the time - whenever there is a BUY signal, the candlesticks are going upwards - whenever there is a SELL signal, it's going downwards.
This is a necessary step to make real progress from a trading analyst perspective - and hopefully could lead to profits.
VII. Algorithm Builder versus the main trader enemy(=psychology)
This indicator has the goal to help solving one of the MAIN issues encountered by traders.
Most of traders realize, they can't perform with only 1 indicator (or 1 price pattern or 1 price action) and need a combination of multiple indicators before getting in a trade.
Far from being a magic pill, if it could at least reduce the stress you have while trading, then we'll consider we made a great job - it's a technical "useless noise remover", and needs to be followed strictly.
Such trust in a trading system can only be built by testing your Algorithm Builder configuration on either:
1. a demo account
2. or a live account with small bids. And then, increasing progressively the bids if your capital increases progressively.
Though, you should still use your common sense. (for instance: if we get a BUY signal right on a big timeframe resistance we're hitting for the first time).
I'm aware this is a new way of trading but for many, and while we cannot foresee the future, neither predict performance, we believe it might save you a lot of time to find good signals.
My maximum level of happiness will be reached the day when our users will contact me and showing me setups being mine.
I'm sure that even I can learn from my users and, we can all learn from each other Algorithm Builder configuration
VIII. What is a wrong or bad configuration?
Simply put. If you see that most of your signals react such as described below:
1. a buy triangle predicts, most of the time an upwards move
2. a sell triangle predicts, most of the time a downwards move
3. you estimated yourself the stop-loss needed to give enough room for your trades.
4. take profits based on algorithmic support and resistances or your own take profit method.
So what's a good Algorithm Builder configuration? A configuration you're happy with and makes sense.
A better Algorithm Builder setup is one used in demo or a live account w/ small bids for a few weeks, and you're consistent in your trading performance.
If you have any doubt or question, please hit me up directly or ask in the comments section of this script.
I'll never claim I have the best trading methodology or the best indicators. You only will be the judge, and I'll appreciate all the questions and feedback you're sending my way.
They help me a ton to develop indicators based on all the requests I received.
Kind regards,
Dave
™TradeChartist Entry/Exit Indicator™TradeChartist Entry/Exit Indicator is an easy to use indicator that plots very high probability BUY and SELL signals on the chart along with an optional dynamic trigger line for SELL and BUY which can be used as a reference for Stop Loss/ Trailing Stop Loss.
What does the ™TradeChartist Entry/Exit Indicator do?
Plots very high probability BUY and SELL signals on chart
Plots dynamic BUY or SELL trigger lines that can be used to
---------1. Set Stop Loss reference or Trailing Stop Loss.
---------2. Anticipate change in trend/momentum when price breaches the trigger line.
Plots BUY and SELL price lines which are Candle open prices when BUY/SELL signals are posted.
Alert traders when BUY/SELL signal is generated and Trigger for BUY/SELL is breached.
Plots Background vertical Signal break lines at BUYs in green and at SELLs in red.
Plots % Gains based on candle close in real-time and based on candle high for BUY/candle low for SELL on previous candles calculated from the candle open price at BUY/SELL.
Plots RSI colour candles based on user preferred Overbought and Oversold RSI levels from indicator settings.
Paints background colour for BUY and SELL zones which can be changed from indicator settings under Style tab to personalise the chart screen.
What markets can this indicator be used on?
Forex
Stocks
Commodities
Cryptocurrencies
and almost any asset on Trading View
Works really well when there is good volume, volatility or both in the asset observed/traded.
Does this indicator repaint?
No and Yes
Once the confirmed BUY (in green) and SELL (in red) signals are posted after a candle close, it doesn't repaint.
Repainting happens for real time BUY and SELL trigger plots on the current candle as price tries to breach the trigger line.
For confirmed BUY and SELL alerts, use alerts on candle close. Real-time BUY and SELL trigger alerts can also be set.
Does the indicator send alerts when a signal is generated?
Yes, traders can get alerts by setting Trading View alerts for BUY/SELL Signals and BUY/SELL Triggers. For confirmed BUY/SELL alerts, 'Once per bar close' must be used.
Why are there two Signal Generator types in the indicator settings?
The two types of signal generators cater to almost all types of traders and trade types. Some assets perform well with Type 1 and some assets with Type 2. Also some traders prefer Type 1 and some prefer Type 2 based on variation in frequency of signals on the asset observed. Both types can be used along with 'Use Heikin Ashi Candles' from the indicator settings to have more combinations to test on an asset for maximising gains.
Type 1 on GBPUSD 1hr chart
Type 2 on GBPUSD 1hr chart
Type 1 normally works well with most types of assets.
