Cross impro test by Canundo Crossover Crossunder Tick valuesThis is a script where I tried to check the following things:
Even thought the tick of an asset is, for example 0.5, there are calculated prices, like SMA's that have even more decimals. Leading to crosses happening that for example happen at the same price. Consequently triggering totally useless in side markets. What happens if SMA values are restricted to the tick resolution? (Option works on it's own or with a combination of the others.)
What happens if I set my own tick value, like 0.8 instead of 0.5, what will be the effect for calculated values that are used for crossings? Will tick sizes improve the success rate? (This option will work only when the first option is active.)
Can success rate, especially for sideway markets be improved when adding a spread between MA's, so that it triggers less in sideway markets? (Option works on it's own or with a combination of the others.)
First of all, I had a hard time to round prices properly when it needs to be dynamic and working for different assets with different amounts of decimal values in the tick. The solution is that abs(floor(syminfo.mintick)) will give you the amount of decimals a tick has. It works for all ticks that are at least lower than 10. I'm not sure how huge ticks are out there. I did not implement this solution at the end since I found another way to test it.
Findings:
The first option, when activated, takes out half the trades and raises the percent profitability by 8% so there is some effect. However, all of the tested options have less advantage than I hoped for but are nevertheless something worthy for sideway markets. The first option just forces the MA's from the example to use the tick resolution.
See these two images. One when the first option is off, the second when it's active.
The lines are the MA's with adjusted values, the crosses are the places of the MA's when left as is.
Here a screenshot of the third option set to the value 2 on the 1 minute XBTUSD chart.
The advantage is that less trades trigger that have a low change in price and so less trading fees will happen.
The disadvantage is that all options can implement some delay for a crossing since the crossing will trigger once a slightly bigger move into the direction was taken.
This test environment was not meant to be profitable but to test the effects.
Maybe someone finds it interesting or wanted to test the same, so here you can save some work.
Cari dalam skrip untuk "profitable"
Visualizing Behaviors of barstate VariablesThe title pretty much sums up what this script does. It's intended for Pine Script developers, but especially for newcomers to Pine Editor contemplating the use of barstate variables. I would recommend using this on 15 second or 1 minute chart intervals for a quick and obvious analysis of barstate behaviors.
These barstate variables change from TRUE to FALSE or FALSE to TRUE during specific times/conditions of script operation. One unique state you might not ever see change is barstate.isfirst. This is only TRUE when bar_index==0, most easily viewed on the monthly "All" chart on the far left. I provided a label displaying the current bar_index for perspective. I hope this provides an improved grasp of barstate understanding for fellow members, as it did for myself.
When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members , I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
Truncated Bandpass Filter and Bandpass Filter - Dr. John EhlersWith the arrival of the blessed gifts of arrays from TV, I now present the REAL "Truncated Bandpass Filter" indicator employing PSv4.0 upon initial release, originally formulated by the magnificent mathemagician Dr. John Ehlers for TASC - July 2020 Traders Tips. Don't be bamboozled by the other incorrect truncated bandpass filters found on TV, those published with an erroneous haste that preceded Pine array availability. More information about these bandpass filters can be acquired with a simple search for this indicator's white paper, entitled "TRUNCATED INDICATORS by John F. Ehlers", on his site in the educational reference section.
This actually contains two indicators, one being the truncated bandpass, the other being a two pole bandpass which is also found in my Voss implementation. The two pole bandpass is primarily for comparison of both types, but as you can see, they share common code within both, one being truncated and the other not. I modified Ehlers' original truncation formulation by allowing the capability to alter the truncation period using two distinct methods. I will explain very briefly that the purpose of a truncated "infinite impulse response" filter is to dampen it's response. Truncation techniques aren't limited to only bandpass filters, "some" other IIR filters, but not all, may benefit from this as well.
