CUT MY LOSSESS - Levereged Stop loss + R / R ratio checker Hello traders!
We have heard many times that keep your losses small and allow your profits to grow. But what happens is that we often make the mistake of doing high-margin trades that we cannot afford to lose. The main reason for this problem, in my opinion, is the rush to open a position and not paying attention to how much acceptable loss in each trade is for us? Is our stop loss point compatible with the loss we are willing to accept?
Many of the losses we incur are not due to our erroneous analysis but to the wrong trading strategy, miscalculation of Stop Loss and failure to calculate the Risk/Reward for each trade. At least for most novice traders, these mistakes happen .
This script does not have complicated logic and is designed only as a help for those who are not interested in working with calculators !! I hope that sometimes that we are very excited to buy, looking at this script can give us a serious flip to avoid risk .
This is a basic script that helps us to intuitively check our stop loss in according to our leverage and to guess the approximate risk/reward of our trade. This script assumes that you always trade with half of your total capital. It is also assumed that you routinely use up to ten percent of your capital for each trade. Therefore, the first variable in this script is the amount of tolerable loss in each trade for you, which is set to 25% by default. So if you follow the previous assumptions, each trade will endanger 2.5% of your capital.
Since not all analyzes are ever accurate, we need to enter into positions that have good Risk/Reward ratio, so that even if half of our analysis fails, we will profitable. Therefore, the second variable in this script is the acceptable Risk/Reward ratio for us, which is set to 1:4 by default.
Also, to check the efficiency of the stop-loss with different trading leverage, I add five leverage by default from 1 to 5 as lines on the side of your stop-loss point.
LeV A (Lowest Leverage-WHITE): 1 by default
LeV B (AQUA): 2 by default
LeV C (YELLOW): 3 by default
LeV D (ORANGE): 4 by default
LeV E (Highest Leverage-RED):5 by default
You can change all these leverages and Acceptable margin loss and R/R ratio according to your needs.
You can also hide the leverage lines you are not dealing with through the script settings .
You will also see lines on the side of your target point to check your risk/reward ,so you can approximate your target according to your trading leverage and the risk/reward you accept. you can also hide these R/R lines from the setting.
Important Note: This script is not designed to give you a stop loss point or take profit point.
To find these points, you must use technical analysis methods , and then use this script to check the coordination of these points with your trading strategy.
Using the script is simple, but I will try to explain it with a few examples.
Cari dalam skrip untuk "profitable"
Stochastic with MACD filter + SL/TP + AlertsLong Arrow : close of the candle is above ema + Stochastic is oversold + MACD is below 0 + Stochastic cross up
Short Arrow : close of candle is below ema + Stochastic is overbought + MACD is above 0 + Stochastic cross down
Also added SL, 1:1 and TP where SL can be varied by ATR value and TP is set to 2:1 RR but it can be varied too.
It is not meant to take every single trade even though that might already be profitable.
For higher winrate look for the higher timeframe trend for example when trading the 15min look if the Daily 8ema is going up or down.
Also only take trades when there is either a hidden divergence on RSI or a smaller normal divergence.
The I take the normal divergenes alo when there is no higher high like an M or lower low for longs like a W these tend to work out pretty good too.
Alerts are in it too.
Have Fun :)
Floor Pivots With CPR and Camarilla 3 LevelsThis script plots floor pivots with the central pivot range and camarilla R3/S3 pivots, to spot with ease the Golden Pivot Zone (GPZ). As described in the book *Secret of a pivot Boss* by Franklin Ochoa, the Golden Pivot Zone occurs when R3 or S3 pivot from the Camarilla Equation or from lies within the central pivot range. This combination can be simply profitable.
A bearish GPZ occurs when R3 of the Camarilla Equation is mixed within the central pivot range, therefore we should look for sells in that zone.
A bullish GPZ occurs when S3 of the Camarilla Equation is mixed within the central pivot range, therefore we should look for buys in that zone.
Here are some examples on Gold
Good luck !
Ps* i got part of the code from @cristian.d script
scalping against trapped countertrendAbstract
This script attempts to find the end of countertrend.
This script uses oscillators to measure long term and short period trends. When the long term trend keeps positive and clear short term period is over, this script provides a buy signal.
This script does not contain pullback, cut loss and re-enter. You need to add it manually.
Introduction
Many traders want to buy when long term trend is bullish and short term pullback is over.
This is because we can take advantage to the emotion of countertrend traders.
Countertrend traders realizes their profit is finite and therefore want to protect their profit well and limit their loss.
