MACD Enhanced Strategy MTF with Stop Loss [LTB]

20 Feb 2019

I developed this script to analyse MACD, MACD Signal, MACD Histogram movements by using current and higher time frame. Script calculates higher time frame automatically, no manuel entry. I also added trailing stop loss line. You can change the parameters as you wish ;)

btw. you should know that MACD is more successful when there is trend.

If you like it please comment and check out my other scripts.

20 Feb 2019

Nota Keluaran

A few corrections in the code.

21 Feb 2019

Nota Keluaran

a few improvements and made optional trailing stop loss line optional.

15 Nov 2021

Nota Keluaran

upgraded.

many users asking the source code, here it's, you can use it as you wish

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © LonesomeTheBlue

//@version=4
strategy("MACD Enhanced Strategy MTF with Stop Loss [LTB]", overlay=true)

fastLength = input(title="MACD Fast Length", defval=12, minval=1)
slowLength = input(title="MACD Slow Length", defval=26, minval=1)
signalLength = input(title="MACD Signal Length", defval=9, minval=1)
crossscore = input(title="Cross (buy/sell) Score", defval=10.)
indiside = input(title="indicator Direction Score", defval=8)
histside = input(title="Histogram Direction Score", defval=2)
shotsl = input(title="Show Stop Loss Line", defval=false)
Mult = input(title="Stop Loss Factor", defval=1.2, type=input.float, minval=0.1, maxval=100)
Period = input(title="Stop Loss Period", defval=10, minval=1, maxval=100)
lookaheadi = input(title = "Lookahead", defval = true)

HTF = timeframe.period == '1' ? '5' : 
   timeframe.period == '3' ? '15' : timeframe.period == '5' ? '15' : 
   timeframe.period == '15' ? '60' : timeframe.period == '30' ? '60' : 
   timeframe.period == '45' ? '60' : timeframe.period == '60' ? '240' : 
   timeframe.period == '120' ? '240' : timeframe.period == '180' ? '240' : 
   timeframe.period == '240' ? 'D' : timeframe.period == 'D' ? 'W' : 'W'

calc = timeframe.period == '1' ? 5 : 
   timeframe.period == '3' ? 5 : timeframe.period == '5' ? 3 : 
   timeframe.period == '15' ? 4 : timeframe.period == '30' ? 4 : 
   timeframe.period == '45' ? 4 : timeframe.period == '60' ? 4 : 
   timeframe.period == '120' ? 3 : timeframe.period == '180' ? 3 : 
   timeframe.period == '240' ? 6 : timeframe.period == 'D' ? 5 : 1

count() =>
    indi = ema(close, fastLength) - ema(close, slowLength)
    signal = ema(indi, signalLength)
    Anlyse = 0.0
    // direction of indi and histogram
    hist = indi - signal
    Anlyse := indi > indi[1] ? hist > hist[1] ? indiside + histside : 
       hist == hist[1] ? indiside : indiside - histside : 0
    Anlyse := Anlyse + (indi < indi[1] ? hist < hist[1] ? -(indiside + histside) : 
       hist == hist[1] ? -indiside : -(indiside - histside) : 0)
    Anlyse := Anlyse + 
       (indi == indi[1] ? hist > hist[1] ? histside : hist < hist[1] ? -histside : 0 : 0)
    // cross now earlier ?
    countcross = indi >= signal and indi[1] < signal[1] ? crossscore : 
       indi <= signal and indi[1] > signal[1] ? -crossscore : 0.
    countcross := countcross + nz(countcross[1]) * 0.6
    Anlyse := Anlyse + countcross
    nz(Anlyse)

Anlys = count()
AnlysHfrm = lookaheadi ? security(syminfo.tickerid, HTF, count(), lookahead = barmerge.lookahead_on) : 
                         security(syminfo.tickerid, HTF, count(), lookahead = barmerge.lookahead_off)
Result = (AnlysHfrm * calc + Anlys) / (calc + 1)

longCondition = change(Result) != 0 and Result > 0
if longCondition
    strategy.entry("MACD Long", strategy.long)

shortCondition = change(Result) != 0 and Result < 0
if shortCondition
    strategy.entry("MACD Short", strategy.short)

countstop(pos) =>
    Upt = hl2 - Mult * atr(Period)
    Dnt = hl2 + Mult * atr(Period)
    TUp = 0.
    TDown = 0.
    TUp := close[1] > TUp[1] ? max(Upt, TUp[1]) : Upt
    TDown := close[1] < TDown[1] ? min(Dnt, TDown[1]) : Dnt
    tslmtf = pos == 1 ? TUp : TDown
    tslmtf

pos = longCondition ? 1 : -1
stline = 0.
countstop__1 = countstop(pos)
security_1 = security(syminfo.tickerid, HTF, countstop__1)
stline := change(time(HTF)) != 0 or longCondition or shortCondition ? security_1 : 
   nz(stline[1])
plot(stline, color=shotsl ? color.gray : na, style=plot.style_line, linewidth=2, title="Stop Loss")

P.S. I don't recommend this strategy