Lastly this is a miniature starter lesson by example of how the new native Pine array functions may be used, along with other various methods such as `var` to improve computational efficiency on the cloud servers. Yep, native Pine arrays just doubled the "Power of Pine" by exponential magnitudes of power into the dimension of what I would now term as the "Immense Power of Pine" . The next generation capability of programming extremely advanced indicators has now successfully arrived on mothership Earth, right on TradingView's front lawn. Who would of known?? This is brought to you in part by the devoted voluntary efforts of the most skilled poetic programmers on TV, the likes of which most extraterrestrial alien programmers would fear. Ladies and Gents, YOU KNOW WHO YOU ARE. Wink, wink!
NOTICE: You have absolute freedom to use this source code any way you see fit within your new Pine projects. You don't have to ask for my permission to reuse these functions in your published scripts, simply because I have better things to do than answer requests for the reuse of the tbpf() and bpf() functions. Sufficient accreditation regarding this script and compliance with "TV's House Rules" regarding code reuse, is as easy as copying the functions in their entirety as is. Fair enough? Good!
Features List Includes:
Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting
AND a few more... Why list them, when you have the source code to explore!
When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
[blackcat] L1 Trading Risk Assessment Indicator Level: 1
Background
Risk assessment is a general term used in many industries to determine the likelihood of losing an asset, loan, or investment. Risk assessment is important in determining how profitable a particular investment is and which techniques are best for risk mitigation. It shows the upward reward versus the risk profile. Risk assessment is important in determining the rate of return an investor would need to earn in order to consider an investment as worth the potential risk.
Function
L1 Trading Risk Assessment Indicator provides a trading risk evaluation mechanism that follows the megatrend. By defining transaction risk as 4 levels: highly risky, risky, safe, and highly safe, the current bar’s evaluation value can be compared with historical bar data to understand the current level of trading risk and the level of trading risk Trend.
Key Signal
h1~h5 --> trading risk level threshold, which can be adjusted according different markets.
currentsafetylevel --> it indicates current bar risk assessment result
Pros and Cons
Pros:
1. according risk level, proper position size can be adjusted
2. know global trend and select propoer time to exit
Cons:
1. no exact long and short entry are disclosed
2. different markets require different thresholds
Remarks
An improved version of KDJ with less satration observed.
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
[blackcat] L2 KDJ with Whale Pump and OustLevel: 2
Background
One of the biggest differences between cryptocurrency and traditional financial markets is that cryptocurrency is based on blockchain technology. Individual investors can discover the direction of the flow of large funds through on-chain transfers. These large funds are often referred to as Whale. Whale can have a significant impact on the price movements of cryptocurrencies, especially Bitcoin . Therefore, how to monitor Whale trends is of great significance both in terms of fundamentals and technical aspects.
The KDJ oscillator display consists of 3 lines (K, D and J - hence the name of the display) and 2 levels. K and D are the same lines you see when using the stochastic oscillator. The J line in turn represents the deviation of the D value from the K value. The convergence of these lines indicates new trading opportunities. Just like the Stochastic Oscillator, oversold and overbought levels correspond to the times when the trend is likely to reverse.
Function
L2 KDJ with Whale Pump and Oust is a composite indicator that combines both KDJ and Whale Pump and Oust detector. By virtue of this, fake signal of KDJ can be filtered out to some degree.
Key Signal
whalepump --> whale buy behavior will be detected and displayed in green histograms
oust --> after whale buy behavior, there usually a oust action from whale to drive out profitable orders to reduce the selling pressure of subsequent pull ups. This oust will be detected and displayed in red histograms
k --> k value of a stochastic oscillator
d --> d value of a stochastic oscillator
j --> the deviation of the d value from the d value of a stochastic oscillator
Pros and Cons
Pros:
1. filter out KDJ fake signal by introducing whale pump/oust detector
2. J value can be used to detect overbought and oversold regions
Cons:
1. It works better in small time frame and sideways. Extreme long or short conditions may cause KDJ staturate.
2. It can only indicate in current time frame, larger time frame trend info is missing.
Remarks
An improved version of L2 KDJ with Whale Pump Detector by adding oust function. Works fine in 15mins time frame.
