Multi Timeframe Moving Average Convergence Divergence {DCAquant}Overview
The MTF MACD indicator provides a unique view of MACD (Moving Average Convergence Divergence) and Signal Line dynamics across various timeframes. It calculates the MACD and Signal Line for each selected timeframe and aggregates them for analysis.
Key Features
MACD Calculation
Utilizes standard MACD calculations based on user-defined parameters like fast length, slow length, and signal smoothing.
Determines the difference between the MACD and Signal Line to identify convergence or divergence.
Multiple Timeframe Analysis
Allows users to select up to six different timeframes for analysis, ranging from minutes to days, providing a holistic view of market trends.
Calculates MACD and Signal Line for each timeframe independently.
Aggregated Analysis
Combines MACD and Signal Line values from multiple timeframes to derive a consolidated view.
Optionally applies moving average smoothing to aggregated MACD and Signal Line values for better clarity.
Position Identification
Determines the trading position (Long, Short, or Neutral) based on the relationship between MACD and Signal Line.
Considers the proximity of MACD and Signal Line to identify potential trading opportunities.
Visual Representation
Plots MACD and Signal Line on the price chart for visual analysis.
Utilizes color-coded backgrounds to indicate trading conditions (Long, Short, or Neutral) for quick interpretation.
Dynamic Table Display
Displays trading position alongside graphical indicators (rocket for Long, snowflake for Short, and star for Neutral) in a customizable table.
Offers flexibility in table placement and size for user preference.
How to Use
Parameter Configuration
Adjust parameters like fast length, slow length, and signal smoothing to fine-tune MACD calculations.
Select desired timeframes for analysis based on trading preferences and market conditions.
Interpretation
Monitor the relationship between MACD and Signal Line on the price chart.
Pay attention to color-coded backgrounds and graphical indicators in the table for actionable insights.
Decision Making
Consider entering Long positions when MACD is above the Signal Line and vice versa for Short positions.
Exercise caution during Neutral conditions, as there may be uncertainty in market direction.
Risk Management
Combine MTF MACD analysis with risk management strategies to optimize trade entries and exits.
Set stop-loss and take-profit levels based on individual risk tolerance and market conditions.
Conclusion
The Multi Timeframe Moving Average Convergence Divergence (MTF MACD) indicator offers a robust framework for traders to analyze market trends across multiple timeframes efficiently. By combining MACD insights from various time horizons and presenting them in a clear and actionable format, it empowers traders to make informed decisions and enhance their trading strategies.
Disclaimer
The Multi Timeframe Moving Average Convergence Divergence (MTF MACD) indicator provided here is intended for educational and informational purposes only. Trading in financial markets involves risk, and past performance is not indicative of future results. The use of this indicator does not guarantee profits or prevent losses.
Please be aware that trading decisions should be made based on your own analysis, risk tolerance, and financial situation. It is essential to conduct thorough research and seek advice from qualified financial professionals before engaging in any trading activity.
The MTF MACD indicator is a tool designed to assist traders in analyzing market trends and identifying potential trading opportunities. However, it is not a substitute for sound judgment and prudent risk management.
By using this indicator, you acknowledge that you are solely responsible for your trading decisions, and you agree to indemnify and hold harmless the developer and distributor of this indicator from any losses, damages, or liabilities arising from its use.
Trading in financial markets carries inherent risks, and you should only trade with capital that you can afford to lose. Exercise caution and discretion when implementing trading strategies, and consider seeking independent financial advice if necessary.
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RSI Multi Strategies With Overlay SignalsHello everyone,
In this indicator, you will find 6 different entry and exit signals based on the RSI :
Entry into overbought and oversold zones
Exit from overbought and oversold zones
Crossing the 50 level
RSI cross RSI MA below or above the 50 level
RSI cross RSI MA in the overbought or oversold zones
RSI Divergence
With the signals identified, you can create your own strategy . (If you have any suggestions, please mention them in the comments).
Beyond these signals, you can set SL (Stop Loss) and TP (Take Profit) levels to better manage your positions.
SL Methods:
Percentage: The stop loss is determined by the percentage you specify.
ATR : The stop level is determined based on the Average True Range (ATR).
TP Methods:
Percentage: The take profit is determined by the percentage you specify.
RR ( Risk Reward ): The take profit level is determined based on the distance from the stop level.
You can mix and match these options as you like.
What makes the indicator unique and effective is its ability to display the RSI in the bottom chart and the signals, SL (Stop Loss), and TP (Take Profit) levels in the overlay chart simultaneously. This feature allows you to manage your trading quickly and easily without the need for using two separate indicators.
Let's try out a few strategies together.
My entry signal: RSI Entered OS (Oversold) Zone
My exit signal: RSI Entered OB (Overbought) Zone
I'm not using a stoploss for this strategy ("Fortune favors the brave").
Let's keep ourselves safe by adding a stop loss.
I'm adding an ATR-based stop loss.
I think it's better now.
If you have any questions or suggestions about the indicator, you can contact me.
Cheers
ProTrend Adaptive Indicator by TradingClueThe " ProTrend Adaptive " is an innovative trading indicator, aimed at offering traders an advanced method for detecting market trends with higher precision. This tool ingeniously integrates the principles of the Supertrend indicator with adaptive linear regression channels , enhancing its sensitivity to current market dynamics.
▯ Core Features ▯
✅ Trend Detection
At its heart, the ProTrend Adaptive utilizes a dual-approach for identifying trends. The first layer is derived from the Supertrend indicator, known for its effectiveness in highlighting ongoing trends using price average and volatility. This is visually represented by distinct red and green areas above or below the price candles, indicating bearish or bullish trends, respectively.
✅ Adaptive Linear Regression Channels
The second layer employs adaptive linear regression channels, which dynamically adjust their length based on the Average True Range (ATR), a measure of market volatility. This adaptability ensures the indicator remains attuned to changing market conditions, offering more relevant trend lines and signals.
✅ Signal Sensitivity
By leveraging the ATR not just in the Supertrend calculation but also to dynamically adjust the linear regression channels, the ProTrend Adaptive offers heightened sensitivity to market changes, ensuring traders receive timely and accurate signals.
✅ Entry Signals & Trend Strength
Entry points for potential trades are marked by triangles. Additionally, the indicator includes a feature that displays the strength of a trend through transparent bars below the candles, calculated using the Average Directional Index (ADX), providing users with valuable insight into the vigor of the trend.
▯ Importance of Adaptive Approach ▯
The adaptive nature of the ProTrend Adaptive's linear regression channels is crucial for its performance. Traditional linear regression channels are fixed in their period, which can render them less effective during periods of significant volatility shifts. By making the length of these channels responsive to the ATR, the ProTrend Adaptive ensures that the trend lines and signals it generates are always aligned with the current market context, offering traders a dynamic tool that adjusts in real-time to volatility changes.
▯ Supertrend Indicator Explained ▯
The Supertrend Indicator is a popular tool among traders for its simplicity and effectiveness in identifying market trends. It calculates the average price momentum and volatility to determine whether the market is in a bullish or bearish phase. Its visual simplicity, showing clear bullish and bearish zones, makes it an invaluable component of the ProTrend Adaptive, providing a solid foundation for trend detection upon which the adaptive linear regression channels build.
▯ Example ▯
This example illustrates several robust entry signals. These signals can seamlessly integrate into an overarching trading strategy, with exit points determined through a separate calculation. This approach allows traders to tailor their entry and exit strategies to their specific trading objectives, leveraging the ProTrend Adaptive for precise market entry while applying customized criteria for exit decisions.
Caution: Trading carries a significant risk of financial loss, and past performance does not guarantee future results. Signals may be conflicting or ambiguous. Employ risk reduction techniques, such as setting stop losses, to mitigate potential losses.
Day Open Line + SMA 8/3 Crossover + BollingerHow Users Can Make Profit Using This Script:
DAYS OPEN LINE:
1.Purpose: Publishing a "Days Open Line" indicator serves to inform customers about the operational schedule of a business or service.
2.Visibility: It ensures that the information regarding the days of operation is easily accessible to current and potential customers.
3.Transparency: By making the operational schedule public, businesses demonstrate transparency and reliability to their customers.
4.Accessibility: The indicator should be published on various platforms such as the business website, social media channels, and physical locations to ensure accessibility to a wide audience.
5.Clarity: The information should be presented in a clear and concise manner, specifying the days of the week the business is open and the corresponding operating hours.
6.Updates: It's important to regularly update the "Days Open Line" indicator to reflect any changes in the operational schedule, such as holidays or special events.
7.Customer Convenience: Providing this information helps customers plan their visits accordingly, reducing inconvenience and frustration due to unexpected closures.
8.Expectation Management: Setting clear expectations regarding the business hours helps manage customer expectations and reduces the likelihood of disappointment or complaints.
9.Customer Service: Publishing the "Days Open Line" indicator demonstrates a commitment to customer service by ensuring that customers have the information they need to engage with the business.
10.Brand Image: Consistently .maintaining and updating the indicator contributes to a positive brand image, as it reflects professionalism, reliability, and a customer-centric approach.
SMA CROSS:
1.This indicator generates buy and sell signals based on the crossover of two Simple Moving Averages (SMA): a shorter 3-day SMA and a longer 8-day SMA.
When the 3-day SMA crosses above the 8-day SMA, it generates a buy signal indicating a potential upward trend.
Conversely, when the 3-day SMA crosses below the 8-day SMA, it generates a sell signal indicating a potential downward trend.
Signal Interpretation:
2.Buy Signal: Generated when the 3-day SMA crosses above the 8-day SMA.
Sell Signal: Generated when the 3-day SMA crosses below the 8-day SMA.
Usage:
3.Traders can use this indicator to identify potential entry and exit points in the market.