This script is inspired by a searchable trading strategy video.
The video mentioned 4 points.
(1) long term trend. The video did not spend much ink on this point. You can use any method to observe.
(2) clear pullback bar (at least 50% body)
(3) weak bar after clear pullback
(4) entry trigger buy stop
This script attempts to quantize these points to determine trading direction.
This script is originally designed for timeframes lower than examples in the video but you can apply it on any timeframe.
Computing and Adjusting
(1) long term trend
This script uses smoothed stochastic.
(2) clear pullback bar
Since this script is originally designed for timeframes lower than examples in the video, so the condition becomes:
RSI is low enough
(3) weak bar after clear pullback
RSI goes back from low level.
(4) entry trigger buy stop
This script does not include this condition.
You can decide enter when buy stop or pullback.
Parameters
x_src : the value for computing oscillators
x_len_a : how many bars for measuring short term trend
x_len_b : how many bars for measuring long term trend
x_k_b : smooth long term trend, the average value of stochastic values
x_changk = check if clear short term pullback appears recently. 1 means do not use, larger numbers means how long of periods to check.
x_rsi_ct : threshold of short term pullback clear
x_rsi_ft : threshold of short term pullback end
Reading numbers in Strategy Tester
Most possible loss :
(1) to find rational pullback. Generally 1/3 to 2/3 atr.
(2) to find cut loss distance. Generally 1 to 2 atr.
Most possible profit :
to find if trading the opposite direction against this script is profitable.
Conclusion
This script can suggest us trading direction.
Waiting for pullback can reduce risk, compared to buy stop.
This script does not provide good signals in sideways markets.
Reference
A searchable trading strategy video
TradingView Alerts to MT4 MT5 - Forex, indices, commoditiesHowdy Algo-Traders! This example script has been created for educational purposes - to present how to use and automatically execute TradingView Alerts on real markets.
I'm posting this script today for a reason. TradingView has just released a new feature of the PineScript language - ALERT() function. Why is it important? It is finally possible to set alerts inside PineScript strategy-type script, without the need to convert the script into study-type. You may say triggering alerts straight from strategies was possible in PineScript before (since June 2020), but it had its limitations. Starting today you can attach alert to any custom event you might want to include in your PineScript code.
With the new feature, it is easier not only to execute strategies, but to maintain codebase - having to update 2 versions of the code with each single modification was... ahem... inconvenient. Moreover, the need to convert strategy into study also meant it was required to rip the code from all strategy...() calls, which carried a lot of useful information, like entry price, position size, and more, definitely influencing results calculated by strategy backtest. So the strategy without these features very likely produced different results than with them. While it was possible to convert these features into study with some advanced "coding gymnastics", it was also quite difficult to test whether those gymnastics didn't introduce serious, bankrupting bugs.
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How does this new feature work? It is really simple. On your custom events in the code like "GoLong" or "GoShort", create a string variable containing all the values you need inside your alert and this string variable will be your alert's message. Then, invoke brand new alert() function and that's it (see lines 67 onwards in the script). Set it up in CreateAlert popup and enjoy. Alerts will trigger on candle close as freq= parameter specifies. Detailed specification of the new alert() function can be found in TradingView's PineScript Reference (www.tradingview.com), but there's nothing more than message= and freq= parameters. Nothing else is needed, it is very simple. Yet powerful :)
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Alert syntax in this script is prepared to work with TradingConnector. Strategy here is not too complex, but also not the most basic one: it includes full exits, partial exits, stop-losses and it also utilizes dynamic variables calculated by the code (such as stop-loss price). This is only an example use case, because you could handle variety of other functionalities as well: conditional entries, pending entries, pyramiding, hedging, moving stop-loss to break-even, delivering alerts to multiple brokers and more.
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This script is a spin-off from my previous work, posted over a year ago here: Some comments on strategy parameters have been discussed there, but let me copy-paste most important points:
* Commission is taken into consideration.
* Slippage is intentionally left at 0. Due to shorter than 1 second delivery time of TradingConnector, slippage is practically non-existing.
* This strategy is NON-REPAINTING and uses NO TRAILING-STOP or any other feature known to be causing problems.
* The strategy was backtested on EURUSD 6h timeframe, will perform differently on other markets and timeframes.
Despite the fact this strategy seems to be still profitable, it is not guaranteed it will continue to perform well in the future. Remember the no.1 rule of backtesting - no matter how profitable and good looking a script is, it only tells about the past. There is zero guarantee the same strategy will get similar results in the future.
