This is a backtesting script that demonstrates the power of incorporating dollar cost averaging into your trading strategies. Catch the bottom of those lightning fast dips buy placing your limit orders ahead of time.
Four entry conditions have been included: - ASAP mode - Quickfinger's Luc - Bullish pivot point - Bearish pivot point
An EMA-based entry condition filter is included
Placement of all DCA orders is adjustable, and "take profit" % is also variable and can depend on the size of the price dip.
Nota Keluaran
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Added the ability to make short trades 2 independent EMAs are used to filter long and short entry conditions
Nota Keluaran
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fixed the bounce % input for QFL entries
Nota Keluaran
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changed data table format to match the QaSH DCA Daytrader script
Nota Keluaran
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aesthetic update
Nota Keluaran
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aligned with "daytrader" script added "tick overshoot" input specified that orders must be placed when the bar has closed.
a quick note: if long and short entry conditions are both true, then neither of them will trigger. So make sure you understand how you're defining the long and short entry filters.
nisajev
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Cannot change layer count. It is stuck with 5.
ParabolicValue
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@nisajev, It works when I try it. You might need to just give it a minute to load. Otherwise can you dm me your specific issue.
nisajev
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@ParabolicValue, I am sorry. I meant that i cannot change it to Layer 6, 7 etc. I can change it from 1-5. Some coins dip further then level 5, which results in a trade being executed for months, until price goes up. Cannot DM, because it is a trial account.
ParabolicValue
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@nisajev, Hello, this strategy script is modeled after my "QaSH DCA Daytrader" script, which has 5 layers maximum. I offer scripts that go up to 12 layers, but I quickly hit the size limitations of TradingView scripts and I start needing to sacrifice other features to add more layers. For the purposes of this script, it is intended to be more of a daytrader setup, where you are encouraged to use a stoploss under the last layer. Also, you have the option of lowering your 5 layer placements to catch larger price action.
In the next update, it will also be able to switch to a short position during large downward moves.