Buy signals suggest a bullish trend, indicating a favorable time to enter or hold a long position.
4.Sell signals suggest a bearish trend, indicating a potential opportunity to exit or take a short position.
Parameters:
5.Periods: 3-day SMA and 8-day SMA.
Price: Closing price is commonly used, but users can choose other price types (open, high, low) for calculation.
Confirmation:
6.It's recommended to use additional technical analysis tools or confirmatory indicators to validate signals and minimize false signals.
Risk Management:
7.Implement proper risk management strategies, such as setting stop-loss orders, to mitigate losses in case of adverse price movements.
Backtesting:
8.Before using the indicator in live trading, conduct thorough backtesting to evaluate its effectiveness under various market conditions.
Considerations:
9.While SMA crossovers can provide valuable insights, they may generate false signals during ranging or choppy markets.
Combine this indicator with other technical analysis techniques for comprehensive market analysis.
Continuous Optimization:
10.Monitor the performance of the indicator and adjust parameters or incorporate additional filters as needed to enhance accuracy over time.
BOLLINGER BAND:
1.Definition: A Bollinger Band indicator is a technical analysis tool that consists of a centerline (typically a moving average) and two bands plotted above and below it. These bands represent volatility around the moving average.
2.Purpose: Publishing a Bollinger Band indicator serves to provide traders and investors with insights into the volatility and potential price movements of a financial instrument.
3.Visualization: The indicator is typically displayed on price charts, allowing users to visualize the relationship between price movements and volatility levels.
4.Interpretation: Traders use Bollinger Bands to identify overbought and oversold conditions, potential trend reversals, and volatility breakouts.
5.Components: The indicator consists of three main components: the upper band, lower band, and centerline (usually a simple moving average). These components are calculated based on standard deviations from the moving average.
6.Parameters: Traders can adjust the parameters of the Bollinger Bands, such as the period length and standard deviation multiplier, to customize the indicator based on their trading strategy and preferences.
7.Signals: Bollinger Bands generate signals when prices move outside the bands, indicating potential trading opportunities. For example, a price breakout above the upper band may signal a bullish trend continuation, while a breakout below the lower band may indicate a bearish trend continuation.
8.Confirmation: Traders often use other technical indicators or price action analysis to confirm signals generated by Bollinger Bands, enhancing the reliability of their trading decisions.
9.Education: Publishing Bollinger Band indicators can serve an educational purpose, helping traders learn about technical analysis concepts and how to apply them in real-world trading scenarios.
10.Risk Management: Traders should exercise proper risk management when using Bollinger Bands, as false signals and market volatility can lead to losses. Publishing educational content alongside the indicator can help users understand the importance of risk management in trading.
VWAP:
1.Calculation: VWAP is calculated by dividing the cumulative sum of price times volume traded for every transaction (price * volume) by the total volume traded.
2.Time Frame: VWAP is typically calculated for a specific time frame, such as a trading day or a session.
3.Intraday Trading: It's commonly used by intraday traders to assess the fair value of a security and to determine if the current price is above or below the average price traded during the day.
4.Execution: Institutional traders often use VWAP as a benchmark for executing large orders, aiming to buy at prices below VWAP and sell at prices above VWAP.
5.Benchmark: It serves as a benchmark for traders to evaluate their trading performance. Trades executed below VWAP are considered good buys, while those above are considered less favorable.
6.Sensitivity: VWAP is more sensitive to price and volume changes during periods of high trading activity and less sensitive during periods of low trading activity.
7.Day's End: VWAP resets at the end of each trading day, providing a new reference point for the following trading session.
8.Volume Weighting: The weighting by volume means that prices with higher trading volumes have a greater impact on VWAP than those with lower volumes.
9.Popular with Algorithmic Traders: Algorithmic trading systems often incorporate VWAP strategies to execute trades efficiently and minimize market impact.
10.Limitations: While VWAP is a useful indicator, it's not foolproof. It may lag behind rapidly changing market conditions and may not be suitable for all trading strategies or market conditions. Additionally, it's more effective in liquid markets where there is significant trading volume.
How the Script Works:
1.Utilizes Day Open Line for accurate market entry points.
2.Identifies bullish trends with SMA 3 crossover SMA 8.
3.Signals potential sell opportunities with SMA 8 crossunder SMA 3.
4.Bollinger Bands indicate overbought and oversold conditions.
5.VWAP offers insights into average price levels weighted by volume.
6.Combination of indicators enhances trade confirmation.
7.Facilitates precise timing for buy and sell decisions.
8.Enables traders to capitalize on market volatility.
9.Empowers users to navigate dynamic market conditions.
10.Supports profitable trading strategies with comprehensive analysis.
11.It is known when the market is sideways.
Smart Money Concepts [UAlgo]🔶 Description:
Smart Money Concepts (SMC) refer to a trading strategy that revolves around understanding and following the actions of institutional investors, such as banks and hedge funds, who are considered the “smart money” in the market. The concept is based on the idea that these institutions have more information and resources, and thus their market activities can indicate future market movements.
This script designed to be a tool that will automatically provide many features related to SMC concept for investors, offering a market structure analysis that includes the identification of order blocks, breaker blocks, and liquidity points. It also delineates premium and discount zones, highlights Fair Value Gaps (FVG), Volume Imbalance (VI) and Order Gap (OG) areas, providing users with a multifaceted view of market dynamics.
🔶 Key Features:
Market Structure Analysis : Simplifies the overview of market behavior, identifies market breakouts or trend continuation.
It detects the market structure as shown in the image below :
Order Blocks : Detects Order Blocks based on market structure analysis and volume characteristics. It draws these blocks and provides information such as volume.
Order Block Identification:
Breaker Blocks : Detects Breaker Blocks based on market structure analysis.
Breaker Block Identification:
When Order Block above is broken,
As you can see, it has now turned into a Bearish Breaker Block,
And it seems that the price is getting a reaction from this breaker block above.
Liquidity Sweeps : Tracks liquidity sweeps on both the buy and sell sides, offering traders a perspective on market momentum and potential shifts.
Multi-Timeframe Fair Value Gap (FVG), Volume Imbalance (VI), Order Gaps (OG) Detection : Detects Fair Value Gap (FVG), Volume Imbalance (VI) and Order Gaps (OG) based on different criteria such as price movements and volume characteristics. It marks these gaps/voids and provides visual cues for analysis.
Examle for FVG:
Premium & Discount Zone Analysis : Analyzes premium and discount zones, showing prices within these zones and highlighting equilibrium (0.5) levels.
Customizable Options : Provides various input parameters for customization, such as market structure length, sensitivity settings, display preferences, and mitigation methods.
Previous Key Levels : Identifies previous key levels include previous highs, lows, equilibrium points, and open prices across different timeframes such as daily, weekly, and monthly.
🔶 Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Pro Divergence Adaptive [regular + hidden] by TradingClue🔴 Overview 🔴
ProDivergence Adaptive is a versatile tool designed to identify regular and hidden divergences , including regular divergences from higher timeframes , on any given chart.
This indicator combines two major approaches of identifying divergences:
- Using price-action , identification of higher-highs, higher-lows etc.
- Using a statistical model (linear regression) to determine the direction of movements
To be more sensitive to the current market conditions, both were implemented in an adaptive way.
🔴 How the mechanics and calculations work 🔴
✅ short recap on what divergences are
Regular divergences occur when the price moves opposite to a selected oscillator, signaling potential trend reversals. They can be spotted on higher timeframes, providing stronger confirmation for potential reversals when aligned with signals on the current timeframe.
Hidden divergences indicate trend continuation. Combining these on various timeframes provides a more comprehensive analysis for traders to identify entry or exit points in the market
✅ Price Action
A regular bullish divergence happens when the price of an asset is forming lower lows, while the oscillator is forming higher lows.
A regular bearish divergence occurs when the price of an asset is forming higher highs, while the oscillator is forming lower highs
A hidden bullish divergence happens when the price of an asset is making higher lows during an uptrend, but the oscillator is making lower lows.
A hidden bearish divergence occurs when the price of an asset is making lower highs during a downtrend, but the oscillator is making higher highs.
"Lows" are signaled by a minimum value that is surrounded by higher low values.
"Highs" are signaled by a maximum value that is surrounded by lower high values.
Since there is no smoothing involved, there is only minimal lag.
✅ Statistical Model
When using linear regression to identify divergences between the price of an asset and an oscillator, we apply a statistical approach to find trends in the data. This method allows for a more nuanced detection of divergences, as it considers the overall direction of price points and oscillator values rather than individual highs and lows.
Regular Bullish Divergence: Occurs when the linear regression of the asset's price shows a downward trend while the linear regression of the oscillator indicates an upward trend.
Regular Bearish Divergence: Happens when the linear regression of the asset's price is upward but the linear regression of the oscillator is downward.
Hidden Bullish Divergence: Identified when, during an uptrend, the linear regression of the price is upward, but the linear regression of the oscillator trends downward.
Hidden Bearish Divergence: Occurs when, during a downtrend, the linear regression of the price trends downward, but the linear regression of the oscillator is upward.
Using linear regression smooths out fluctuations and focuses on the overall trend direction of both price and oscillator, reducing the impact of short-term volatility and providing a clearer view of the market's momentum.
✅ Adaptive Approach
Traditional oscillator settings do not account for changes in market volatility, leading to potential misalignment with current market conditions. This can result in either too many false signals during high volatility periods or missed opportunities in lower volatility settings due to the oscillator's static nature.
The adaptive approach adjusts the oscillator's settings based on the Average True Range (ATR), a measure of market volatility. By dynamically altering the oscillator length in relation to the current ATR value compared to its historical range, the settings become responsive to the market's volatility.