Full specs of TradingView alerts and how to set them up can be found here: www.tradingview.com
Follow the Trend - Trade PullbacksKindly follow the rules stated below for entry, exit and stop loss. Not every Buy / Sell signal will be profitable.
Timeframe of the chart acts as current timeframe. You need to choose 2 more as middle and higher timeframes.
This indicator is based on candlesticks, ATR and CCI indicators and the logic provides buy / sell signals at the pullbacks of the trend depicted by higher timeframe, that must be respected throughout.
Enter the long / short trade respectively when the indicator gives buy / sell signal after price has gone below the green / above the red line for higher timeframe.
Stop loss shall be low / high of recent swing. Exit when the price closes below / above the middle timeframe, to be used as trailing target.
Use it for any instrument for any timeframe of your choice.
For example, check the shared chart. It is a 1 min intraday, but the indicator can be used for short or long term positional trades as well.
Enter long at 14102, with stop loss 14077. Trailing target is achieved at 14156 giving a Risk:Reward ratio of 1:2.
Another Buy signal is observed around same level and uptrend continues till day end, again for a Risk:Reward ratio of approx. 1:2.
Rules to follow for Long trades -
Enter long position at Buy signal given after price has moved below green line of higher timeframe.
Exit the position when price closes below orange / blue line of middle timeframe.
Stop loss must be at low of recent swing, appearing just before the Buy signal.
Rules to follow for Short trades -
Enter short position at Sell signal given after price has moved above red line of higher timeframe.
Exit the position when price closes above orange / blue line of middle timeframe.
Stop loss must be at high of recent swing, appearing just before the Sell signal.
888 BOT #backtest█ 888 BOT #backtest (open source)
This is an Expert Advisor 'EA' or Automated trading script for ‘longs’ and ‘shorts’, which uses only a Take Profit or, in the worst case, a Stop Loss to close the trade.
It's a much improved version of the previous ‘Repanocha’. It doesn`t use 'Trailing Stop' or 'security()' functions (although using a security function doesn`t mean that the script repaints) and all signals are confirmed, therefore the script doesn`t repaint in alert mode and is accurate in backtest mode.
Apart from the previous indicators, some more and other functions have been added for Stop-Loss, re-entry and leverage.
It uses 8 indicators, (many of you already know what they are, but in case there is someone new), these are the following:
1. Jurik Moving Average
It's a moving average created by Mark Jurik for professionals which eliminates the 'lag' or delay of the signal. It's better than other moving averages like EMA , DEMA , AMA or T3.
There are two ways to decrease noise using JMA . Increasing the 'LENGTH' parameter will cause JMA to move more slowly and therefore reduce noise at the expense of adding 'lag'
The 'JMA LENGTH', 'PHASE' and 'POWER' parameters offer a way to select the optimal balance between 'lag' and over boost.
Green: Bullish , Red: Bearish .
2. Range filter
Created by Donovan Wall, its function is to filter or eliminate noise and to better determine the price trend in the short term.
First, a uniform average price range 'SAMPLING PERIOD' is calculated for the filter base and multiplied by a specific quantity 'RANGE MULTIPLIER'.
The filter is then calculated by adjusting price movements that do not exceed the specified range.
Finally, the target ranges are plotted to show the prices that will trigger the filter movement.
Green: Bullish , Red: Bearish .
3. Average Directional Index ( ADX Classic) and ( ADX Masanakamura)
It's an indicator designed by Welles Wilder to measure the strength and direction of the market trend. The price movement is strong when the ADX has a positive slope and is above a certain minimum level 'ADX THRESHOLD' and for a given period 'ADX LENGTH'.
The green color of the bars indicates that the trend is bullish and that the ADX is above the level established by the threshold.
The red color of the bars indicates that the trend is down and that the ADX is above the threshold level.
The orange color of the bars indicates that the price is not strong and will surely lateralize.
You can choose between the classic option and the one created by a certain 'Masanakamura'. The main difference between the two is that in the first it uses RMA () and in the second SMA () in its calculation.
4. Parabolic SAR
This indicator, also created by Welles Wilder, places points that help define a trend. The Parabolic SAR can follow the price above or below, the peculiarity that it offers is that when the price touches the indicator, it jumps to the other side of the price (if the Parabolic SAR was below the price it jumps up and vice versa) to a distance predetermined by the indicator. At this time the indicator continues to follow the price, reducing the distance with each candle until it is finally touched again by the price and the process starts again. This procedure explains the name of the indicator: the Parabolic SAR follows the price generating a characteristic parabolic shape, when the price touches it, stops and turns ( SAR is the acronym for 'stop and reverse'), giving rise to a new cycle. When the points are below the price, the trend is up, while the points above the price indicate a downward trend.
