Ultimate T3 Fibonacci for BTC Scalping. Look at backtest report!Hey Everyone!
I created another script to add to my growing library of strategies and indicators that I use for automated crypto trading! This strategy is for BITCOIN on the 30 minute chart since I designed it to be a scalping strategy. I calculated for trading fees, and use a small amount of capital in the backtest report. But feel free to modify the capital and how much per order to see how it changes the results:)
It is called the "Ultimate T3 Fibonacci Indicator by NHBprod" that computes and displays two T3-based moving averages derived from price data. The t3_function calculates the Tilson T3 indicator by applying a series of exponential moving averages to a combined price metric and then blending these results with specific coefficients derived from an input factor.
The script accepts several user inputs that toggle the use of the T3 filter, select the buy signal method, and set parameters like lengths and volume factors for two variations of the T3 calculation. Two T3 lines, T3 and T32, are computed with different parameters, and their colors change dynamically (green/red for T3 and blue/purple for T32) based on whether the lines are trending upward or downward. Depending on the selected signal method, the script generates buy signals either when T32 crosses over T3 or when the closing price is above T3, and similarly, sell signals are generated on the respective conditions for crossing under or closing below. Finally, the indicator plots the T3 lines on the chart, adds visual buy/sell markers, and sets alert conditions to notify users when the respective trading signals occur.
The user has the ability to tune the parameters using TP/SL, date timerames for analyses, and the actual parameters of the T3 function including the buy/sell signal! Lastly, the user has the option of trading this long, short, or both!
Let me know your thoughts and check out the backtest report!
Predict
Predict DinhChienFX's1. Identify the trend
* On the chart:
a. Part of Dow theory: multi-trades active at the impulse waves.
Uptrend trend:
- HH / Higher High: The following peak is higher than the previous one.
- HL / Higher Low: The back bottom is higher than the previous one.
Downtrend:
- LL / Lower Low: The back bottom is lower than the previous one.
- LH / Lower High: The posterior peak is lower than the previous one
b. Keltner price channel:
Uptrend: Go above Upper 2
Bearish trend: Down to Lower 2
* Under Chart:
Stochastic indicator: 21 past candles
- Uptrend: Index K and D surpass 80
- Buy zone: Index D is large 80.
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- Downward trend: K and D indexes go down to 20.
- Sell zone: Index D is less than 20.
RSI indicator: 21 past candles
- Uptrend: value exceeds 80.
- Downward trend: value exceeds 20.
ADX indicator: Used to identify a strong trend
- ADX smooth: 9
- DI: 9
2. Entry point:
- Buy: wait to buy on the Upper Keltner channel.
- Sell (sell): wait for sell at the Lower Keltner channel.
3. Take profit, stoploss
ATR indicator (20) (Average true range) * 2