This adaptive method enhances the detection of meaningful divergences between price and oscillator movements by ensuring the oscillator is finely tuned to the current market environment. It results in a more accurate identification of potential reversal points, crucial for the success of divergence-based trading strategies.
🔴 Key Features 🔴
Identifies regular and hidden divergences
Multi-Timeframe Analysis
Adaptive Oscillator Configuration, level of adaptiveness can be adjusted
Supported Oscillators: CCI, Momentum, RSI
Boundaries for the dynamic length of the oscillator can be applied
Works for all kinds of assets (Forex, Stocks, Crypto, Commodities, Futures, ...)
Works on all timeframes
🔴 Examples 🔴
✅ Canadian Dollar / Japanese Yen, 4H Chart, FX:CADJPY
Divergences of Price vs CCI. The adaptive/ dynamic length of the CCI can range between 5 and 12.
✅ Bitcoin / U.S. Dollar, 2H Chart BITSTAMP:BTCUSD
Divergences of Price vs Momentum. The adaptive/ dynamic length of the Momentum can range between 4 and 13.
Caution: Trading carries a significant risk of financial loss, and past performance does not guarantee future results. Signals may be conflicting or ambiguous. Employ risk reduction techniques, such as setting stop losses, to mitigate potential losses.
FreedX Backtest Plus█ Our new FreedX Backtest PLUS template enhances TradingView backtesting with smart features like Mean Reversion, Flexible Volatility, Liquidation Filter, and Better Trend Filtering, making strategies more effective. It lets users set up automated alerts easily. This guide explains how to make the most of these improved features.
The Trading Date Settings feature in our TradingView script allows you to refine their backtesting parameters by specifying trading dates and hours. This feature enhances the accuracy of the backtest by aligning it with specific time frames and days, ensuring that the strategy is tested under relevant market conditions.
Features:
⚙️ Enable Trading Between Specific Dates:
🎯 Purpose:
→ Allows you to limit the backtesting of their strategy to a specific date range.
💡 How to Use:
→ Input the Start Date and End Date for the backtest period.
→ The script will execute the strategy only within this specified date range.
⚙️ Enable Trading Between Specific Hours:
🎯 Purpose:
→ Allows you to limit the backtesting of their strategy to a specific hour range.
💡 How to Use:
→ Input the start and end hour for in Trading Session section.
→ The script will execute the strategy only within this specified hour range.
⚙️ Enable Trading on Specified Days of the Week:
🎯 Purpose:
→ Gives you the option to conduct backtesting on selected days of the week, tailoring the strategy to particular market behaviours that may occur on these days.
💡 How to Use:
→ Select the days of the week for the backtest.
→ The script will activate the trading strategy only on these chosen days.
█ BUY/SELL TRIGGER SETTINGS
The Buy/Sell Trigger Settings feature is designed to provide users with flexibility in defining the conditions for 'LONG' and 'SHORT' signals based on various indicator types. This customization is crucial for tailoring strategies to different trading styles and market conditions.
Features:
⚙️ Single-Line Plotted Indicators :
🎯 Purpose:
→ Enables you to select a single-line plotted indicator as a source for backtesting. You can define specific levels to trigger 'LONG' or 'SHORT' signals.
💡 How to Use:
→ Choose a Single-Line Plotted indicator as the source.
→ Set the top and bottom levels for the indicator.
→ The script triggers 'LONG' signals at the bottom level and 'SHORT' signals at the top level.
⚙️ Two-Line Plotted Indicators :
🎯 Purpose:
→ Allows backtesting with two-line cross plot sources. Signals are generated based on the crossover of these lines.
💡 How to Use:
→ Select two lines as 'Source 1' and 'Source 2' for the indicator.
→ The script triggers a 'LONG' signal when 'Source 1' crosses above 'Source 2'.
→ Conversely, a 'SHORT' signal is triggered when 'Source 2' crosses above 'Source 1'.
⚙️ Custom Signals :
🎯 Purpose:
→ This setting enables users to define their own criteria for LONG, SHORT, and CLOSE signals based on custom indicator outputs.
💡 How to Use:
→ Select the custom source for your signals.
→ Define the output values that correspond to each signal type (e.g., “1” for 'LONG', “-1” for SHORT, and “0” for CLOSE).
→ The script will trigger signals according to these custom-defined values.
█ TP/SL SETTINGS
The TP/SL (Take Profit/Stop Loss) Settings feature is designed to give users control over their profit securing and risk mitigation strategies. This feature allows for setting custom TP and SL levels, which can be critical in managing trades effectively.
Features:
Custom TP/SL Levels for Long/Short Signals:
🎯 Purpose:
→ Enables users to set specific percentage levels for Take Profit and Stop Loss on long and short signals.
💡 How to Use:
→ In the TP/SL Settings, input the desired percentage for Take Profit (TP) and Stop Loss (SL).
→ For example, to secure a profit at a 10% price increase on LONG signals, set the “Long TP Percentage” to “10”.
█ STRATEGY SETTINGS
Strategy Settings provide a range of options to customize the trading strategy. These settings include leverage, position direction changes, and more, allowing users to tailor their strategy to their risk tolerance and market view.
Features:
⚙️ Enable Reverse Position:
🎯 Purpose:
→ Automatically closes a current position and opens a new one in the opposite direction upon detecting a signal for a market trend change.
🎯 Example:
→ If a LONG signal is received while in a SHORT position, the script will close the SHORT position and open a LONG position.
💡 How to Use:
→ Activate this feature in the Strategy Settings.
⚙️ Enable Spot Mode:
🎯 Purpose:
→ Disables short orders, using short signals only for closing long positions.
💡 How to Use:
→ Select the 'Spot Mode' option in the Strategy Settings.
⚙️ Enable Invert Signals:
🎯 Purpose:
→ Inverts all indicator signals, changing LONG signals to SHORT and vice versa.
💡 How to Use:
→ Opt for the 'Invert Signals' feature in the Strategy Settings.
⚙️ Enable Trailing Stop:
🎯 Purpose:
→ Triggers a trailing stop order on the exchange instead of a standard stop market order.
☢️ Caution:
→ The backtesting of this feature on TradingView may not accurately reflect actual strategy performance due to discrepancies between TradingView and exchange mechanisms.
💡 How to Use:
→ Select 'Trailing Stop' in the Strategy Settings.
⚙️ Enable Realistic TP & SL:
🎯 Purpose:
→ Goal is protect the user from unrealistic stop loss and take profit prices in live exchange trading conditions.
→ That feature continuously checks the take profit, stop loss and move stop loss prices to prevent unrealistic values. It changes their values according to (minimum realistic percent %)
💡 How to Use:
→ Select 'Enable Realistic TP & SL' in the Strategy Settings. Write min allowed percents.
█ LIMITER SETTINGS
Limiter Settings provide a range of options to customize the trading strategy. These settings include drawdown limits,contract limit, tradable ratio, for allowing users to tailor their strategy to their risk tolerance and market view.
⚙️ Leverage :
🎯 Purpose:
→ Allows users to apply leverage to their trades.
☢️ Caution:
→ High leverage can significantly increase the risk of liquidation.
→ High leverage and a high stop-loss price may override your fixed stoploss percentage, adjusting the stop-loss to the liquidation price.
💡 How to Use:
→ Set the desired leverage ratio in the Strategy Settings.
⚙️ Drawdown Limit:
🎯 Purpose:
→ Sets a maximum drawdown limit, automatically halting the strategy if this limit is reached, thereby controlling risk.
💡 How to Use:
→ Input the maximum drawdown limit (default: 100, min: 0, max: 100).
⚙️ Contract Limit:
🎯 Purpose:
→ Sets a maximum contract limit, beyond which the compound effect cannot be used. This is important to prevent market manipulation through large-volume orders.
💡 How to Use:
→ Input the maximum contract limit (min: 0).
⚙️ Tradable Ratio:
🎯 Purpose:
→ Sets a tradable ratio, it uses that ratio calculating entry cost for position. Main purpose is cash-out and cash-in according to balance change.
💡 How to Use:
→ Input the tradable ratio percent (default: 98, min: 0.1, max: 100).
█ CASH-OUT SETTINGS
Cash-Out Settings offer a money-saving mechanism that prevents entering positions with the entire balance due to cashed-out funds. It functions with a webhook alerts, but the 'Override Allocation %' option must be enabled.
⚙️ Cash-out Threshold %:
🎯 Purpose:
→ It is cash-out mechanism, it saves money with a target threshold.
💡 How to Use:
→ Input the threshold (min: 0).
⚙️ Cash-out Per Profitable Trades %:
🎯 Purpose:
→ It is cash-out mechanism, it saves money from every trade with a percent like commission.
💡 How to Use:
→ Input save percent% (min: 0).
█ ADAPTIVE VOLATILITY STRATEGY SETTINGS
Advanced Strategy Settings offer sophisticated methods for managing Stop Loss (SL) and Take Profit (TP) using the Average True Range (ATR). These settings are ideal for traders who want to incorporate volatility into their exit strategies.
Features:
⚙️ Enable ATR Stop Loss:
🎯 Purpose:
→ Automatically sets the Stop Loss price using the Average True Range at the time of entry.
💡 How to Use:
→ Activate 'ATR Stop Loss' to have the SL price calculated based on the current ATR.
⛓ Enable ATR Trailing Stop:
→ Dynamically updates the Stop Loss price with each new bar, according to the Average True Range.
→ Activate 'ATR Trailing Stop'.
→ Set the ATR Period to define the number of bars for ATR calculation.
→ Adjust the ATR SL Multiplier to determine the stop loss distance.
→ Modify the ATR TP Multiplier for setting the take profit distance.
⚙️ Enable ATR Take Profit:
🎯 Purpose:
→ Sets the Take Profit price based on the Average True Range at the time of entry.
