Easy profits is a script for quick on the go setups. Low maintenance is a nice part of this script.
I simply found most scripts to be too technical and this was the motivation for a clear and simple script.
I believe it will work well in any market and not just crypto currency. (only tested on crypto)
Settings are minimal, and very simple.
You can trade this script manually or send signals to your bot.
The idea behind the script is to prevent down-trending trades and get you out quickly if the trade does flip unexpectedly.
So we minimize draw down, but do get in on the good trades quickly.
The script does keep the draw down low and makes it clear if your TSI is set up well enough to avoid noisy and down trending trades.
The style is now very flexible to setup your preferences, for a sleek looking chart.
We no longer use ma crosses for buy and sell signals, this is now automatically controlled by price action. No more intricate settings.
Trend strength is the only setting you need to set to your preference.
There is a companion script to visually see how your TSI settings are changed.
The overlays will also visually show if your alerts and script settings don't match.
How it works:
The background color highlights the whether the tend is strong enough to confirm the buy signal.
Lime means the trade will be taken and blue means the trend was not strong enough and so the buy signal will be rejected.
X_buy - Orange = trade was rejected and not calculated.
Buy- Lime = Trade was taken and calculated.
Always check that your "Initial capital" matches your "Order size".
Check your base currency. Defaults are setup for Crypto base currencies.
Check your commission percentage.
3 TSI settings:
Long - default is "25"
Short - default is "2"
Signal - default is "10"
Change your date back test range.
I highly recommend keeping a spread sheet with your settings and summary, as your settings when you open a new chart will fall back to the last settings you used on a previous chart or pair.
Once you are happy with your setup check the list of trades to confirm that you like what you see. You can also view the list of trades of this publication above.
Always remember longer time frames are more accurate when back testing and spread matters less.
It's always wise to start with small amounts, test your setup!!!
Make sure you will make money first and then make money, instead of losing your funds before you started.
Simply select Frequency (Option) I recommend "once per bar close".
Select - "Buy" or "Sell"
Enter your exchange - default is "BINANCE"
Enter your Base Pair - default is "BTC"
Enter your pair.
Note- you will get sell alerts on every sell signal, this is left that way to make sure you always get the first sell signal.
TSI- does not impact sell signals.
It did cost money and time to create this script, but we all need to make some money so there is a minimal fee of 0,005BTC.
If you would like two take look, send me a message on tradingview, click follow and I will grant you two days access to the script.
However the alert script will only be available upon payment.