TradingView
Daveatt
17 фев 2020 г., 14:03

BEST Engulfing + Breakout Strategy 

Bitcoin / TetherUSBinance

Описание

Hello traders

This is a simple algorithm for a Tradingview strategy tracking a convergence of 2 unrelated indicators.

Convergence is the solution to my trading problems.
It's a puzzle with infinite possibilities and only a few working combinations.

Here's one that I like

- Engulfing pattern
- Price vs Moving average for detecting a breakout

Definition

Take out the notebooks :) and some coffee (good for focus). I'm bullish in coffee

The engulfing pattern is a two-candle reversal pattern.
The second candle completely ‘engulfs’ the real body of the first one, without regard to the length of the tail shadows.

The bullish Engulfing pattern appears in a downtrend and is a combination of one red candle followed by a larger green candle
The bearish Engulfing pattern appears in a downtrend and is a combination of one green candle followed by a larger red candle

Example: imgur.com/a/krDDUz4

We're bored sir... what's the point of all this?

In summary, an engulfing is a pattern to track reversals. (the whole TradingView audience stands up now giving a standing ovation)
Adding the Price vs Moving average filters allows to track reversals with momentums (half of the audience collapsed because this is too awesome)

Ok sir... you picked up my interest

I included some cool backtest filters:

- date range filtering
- flexible take profit in USD value (plotted in blue)
- flexible stop loss in USD value (plotted in red)

All the best
Dave

Информация о релизе

- Added pyramiding
Комментарии
kshah84
Thank you for the indicator....will this work on stocks / index chart?
Daveatt
@kshah84, should work on everything. This is not a complete strategy at all by any means so please be careful trading with it
meyaarsenal95
hi, how to trigger the alert?
Daveatt
@meyaarsenal95, Hi there
It was made as a strategy
For alerts, the code needs to be updated using this tutorial: tradingview.com/blog/en/strategy-alerts-are-live-now-18770/
Daveatt
@AleksiPet, not as is, you'll have to update the script and add the alerts
tradingefficiency
Backtested this to my forex pairs and everything resulted negative profits :(
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