5. RSI with Volume
This indicator was created by LazyBear from the popular RSI .
The RSI is an oscillator-type indicator used in technical analysis and also created by Welles Wilder that shows the strength of the price by comparing individual movements up or down in successive closing prices.
LazyBear added a volume parameter that makes it more accurate to the market movement.
A good way to use RSI is by considering the 50 'RSI CENTER LINE' centerline. When the oscillator is above, the trend is bullish and when it is below, the trend is bearish .
6. Moving Average Convergence Divergence ( MACD ) and ( MAC-Z )
It was created by Gerald Appel. Subsequently, the histogram was added to anticipate the crossing of MA. Broadly speaking, we can say that the MACD is an oscillator consisting of two moving averages that rotate around the zero line. The MACD line is the difference between a short moving average 'MACD FAST MA LENGTH' and a long moving average 'MACD SLOW MA LENGTH'. It's an indicator that allows us to have a reference on the trend of the asset on which it is operating, thus generating market entry and exit signals.
We can talk about a bull market when the MACD histogram is above the zero line, along with the signal line, while we are talking about a bear market when the MACD histogram is below the zero line.
There is the option of using the MAC-Z indicator created by LazyBear, which according to its author is more effective, by using the parameter VWAP ( volume weighted average price ) 'Z-VWAP LENGTH' together with a standard deviation 'STDEV LENGTH' in its calculation.
7. Volume Condition
Volume indicates the number of participants in this war between bulls and bears, the more volume the more likely the price will move in favor of the trend. A low trading volume indicates a lower number of participants and interest in the instrument in question. Low volumes may reveal weakness behind a price movement.
With this condition, those signals whose volume is less than the volume SMA for a period 'SMA VOLUME LENGTH' multiplied by a factor 'VOLUME FACTOR' are filtered. In addition, it determines the leverage used, the more volume , the more participants, the more probability that the price will move in our favor, that is, we can use more leverage. The leverage in this script is determined by how many times the volume is above the SMA line.
The maximum leverage is 8.
8. Bollinger Bands
This indicator was created by John Bollinger and consists of three bands that are drawn superimposed on the price evolution graph.
The central band is a moving average, normally a simple moving average calculated with 20 periods is used. ('BB LENGTH' Number of periods of the moving average)
The upper band is calculated by adding the value of the simple moving average X times the standard deviation of the moving average. ('BB MULTIPLIER' Number of times the standard deviation of the moving average)
The lower band is calculated by subtracting the simple moving average X times the standard deviation of the moving average.
the band between the upper and lower bands contains, statistically, almost 90% of the possible price variations, which means that any movement of the price outside the bands has special relevance.
In practical terms, Bollinger bands behave as if they were an elastic band so that, if the price touches them, it has a high probability of bouncing.
Sometimes, after the entry order is filled, the price is returned to the opposite side. If price touch the Bollinger band in the same previous conditions, another order is filled in the same direction of the position to improve the average entry price, (% MINIMUM BETTER PRICE ': Minimum price for the re-entry to be executed and that is better than the price of the previous position in a given %) in this way we give the trade a chance that the Take Profit is executed before. The downside is that the position is doubled in size. 'ACTIVATE DIVIDE TP': Divide the size of the TP in half. More probability of the trade closing but less profit.
█ STOP LOSS and RISK MANAGEMENT.
A good risk management is what can make your equity go up or be liquidated.
The % risk is the percentage of our capital that we are willing to lose by operation. This is recommended to be between 1-5%.
% Risk: (% Stop Loss x % Equity per trade x Leverage) / 100
First the strategy is calculated with Stop Loss, then the risk per operation is determined and from there, the amount per operation is calculated and not vice versa.
In this script you can use a normal Stop Loss or one according to the ATR. Also activate the option to trigger it earlier if the risk percentage is reached. '% RISK ALLOWED'
'STOP LOSS CONFIRMED': The Stop Loss is only activated if the closing of the previous bar is in the loss limit condition. It's useful to prevent the SL from triggering when they do a ‘pump’ to sweep Stops and then return the price to the previous state.
█ BACKTEST
The objective of the Backtest is to evaluate the effectiveness of our strategy. A good Backtest is determined by some parameters such as:
- RECOVERY FACTOR: It consists of dividing the 'net profit' by the 'drawdown’. An excellent trading system has a recovery factor of 10 or more; that is, it generates 10 times more net profit than drawdown.
