[XRP][1h] Chanu Delta inspired — Breakeven Strategy

4 Okt 2022

Hello, this is my first TV contribution. I usually don't publish anything but the script is a quick review of an other contributor (Chanu Delta V3 script

)
I reverse engineered this indicator today as I wanted to test it on other contracts. The original version (which aims to be traded on BTC) has been ported to XRP (as btc and xrp prices are narrowly correlated) then modified with a couple of what I believe are improvements:

- No backtest bias even with `security` function.
- Extra backtest bias validation, always trading on next bar as Crossover/under bias is confirmed
- Backtest with 2 ajustable TP, ajustable equity and breakeven option
- The current version is not design to use pyramiding as it would require extra logic to monitor the lifecycle of the position in the context of a study.
- Commented alerts examples with variables available in script scope so you can use them in alerts (just replace strategy with indicator and remove backtest related code block).
- Trade filling assumption set to 10, fees to 0.02 as the are default bybit maker fees and I advice to enter with trailing orders using a max of 2 ticks as offset to lower fees rather than a market order!
- Backtest and Alerts happen on barclose.
- No repaint guaranteed.

There are a thousand ways to improve it (adx/bb based dynamic TP/SL, order lifecycle, pyramiding...) but it seems to be a cool starting point.
Don't forget to have fun!