Should the indicator be used on normal candles or Heikin Ashi candles?
The indicator can be used on either of the candle types. If signals from Heikin Ashi chart needs to be plotted on normal chart, just check 'Use Heikin Ashi Candles' from indicator settings. It may not be exact, but very close as it mimics Heikin Ashi chart trend.
Heikin Ashi charts are recommended to spot trends and reversals but they don't reflect real OHLC values in the candles, so BUY/SELL entry price points may not be ideal using Heikin Ashi charts especially when there are gaps in price action (example Stocks, FOREX, Commodities). For real OHLC prices and to know exact price points for entering/exiting trade, use normal candlestick charts. It is purely for this reason Heikin Ashi chart signals can be mimicked on normal candles using 'Use Heikin Ashi Candles' option from settings without having to switch between the two.
It can be seen from the GOLD 1hr charts above (Heikin Ashi on left and normal candlestick chart on right), the indicator mimics signals sensibly (not copy) and doesn't use same entry values as Heikin Ashi chart to aid the trader with practical trade execution.
How do the Trigger Lines work and should they be used?
Trigger for BUY/SELL lines are coded to adapt to bull and bear power in the asset trading environment and helps the trader to anticipate change in trend based on direction of price momentum when enabled from indicator settings (On by default). Traders can use trigger lines as reference for Stop Loss points. For example, when a BUY signal is posted, the 'Trigger for SELL' can be used as initial Stop Loss reference and as price starts going up, the trigger line starts moving up enabling the trader to use it as a trailing stop loss point which helps secure or lock profits as they act as ideal support/resistance lines based on the type of trade too. BUY/SELL Trigger lines can be enabled or disabled from indicator settings 'Inputs' tab.
Also, the trigger lines can alert traders to anticipate change in trend/momentum when price hits them and it helps them take a position, either Long or Short when confirmed BUY/SELL signal is posted. As price tries to breach the trigger lines, they change from 'Trigger to BUY/SELL' to 'BUY/SELL Triggered' as shown below on 1hr Gold chart. This feature is coded purely to signal the trader a potential change in trend/momentum. The trigger lines also act as strong support/resistance so only a confirmed close above them will ensure a High Probability Trade.
It should also be noted that price tends to test the BUY/SELL trigger lines to see if a breach is possible. A rejection at trigger lines could mean trend continuation in the signal direction. Traders could use other trend indicators like Ichimoku cloud, stoch, TRIX etc. to make an informed trade decision here. In the chart below, the 'BUY triggered' label has changed back to 'Trigger for BUY' as price failed to close above it.
What is the use of 'Plot BUY/SELL Price Line'?
Enabling BUY/SELL price line from settings (On by default) plots the price line corresponding to candle open when BUY/SELL signals were posted on the chart by the indicator. Open price is used as it is close to the trigger lines and is a fair reference point for indicator to calculate the gains plot on chart since BUY/SELL signals.
Can trade gains be plotted on chart and how are they calculated?
To show percentage gains on chart, just enable 'Show % Gains on Chart' from indicator settings (Off by default). As explained above, % gains are calculated from BUY/SELL candle Open price to high (for Long trades) or low (for Short trades) and to current candle close (for both Long and Short trades) as it helps see real-time gains from BUY/SELL candle Open price. The % gains are plotted as below.
0 - 0.75% - ↑ in green
0.75-1.5% - 1% in green
1.51-2.5% - 2% in green
2.51-3.5% - 3% in green
3.51-4.5% - 4% in green
4.51-5.5% - 5% in green
5.51-10.5% - 5+% in green
10.51-20% - 10+% in green
20+% - 20+% in green
Down from Entry - ↓ in red
What are RSI Colour Candles?
RSI Colour Candles are visual candle plots in colour (Blue when RSI>60, Yellow when RSI<30 and On by default) that help trades spot RSI levels at a glance visually from the chart in real-time without the need for another indicator on screen. Traders can also choose the source to be used for plotting RSI colour candles from indicator settings input tab and change candle colours from indicator settings style tab. The length for RSI calculation is 14 and works well for almost any trading scenario and cannot be changed from indicator settings. The default overbought RSI is set at 60 as it helps spot momentum increase and big moves happen above 60 RSI. When deciding to sell or buy, RSI can be tuned from settings to spot decent entry or exit. For example, RSI>80 on a red Heikin Ashi candle (blue body and red border) after an uptrend could signal potential sell-off or RSI<30 on a green Heikin Ashi candle (yellow body and green border) after a down trend could signal a good move up. In the example daily chart of RVN-BTC below, RSI>75 on a red Heikin Ashi candle signalled a potential sell off way before the actual SELL signal plot on chart.