- PROFIT FACTOR: The ‘Profit Factor’ is another popular measure of system performance. It's as simple as dividing what win trades earn by what loser trades lose. If the strategy is profitable then by definition the 'Profit Factor' is going to be greater than 1. Strategies that are not profitable produce profit factors less than one. A good system has a profit factor of 2 or more. The good thing about the ‘Profit Factor’ is that it tells us what we are going to earn for each dollar we lose. A profit factor of 2.5 tells us that for every dollar we lose operating we will earn 2.5.
- SHARPE: (Return system - Return without risk) / Deviation of returns.
When the variations of gains and losses are very high, the deviation is very high and that leads to a very poor ‘Sharpe’ ratio. If the operations are very close to the average (little deviation) the result is a fairly high 'Sharpe' ratio. If a strategy has a 'Sharpe' ratio greater than 1 it is a good strategy. If it has a 'Sharpe' ratio greater than 2, it is excellent. If it has a ‘Sharpe’ ratio less than 1 then we don't know if it is good or bad, we have to look at other parameters.
- MATHEMATICAL EXPECTATION: (% winning trades X average profit) + (% losing trades X average loss).
To earn money with a Trading system, it is not necessary to win all the operations, what is really important is the final result of the operation. A Trading system has to have positive mathematical expectation as is the case with this script: ME = (0.87 x 30.74$) - (0.13 x 56.16$) = (26.74 - 7.30) = 19.44$ > 0
The game of roulette, for example, has negative mathematical expectation for the player, it can have positive winning streaks, but in the long term, if you continue playing you will end up losing, and casinos know this very well.
PARAMETERS
'BACKTEST DAYS': Number of days back of historical data for the calculation of the Backtest.
'ENTRY TYPE': For '% EQUITY' if you have $ 10,000 of capital and select 7.5%, for example, your entry would be $ 750 without leverage. If you select CONTRACTS for the 'BTCUSDT' pair, for example, it would be the amount in 'Bitcoins' and if you select 'CASH' it would be the amount in $ dollars.
'QUANTITY (LEVERAGE 1X)': The amount for an entry with X1 leverage according to the previous section.
'MAXIMUM LEVERAGE': It's the maximum allowed multiplier of the quantity entered in the previous section according to the volume condition.
The settings are for Bitcoin at Binance Futures (BTC: USDTPERP) in 15 minutes.
For other pairs and other timeframes, the settings have to be adjusted again. And within a month, the settings will be different because we all know the market and the trend are changing.
Bollinger Bands Strategy with Intraday Intensity IndexFor Educational Purposes. Results can differ on different markets and can fail at any time. Profit is not guaranteed.
This only works in a few markets and in certain situations. Changing the settings can give better or worse results for other markets.
This is a mean reversion strategy based on Bollinger Bands and the Intraday Intensity Index (a volume indicator). John Bollinger mentions that the Intraday Intensity Index can be used with Bollinger Bands and is one of the top indicators he recommends in his book. It seems he prefers it over the other volume indicators that he compares to for some reason. III looks a lot like Chaikin Money Flow but without the denominator in that calculation. On the default settings of the BBs, the III helps give off better entry signals. John Bollinger however is vague on how to use the BBs and it's hard to say if one should enter when it is below/above the bands or when the price crosses them. I find that with many indicators and strategies it's best to wait for a confirmation of some sort, in this case by waiting for some crossover of a band. Like most mean reversion strategies, the exit is very loose if using BBs alone. Usually the plan to exit is when the price finally reverts back to the mean or in this case the middle band. This can potentially lead to huge drawdowns and/or losses. Mean reversion strategies can have high win/loss ratios but can still end up unprofitable because of the huge losses that can occur. These drawdowns/losses that mean reversion strategies suffer from can potentially eat away at a large chunk of all that was previously made or perhaps up to all of it in the worst cases, can occur weeks or perhaps up to months after being profitable trading such a strategy, and will take a while and several trades to make it all back or keep a profitable track record. It is important to have a stop loss, trailing stop, or some sort of stop plan with these types of strategies. For this one, in addition to exiting the trade when price reverts to the middle band, I included a time-based stop plan that exits with a gain or with a loss to avoid potentially large losses, and to exit after only a few periods after taking the trade if in profit instead of waiting for the price to revert back to the mean.
