Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Huraian
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Thanks to everyone that has been contacting me about the holy grail project, your comments and feedback have made this project much more rewarding. I'm excited for your further feedback. Here is Version 3.
How to use: At the heart of this projects is a new kind of moving average that I have been developing. As such it is reasonable to think of these lines as highly enhanced and finely tuned moving averages. Their slopes, crossovers, spreads, and behaviors are all meaningful, just as in other moving averages. What is special about these is that if you trade their price crossovers, it almost never generates a real loss, just consistent profits. In trending markets these lines can give you all you need to know about trend entry/exit and details inbetween, effectively letting you get in/out at the top/bottom. In a ranging market they will show you ideal lines of mean reversion, and how to play them.
Description (Upgrades from V2), there are 3 huge improvements from V2:
1) It follows the price better: In the inputs window there is now a box called “Responsiveness”, it can have values from 0 to 5. At 0 Version 3 looks a lot like V2. When you turn up the responsiveness the lines follow closer when they should, and repel themselves when they should be distant. Unfortunately the lines are no longer as smooth, but it isn’t much of a problem. When you turn this up the lines can generate losses if you blindly use the crossover, this is because the slopes of these lines now have more meaning as they focus on the trend, and not how price moves right around it. This can also give very powerful signals if all 5 lines crossover in the same place. Mess with it.
2) There are too many neutral entries: Now every trade can be closed profitably! I posted an idea a few weeks back about “smart execution traces”, it is an intelligently suggested stop loss. The way you set it is in the inputs window at “Smart Execution Baseline”. If you are using crossover signals from Line 4, then set this to 4, if you use line 3 then set it to 3, ect… Unfortunately the lines are also not so smooth, but this can be a very helpful tool. If you play with it you can easily get a feeling for it.
3) Flipping between timeframes is now easier: Here you can bring a line in from another time frame. In the input window there is a box “Line from other timeframe?”. Here you can select the line you are interested in. Next you have to choose which timeframe you are interested it, you can choose this in the “timeframe multiplier” box. This multiplies you current time frame to get the desired one. If you are on the hourly charts and are interest in line 4 on the 6 hour charts, you first choose line 4, then in the timeframe multiplier you enter 6 to see the 6 hour red line in the 1 hour time frame. Likewise if you are still in the 1 hour and want to see the 15 minute red line, simply multiply by 0.25 (which is 1/4). Due to the limitations of pinescript it is easier to see smaller timeframes, getting a higher timeframe line requires more data. If you don’t want to consult another timeframe leave both of these at 0 to cut down on computational time.
After enough inquiries, the source code is now for sale.
If you are making money with this system and want to share it, here are my addresses. If you donated and want to see some of the indicators I am currently working on just message me so I can privately tag you in.
Please feel free to write in further questions in the comments below. Hope this makes some of you rich, happy trading!
Nota Keluaran
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Something changed in pinescript that only allows nonzero sum lengths. To fix this I decided to cut the lookback line from HG v3. Feel free to message me if there is anything else not working.
Stay so positive that negativity runs away from you :)
Please tag me. I love this latest (?) Holy Grail. Would love to see what else you have done and if backtesting is available for this?
rantidev
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Thanks a lot for sharing this.
HumilityGh
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how is this indicator used?
mcbw_
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Hi @HumilityGh, forgive me for the (very) late reply but I just saw your comment at the top.
To help you and everyone reading, you can essentially use these lines in a similar way as moving averages and have much better results. Let me explain more.
I have designed these lines to only have crossovers with price when price is starting to change direction, and should not have crossovers otherwise. This means that these crossovers are typically high probability and low whiplash. If price is stuck in a range then these lines try to stop moving so all your trades may be at break-even, helping prevent whiplash. There are 5 lines that all behave a little differently and have different time horizons. I designed it to work on all timeframes and all instruments and often use the green, pink, and red lines in my trading. Here is a break down on how I use these three lines.
The light green line - is designed to help you with staying in trades that are going in your direction very quickly. When you're in a breakout trade and what to stay in it till the end without sacrificing any profits. This is good on all timeframes whether it is a daily chart breakout in the commodity markets or a 1 min chart breakouts in the cryptocurrency markets.
The pink line - if you blindly use this line as a crossover system the backtests of the pink line are actually the best performers in swing trading the forex markets of all the lines in this indicator. This helps me catch mid-sized moves and allows the trades to breathe a little bit without sacrificing too much profits. Normally I use this as a "filter" to help build confluence for momentum moves. For example, if I am using the QQE or Zero-lag MACD crossover signals as entries to trades I will only take the long trades when price is above the pink line, or short if price is under the pink.
The red line - this is the most powerful line in this indicator to trade in my opinion and the opinion of my most profitable colleagues and students. When price crosses this line there is a very high probability that price will continue to stay on that side and continue in that direction. I have seen this line used very well in the cryptocurrency markets, forex markets, and option trading stock markets. My personal favorite for this line is when I see a nice chart pattern and want to act on it but want more confluence. For example, if there is a really nice head and shoulders pattern forming and the right shoulder is just crossing under the red line I will absolutely catch a great short there.
The teal line and purple line - these are both good lines, but I don't use them as much. I know many people that do but cannot speak to these from regular experience.
When does version 4 come out?
I have been working very hard on version 4 with all sorts of new advanced technology and it should be coming out by the end of 2020 or start of 2021 and will have a very small annual fee.
Let me know if you have any more questions, best regards.
Hi @davidvm, unfortunately not :( there are new ideas for testing it all the time that has keeps pushing it out. As tradingview keeps offering more possibilities for coding this up (with each update to pinescript) more meaningful ideas are being tested. Will let you know when there is a planned delivery date!
davidvm
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Thanks @mcbw_! V4 sounds very exciting, and it seems it's just getting better and better. I'll be happy to pay a fee for it. Can't wait to test it out. Keep it up!