💡 How to Use:
→ Choose 'ATR Take Profit' for TP price determination using ATR.
⚙️ Enable ATR Limit Entry:
🎯 Purpose:
→ Trade can not open in candle close price. Price should hit target price that based on average true range value.
💡 How to Use:
→ Choose 'ATR Limit Entry' for entry price determination using ATR.
⛓ Enable ATR Limit Entry Trailing Price:
→ Dynamically updates the entry price with each new bar, according to the Average True Range.
→ Activate 'ATR Limit Entry Trailing Price'.
→ Set the ATR Period to define the number of bars for ATR calculation.
→ Adjust the ATR SL Multiplier to determine the stop loss distance.
→ Modify the ATR TP Multiplier for setting the take profit distance.
█ TREND FILTERING SETTINGS
Trend Filtering Settings are designed to align trading strategies with the prevailing market trend, enhancing the precision of trade entries and exits. These settings utilize moving averages for trend analysis and decision-making.
Features:
⚙️ Enable Moving Average Filtering:
🎯 Purpose:
→ Limits trades based on moving average trends, blocking short trades in an uptrend and vice versa.
💡 How to Use:
→ Enable 'Trend Filtering'.
→ Set Fast and Slow MA Lengths for trend analysis.
→ Select the Timeframe for moving averages.
→ Choose the Moving Average Type for trend filtering.
🎯 Note:
→ Be cautious with timeframe selections; lower timeframes than the base may cause inconsistencies.
⛓ Exit on Trend Reversal:
→ Automatically closes a position when a market trend reversal is detected.
→ Turn on 'Exit on Trend Reversal' in the settings.
⛓ Ignore Counter Signals:
→ Ignores counter signals during trending market way.
→ If the trend way is long. All short signals will ignore and vice versa.
⛓ Enable Drawing On Chart:
→ Visually represents the trend filter directly on the chart for easy reference.
→ Activate 'Drawing On Chart' to see the trend filter overlaid on the trading chart.
⚙️ Enable Adx Filtering:
🎯 Purpose:
→ Limits trades based on adx value, blocking trades if trend strength is not enough or vice versa for invert mode.
💡 How to Use:
→ Enable 'Adx Filtering'.
→ Set Smoothing and Lengths for adx trend analysis.
→ Select level barrier for trend strength.
⚙️ Enable Custom Filtering:
🎯 Purpose:
→ Limits trades based on custom sources, blocking trades according to custom trades.
💡 How to Use:
→ Enable 'Custom Filtering'.
→ Select fast source.
→ Select slow source.
→ Enable lag mode.
█ MEAN REVERSION FILTERING SETTINGS
Mean Reversion Filtering Settings are designed to align trading strategies during accumulation market conditions. They set a distance from a line to permit trading. The purpose is to ensure that when the price strays too far from the mean line, it should revert back. In accumulation markets, price movements are generally horizontal. In such situations, mean reversion will operate like a grid, enabling profitable trades with low drawdown. However, when the market structure begins to trend, mean reversion filters may not be as profitable as in accumulation markets. For instance, let's say the price is rising and we are shorting the market until it reaches the mean price line. As the price goes up and the mean also rises, we will end up closing the position at a higher price, rendering the mean reversion system non-profitable. Therefore, consider this filter wisely; greater distances might work better in trending markets.
Features:
⚙️ Enable Kairi Filter:
🎯 Purpose:
→ Blocks trades based on distance percent between price and moving average.
💡 How to Use:
→ Enable 'Kairi Filter'.
→ Set Length and Distance Percent.
⛓ Enable Trend Drawing On Chart:
→ Visually represents the trend filter directly on the chart for easy reference.
→ Enable 'Drawing On Chart' to see the allowed regions overlaid on the trading chart with arrows.
⚙️ Enable VWAP Filter:
🎯 Purpose:
→ Blocks trades based on distance percent between price and volume weighted average price.
💡 How to Use:
→ Enable 'VWAP Filter'.
→ Set Timeframe as minutes and distance as percent.
⛓ Exit on Crossing with VWAP:
→ Automatically closes a position when the closing price of a candle crosses the VWAP.
→ Choose "Enable", 'Exit on Crossing with VWAP' in the settings.
⛓ Enable Drawing On Chart:
→ Visually represents the trend filter directly on the chart for easy reference.
→ Enable 'Drawing On Chart' to see the allowed regions overlaid on the trading chart with arrows.
█ LIQUIDATION FILTER SETTINGS
Liquidation filter compares the volume data of futures and spot markets.
Large differences in volume indicate unexpected market conditions, such as massive trading activities, which may signal liquidations.
Features:
⚙️ Enable Liquidation Filter:
🎯 Purpose:
→ Blocks trades based on extra ordinary volume differences in spot and futures market.
💡 How to Use:
→ Enable 'Liquidation Filter'.
→ Set behavior to react during that market conditions.
→ Set base amount to filter volume. This amount changes according to timeframe, you should find right amounts.
→ Liquidation candle count means, it is sum of liquidated candle count in last 20 bars.If you set 0, it means feature is disabled.
→ Detection, try to select the spot and perpetual symbols automatically, symbol names varies, it do not support all symbols, you should choose manually in that situation.
█ AUTOMATED ALERT SETTINGS
Automated Alert Settings are designed to integrate your TradingView script with webhook alerts. These settings allow for enhanced strategy execution and management.
Features:
Enable Webhook Alerts:
🎯 Purpose:
→ Trigger BUY, SELL, CHANGE_DIRECTION or MOVE_STOP_LOSS .
💡 How to Use:
→ Enable 'Webhook Alerts' in the settings.
→ Enter your Strategy Key.
→ Optionally, activate 'Override Allocation Percentage' to bypass the preset allocation percentage.
☢️ Caution:
→ Overriding the allocation percentage may result in trade entry errors due to misalignment between entry cost and available balance.
Enable Custom Alerts:
🎯 Purpose:
→ User can produce unique messages for different purposes.
💡 How to Use:
→ Enable 'Custom Alerts' in the settings.
→ Enter your message format type.
█ DEBUGGING SETTINGS
Debugging Settings are crucial for users who want to analyze and optimize their strategies. These settings provide tools for visualizing alerts on charts and accessing detailed data outputs.
Features:
⚙️ Enable Alert Plotting:
🎯 Purpose:
→ Allows users to visualize trading alerts directly on the chart, aiding in strategy analysis and refinement.
💡 How to Use:
→ Activate 'Alert Plotting' to draw alerts on the chart.
☢️ Caution:
→ It is recommended to disable this feature when creating actual trading alerts, as it can cause latency in signal processing.
⚙️ Enable Debugger Mode:
🎯 Purpose:
→ Facilitates strategy debugging by providing detailed data output in the TradingView Data Window.
💡 How to Use:
→ Turn on 'Debugger Mode' to access real-time data and metrics relevant to your strategy.
⚙️ Enable Table:
🎯 Purpose:
→ Facilitates strategy debugging by providing detailed data output in the TradingView Table on chart.
💡 How to Use:
→ Turn on 'Table' to access last closed candle data and metrics relevant to your strategy.
█ ADDITIONAL SETTINGS
⚙️ Enable Bar Magnifier
⚙️ Enable Using standard OHLC
WaveTrendnel Oscillator [UAlgo]🔶Description:
The WaveTrendnel Oscillator, is a technical analysis tool designed for traders to identify potential trend reversals and overbought/oversold conditions in the market. It combines the concepts of wave analysis and trend analysis to generate signals based on the current market conditions. This indicator aims to provide traders with insights into the strength and direction of the prevailing trend, facilitating better decision-making in trading strategies.
🔶Key Features:
Customizable Parameters: Users can customize various parameters including the source data, channel length, average length, and signal length according to their trading preferences and market conditions.
Signal Display: The indicator offers the option to display buy and sell signals on the chart, helping traders to visually identify potential entry and exit points.
Wave and Kernel Analysis: The WaveTrendnel Oscillator utilizes a rational quadratic kernel function, which applies a mathematical approach known as the kernel method. This method analyzes historical price data by assigning weights to each data point based on its proximity to the current period, providing a smoother and more accurate representation of market trends.
Overbought/Oversold Levels: Traders can define overbought and oversold levels using customizable threshold parameters, enabling them to identify potential reversal points in the market.
🔶Credit:
The WaveTrendnel Oscillator indicator is a modification of the original WaveTrend Oscillator developed by @LazyBear on TradingView.
🔶Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
U-Oscillator Pro [UAlgo]The U-Oscillator Pro is a comprehensive technical analysis tool designed to assist traders in making informed decisions in financial markets. This indicator integrates various features including oscillator, bands, trend clouds divergences, and confluence signals to provide a comprehensive view of market dynamics.
🔶 Oscillator :
U-Oscillator uses an amalgamation of price, momentum, and volatility elements to provide a comprehensive market view. It provides a common output about the market and is easy to use.
Oscillator Features :
Customizable Oscillator Length : This parameter sets the length of the oscillator.
Use Machine Learning On Oscillator Calculation : By evaluating the output of the oscillator, this data set calculates a weighted average of the data set by taking each point with a certain weight and using these weights. This is often used in situations where some data points are more important or need to have more impact than others. A weight for each point that the oscillator calculates may represent the importance or impact of that point. By including all these calculations in the oscillator, it provides a result.
Reversal Signals : Determines whether to display reversal signals on the chart. When set to true, it enables the plotting of reversal signals based on certain conditions for both long (buy) and short (sell) signals. These signals can be interpreted as "potential" turning points of the market. Signals are represented by small shapes on the chart, with green indicating short (sell) signals and red indicating long (buy) signals.