Configurable BB+RSI+Aroon strategy backtest for binary optionsI wanted to share this strategy that I use myself for binary options trading. After trading binary options for several years I have learned that every single day is unique... assets behave differently every single day. So, when I start the day I want to know which is the optimum combination of parameters in my indicators that will give me the signals I want during the day and I get that by doing a quick backtest of the parameters combination in a specific asset that same day. When trading Binary Options I usually do 3 or 4 trades max per day and, yes, there are moments in which even with the right backtest data the signals fail (I strongly believe that there is no strategy that guarantees 100% success in any type of trade, and this one here is not an exception - but has worked well with some assets). So, here is my contribution to improve your productivity by automating a bit that backtesting part.
How this script works?
It is a simple price crossunder / crossover Bollinger Bands (BB) with a confirmation from RSI overbought / oversold signals and a fast Aroon. You will see the BB plotted with its confirmations:
(1) a blue circle that plots in the chart when the price is coming back inside the channel (within the Bollinger Bands)
(2) an orange square that plots in the chart when the RSI is coming back from the overbought or oversold areas
(3) a triangle that could be red or green depending on the Aroon confirmation: Red if Aroon Down is crossing down Aroon Up or green if vice versa.
The strategy will call for long (Call) if:
(1) the price is crossing over the lower band of the Bollinger Bands, coming back inside the channel
(2) Aroon Up is crossing or has crossed above Aroon Down
(3) RSI is crossing over the oversold limit
Consequently, the strategy will call for a short (Put) if:
(1) the price is crossing down the upper band of the Bollinger Bands, coming back inside the channel
(2) Aroon Down is crossing or has crossed below Aroon Up
(3) RSI is crossing under the overbought limit
You can configure:
1. Aroon length (keep it as fast as possible: 3, 4 or 5 are recommended values)
2. The point where Aroon Up and Aroon Down cross to make the signal valid (50 is by default. It could also be 25 or 75)
3. The RSI length
4. RSI Overbought and Oversold limits (they do not need to be symmetric: you can use 29 and 93, for example)
5. Bollinger Bands length and standard deviation
6. Number of bars to keep your option open. Depending on the timeframe used, this will determine the time you will keep your binary option open. If you are in a 1 min chart and keep this parameter in 3, then you will need to configure your binary option to expire in 3 minutes.
How to evaluate your backtest?
In Binary Options you only need the success rate, so what I do is that when I am manually updating the parameters I keep my strategy tester window open checking the winning trades vs losing trades ratio ("Percent Profitable"). I personally will only keep an asset monitored looking for signals that day if the Percent Profitable on the backtest of the same day is above 80%.
Regarding the code: it is open, public and free. No need to ask for permission if you want to copy+paste and use it in whole or parts.
Happy pip hunting!
-marco
Ehlers 2 Pole Super Smoother Filter V2 [CC]The 2 Pole Super Smoother Filter was created by John Ehlers (Cycle Analytics For Traders pg 32) and this follows the price very closely and very useful because it is consistent with uptrends and falls sharply during a sudden downtrend so it should be able to help you stay more profitable. Buy when the indicator line turns green and sell when it turns red.
Let me know if there are other indicators you would like to see me publish or if you want something custom done!
STRATEGY TESTER ENGINE - ON CHART DISPLAY - PLUG & PLAYSo i had this idea while ago when @alexgrover published a script and dropped a nugget in between which replicates the result of strategy tester on chart as an indicator.
So it seemed fair to use one of his strategy to display the results.
This strategy tester can now be used in replay mode like an indicator and you can see what happen at a particular section of the chart which was is not possible in default strategy tester results of TV.
Please read how each result is calculated so you will know what you are using.
This engine shows most common results of strategy tester in a single screen, which are as follows:
1. Starting Capital
2. Current Profit Percentage
3. Max Profit Percentage
4. Gross Profit
5. Gross Loss
6. Total Closed Trades
7. Total Trades Won
8. Total Trades Lost
9. Percentage Profitable
10. Profit Factor
11. Current Drawdown
12. Max Drawdown
13. Liquidation
So elaborating on what is what:
1. Starting Capital - This stays 0, which signifies your starting balance as 0%. It is set to 0 so we can compare all other results without any change in variables. If set to 100, then all the results will be increased by 100. Some users might find it useful to set it to 100, then they can change code on line 41 from to and it should show starting balance as 100%.
2. Current Profit Percentage - This shows your current profit adjusted to current price of the candle, not like TV which shows after candle is close. There is a comment on the line 38 which can be removed and your can see unrealized profit as well in this section. Please note that this will affect Draw-down calculations later in this section.