What is the use of Signal Break Line Plot and Paint Background options from indicator settings?
Signal break lines can be useful if traders prefer to switch off BUY/SELL signals from indicator settings to show where previous signals were generated. (On by default)
Paint Background is just a nice to have feature that paints the signal zones to personalise the chart screen. (Off by default). The background paint colours can be changed from indicator settings style tab.
4hr SPX chart below showcases the difference when the Signal Break Lines and Background Paint options are used with BUY/SELL signals switched off.
Important Note:
When using this indicator on a chart, check 'Scale Price Chart Only' and 'Auto (Fits Data to Screen)' by clicking on settings wheel on the bottom right under the chart screen as shown below. If not checked, the chart screen will look like one on the left as shown below.
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This is not a free to use indicator. Get in touch with me if you would like access to the indicator for a 1 day trial before deciding on a paid access for a period of your choice. Monthly, Quarterly, Half-Yearly and 1 Year access available.
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MACKAVELLI Algorithmic ALERTThis is the ALERT script to compliment the strategy script.
When you set the alerts, make sure you use "On Bar Close" as the option, otherwise you will get repeated alerts. You can use this ALERT script with Autoview for automated algorithmic trading.
I had a hard time finding a strategy that would work in different time-frames and multiple different currency pairs. This is what I ended up with after countless hours of research and testing. I designed this strategy for auto-algorithmic trading and it uses three different indicators for Long/Short positions and a 4th indicator for exiting positions.
1) A green-light indicator that tells you whether or not you can go long/short.
2) A confirmation indicator that executes the long/short positions.
3) A chop indicator that measures the distance between the two MA's. When they're too close a trade will not be executed, as this usually indicates a chop zone.
4) A third MA is used as an exit indicator.
5) Finally, a loop function is designed to prevent repeat signals. Once a signal is produced on bar close it cannot happen again until that trade is closed or a new position is opened.
Be advised, you need to adjust the settings for each currency pair and time-frame. Once you do that, back-test it and count the last 100 trades to determine accurately your wins/losses. Long entries are the top of the previous bar, shorts are the bottom of the previous bar. This is a more accurate way of counting wins/losses. Tradingview back-test's are not accurate because of where they estimate your long/short entries are, it's very misleading.
Right now I have it setup for 2hr USDCAD with a back-test of 58% win rate on the last 100 trades.
The chop indicator is set to 0.04, I suggest starting there. 0.03 is the lowest I would go. You can go all the way up to 0.1 and higher if needed. You'll start missing big trades though.
The EMA for green-light signal is set to 10, a lower number will give you more entries but less accurate results, bigger number will give less entries with more accuracy but with missed opportunities. 10 is a good starting point.
This strategy is also designed so you can use tight stop losses to prevent large losses. This is because the strategy typically catches trends on the way up/down, minimizing risk for reversal.
I use Heikin Ashi candles for a smoother chart to work with. I have not tested this strategy with normal candles.
DEMO this strategy before using it live and make sure you back-test and tune it before you start. This is written in PINE V3 SO IT WILL NOT REPAINT.
MACKAVELLI Algorithmic StrategyI had a hard time finding a strategy that would work in different time-frames and multiple different currency pairs. This is what I ended up with after countless hours of research and testing. I designed this strategy for auto-algorithmic trading and it uses three different indicators for Long/Short positions and a 4th indicator for exiting positions.
1) A green-light indicator that tells you whether or not you can go long/short.
2) A confirmation indicator that executes the long/short positions.
3) A chop indicator that measures the distance between the two MA's. When they're too close a trade will not be executed, as this usually indicates a chop zone.
4) A third MA is used as an exit indicator.
5) Finally, a loop function is designed to prevent repeat signals. Once a signal is produced on bar close it cannot happen again until that trade is closed or a new position is opened.
Be advised, you need to adjust the settings for each currency pair and time-frame. Once you do that, back-test it and count the last 100 trades to determine accurately your wins/losses. Long entries are the top of the previous bar, shorts are the bottom of the previous bar. This is a more accurate way of counting wins/losses. Tradingview back-test's are not accurate because of where they estimate your long/short entries are, it's very misleading.
Right now I have it setup for 2hr USDCAD with a back-test of 58% win rate on the last 100 trades.
The chop indicator is set to 0.04, I suggest starting there. 0.03 is the lowest I would go. You can go all the way up to 0.1 and higher if needed. You'll start missing big trades though.
The EMA for green-light signal is set to 10, a lower number will give you more entries but less accurate results, bigger number will give less entries with more accuracy but with missed opportunities. 10 is a good starting point.