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Voss Predictor (A Peek Into the Future) - Dr. John EhlersI have been sitting on this for over a year, but I now present this "Voss Predictive Filter" multicator employing PSv4.0 upon initial release, originally formulated by the great and empowering Dr. John Ehlers for TASC - August 2019 Traders Tips. This is a slightly modified version of the original indicator John Ehlers designed. My improved implementation is an all-in-one combination of three indicators, consisting of Ehlers' 2-pole bandpass filter, fed into the Voss predictor, and my Correlation Color. I also purposefully attempted to make this indicator work on both "Light" and "Dark" charts equally well.
You can search for this indicator's white paper, entitled "A PEEK INTO THE FUTURE By John Ehlers", on his site in the educational reference section. It's VERY important that you fully grasp how this indicator works and when it doesn't during trending price movements. According to "TV House Rules", I can't link directly to his white paper on his web site. Technically he's a vendor, even though it has been divulged to me, that he is intending to retire after his last and final wØℾk$#Øp, where he is publicly disseminating the bulk of his unpublished proprietary code that drives his other website VERY SOON.
I love John Ehlers in a respectfully appreciative manner and he is my hero in life! I simply don't revel about pretended celebrities and supposed rock stars. I will never be able to adequately explain to you how much he has influenced me AND this website as it currently exists AND what is in store for the future of the ever evolving "Power of Pine". His inspiring legacy of code poetry shall forever be immortally enshrined here on TV and influence it.
Back to the topic of interest, this script originating from John Ehlers' mind... This indicator helps to anticipate cyclic turning points via negative group delay. It is NOT a predictive crystal ball. Do not become cluelessly disillusioned by it's title. I need to explain.
For example, this indicator could not have anticipated that the bold faced lie of "15 Days to Slow the Spread" of the CHImeravirus "plandemic" in the USA, would turn into our factual reality of multi state mandated orders demanding months of unconstitutional prison cell styled lockdowns with closures and the absurd criminalization of not wearing a mouth mask made from underwear while not being evidently ill, additionally combined with 24/7 black magick mass hypnosis spoon feeding non-scientific fear based psychological propaganda from the world's "finest" epidemiological data analysts and misleaders, eventually decimating the world's markets into zombie economies with abhorrent results of long term massive unemployment and financial hardship on a chart scale never before witnessed. Yep, it's NOT capable of predetermining any of that. I just wanted to make that very clear by example in a metaphorical manner many people can relate to concerning Voss' ability to anticipate.
The indicator consists of a bandpass filter coupled to the Voss predictor. Also, one thing about the Voss predictor, it can catch minute turning points or even false ones as explained in the white paper. So... I included my Correlation Color as a fitting companion to aid you in filtering out false signals during trending price movements. The Voss Predictive Filter should never be used alone, be forewarned!
Features List Includes:
Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting
AND a few more... Why list them, when you have the source code to explore!
When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members , I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
PineScript v4 - Forex Pin-Bar Trading StrategyPineScript v4, forex trading robot based on the commonly used bullish / bearish pin-bar piercing the moving averages strategy.
I coded this robot to stress-test the PineScript v4 language to see how advanced it is, and whether I could port a forex trading strategy from MT4 to TradingView.
In my opinion, PineScript v4 is still not a professional coding language; for example you cannot use IF-statements to modify the contents of global variables; this makes complex robot behaviour difficult to implement. In addition, it is unclear if the programmer can use nested IF-ELSE, or nested FOR within IF.
The sequence of program execution is also unclear, and although complex order entry and exit appears to function properly, I am not completely comfortable with it.