🔶 Extreme Bands:
These regions can be described as the possible reversal regions of the price and obtained by deviations of oscillator values.
Extreme Bands Features:
Band Length : Determines the length of the bands.
Show Extreme Bands : Option to display the extreme bands.
Show Middle Line : Option to show the middle line.
Transparency Mode : Adjust the transparency level of the bands.
It would not be wrong to consider it as potential overbought and oversold regions.
Example:
🔶 Divergences :
The divergence calculation in this script identifies potential reversals by analyzing pivot points in the oscillator. Here's how it works:
Divergence Features :
Pivot Length: The user specifies the length of the divergence calculation (pivotLength), which determines the number of bars to consider for pivot analysis.
Pivot Identification: The script searches for pivot highs and lows within the specified length. These pivots indicate potential turning points in the oscillator.
Divergence Conditions: Different conditions are evaluated based on the identified pivots to determine the presence of bullish or bearish divergences:
Regular Bullish Divergence: Occurs when the oscillator makes a lower low while the price makes a higher low.
Hidden Bullish Divergence: Occurs when the oscillator makes a higher low while the price makes a lower low.
Regular Bearish Divergence: Occurs when the oscillator makes a higher high while the price makes a lower high.
Hidden Bearish Divergence: Occurs when the oscillator makes a lower high while the price makes a higher high.
Visualization: Detected divergences are plotted on the chart using shapes and lines, indicating potential reversal points. Users can choose which types of divergences to display using input options.
🔶 Trend Cloud :
This section can provide information about the long-term direction of the price and the current status of the trend. The increase in the visibility of the cloud can provide information about the strength of the trend.
Trend Cloud Features :
Show Trend Cloud: This setting allows you to choose whether the trend cloud is displayed on the chart or not.
Fast Trend Cloud Mode: This feature can be used to provide information about the cloud's shorter-term trend and its strength.
Classic Mode of Trend Cloud :
Fast Mode of Trend Cloud :
🔶 Confluence :
This section of the script aims to identify potential reversal confluences based on the deviation between the price and a combination of oscillator values. The confluence signals are categorized into light and heavy, representing different levels of potential reversal strength.
Confluence Features :
Show Light/Heavy Reversal Confluences: This setting allows users to control the visibility of the confluence signals on the chart.
Confluence Term: Users can select the term for calculating the confluence, which in turn affects the sensitivity of the confluence signals. The available options are Short, Medium, and Long.
Confluence Signal Conditions:
Light Bearish Reversal Confluence: This type of confluence occurs when there is a moderate deviation between the price and the oscillator values, indicating a potential shift towards a bearish reversal in the market sentiment.
Heavy Bearish Reversal Confluence: In contrast, a heavy bearish reversal confluence signifies a significant deviation between the price and the oscillator values, suggesting a strong indication of a bearish reversal in the market sentiment.
Light Bullish Reversal Confluence: Similar to light bearish reversal confluence, light bullish reversal confluence occurs with a moderate deviation between the price andthe oscillator values, indicating a potential shift towards a bullish reversal in the market sentiment.
Heavy Bullish Reversal Confluence: On the other hand, heavy bullish reversal confluence indicates a substantial deviation between the price andthe oscillator values, suggesting a strong indication of a bullish reversal in the market sentiment.
Plotting Confluence Signals: Shapes (triangles) are plotted on the chart to indicate the presence of confluence signals. Red triangles denote bearish signals, while green triangles denote bullish signals.
This confluence analysis provides traders with additional insights into potential reversal points or helping them make more informed trading decisions.
Example For Confluence :
🔶 Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Liquidation Longs/Shorts [UAlgo]🔶Description:
The "Liquidation Longs/Shorts " indicator is designed to identify potential liquidation levels for long and short positions. It calculates the distance of the selected price source (close, high, low, or open) from two moving averages (MA) and plots the resulting values on the chart. When the price is at an extreme distance from the moving averages, it suggests a potential liquidation point for either long or short positions.
🔶Key Features:
Liquidation Calculations: The indicator calculates the distance of the selected price source from two moving averages: a simple moving average (SMA) and an exponential moving average (EMA) with customizable lengths.
Color Customization: Users can customize the colors of the plotted columns representing the distance from the moving averages for long and short liquidation levels.
Liquidation Circles: The indicator marks potential liquidation levels with small circles on the chart, with customizable colors for long and short liquidations.
Orange Circles -> Identifies Potential Short Liquidations
Aqua Circles -> Identifies Potential Long Liquidations
Example:
Adaptive Source Selection: Traders can select the price source (close, high, low, or open) for liquidation calculations, allowing flexibility based on their trading strategies.
Dynamic Threshold Calculation: The indicator dynamically adjusts the liquidation threshold based on the selected moving average lengths, providing adaptability to changing market conditions.
Disclaimer:
Use with Caution: This indicator is provided for educational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
This indicator serves as a tool to assist traders in identifying potential liquidation levels, but it should be used in conjunction with other technical analysis tools and risk management practices for effective trading decision-making.
FreedX Backtest█ Our strategy template empowers TradingView users to effortlessly backtest any indicator, enhancing their trading strategy's effectiveness. In addition, users can create automated webhook alerts from the template. This document details our template's features and how to utilize them effectively.
█ TRADE DATE SETTINGS
The Trading Date Settings feature in our TradingView script allows you to refine their backtesting parameters by specifying trading dates and hours. This feature enhances the accuracy of the backtest by aligning it with specific time frames and days, ensuring that the strategy is tested under relevant market conditions.
Features:
⚙️ Enable Trading Between Specific Dates:
🎯 Purpose:
→ Allows you to limit the backtesting of their strategy to a specific date range.
💡 How to Use:
→ Input the Start Date and End Date for the backtest period.
→ The script will execute the strategy only within this specified date range.
⚙️ Enable Trading Between Specific Hours:
🎯 Purpose:
→ Allows you to limit the backtesting of their strategy to a specific hour range.
💡 How to Use:
→ Input the start and end hour for in Trading Session section.
→ The script will execute the strategy only within this specified hour range.
⚙️ Enable Trading on Specified Days of the Week:
🎯 Purpose:
→ Gives you the option to conduct backtesting on selected days of the week, tailoring the strategy to particular market behaviours that may occur on these days.
💡 How to Use:
→ Select the days of the week for the backtest.
→ The script will activate the trading strategy only on these chosen days.
█ BUY/SELL TRIGGER SETTINGS
The Buy/Sell Trigger Settings feature is designed to provide users with flexibility in defining the conditions for 'LONG' and 'SHORT' signals based on various indicator types. This customization is crucial for tailoring strategies to different trading styles and market conditions.
Features:
⚙️ Single-Line Plotted Indicators :
🎯 Purpose:
→ Enables you to select a single-line plotted indicator as a source for backtesting. You can define specific levels to trigger 'LONG' or 'SHORT' signals.
💡 How to Use:
→ Choose a Single-Line Plotted indicator as the source.
→ Set the top and bottom levels for the indicator.
→ The script triggers 'LONG' signals at the bottom level and 'SHORT' signals at the top level.
⚙️ Two-Line Plotted Indicators :
🎯 Purpose:
→ Allows backtesting with two-line cross plot sources. Signals are generated based on the crossover of these lines.
💡 How to Use:
→ Select two lines as 'Source 1' and 'Source 2' for the indicator.
→ The script triggers a 'LONG' signal when 'Source 1' crosses above 'Source 2'.
→ Conversely, a 'SHORT' signal is triggered when 'Source 2' crosses above 'Source 1'.
⚙️ Custom Signals :
🎯 Purpose:
→ This setting enables users to define their own criteria for LONG, SHORT, and CLOSE signals based on custom indicator outputs.
💡 How to Use:
→ Select the custom source for your signals.
→ Define the output values that correspond to each signal type (e.g., “1” for 'LONG', “-1” for SHORT, and “0” for CLOSE).
→ The script will trigger signals according to these custom-defined values.
█ TP/SL SETTINGS
The TP/SL (Take Profit/Stop Loss) Settings feature is designed to give users control over their profit securing and risk mitigation strategies. This feature allows for setting custom TP and SL levels, which can be critical in managing trades effectively.
Features:
Custom TP/SL Levels for Long/Short Signals:
🎯 Purpose:
→ Enables users to set specific percentage levels for Take Profit and Stop Loss on long and short signals.
💡 How to Use:
→ In the TP/SL Settings, input the desired percentage for Take Profit (TP) and Stop Loss (SL).
→ For example, to secure a profit at a 10% price increase on LONG signals, set the “Long TP Percentage” to “10”.
█ STRATEGY SETTINGS
Strategy Settings provide a range of options to customize the trading strategy. These settings include leverage, drawdown limits, position direction changes, and more, allowing users to tailor their strategy to their risk tolerance and market view.
Features:
⚙️ Enable Leverage :
🎯 Purpose:
→ Allows users to apply leverage to their trades.
☢️ Caution:
→ High leverage can significantly increase the risk of liquidation.
→ High leverage and a high stop-loss price may override your fixed stoploss percentage, adjusting the stop-loss to the liquidation price.
💡 How to Use:
→ Set the desired leverage ratio in the Strategy Settings.
⚙️ Enable Drawdown Limit:
🎯 Purpose:
→ Sets a maximum drawdown limit, automatically halting the strategy if this limit is reached, thereby controlling risk.
💡 How to Use:
→ Input the maximum drawdown limit (default: 100, min: 0, max: 100).
⚙️ Enable Reverse Position:
🎯 Purpose:
→ Automatically closes a current position and opens a new one in the opposite direction upon detecting a signal for a market trend change.
🎯 Example:
→ If a LONG signal is received while in a SHORT position, the script will close the SHORT position and open a LONG position.
