After months of research and testing, I have developed the first public beta of my Crypto trading script.
Note the following:
1.) This algo works best with /USD pairings (e.g. ETH/USD). Doesn't work as well with /BTC pairings (e.g. ETH/BTC). I believe this is because USD is stable and allows for better data (rather than comparing two very volatile assets to each other).
2.) This algo works best on swing trading time frames (4 hour - 12 hour) but can also be used on lower time frames (although lower than 1 hr is not recommended). For reference, I've found the best time frames to be as follows: BTC - 6 hour, LTC - 4 hour, ETH - 12 hr
So far, the results have been far better than the other bots/indicators I've come across.
This indicator has been optimized for use on Bitcoin with 6 hour candles just because Bitcoin is the oldest crypto & has the most backtesting data available. And 6 hour time frame because I prefer swing trading over day trading.
Feel free to test on different time frames and coins to see what gets the best results.
Comments and feedback appreciated!!
************Note: Please do not ask me for the source code. It is protected for a reason....I won't be giving it out to anyone.*************
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Updates:
Added ability to set normal stop loss % below buy price
Added ability to set trailing stop loss %
Added additional sell criteria for improved performance
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New release : V2
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New Release: V2
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Additional sell criteria added
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Uploaded wrong version before....minor patch
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V3 Updates:
Refined buy/sell criteria for improved performance
Added option to set volatility based trailing stop - based on ATR (although I don't use it personally...just giving people an extra option in case they want to use it)
Added ability to show most recent support/resistance levels based on most recent swing high / swing low (note: keep in mind that not every single pivot point is a true support/resistance level, but often it is)
Added optional setting to "Buy the Dip" (note: this is an aggressive choice but can be very profitable depending on the coin & time frame....test both on/off and see what backtests better)
Minor patches
Note: If you find a certain combination of time frame / coin that seems to be very profitable, I would appreciate if you post it in the comments below!
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Made "Buy the Dip" criteria stricter
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Update:
> Refined pivot criteria
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Minor patches
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Massive Update to the algorithm to catch more dips
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Refined oversold criteria
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added option to turn on/off plots of stop losses
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Updated parameters
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Updated buy criteria to provide more flexibility
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Made buy criteria less conservative, to increase overall profit potential although win rate is lower. (For example I would rather take 10 trades and win 6 rather than take 2 trades and win 2 but make less overall)
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Improved sell criteria
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Made pivot lines larger at higher highs (green) and lower lows (red)
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Donations:
BTC - 1E6rD3pn3B6xEaKFGv71XG5YtHhESfDFwm ETH - 0x492A7743492BB592DC81789A837eEd1F6c2d81a5
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Even better....
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Major Update:
> Added additional optional criteria to confirm buy signals. These can be switched on/off in the settings. Default settings are set to work best for BTC 6 hr chart. > Added option to turn on/off bar coloring > Added ability to use 1 hour activity to confirm buy signals. NOTE: this means that you cannot use this script for backtesting with 1 hour chart or lower, or else you will encounter issues with strategy repainting
If you've already added this script to one of your charts, please remember to remove the script and re-add it so you'll have the latest version.
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Reorganized inputs in settings
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Added more optional parameters
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Updated logic to account for volatility
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Added HMA
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Added logic to prevent from selling when already very oversold....improved overall performance
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Update: Made significant changes to reduce over-optimizing / curve fitting. Now it can be used on many more time frames and pairings. Adjust the settings depending on your risk tolerance.
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This script is no longer public, as I have made a major upgrade which has taken me over 1 year of development and I simply cannot give it away for free....for access, please send a PM.
man, definitely appreciate the time you spent putting this together, and thank you for sharing it! i'm testing it out now. like frano said, would you also be able to add a short script to it, too? is there any way to set alerts on it, as well?
janor123
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@nakad, you can actually short at the same points as long entries are closed, and it ends up being even more profitable. Personally I do not short, which is why I didn't include it in my script. But I have backtested it with shorting when longs are closed and it worked very well.
makistar
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@janor123, thank you so much for the reply! how about the alerts? i couldn't figure anything out on that end. if there isn't any way to set one yet, that's totally fine, too.
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@makistar, so the way Tradingview works is, you can't setup alerts for Strategies, only Studies. And you can't setup backtests for Studies.....Since I wanted people to be able to backtest this and prove to themselves that it really does work, I decided to go with strategies for now. Once enough people see with their own eyes that its working, then I will set up a study version which you can set alerts for.
That being said, this is best used for swing trading (4hrs+), so it's not too hard to login ever 4-6 hours and take a look at if there was a new signal. It's annoying I know but it's the best you can do without a study.
makistar
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@janor123, thank you for that explanation! that makes sense. cheers! <3
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@makistar, I'm updating it regularly so if you added it to a chart before, you'll need to remove it from the chart and add again to get the latest version.
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@nakad, I'm updating it regularly so if you added it to a chart before, you'll need to remove it from the chart and add again to get the latest version.
@cryptohumster, yes I wanted to backtest with as much data as possible in order to prove that it works in all kinds of market conditions not just when the market is going up like it was last year