3. Max Profit Percentage - This will show you your max profit achieved during your strategy run, which was not possible yet to see via strategy tester. So, now you can see how much profit was achieved by your strategy during the run and you can compare it with chart to see what happens during bull-run or bear-run, so you can further optimize your strategy to best suit your desired results.
4. Gross Profit - This is total percentage of profit your strategy achieved during entire run as if you never had any losses.
5. Gross Loss - This is total percentage of loss your strategy achieved during entire run as if you never had any profits.
6. Total Closed Trades - This is total number of trades that your strategy has executed so far.
7. Total Trades Won - This is the total number of trades that your strategy has executed that resulted in positive increase in equity.
8. Totals Trades Lost - This is the total number of trades that your strategy has executed that resulted in decrease in equity.
9. Percentage Profitable - This is the ratio between your current total winning trades divided by total closed trades, and finally multiplied by 100 to get percentage results.
10. Profit Factor - This is the ratio between Gross Profit and Gross Loss, so if profit factor is 2, then it indicates that you are set to gain 2 times per your risk per trade on average when total trades are executed.
11. Current Drawdown - This is important section and i want you to read this carefully. Here draw-down is calculated very differently than what TV shows. TV has access to candle data and calculates draw-down accordingly as per number of trades closed, but here DD is calculated as difference between max profit achieved and current profit. This way you can see how much percentage you are down from max peak of equity at current point in time. You can do back-test of the data and see when peak was achieved and how much your strategy did a draw-down candle by candle.
12. Max Drawdown - This is also calculated differently same as above, current draw-down. Here you can see how much max DD your strategy did from a peak profit of equity. This is not set as max profit percentage is set because you will see single number on display, while idea is to keep it custom. I will explain.
So lets say, your max DD on TV is 30%. Here this is of no use to see Max DD , as some people might want to see what was there max DD 1000 candles back or 10 candle back. So this will show you your max DD from the data you select. TV shows 25000 candle data in a chart if you go back, you can set the counter to 24999 and it will show you max DD as shown on TV, but if you want custom section to show max DD , it is now possible which was not possible before.
Also, now let's say you put DD as 24999 and open a chart of an asset that was listed 1 week ago, now on 1H chart max DD will never show up until you reach 24999 candle in data history, but with this you can now enter a manual number and see the data.
13. Liquidation - This is an interesting feature, so now when your equity balance is less than 0 and your draw-down goes to -100, it will show you where and at what point in time you got liquidated by adding a red background color in the entire section. This is the most fun part of this script, while you can only see max DD on TV.
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How to Use -
1 word, plug and play. Yes. Actual codes start from line 33.
select overlay=false or remove it from the title in your strategy on first line,
Just copy the codes from line 33 to 103,
then go to end section of your strategy and paste the entire code from line 33 to line 103,
see if you have any duplicate variable, edit it,
Add to chart.
What you see above is very contracted view. Here is how it looks when zoomed in.
imgur.com
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Feel free to edit and share and use. If you use it in your scripts, drop me tag. Cheers.
Golden Cross Optimised For Reversal (by Coinrule)A moving average crossing is a common and widely adopted trading strategy. A short-term MA crossing above a long-term one provides the buy-signal. The opposite generates a sell-signal for the strategy.
Although very popular, this strategy has some limitations that lead to frequent "false signals" and only a few very profitable trades. If the strategy provides two many trades, that generates
the risk for more potential losses
more transaction fees paid
capital allocated to the strategy, thus the impossibility of catching other potential opportunities.
Applying an additional filter to the strategy, consisting of the crossing happening below a longer-term moving average, allows increasing the chances of catching the first crossing signaling a reversal.
The indicator is set to work with three moving averages.
Buy signal: The MA(9) to cross above the MA(50), which must be below the MA(100)
Sell Signal: The MA(9) to cross below the MA(50)
This indicator works significantly better on lower time frames, where it can reduce the noise of getting too many non-profitable signals from a conventional crossing strategy.
The indicator has been backtested mostly on cryptocurrencies.
Ampleforth Rebase MACDThis script reveals Ampleforth rebase levels which are going to always work. In addition to that is MACD crossovers serving as potential buy/sell entries. You can set alerts for MACD crossovers and price entering balanced value area (0.96 - 1.06).
MACD signals can be used to automatically open a position and entering a balanced value area can be used as take-profit. Since the price will always move to this level, using this strategy without leverage should be profitable.
Ampleforth seems like a nice asset to trade since it is unlikely to correlate with anything else. At least not when it gets to the extreme levels.