💡 How to Use:
→ Activate this feature in the Strategy Settings.
⚙️ Enable Spot Mode:
🎯 Purpose:
→ Disables short orders, using short signals only for closing long positions.
💡 How to Use:
→ Select the 'Spot Mode' option in the Strategy Settings.
⚙️ Enable Invert Signals:
🎯 Purpose:
→ Inverts all indicator signals, changing LONG signals to SHORT and vice versa.
💡 How to Use:
→ Opt for the 'Invert Signals' feature in the Strategy Settings.
⚙️ Enable Trailing Stop:
🎯 Purpose:
→ Triggers a trailing stop order on the exchange instead of a standard stop market order.
☢️ Caution:
→ The backtesting of this feature on TradingView may not accurately reflect actual strategy performance due to discrepancies between TradingView and exchange mechanisms.
💡 How to Use:
→ Select 'Trailing Stop' in the Strategy Settings.
█ ADVANCED STRATEGY SETTINGS
Advanced Strategy Settings offer sophisticated methods for managing Stop Loss (SL) and Take Profit (TP) using the Average True Range (ATR). These settings are ideal for traders who want to incorporate volatility into their exit strategies.
Features:
⚙️ Enable ATR Stop Loss:
🎯 Purpose:
→ Automatically sets the Stop Loss price using the Average True Range at the time of entry.
💡 How to Use:
→ Activate 'ATR Stop Loss' to have the SL price calculated based on the current ATR.
⚙️ Enable ATR Take Profit:
🎯 Purpose:
→ Sets the Take Profit price based on the Average True Range at the time of entry.
💡 How to Use:
→ Choose 'ATR Take Profit' for TP price determination using ATR.
⚙️ Enable ATR Trailing Stop:
🎯 Purpose:
→ Dynamically updates the Stop Loss price with each new bar, according to the Average True Range.
💡 How to Use:
→ Activate 'ATR Trailing Stop'.
→ Set the ATR Period to define the number of bars for ATR calculation.
→ Adjust the ATR SL Multiplier to determine the stop loss distance.
→ Modify the ATR TP Multiplier for setting the take profit distance.
█ TREND FILTERING SETTINGS
Trend Filtering Settings are designed to align trading strategies with the prevailing market trend, enhancing the precision of trade entries and exits. These settings utilize moving averages for trend analysis and decision-making.
Features:
⚙️ Enable Trend Filtering:
🎯 Purpose:
→ Limits trades based on moving average trends, blocking short trades in an uptrend and vice versa.
💡 How to Use:
→ Enable 'Trend Filtering'.
→ Set Fast and Slow MA Lengths for trend analysis.
→ Select the Timeframe for moving averages.
→ Choose the Moving Average Type for trend filtering.
🎯 Note:
→ Be cautious with timeframe selections; lower timeframes than the base may cause inconsistencies.
⚙️ Enable Exit on Trend Reversal:
🎯 Purpose:
→ Automatically closes a position when a market trend reversal is detected.
💡 How to Use:
→ Turn on 'Exit on Trend Reversal' in the settings.
⚙️ Enable Trend Drawing On Chart:
🎯 Purpose:
→ Visually represents the trend filter directly on the chart for easy reference.
💡 How to Use:
→ Activate 'Trend Drawing On Chart' to see the trend filter overlaid on the trading chart.
█ AUTOMATED ALERT SETTINGS
Automated Alert Settings are designed to integrate your TradingView script with webhook alerts. These settings allow for enhanced strategy execution and management.
Features:
Enable Webhook Alerts:
🎯 Purpose:
→ Trigger BUY, SELL, CHANGE_DIRECTION or MOVE_STOP_LOSS .
💡 How to Use:
→ Enable 'Webhook Alerts' in the settings.
→ Enter your Strategy ID.
→ Optionally, activate 'Override Allocation Percentage' to bypass the preset allocation percentage.
☢️ Caution:
→ Overriding the allocation percentage may result in trade entry errors due to misalignment between entry cost and available balance.
█ DEBUGGING SETTINGS
Debugging Settings are crucial for users who want to analyze and optimize their strategies. These settings provide tools for visualizing alerts on charts and accessing detailed data outputs.
Features:
⚙️ Enable Alert Plotting:
🎯 Purpose:
→ Allows users to visualize trading alerts directly on the chart, aiding in strategy analysis and refinement.
💡 How to Use:
→ Activate 'Alert Plotting' to draw alerts on the chart.
☢️ Caution:
→ It is recommended to disable this feature when creating actual trading alerts, as it can cause latency in signal processing.
⚙️ Enable Debugger Mode:
🎯 Purpose:
→ Facilitates strategy debugging by providing detailed data output in the TradingView Data Window.
💡 How to Use:
→ Turn on 'Debugger Mode' to access real-time data and metrics relevant to your strategy.
█ ADDITIONAL SETTINGS
⚙️ Enable Bar Magnifier
⚙️ Enable Using standard OHLC
Portfolio HeatThe "Portfolio Heat" indicator offers a visual representation of potential risk exposure for a portfolio across up to eight different symbols. It dynamically calculates three risk metrics based on current price, the number of shares owned, your designated stop loss, and total account size.
Open Dollar Risk – the total dollar amount you will lose if your stop loss is hit.
Open % of Portfolio Risk – the risk as a percentage of your total account size.
Starting Capital Risk – the dollar amount risked based on the difference between the entry price and stop price.
These metrics adjust in real-time, allowing you to monitor and manage risk more effectively.
Open portfolio heat refers to how much you would lose if all your currently held stock positions hit their stop-losses, whether those stop-losses are below what you paid for them - referred to as your “cost basis” - at your cost basis (breakeven) or above your cost basis (in the money). Admittedly, it’s a pretty bad day when all your stops are hit at once, but as traders we need to prepare for the worst. To visualize what “open heat” looks like on a single stock position, please note the chart below:
In the example above you can see that if you were to purchase 100 shares of this stock at a cost-basis of $18/share, and your stop-loss is placed at $15, if the current price of the stock is at $20 and the stock price drops to hit your stop-loss, it would result in a $500 total drawdown in your portfolio. Keep in mind this is just one stock position. Hypothetically, if you were even holding two stocks that had the above open heat, with a $10,000 account size, you could experience a 10% drawdown quite fast if the market corrects.
The “Portfolio Heat” indicator is fully customizable allowing traders to select the number of positions in the portfolio, colors and a detailed or a summary view of risk.
Note if entering a short position, you will enter the number of shares owned as a negative number.
Risk Reward Optimiser [ChartPrime]█ CONCEPTS
In modern day strategy optimization there are few options when it comes to optimizing a risk reward ratio. Users frequently need to experiment and go through countless permutations in order to tweak, adjust and find optimal in their data.
Therefore we have created the Risk Reward Optimizer.
The Risk Reward Optimizer is a technical tool designed to provide traders with comprehensive insights into their trading strategies.
It offers a range of features and functionalities aimed at enhancing traders' decision-making process.
With a focus on comprehensive data, it is there to help traders quickly and efficiently locate Risk Reward optimums for inbuilt of custom strategies.
█ Internal and external Signals:
The script can optimize risk to reward ratio for any type of signals
You can utilize the following :
🔸Internal signals ➞ We have included a number of common indicators into the optimizer such as:
▫️ Aroon
▫️ AO (Awesome Oscillator)
▫️ RSI (Relative Strength Index)
▫️ MACD (Moving Average Convergence Divergence)
▫️ SuperTrend
▫️ Stochastic RSI
▫️ Stochastic
▫️ Moving averages
All these indicators have 3 conditions to generate signals :
Crossover
High Than
Less Than
🔸External signal
▫️ by incorporating your own indicators into the analysis. This flexibility enables you to tailor your strategy to your preferences.
◽️ How to link your signal with the optimizer:
In order to be able to analysis your signal we need to read it and to do so we would need to PLOT your signal with a defined value
plot( YOUR LONG Condition ? 100 : 0 , display = display.data_window)
█ Customizable Risk to Reward Ratios:
This tool allows you to test seven different customizable risk to reward ratios , helping you determine the most suitable risk-reward balance for your trading strategy. This data-driven approach takes the guesswork out of setting stop-loss and take-profit levels.
█ Comprehensive Data Analysis:
The tool provides a table displaying key metrics, including:
Total trades
Wins
Losses
Profit factor
Win rate
Profit and loss (PNL)
This data is essential for refining your trading strategy.
🔸 It includes a tooltip for each risk to reward ratio which gives data for the:
Most Profitable Trade USD value
Most Profitable Trade % value
Most Profitable Trade Bar Index
Most Profitable Trade Time (When it occurred)
Position and size is adjustable
█ Visual insights with histograms:
Visualize your trading performance with histograms displaying each risk to reward ratio trade space, showing total trades, wins, losses, and the ratio of profitable trades.
This visual representation helps you understand the strengths and weaknesses of your strategy.
It offers tooltips for each RR ratio with the average win and loss percentages for further analysis.
█ Dynamic Highlighting:
A drop-down menu allows you to highlight the maximum values of critical metrics such as:
Profit factor
Win rate
PNL
for quick identification of successful setups.
█ Stop Loss Flexibility:
You can adjust stop-loss levels using three different calculation methods:
ATR
Pivot
VWAP
This allows you to align risk-reward ratios with your preferred risk tolerance.
█ Chart Integration:
Visualize your trades directly on your price chart, with each trade displayed in a distinct color for easy tracking.
When your take-profit (TP) level is reached , the tool labels the corresponding risk-reward ratio for that specific TP, simplifying trade management.
█ Detailed Tooltips:
Tooltips provide deeper insights into your trading performance. They include information about the most profitable trade, such as the time it occurred, the bar index, and the percentage gain. Histogram tooltips also offer average win and loss percentages for further analysis.