This strategy is also designed so you can use tight stop losses to prevent large losses. This is because the strategy typically catches trends on the way up/down, minimizing risk for reversal.
I use Heikin Ashi candles for a smoother chart to work with. I have not tested this strategy with normal candles.
DEMO this strategy before using it live and make sure you back-test and tune it before you start. This is written in PINE V3 SO IT WILL NOT REPAINT.
Momentum Trader Strategy 3.0Momentum Trader 3.0 is a momentum trading strategy which uses volume to confirm market momentum driven moves.
By default it only trades between 0900 and 1530 (designed for futures trading and can be toggled to 24/7)
No repaint issues, what you see is real
Toggles allow you to enable Long or Short independently which may work better or worse for your market
Designed primarily for Day Trading (1-15m interval)
Presently only the Short side is optimized, the Long works but overtrades a bit. I will be adding an option to remove the less useful signals and improve performance.
Momentum Trader is a real and successful momentum strategy (which I use myself). It isn't a miracle 'always win' strategy but it is a steady workhorse. By combining high probability momentum trades and auto stop-losses, it takes a good slice of most rallies, a big slice of the grand drops, and avoids heavy sudden losses.
Momentum Trader can be used in any timeframe. Your success depends on the volatility of the individual market. I recommend trading at 10m and below for high volatility instruments like ES/SPX while low volatility instruments can be traded at the 1h and beyond. At the level of 1D+ it also works as well but naturally as a momentum strategy it may take a while to pivot.
Momentum Trader provides you with 3 long and 2 short entries which represent different levels of risk/reward. Like any real strategy, there can be periods of chop where the strategy will lose (small based on stop-loss) if the market is chopping very quickly back and forth or pivoting suddenly. As a rule, Momentum Trader attempts to avoid most of that by typically flagging trends which are established and confirmed. Different signals give you different degrees of confirmation and thus different risk/reward.
Trend-following Microprofit w/ Smart DCA + Profit Plot + AlertsThis alert script is oriented towards automated trading with Gunbot.
I call it "Options Galore" because of all the user-configurable settings it offers for up-trending and down-trending markets. (See: " Market Tone " study).
A strategy script for quantitative backtesting, smarter buy/sell indicator such as TSI or Stoch RSI, and stop loss/trailing stop are all in the pipeline. Please share any other suggestions in the comments!
Features:
Set backtesting range, or start forward testing from the current time. Historical Renko charts can lead to repainting, which is avoided by keeping the chart open in your browser and running with real time data.
Average protection: only buy if price drops by a certain % below your average price -- can be automatically toggled by market trender if we want to continue buying during an uptrend. This reduces net profit but increases gross profit.
Gain protection: only sell if price is a certain % above your average price -- can be automatically toggled by market trender. Wait for larger profits in an uptrend, but sell earlier in a down trend.
Minimum percent gain can also be set to a negative value to allow selling at a loss. This is not true stop loss behavior, we still need a sell signal from the indicator. This means we will try to get the best price above your price floor, but in some rare situations we may not sell before the price drops below your price floor.
Position plotter: plots average long position price relative to current price.
Plot loss level: plots average price - loss %. With pyramiding turned off, this can be used to find out where to set your stop loss.
This script is free to use, just comment or PM for access. It is mainly meant to showcase some new features, and is only safe to use in carefully selected markets such as USDT-BTC.
Stay posted for upcoming scripts with smarter signaling and additional features! If you would like to add these features to your own preferred strategy, please PM me.
Pucci Trend EMA-SMA Crossover with TolerancePucci Trend EMA-SMA Crossover with Tolerance
This indicator helps identify market trends and generates trading signals based on the crossover between an Exponential Moving Average (EMA) and a Simple Moving Average (SMA) with an adjustable tolerance threshold. The signals work as follows:
Buy Signal (B) -> Triggers when the EMA crosses above the SMA, exceeding a user-defined tolerance (in basis points). Optionally, a price filter can require the high or low to be below the EMA for confirmation.
Sell Signal (S) -> Triggers when the SMA crosses above the EMA, exceeding the tolerance. The optional price filter may require the high or low to be above the EMA.
The tolerance helps reduce false signals by requiring a minimum distance between the moving averages before confirming a crossover. The price filter adds an extra confirmation layer by checking if price action respects the EMA level.
Important Notes:
1º No profitability guarantee: This tool is for analysis only and may generate losses.
2º "As Is" disclaimer: Provided without warranties or responsibility for trading outcomes.
3º Use Stop Loss: Users must determine their own risk management.
4º Parameter adjustment needed: Optimal MA periods and tolerance vary by timeframe.
5º Filter impact varies: Enabling/disabling the price filter may improve or worsen performance.
