This script can be used for backtesting pupose and also to give buy/sell signals based on the settings provided by you.
Benefits of the script:
1> Fully customizable script according to your trade setups.
2> The script incorporates Take-profit, Stop-loss & Trailing SL.
3> Cuts your losses significantly, in comparision to a script without TP, SL & TL strategies.
4> Based on Overbought/Oversold levels, which can also be customizable.
5> Doesn't take too many trades in a day, thereby decreasing commission paid to exchanges & hence enhances the overall profit.
Here's how, you can fully customize the script, according to your strategy, once you have been provided access:
(To gain access to the script just hit the like/comment in the #tradingview published article & i'll grant access based on your tradingview userid)
You can add this script to your charts in 15min timeframe, like adding any other simple indicator.
Once you have added the script, just hit the settings button to fully customize the script according to your strategy and plan, that you have, for your trade setup.
Take profit, Stop loss, Trailing Stop loss values can be entered in satoshis from the setting panel.
Overbought & Oversold values can also be entered according to your trading setup.
Like in below example, i have put the following values as default
Test date is set as 1 May 2018
Take profit=1000, stop loss=5, Trailing SL=40
"Above mentioned values are default values and may not be profitable in every condition, you have to backtest the strategy by changing these values and then see the results of given values under the Strategy tester tab- located at bottom of your #tradingview chart. "
Lets see how the scipt is able to make these awesome gains:
Suppose your script enters a trade(buys Verge) when #Verge is at 800sats
Then the bot will close the trade(sell Verge) when either of these things happen:
a> Verge surges to 1800 sats , then the script will close trade by Taking profit
b>Verge increases to 850 only, but the value in 15min chart has gone above 70 (Overbought-default value) then scipt will close trade.
c>Verge decreases to 995 sats , then script will close trade by Stop loss hit.
d>Verge surges to 840 but then again drops slightly to 835, script will again close trade by Trailing SL hit.
Initial capital is set to 10 btc
Make sure to check the performance summary tab below and overview of the script running on #XVGBTC since 1 May 2018-Till date
Profit-11.6% while running script
Where Buy and hold return for verge in the same period is:
Detailed review of the script with performance summary on 3 altcoins- #TRON #Verge & #Neblio and other howto's given in the artilce below:
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