The proposal of this script is to show the possible trading points of BUY and SELL based on the 15-minute chart of the Nasdaq Future Index. The start point of the strategy was schedule for 2021/01/01 and until the time of this publication (2021/01/31), for 1 index contract the results presented area a Gross Profit of 2.97% with a Net Profit of 1.35%.
█ FEATURES The indicator shows on the graph the position of the MACD and TSI indicators that are the places of strength among Buyers and Sellers. It's possible to observe a sharp fall or rise in the price of these positions. On the current candle, a label is displayed containing the value of the William %R Mod indicator, which will display the OverBought position (dark red) and OverSold position (dark green). The other colors like light red and green are the regions where the price makes the decision of which direction to go. There are also other indicators: a) The positions of the BUY (light green) and SELL areas (light red); b) The label with the position of BUY (dark green) and SELL (dark red) with the line that connects these points; c) DEMA 72 (orange); d) EmaOchl4 in the color green for BULL and red for BEAR market; e) Pivots high and low f) Maximum (purple light) and minimum areas (blue light)
█ FUNCTIONS AND SETTINGS The indicator uses the following functions: (1) DEMA - Double Exponential Moving Average (08,17,34, 72) (2) ema () - Exponential Moving Averge (72, ohlc4) (3) plot() (4) barcolor() (5) cross() (6) pivots () (7) William R% Md (OverBought = -7, OverSold=-93) (8) Maximum and Minimum Value (9) fill() (10) macd () - Moving Average Convergence Divergence (Fast Lengt=12, Slow Length=26, Source=close, Signal Smoothing=9) (11) tsi() - Trading Strenght Indicator==> Índice de Força Real ( IFR ) (Long Length=72, Short Length=17, Signal Length=17) (12) Buy and Sell TRADE Points
█ PERFORMANCE AND ERRORS The positions of BUY and SELL points are defined through the crossing of the Dema 34 candles with the Ema Ohcl4. As it is an indicator, it can present different positions from de market direction. Thus there is a need to observe the direction of the market in order to verify whether the indicate decision is really acceptable. The decision to BUY or SELL an asset must be well studied to avoid financial losses. The indicator will only help you in this decision, is your responsibility the decision of entering or leaving an asset.
█ THANKS TO PineCoders for all they do, all the tools and help they provide, and their involvement in making a better community. All the PineCoders, Pine Pros, and Pine Wizards, people who share their work and knowledge for the sake of it and helping others, I'm very happy and grate full indeed.
█ NOTE If you have any suggestions for improving the script or need help using it, please send a message in the comments
Hello, thanks for sharing this script, this looks promising, but it does not have alerts, how to add alerts to the script. can you please help and advise, thanks
DalmarSantos
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@cryptofutures2021, thanks for the feedback. According to the orientation of the processing of the script the 'alertcondition()' has no effect inside strategies. We can use alert if we change the strategies function for the study function
rlone9440
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Thanks for posting this script. I've been paper trading for about a week now and it shows great promise! I haven't tweeked the settings much, but it seems fine to me as is except for the amount I trade. I can't change it. It's always 1 contract. Also, what conditions does the script have for closing a losing trade?
All in all it's a satisfying script so far and I'm glad you didn't choose pyramiding as so many other scripts have. Thanks again!
DalmarSantos
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@rlone9440, thanks for your feedback. If you want you can change the number "1" contract for the new quantities of the contract that you want to negotiate in these function
strategy.entry("Long", strategy.long, 1, comment="Open Buy") change for strategy.entry("Long", strategy.long, number of the contracts that you want, comment="Open Buy")
strategy.entry("Long", strategy.long, 1, comment="Open Sell) change for strategy.entry("Long", strategy.long, number of the contracts that you want, comment="Open Sell")
You must to understanding that the NASDAQ is very volatile paper and you can lose a lot of money when you increase the number of the contracts.
patriciaadinda
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Does it repaint?
DalmarSantos
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Hello @patriciaadinda, I use the indicator directly on the 15 min Nasdaq chart and open the operations according to the indication it shows me. The efficiency is around 45 and 51%.
Traderboss25
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Hello.
Great work.
I enjoy trading using your script!
Thanks a lot!
DalmarSantos
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@hexa5c6vew, thanks for your interestest, I'm rooting for you. Leave your comments on the use, this would be important for the users.
DalmarSantos
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@hexa5c6vew, thanks, for your interest. It would be very important if you could share how you have been using the indicator.