Recommended Chart Settings:
Asset Class: Forex
Time Frame: H1
Long Entry Conditions:
a) Moving Average up trend, fast crosses above slow
b) Presence of a Bullish Pin Bar
c) Pin Bar pierces either Moving Average
d) Moving Averages must be sloping up, angle threshold (optional)
Short Entry Conditions:
a) Moving Average down trend, fast crosses below slow
b) Presence of a Bearish Pin Bar
c) Pin Bar pierces either Moving Average
d) Moving Averages must be sloping down, angle threshold (optional)
Exit Conditions:
a) Stoploss level is hit
b) Takeprofit level is hit
c) Moving Averages cross-back (optional)
Default Robot Settings:
Equity Risk (%): 3 //how much account balance to risk per trade
Stop Loss (x*ATR, Float): 2.1 //stoploss = x * ATR, you can change x
Risk : Reward (1 : x*SL, Float): 3.1 //takeprofit = x * stop_loss_distance, you can change x
Fast MA (Period): 20 //fast moving average period
Slow MA (Period): 50 //slow moving average period
ATR (Period): 14 //average true range period
Use MA Slope (Boolean): true //toggle the requirement of the moving average slope
Bull Slope Angle (Deg): 1 //angle above which, moving average is considered to be sloping up
Bear Slope Angle (Deg): -1 //angle below which, moving average is considered to be sloping down
Exit When MA Re-Cross (Boolean): true //toggle, close trade if moving average crosses back
Cancel Entry After X Bars (Period): 3 //cancel the order after x bars not triggered, you can change x
Backtest Results (2019 to 2020, H1, Default Settings):
EURJPY - 111% profit, 2.631 profit factor, 16.43% drawdown
EURUSD - 103% profit, 2.899 profit factor, 14.95% drawdown
EURAUD - 76.75% profit, 1.8 profit factor, 17.99% drawdown
NZDUSD - 64.62% profit, 1.727 profit factor, 19.14% drawdown
GBPUSD - 58.73% profit, 1.663 profit factor, 15.44% downdown
AUDJPY - 48.71% profit, 1.635 profit factor, 11.81% drawdown
USDCHF - 30.72% profit, 1.36 profit factor, 22.63% drawdown
AUDUSD - 8.54% profit, 1.092 profit factor, 19.86% drawdown
EURGBP - 0.03% profit, 1.0 profit factor, 29.66% drawdown
USDJPY - 1.96% loss, 0.972 profit factor, 28.37% drawdown
USDCAD - 6.36% loss, 0.891 profit factor, 21.14% drawdown
GBPJPY - 28.27% loss, 0.461 profit factor, 39.13% drawdown
To reduce the possibility of curve-fitting, this robot was backtested on 12 popular forex currencies, as shown above. The robot was profitable on 8 out of 12 currencies, breakeven on 1, and made a loss on 3.
The default robot settings could be over-fitting for the EUR, as we can see out-sized performance for the EUR pairs, with the exception of the EURGBP. We can see that GBPJPY made the largest loss, so these two pairs could be related.
Risk Warning:
This is a forex trading strategy that involves high risk of equity loss, and backtest performance will not equal future results. You agree to use this script at your own risk.
Simple and efficient PSAR swing strategyThis is a strategy build inside tradingview, which I found it works great with swing/position trading.
It works based on parabolic sar indicator, when indicator is below the candle, is an uptrend and when its its above is a downtrend.
At the same time it's very nice, because it has a sort of stop loss which is dynamic, because it triggers when candle crosses with indicator, so you dont have to worry about stop loss or take profit .
The key here of course, is going to be the risk management, if you want to success with it, never trade more than 2% of you capital, and if you want you can always apply a rule inside the code to close all position if x % amount of equity was going down, although I recommend have patience and let the system do its job.
I recommend this strategy to be used with charts like 1 day or 1 week. If you need and want I can convert it to an indicator that uses alerts (although with strategy as well can be made to send alerts).