█ Settings:
█ Code:
In summary, the Risk Reward Optimizer is a data-driven tool that offers traders the ability to optimize their risk-reward ratios, refine their strategies, and gain a deeper understanding of their trading performance. Whether you're a day trader, swing trader, or investor, this tool can help you make informed decisions and improve your trading outcomes.
Filtered Bollinger Bands By @TradingadeThis is a reversal strategy based on Bollinger Bands combined with a Trend filter.
The most important part of this strategy is the Trend filter. When applied, it will increase the likelihood of confirming an exhausted movement (it will help find the maximum "elastic bent"), and may reduce chances of getting bad entries condition.
The logic of this code is:
Enter Long : price goes outside lower band, then close cross above lower band
Stop Loss : Percentage %
Take profit : Percentage %
Exit Cond : when high crosses above upper band. It could be both in profit or in loss.
Filter: Yesterday low was the lowest in previous X days
Enter Short : price goes outside lower band, then close cross above lower band
Stop Loss : Percentage %
Take profit : Percentage %
Exit Cond : when low crosses below lower band. It could be both in profit or in loss.
Filter: Yesterday high was the highest in previous X days
FILTER Notes:
You could switch both timeframe and N. of candles in input section. Even tough generally daily data are more reliable, you could find interesting to change it to 1H tf, so filter would be:
"1H high/low was the lowest/highest in previous X hours"
EXIT Notes:
Please note that "% exits" will always override "Exit Cond".
Set % exits to 0 if you want to exit only by "Exit Cond".
Settings used to get the results below :
Initial Capital = 10000
Order Size = 10000 USDT
Commission = 0.06 %
TREND FILTER
Trend filter = True
Trend intensity = 4 Candles , TF 1 day
BB FILTER
Lenght = 20
Source = Close
StdDev = 2
STRATEGY SETTINGS
Position Side = LONG
Stop Loss % = 8
Take Profit % = 0
Exit Cond = True
[Camarilla Pivots] Signal Clean Up Analysis with Backtest (TSO)Camarilla Pivots NEW GEN Indicator!
This is a full-cycle trading system indicator, which uses Camarilla Pivots for generating signals using a custom developed algorithm, TP (Take Profit) and SL (Stop Loss) levels. There are 3 SOURCES for signals (each can be used separately or in combination or all 3 can be used at the same time, each signal SOURCE is using Camarilla Pivots levels to open optimal trade direction) with chained (NOTE: There are many potential profitable setups available, by combining clean up features availabe in the indicator settings!) signal cleanup and analysis approach with scheduling and alerting capabilities. Works best with shorter timeframes: 1M, 5M, 15M, 1H.
NOTE: Every calculation is done on a confirmed closed candle bar state, so the indicator will never repaint!
NOTE: At position open - there will be calculated Take-Profit and Stop-Loss targets, however each target is considered hit, when candle bar closes breaking that target, so Take-Profit and Stop-Loss when hit will slightly differ then what you see at position open!
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Explanation of all the Features | Configuration Guide | Indicator Settings | Signal Cleanup Analysis
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>>> Customizable Backtesting for a specific date range, results via TradingView strategy, which includes “Deep Backtesting” for largest amounts of data on trading results.
>>> Trading Schedule with customizable trading daily time range, automatic closing/alert trades before Power Hour or right before market closes or leave it open until next day.
>>> 3 Trading Systems.
>>> Multiple Signal SOURCEs for opening trades, either SOURCE can be used or both at the same time!
>>> Static/Dynamic Stop-Loss setups (HIGHLIGHT: Stop-Loss will be moved to Entry after TP1 is taken, which minimizes risk).
>>> Single or Multiple profit targets (up to 5).
>>> Take-Profit customizable offset feature (set your Take-Profit targets slightly before everyone is expecting it!).
>>> Candle bar signal analysis (matching candle color, skip opposite structured and/or doji candle uncertain signals).
>>> Additional analysis of VWAP/EMA/ATR/EWO (Elliot Wave Oscillator)/Divergence MACD+RSI/Volume signal confirmation (clean up your chart with indicator showing only the best potential signals!).
>>> Advanced Alerts setup, which can be potentially setup with a trading bot over TradingView Webhook (NOTE: This will require advanced programming knowledge).
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Labels, plots, colors explanations:
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>>>>> LONG open: green "house" looking arrow below candle bar.
>>>>> SHORT open: red "house" looking arrow above candle bar.
>>>>> LONG/SHORT take-profit target: green/red circles (multi-profit > TP2/3/4/5 smaller circles).
>>>>> LONG/SHORT stop-loss target: green/red + crosses.
>>>>> LONG/SHORT take-profit hits: green/red diamonds.
>>>>> LONG/SHORT stop-loss hits: green/red X-crosses.
>>>>> LONG/SHORT EOD (End of Day | Intraday style) close (profitable trade): green/red squares.
>>>>> LONG/SHORT EOD (End of Day | Intraday style) close (loss trade): green/red PLUS(+)-crosses.
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Date Range and Trading Schedule Settings
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>>>>> Date Range: Select your start and/or end dates (uncheck “End” for indicator to show results up to the very moment and to use for LIVE trading) for backtesting results, if not using backtesting – uncheck “Start”/“End” to turn it off.
>>>>> Use TradingView “Strategy Tester” to see backtesting results
NOTE: If Strategy Tester does not show any results with Date Ranged fully unchecked, there may be an issue where a script opens a trade, but there is not enough TradingView power to set the Take-Profit and Stop-Loss and somehow an open trade gets stuck and never closes, so there are “no trades present”. In such case you will need to manually check “Start”/“End” dates or use “Depp Backtesting” feature!
>>>>> Trading Schedule: This is where you can setup Intraday Session or any custom session schedule you wish. Turn it ON. Select trading hours. Select EOD (End of Day) setting (NOTE: If it will be OFF, the indicator will assume you are holding your position open until next day!). Please note the EOD trade closure times with the 2 different Intraday close settings when turned on:
At Market Close:
1/3/5min > will close at 15:55pm ET
15min > will close at 15:45pm ET
30min > will close at 15:30pm ET
45min > will close at 15:45pm ET
60min > will close at 15:00pm ET
Before Power Hour:
1/3/5min > will close at 15:00pm ET
15min > will close at 15:00pm ET
30min > will close at 15:00pm ET
45min > will close at 15:00pm ET
60min > will close at 15:00pm ET
>>> Trading Systems: 1) "Open Until Closed by TP or SL": the signal will only open a trade if no trades are currently open/trunning, a trade can only be closed by Take Profit, Stop Loss or End of Day close (if turned on) | 2) "Open Until Closed by TP or SL + OCA": Same as 1), but if there is an opposite signal to the trade which is currently open > it will immediately be closed with new trade open or End of Day close (if turned on) | 3) "OCA (no TP or SL)": There are is Take Profit or Stop Loss, only an opposite signal will close current trade and open an opposite one or End of Day close (if turned on).
>>> Position Open sources:
>>>>> Position Open - SOURCE1 | LONG: S3, SL: S4, TP1: R3, TP2: R4, TP3: R5, TP4/5: Smart Formula | SHORT: R3, SL: R4, TP1: S3, TP2: S4, TP3: S5, TP4/5: Smart Formula
>>>>> Position Open - SOURCE2 | LONG: R4, SL: R3, TP1: R5, TP2/3/4/5: Smart Formula | SHORT: S4, SL: S3, TP1: S5, TP2/3/4/5: Smart Formula
>>>>> Position Open - SOURCE3 | LONG: R5, SL: R4, TP1/2/3/4/5: Smart Formula | SHORT: S5, SL: S4, TP1/2/3/4/5: Smart Formula
>>> Turn On/Off: Current Position SL + Opposite Position Open Signal on the same closing candle bar (If current trade hits Stop-Loss and at that same closing candle bar there is a signal for an opposite direction trade > indicator will close current position as Stop-Loss and immediately open an opposite position). NOTE: With this option turned on, there will be more trades, but not necessarily better results, since after Stop-Loss is hit, it may make sense to wait a little before opening an opposite trade, even if it matches the condition at the same time when Stop-Loss is hit, but sometimes it shows great results, so this setting/feature is included.
>>> Turn On/Off: Turn On/Off: Current Position REGULAR SL | Only the SL + Opposite Position Open will trigger if turned on, IF NOT - THERE WILL BE NO STOP-LOSS AT ALL!!! NOTE: It is very dangerous to trade without Stop-Loss!
>>>>> Signal Candle Bar consuming Take-Profits - position/trade signal candle bar is big enought to "consume"/close ahead the first TP setting > the signal can either be skipped, or all Take-Profit areas pushed ahead using smart formula)
>>>>> MULTIPROFIT | TP (Take-Profit) System: Once the trade is open, all Take-Profit target(s) are immediately calculated and set for the trade > once the target(s) is hit > trade will be partially closed (if candle bar closes beyond several Take-Profit targets > trade will be reduced accordingly to the amount of how many Take-Profit targets were hit)
>>>>> MULTIPROFIT | SL (Stop-Loss) System: 1) Static – Once the trade is open, Stop-Loss is calculated and set for the remaining of the trade ||| 2) Dynamic – At trade open, Stop-Loss is calculated and set the same way, however once 1st Take-Profit is taken > Stop-Loss is moved to Entry, reducing the risk.
>>>>> # of TPs (number of take profit targets): Just like it is named, this is where you select the number of Take-Profit targets for your trading system (NOTE: If "OCA (no TP or SL)" Trading System is selected, this setting won’t do anything, since there are no TP or SLs for that system).
