IronBot v4

26 Feb

IronBot v4 – Trading Strategy Overview
1. Quick Context
IronBot v4 is a trading strategy designed for users who want a simple yet effective approach to reading the markets. It uses a combination of Fibonacci retracement levels, custom logic triggers, and innovative modules (EMA validation, Iron Impulse Shield and Iron Auto Volume Detector) to identify potential entry and exit points, strengthening the strategy’s detection of sudden market volatility or shifts in trading volume.

2. Theoretical Details
Fibonacci Analysis
The script identifies recent market highs and lows, then calculates key Fibonacci levels (high- and low-based). These levels can help confirm potential reversals or trends.

EMA Option
When enabled, the exponential moving average (EMA) offers additional validation for trade entries. If the current price remains above a certain EMA threshold, long positions may be favored; conversely, if it stays below the EMA, short positions may be initiated.

IIS (Iron Impulse Shield)
IIS helps to filter out risky trades by measuring recent price shocks or surges. If an extreme movement is detected, the strategy may temporarily disable longs or shorts to avoid false signals.

IAVD (Iron Auto Volume Detector)
This functionality automatically detects the average market volume over a defined period (regardless of the market, since it relies on real data). When entering a position, it ensures that overall volume is high enough to confirm a genuinely active, robust market. By providing an additional filter, it can strengthen the decision-making process whenever the market’s participation level is in question.

Panel
IronBot v4 displays a real-time backtest panel that summarizes the selected configuration (including the current pair, analysis window, enabled filters), as well as showing net profit, applicable exchange fees, country taxes, and the final net balance. This gives traders an immediate overview of strategy performance and risk metrics.

What Pinescript Adds Visually
The script plots:

• Fibonacci levels (highlighting potential reversal zones)
  
• Trend lines indicating bullish (green) or bearish (red) lean
  
• Optional EMA line
  
• Optional Fibonacci forecast lines for anticipating future moves
  
• Automatic labeling of entry, take-profit, and stop-loss levels, indicating the profit percentage of each trade.
  

3. Explanation of Inputs
The strategy exposes multiple inputs that can be toggled or configured by the user:
Analysis Window : Dictates how many bars to consider for high/low calculations and the fib retracement thresholds.

TRADES

• Display TP/SL: For displaying Take profits and Stop loss.
  
• Display Forecast: When enabled, this feature calculates and projects possible future Fibonacci retracements using historical data, helping traders anticipate potential upcoming trade setups.
  
• Leverage: Only used for the Panel and not for trades. Lets you amplify your position size; higher leverage increases potential gains but also heightens risk. TradingView strategy is using properties for doing this.
  
• Exchange Maker Fees & Exchange Taker Fees: Only used for the Panel and not for trades. Define the percentage cost applied by your exchange for maker and taker trades, respectively. These fees are accounted for in final profit calculations of the Panel.
  
• Country Tax: Only used for the Panel and not for trades. Specifies a tax percentage to be deducted from net profits.
  

STOP LOSS and TAKE PROFITS

• Stop-Loss & Take-Profit Parameters: Controls the percentage distances at which the strategy will exit positions. Additionally, you can configure up to four distinct take-profit levels (TP1 through TP4). Each level should be higher target than the previous one, and you can assign a specific percentage of the total position to close at each TP, ensuring the sum equals 100%. A break-even feature is also available when multiple TPs are used.
  

EMA

• EMA (Exponential Moving Average) Option: When enabled, the strategy opens long trades only if the current price is above the specified EMA length, and opens short trades only if it is below that threshold.
  

PANELS

• Show Panel: For displaying the backtest integrated panel.
  

IRON IMPULSE SHIELD (IIS)

• IIS (Iron Impulse Shield) Option: When enabled, IIS continuously monitors recent price volatility depending on the analysis window set. If the market experiences an extreme surge or drop beyond a specified threshold, IIS temporarily blocks new long or short positions.
  

IRON AUTO VOLUME DETECTOR (IAVD)

• IAVD (Iron Auto Volume Detector) Option: When enabled, it continuously measures the average market volume over a special period, irrespective of the specific trading pair. This ensures that IronBot v4 focuses on markets with robust participation, reducing the likelihood of entering trades during low-liquidity conditions.
  

By changing these values, IronBot v4 reacts differently to market structure and risk management requirements. Stop-loss and take-profit levels will adjust accordingly, while advanced filters (like EMA or IIS) influence when trades can open.

4. TradingView Strategy Properties
IronBot v4 uses the built-in TradingView “strategy” functionality. In particular:

• Order Placement: The code calls strategy.entry() and strategy.close() for direct orders, ensuring signals are sent immediately (no limit orders are used). This helps connect with exchange signal bots for automated execution.
  
• Initial Capital: The code uses initial capital defined in properties for calculating Net balance in the integrated panel.
  
• On bar close: This strategy fill orders on bar close.
  
• Pyramiding: This strategy can take only 1 successive trade in the same direction
  

Be careful to configure your leverage input depending on your strategy properties.

5. Visualization


5. Purpose & Disclaimer
This script is for educational purposes only and does not constitute financial advice. Past performance does not guarantee future results. Always confirm your own risk tolerance and consult a financial professional before placing live trades. Trading leveraged products can involve substantial risk of loss.

26 Feb

Nota Keluaran

Naming update to specify it is a strategy

26 Feb

Nota Keluaran

Adding internal code version in the source

1 Mac

Nota Keluaran

Changing name of "Quantity %" by specifying for which TP it is

7 Mac

Nota Keluaran

Update inputs name to be unique

10 Mac

Nota Keluaran

• Set display TP/SL and Panel to true by default
  
• Set IIS Treshold to float for being more precise on forex
  

24 Mac

Nota Keluaran

✅ New Inputs (in UTC):

"Start Hour (UTC)" and "End Hour (UTC)" let you define when trades are allowed to open.
Hours are based on a 24h clock (0 or 24 = midnight, 23 = 11PM).

📌 Examples:
- To trade only during the London session: Start = 7, End = 15
- To target Asian market open: Start = 1, End = 9
- To allow trades all day: Start = 0, End = 24
- To trade overnight (crossing midnight): Start = 22, End = 3

Trades will only trigger if the current hour is within this range.
This feature is especially useful for Forex traders to avoid low-liquidity hours.

24 Mac

Nota Keluaran

Update code number version & chart

25 Mac

Nota Keluaran

• Update trading session by using "session" pinescript input.
  
• Update panel to show the trading session configured.
  

25 Mac

Nota Keluaran

• Adding date of first trade input as V3
  
• Adding date to the panel