PS. When you add this strategy on chart, inside is has different versions, if you use first version(1), it uses the system I explain above. If you use the last one, its based on risk management when the stop loss is the difference between psar and the candle, but it still needs some adjustments to make.
Overall first one is atm much more profitable, but I believe that the version with risk management can be much better, but it need much more adjustments to make which I dont have the time at the moment for it.
Enjoy it .
McGinley Dynamic (Improved) - John R. McGinley, Jr.For all the McGinley enthusiasts out there, this is my improved version of the "McGinley Dynamic", originally formulated and publicized in 1990 by John R. McGinley, Jr. Prior to this release, I recently had an encounter with a member request regarding the reliability and stability of the general algorithm. Years ago, I attempted to discover the root of it's inconsistency, but success was not possible until now. Being no stranger to a good old fashioned computational crisis, I revisited it with considerable contemplation.
I discovered a lack of constraints in the formulation that either caused the algorithm to implode to near zero and zero OR it could explosively enlarge to near infinite values during unusual price action volatility conditions, occurring on different time frames. A numeric E-notation in a moving average doesn't mean a stock just shot up in excess of a few quintillion in value from just "10ish" moments ago. Anyone experienced with the usual McGinley Dynamic, has probably encountered this with dynamically dramatic surprises in their chart, destroying it's usability.
Well, I believe I have found an answer to this dilemma of 'susceptibility to miscalculation', to provide what is most likely McGinley's whole hearted intention. It required upgrading the formulation with two constraints applied to it using min/max() functions. Let me explain why below.
When using base numbers with an exponent to the power of four, some miniature numbers smaller than one can numerically collapse to near 0 values, or even 0.0 itself. A denominator of zero will always give any computational device a horribly bad day, not to mention the developer. Let this be an EASY lesson in computational division, I often entertainingly express to others. You have heard the terminology "$#|T happens!🙂" right? In the programming realm, "AnyNumber/0.0 CAN happen!🤪" too, and it happens "A LOT" unexpectedly, even when it's highly improbable. On the other hand, numbers a bit larger than 2 with the power of four can tremendously expand rapidly to the numeric limits of 64-bit processing, generating ginormous spikes on a chart.
The ephemeral presence of one OR both of those potentials now has a combined satisfactory remedy, AND you as TV members now have it, endowed with the ever evolving "Power of Pine". Oh yeah, this one plots from bar_index==0 too. It also has experimental settings tweaks to play with, that may reveal untapped potential of this formulation. This function now has gain of function capabilities, NOT to be confused with viral gain of function enhancements from reckless BSL-4 leaking laboratories that need to be eternally abolished from this planet. Although, I do have hopes this imd() function has the potential to go viral. I believe this improved function may have utility in the future by developers of the TradingView community. You have the source, and use it wisely...
I included an generic ema() plot for a basic comparison, ultimately unveiling some of this algorithm's unique characteristics differing on a variety of time frames. Also another unconstrained function is included to display some the disparities of having no limitations on a divisor in the calculation. I strongly advise against the use of umd() in any published script. There is simply just no reason to even ponder using it. I also included notes in the script to warn against this. It's funny now, but some folks don't always read/understand my advisories... You have been warned!
NOTICE: You have absolute freedom to use this source code any way you see fit within your new Pine projects, and that includes TV themselves. You don't have to ask for my permission to reuse this improved function in your published scripts, simply because I have better things to do than answer requests for the reuse of this simplistic imd() function. Sufficient accreditation regarding this script and compliance with "TV's House Rules" regarding code reuse, is as easy as copying the entire function as is. Fair enough? Good! I have a backlog of "computational crises" to contend with, including another one during the writing of this elaborate description.
When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
The Lazy Trader - Index (ETF) Trend Following Robot50/150 moving average, index (ETF) trend following robot. Coded for people who cannot psychologically handle dollar-cost-averaging through bear markets and extreme drawdowns (although DCA can produce better results eventually), this robot helps you to avoid bear markets. Be a fair-weathered friend of Mr Market, and only take up his offer when the sun is shining! Designed for the lazy trader who really doesn't care...