>>>>> TP(s) offset: This is a special feature for all Take-Profit targets, where you can turn on a customizable offset, so that if the price is almost hitting the Take-Profit target, but never actually touches it > you will capture it. This is good to use with HHLL (Highest High Lowest Low), which is pretty much a Support/Resistance as often the price will nearly touch these strong areas and turn around…
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Signal Analysis and Cleanup Settings
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>>>>> Candle Analysis | Candle Color signal confirmation: If closed candle bar color does not match the signal direction > no trade will be open.
>>>>> Candle Analysis | Skip opposite candle signals: If closed candle bar color will match the signal direction, but candle structure will be opposite (for example: bearish green hammer, long high stick on top of a small green square) > no trade will be open.
>>>>> Candle Analysis | Skip doji candle signals: If closed candle bar will be the uncertain doji > no trade will be open.
>>>>> Divergence/Oscillator Analysis | EWO (Elliot Wave Oscillator) signal confirmation: LONG will only be open if at signal, EWO is green or will be at bullish slope (you can select which setting you desire), SHORT if EWO is red or will be at bearish slope.
>>>>> Divergence/Oscillator Analysis | VWAP signal confirmation: LONG will only be open if at signal, the price will be above VWAP, SHORT if below.
>>>>> Divergence/Oscillator Analysis | Moving Average signal confirmation: LONG will only be open if at signal, the price will be above selected Moving Average, SHORT if below.
>>>>> Divergence/Oscillator Analysis | ATR signal confirmation: LONG will only be open if at signal, the price will be above ATR, SHORT if below.
>>>>> Divergence/Oscillator Analysis | RSI + MACD signal confirmation: LONG will only be open if at signal, RSI + MACD will be bullish, SHORT if RSI + MACD will be bearish.
>>>>> Volume signal confirmation: LONG/SHORT will only be opened with strong Volume matching the signal direction, by default, strong Volume percentage is set to 150% and weak to 50%, but you can change it as you desire.
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TP System - VERY IMPORTANT INFO!
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"TP PERCENTAGE" - amount by which current trade/position needs to be reduced/partially closed/sold.
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TP System: Dynamic
"TP PERCENTAGE" - will always be the same amount (trade/position size divided by the # of take-profit(TP) targets) and percentage to be closed will always be of the ORIGINAL trade/position.
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TP System: Static
"TP PERCENTAGE" - will always be the same amount IF take-profit(TP) targets are hit 1-by-1 (TP1 > TP2 > TP3 > TP4 > TP5), otherwise it will vary and unless it is a 1st take-profit(TP1), the REMAINING trade/position size will always be smaller than original and therefore the percentage to be closed will always be of the REMAINING trade/position and NOT the original one!
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"TP PERCENTAGE" CheatSheet (these are the only percentages you may see)
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TP PERCENTAGE---Close/Sell Amount-------------Example (trade size: 50 stocks)
20%-------------trade size * 0.2--------------50 * 0.2 = 10 stocks
25%-------------trade size * 0.25-------------50 * 0.25 = 12.5(~13) stocks
34%-------------trade size * 0.34-------------50 * 0.34 = 17 stocks
40%-------------trade size * 0.4--------------50 * 0.4 = 20 stocks
50%-------------trade size * 0.5--------------50 * 0.5 = 25 stocks
60%-------------trade size * 0.6--------------50 * 0.6 = 30 stocks
66%-------------trade size * 0.66-------------50 * 0.66 = 33 stocks
75%-------------trade size * 0.75-------------50 * 0.75 = 37.5(~38) stocks
80%-------------trade size * 0.8--------------50 * 0.8 = 40 stocks
100%------------trade size--------------------50 = 50 stocks
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If for any reason a portion of the current/remaining trade closed at such occurrence was slightly wrong, it is not an issue. Such occurrences are rare and with slight difference in partial TP closed is not significant to overall performance of our algorithms.
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Alert Settings (you don’t have to touch this section unless you will be using TradingView alerts through a Webhook to use with trading bot)
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Here is how a LONG OPEN alert looks like.
NOTE: Each label , , etc. is customizable, you can change the text of it within indicator Input settings.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: OPEN
ENTRY: 20000
TP1: 20500
TP2: 21000
TP3: 21500
TP4: 22500
TP5: 23500
SL: 19000
Leverage: 0
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Here is how a TP1 alert will look with 5 TPs breakdown of the trade.
NOTE1: Next to TP1 taken it will show at which price it was triggered.
NOTE2: Next to "TP Percentage" it shows how much of the CURRENT/ACTIVE/REMAINING trade needs to be closed.
NOTE2: If TP2/3/4/5 comes before TP1 - the alert will tell you exactly how many percent of the trade needs to be closed!
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: TP1
TP1: 20500
TP Percentage: 20%
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Here is how an alert will look for LONG - STOP-LOSS.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
ENTRY: 20000
LONG: SL
SL: 19000
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Here is how an alert will look for LONG - EOD (End of Day) In Profit close.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: EOD-Close (profit)
ENTRY: 20000
EOD-Close: 21900
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Adding Alerts in TradngView
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-Add indicator to chart and make sure it is configured (check back-testing results)
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Select this indicator by it’s name
-Alert name: Whatever you want
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
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If you have any questions or issues with the indicator, please message me directly via TradingView.
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Good Luck! (NOTE: Trading is very risky, past performance is not necessarily indicative of future results, so please trade responsibly!)
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NOTE: There seems to be a strange glitch when strategy is running live, it will show "double-take" take-profits labels on the chart. This is not affecting the script logic and backtesting results, if you will remove/re-add the script afterwards, it will no longer show the duplicate orders... this must be some sort of a glitch as every alert was thoroughly tested to make sure everything is working!
Volume ValueWhen VelocityTitle: Volume ValueWhen Velocity Trading Strategy
▶ Introduction:
The " Volume ValueWhen Velocity " trading strategy is designed to generate long position signals based on various technical conditions, including volume thresholds, RSI (Relative Strength Index), and price action relative to the Simple Moving Average (SMA). The strategy aims to identify potential buy opportunities when specific criteria are met, helping traders capitalize on potential bullish movements.
▶ How to use and conditions
★ Important : Only on Spot Binance BINANCE:BTCUSDT
Name: Volume ValueWhen Velocity
Operating mode: Long on Spot BINANCE BINANCE:BTCUSDT
Timeframe: Only one hour
Market: Crypto
currency: Bitcoin only
Signal type: Medium or short term
Entry: All sections in the Technical Indicators and Conditions section must be saved to enter (This is explained below)
Exit: Based on loss limit and profit limit It is removed in the settings section
Backtesting:
⁃ Exchange: BINANCE BINANCE:BTCUSDT
⁃ Pair: BTCUSDT
⁃ Timeframe:1h
⁃ Fee: 0.1%
- Initial Capital: 1,000 USDT
- Position sizing: 500 usdt
-Trading Range: 2022-07-01 11:30 ___ 2023-07-21 14:30
▶ Strategy Settings and Parameters:
1. `strategy(title='Volume ValueWhen Velocity', ...`: Sets the strategy title, initial capital, default quantity type, default quantity value, commission value, and trading currency.
↬ Stop-Loss and Take-Profit Settings:
1. long_stoploss_value and long_stoploss_percentage : Define the stop-loss percentage for long positions.
2. long_takeprofit_value and long_takeprofit_percentage : Define the take-profit percentage for long positions.
↬ ValueWhen Occurrence Parameters:
1. occurrence_ValueWhen_1 and occurrence_ValueWhen_2 : Control the occurrences of value events.
2. `distance_value`: Specifies the minimum distance between occurrences of ValueWhen 1 and ValueWhen 2.
↬ RSI Settings:
1. rsi_over_sold and rsi_length : Define the oversold level and RSI length for RSI calculations.
↬ Volume Thresholds:
1. volume_threshold1 , volume_threshold2 , and volume_threshold3 : Set the volume thresholds for multiple volume conditions.
↬ ATR (Average True Range) Settings:
1. atr_small and atr_big : Specify the periods used to calculate the Average True Range.
▶ Date Range for Back-Testing:
1. start_date, end_date, start_month, end_month, start_year, and end_year : Define the date range for back-testing the strategy.
▶ Technical Indicators and Conditions:
1. rsi: Calculates the Relative Strength Index (RSI) based on the defined RSI length and the closing prices.
2. was_over_sold: Checks if the RSI was oversold in the last 10 bars.
3. getVolume and getVolume2 : Custom functions to retrieve volume data for specific bars.
4. firstCandleColor : Evaluates the color of the first candle based on different timeframes.
5. sma : Calculates the Simple Moving Average (SMA) of the closing price over 13 periods.
6. numCandles : Counts the number of candles since the close price crossed above the SMA.
7. atr1 : Checks if the ATR_small is less than ATR_big for the specified security and timeframe.
8. prevClose, prevCloseBarsAgo, and prevCloseChange : ValueWhen functions to calculate the change in the close price between specific occurrences.
9. atrval: A condition based on the ATR_value3.
▶ Buy Signal Condition:
Condition: A combination of multiple volume conditions.
buy_signal: The final buy signal condition that considers various technical conditions and their interactions.
▶ Long Strategy Execution:
1. The strategy will enter a long position (buy) when the buy_signal condition is met and within the specified date range.
2. A stop-loss and take-profit will be set for the long position to manage risk and potential profits.
▶ Conclusion:
The " Volume ValueWhen Velocity " trading strategy is designed to identify long position opportunities based on a combination of volume conditions, RSI, and price action. The strategy aims to capitalize on potential bullish movements and utilizes a stop-loss and take-profit mechanism to manage risk and optimize potential returns. Traders can use this strategy as a starting point for their own trading systems or further customize it to suit their preferences and risk appetite. It is crucial to thoroughly back-test and validate any trading strategy before deploying it in live markets.
↯ 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!