Recommended Chart Settings:
Asset Class: ETF
Time Frame: Daily
Necessary ETF Macro Conditions:
a) Country must have healthy demographics, good ratio of young > old
b) Country population must be increasing
c) Country must be experiencing price-inflation
Default Robot Settings:
Slow Moving Average: 50 (integer) //adjust to suit your underlying index
Fast Moving Average: 150 (integer) //adjust to suit your underlying index
Bullish Slope Angle: 5 (degrees) //up angle of moving averages
Bearish Slope Angle: -5 (degrees) //down angle of moving averages
Average True Range: 14 (integer) //input for slope-angle formula
Risk: 100 (%) //100% risk means using all equity per trade
ETF Test Results (Default Settings):
SPY (1993 to 2020, 27 years), 332% profit, 20 trades, 6.4 profit factor, 7% drawdown
EWG (1996 to 2020, 24 years), 310% profit, 18 trades, 3.7 profit factor, 10% drawdown
EWH (1996 to 2020, 24 years), 4% loss, 26 trades, 0.9 profit factor, 36% drawdown
QQQ (1999 to 2020, 21 years), 232% profit, 17 trades, 3.6 profit factor, 2% drawdown
EEM (2003 to 2020, 17 years), 73% profit, 17 trades, 1.1 profit factor, 3% drawdown
GXC (2007 to 2020, 13 years), 18% profit, 14 trades, 1.3 profit factor, 26% drawdown
BKF (2009 to 2020, 11 years), 11% profit, 13 trades, 1.2 profit factor, 33% drawdown
A longer time in the markets is better, with the exception of EWH. 6 out of 7 tested ETFs were profitable, feel free to test on your favourite ETF (default settings) and comment below.
Risk Warning:
Not tested on commodities nor other financial products like currencies (code will not work), feel free to leave comments below.
Moving Average Slope Angle Formula:
Reproduced and modified from source:
SSL Backtester With ATR SL TP and Money ManagementSimilar to other SSL Channel scripts, but this one allows you to set an ATR-derived stop loss and adds the option to risk a % of the equity or used a fixed lot.
Enters upon a long or short SSL crossover.
FIXED LOTS
For 0.01 "lots" use 1000
For 1 standard lot, use 100,000
FOR MONEY MANAGEMENT
For 1% risk, enter 0.01
For 10% risk, enter 0.1
etc
You should be able to adapt this to any other indicator by just changing the entry conditions and adding your own indicator values.
It is not meant to be a profitable script, just a template to begin adding money management ideas to existing scripts which currently just enter and exit on an event.
3 Leg Short Strangle BandsDraws 3 leg bands along with safe zone(green lines) based on input
1) Input ATR, Week Day, Current Market Close
2) Input ATR - Previous day 1H Max ATR
3) ADX < 25
4) Input Current Market Close
5) Trading Day - Mon/Tue/Wed/Thu/Fri - Bands distance calculated based on day M/Tu/F 2*(Max ATR), W/Th 1.5(ATR)
6) Safe zone green lines - CMPCls +/- (1.5 * Max ATR)
7) Leg 1 Upper Lower Legs - M/Tu/F - CMPCls +/-(2 * Max ATR), W/Th - CMPCls +/-(1.5 * ATR)
8) Leg 2 & 3 Calculates based on Leg 2 = Leg 1 +/- 100 pts distance, Leg 3 = Leg 2 +/- 100 pts distance'
9) All figures rounded to nearest 100's
10) Safe zone broken exit all positions
This is a popular technic used by Profitable traders on sideway markets for Intraday
One can keep 3K as SL per 1 set of 3 legs for better R:R
Buurmans TutorialA little Script as part of a Tutorial using Monday as entries and Friday as exits/shorts, with option to Long-Only and a rudimentary Stoploss.
outlined in detail here
can't find a better fitting Category, so bear with me
Random entry pointsIt is profitable strategy with random entry points.
A simple strategy involving random opening of trades. But such a strategy on large samples will demonstrate profit. Because the strategy adheres to the golden rule of trading: "Let profits rise and quickly stop losses."
Remember, exit points are very important. Many traders make the mistake of focusing all their attention on entry points.
Mean recursion envelopeFree for public consumption
There is very little original here, the idea is discussed in the underground traders alliance, (google em), and was apparently the basis of what was at one time myfxbooks most profitable strategy.
I can't find the original video that was floating around on youtube, but if i find it again, i'll link it here.
This is bascially just the TV default envelope code copied and modified.
The idea is to have an envelope based on a low length, exponential basis. Then to manually "tune" the percent input so that the envelopes engulf most bars. Whenever price goes outside the envelopes (especially at key levels), look for a change to enter a reversion back to the ema.
This manual tuning when switching between time-frames and symbols of the percentage input, becomes arduous.
Instead this script uses the TV envelope code, but gets a setting based on the average of true range and "autotunes" with this.
Anything that protrudes beyond that level, especially at key levels, is likely to revert back to the ema. Bear in mind, a run away trend will also push past the envelopes and continue running for several (3-5) bars so, use it mindfully and thoughtfully with all the usual cautions about risk management.
RSI Plus v1.0 by WilsonThis is a modified version of my RSI Cloud indicator. I have included the option to plot 2 moving averages. Type of moving averages included in the script are SMA, EMA, WMA, VWMA, Hull MA and ALMA. Option to fill colors and to add alerts are included. I shall be including more options in a future update.
Anyone is free to copy and modify the script. Wishing everyone happy and profitable trading.
RSI+ by WilsonThis is a modified version of my RSI Cloud indicator. You can plot 2 moving averages over RSI. You have the option to plot moving average types like SMA, EMA, WMA, VWMA, HullMA, and ALMA. You also have the option to plot histograms based on any of the moving averages. You can fill colors between RSI and moving averages. Option to add alerts, crossover and crossunder signals are also included. I have also included a band to show the position of RSI using three colors. Green color is shown when RSI is above both the plotted moving averages. Red color is shown when RSI is below both the plotted moving averages. And Yellow color is shown when RSI is between the two plotted moving averages. Anyone is free to use the script. Wishing everyone happy and profitable trading.
RSI Cloud by WilsonThis indicator will help you to be on the right side of the trend always. Wishing you a happy and profitable trading experience.
Momentum PinballMomentum Pinball, when you get a buy/sell signal, wait for the next day
enter on the high or low of the first hour and place a stop in the low/high
of the first hour. If the day you get filled closes profitable you can decide to close
the trade buy the end of the day or hold overnight and exit the following morning
Mean Deviation Detector - Throw Out All Other IndicatorsI set out this morning to create a script that searches out price moves that went too far too fast relative to historical pricing, given that such situations often result in the most profitable trading opportunities. I came up with the mean deviation detector. This script should be used as a means of judging how far a price is trading, in percent terms, from it's "average trading zone".
This is extremely helpful in a couple scenarios.
First, it can be used to judge a move's volatility relative to it's previous volatility. Put simply, a 5% move in the stock of Coca Cola is a lot more meaningful than a 5% move in the stock of Tesla, and the detector puts moves into historical (visual) perspective.
Second, the indicator can be used in real time as a means of determining when the chances of mean reversion are high or low. Extreme values are unsustainable and often lead to EITHER A.) price mean reversion or B.) time mean reversion. Put simply, prices either went too far and are due to fall back to a historical mean, or they need more time to digest a potentially new pricing zone.
Without getting too deep into volume profile analysis, the MDD can be a simple way of telling that a stock has moved into an "air pocket", where prices will either come back to the previous volume node (price mean reversion) or set up shop in a new, uncharted area (time mean reversion).
An extreme value doesn't always mean a trading opportunity, but it means that something interesting is happening in the stock / instrument.
I use this indicator to help me trade covered calls. Lots of high yielding weekly opportunities are stocks that have moved too far too fast, and I like to use this indicator as a means of either a.) scooping up stocks that have gotten beat up from a historical mean perspective & have likely seen the risk already "beaten" out of them, or to b.) stay away from stocks that have a very high chance of price correcting lower. In situations where I say that the risk has been "beaten" out of something, it doesn't mean that the stock won't continue to fall, it simply means that the degree and acceleration of the fall has peaked and that risk premiums in selling options will / should easily pay for continued losses. In the event that it's a price correction and not a time correction, you also increase your bat rate because you get auto-liquidated at a max profit. It's a really valuable tool in my kit.
You can also feel free to put a Keltner Chanel overlay onto the MDD to filter out noise, identify "extreme" values, and place mean reversion trades if you expect price mean reversion is likely, if you want to use this as the basis of a proper trading strategy. For a high extreme value, you could sell short term OTM call spreads, for example.
The MDD is adaptable to your own trading style & preferences.
MM testerYou can test a two ema / sma strategy changing type of MM and length on settings.
If you get a profitable combination you can share it in the comments :)
ADX_TSI_Bol Band Trend ChaserThe idea of this script is to be a low risk strategy on trending stocks (or any other trending market), aiming to achieve minimal draw down (e.g. at time of writing AAPL only had ~1.36% draw down, FB ~1.93% draw down and the SPY was 0.80% draw down and all remained profitable).
Testing proved it shouldn't be used in choppy stocks and best period was on daily charts. The back test filter goes back until 2010 so you can obtain 10 years of data.
The strategy utilizes the 200 Moving Average, a Custom Bollinger Band, a TSI with 52 period weighted moving average and ADX strength.
Although back test dates are set to 2010 - 2020, all other filters (moving average, ADX, TSI , Bollinger Band) are not locked so they can be user amended if desired. However the current settings have been tested with manual trading for quite some time to get this combination correct.
Buy signal is given when trading above the 200 moving average + 5 candles have closed above the upper custom Bollinger + the TSI is positive + ADX is above 20.
As back testing proved that this traded better only in tends then some Sell/Short conditions have been removed from the script and this only takes Long orders.
Only requires 2 additional lines of code to add shorting order and then remove the "buy" condition and this could be used for a downward trending stock instead.
Close for either long or short trades is signaled once the TSI crosses in the opposite direction indicating change in trend strength.
Further optimization could be achieved by adding a stop loss, which I may do in the future.
NOTE: This only shows the lower indicators however for visualization you can use my script "CUSTOM BOLLINGER WITH SMA", which is the upper indicators in this strategy.
This is my first attempt at coding a strategy so I'm happy to receive any feedback or hints on how this could be written better from any experienced coders!
NASDAQ:AAPL AMEX:SPY
Best strategy for TradingView (fake)Hello everyone! I want to show you this strategy so you don't fall for the tricks of scammers. On TradingView, you can write an algorithm (probably more than one) that will show any profit you want: from 1% to 100,000% in one year (maybe more)! This can be done, for example, using the built-in linebreak () function and several conditions for opening long and short.
I am sure that sometimes scammers show up on TradingView showing their incredible strategies. Will a smart person sell a profitable quick strategy? When a lot of people start using the quick strategy, it stops working. Therefore, no smart person would sell you a quick strategy. It is acceptable to sell slow strategies: several transactions per month - this does not greatly affect the market.
So, don't fall for the tricks of scammers, write quick strategies yourself.
About this strategy, I can say that the linebreak () function does not work correctly in it. Accordingly, the lines are not drawn correctly on the chart. They are drawn in such a way as to show the maximum profit. I watched this algorithm on a 1m timeframe - no lines are drawn in real time. This is a fake!