MACD+ Strategy [SystemAlpha]This is a strategy based on MACD Oscillator . Instead of using just the normal crossovers, we use trend filters, trailing stop loss and take profit targets. This strategy was developed for crypto, forex and stocks on daily timeframe but feel free to experiment on 15 minutes or higher using heikin ashi or normal candles
In this strategy you have a choice of:
Trend Filters:
- Average Directional Index ( ADX ) – buy when price is trend is up and sell when trend is down.
- Moving Average (MA) – buy when price close above the defined moving average and sell when price close below moving average
- Parabolic SAR – buy when SAR is above price is above price and sell when SAR is below price.
- All - Use ADX , MA and SAR as filters
For MA Filter , you can use the “TF MA Type” and "TF MA Period" parameter to select Simple or Exponential Moving Average and length.
Stop Loss:
- Average True Range (ATR) – ATR % stop as trailing stop loss.
- Parabolic SAR ( SAR ) – Parabolic SAR adapted as trailing stop loss.
For ATR , you can use the “ATR Trailing Stop Multiplier” parameter to set an initial offset for trailing stop loss.
Take Profit Target:
- Average True Range (ATR) – ATR % stop as trailing stop loss.
- Standard % – Percent as target profit
For ATR , you can use the “ATR Take Profit Multiplier” parameter to set an initial offset for trailing stop loss.
Additional feature include:
- Regular and Hidden Divergence display and alerts
STRATEGY ONLY:
- Set back test date range
- Set trade direction - Long, Short or Both
- Use timed exit - Select method and bars
- Method 1: Exit after specified number of bars.
- Method 2: Exit after specified number of bars, ONLY if position is currently profitable.
- Method 3: Exit after specified number of bars, ONLY if position is currently losing.
TradingView Links:
Alerts:
MACD:
How to use:
1. Apply the script by browsing through Indicators --> Invite-Only scripts and select the indicator
2. Once loaded, click the gear (settings) button to select/adjust the parameters based on your preference.
3. Wait for the next BUY or SELL signal to enter the trade!
Disclaimer:
The indicator and signals generated do not constitute investment advice; are provided solely for informational purposes and therefore is not an offer to buy or sell a security; are not warranted to be correct, complete or accurate; and are subject to change without notice.
Profit/Loss LabelOnce I entered a trade, I always wanted to know quickly if I am in a profitable position or losing NOW?
Here's the label to do the work for me, and if you like it, please give it a thumb up.
*** There's a setting to change your trade type to LONG or SHORT with a commission rate.
*** Color setups:
- If it's green: profitable position, including the pay for comission
- If it's orange: moving in favorite direction, but still a losing position due to the comission
- If it's red: losing position moving in the opposite direction
Buy The Dips - MA200 OptimisedThe strategy combines a contrarian approach (buying the dips) with a trend-following logic (only when the price is above the MA200)
The strategy seeks to find the best times when buying the dips on the asset should result to be more profitable.
The price above a long-term moving average indicates momentum that increases the possibility of profiting from buying the asset on short-term weakness.
Percent Trailing Stop %===========
Percent Trailing Stop %
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Another Stop Loss Indicator today - our last Fixed SL/TP script went down quite well, this one is for adding a Percent Trailing Stop from Entry Price to your own strategy.
You can ignore the actual entry/exit orders - they're based on a simple MA cross and are therefore NOT relevant, NOT profitable and NOT recommended!
You should be using this code as a way of adding a % Trailing Stop to your own scripts - hope it helps!
You should also notice that a generally considered losing strategy (a simple MA cross) could actually become profitable with careful money management - try combining this Trailing Stop script with our Fixed Stop/Take Profit script for really accurate management of your capital.
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Good Luck and Happy Trading!
Underworld Hunter Backtesting AlgorhitmThis strategy is built to prove the profitability of my Underworld Hunter indicator . It tests two different strategies. I won't be going into the calculation again since it is part of the original script. I just made a few adjustments.
First one is clearly visual. It plots slimmer twin-coloured lines now and has a different colour for every extreme level. Second is less obvious - I switched Relative Strength Index for Commodity Channel Index.
Extreme levels are as follows: green 100 -► 120, yellow 120 -► 140, orange 140 -► 160, red 160 -► 180 and purple above 180, I will have a special separate algorithm for testing optimal CCI levels someday, in this script, these values are only meant to help you with manual operations and do not influence results of the strategy in any way.
#Trending strategy
The trending strategy opens a position whenever the price leaves the bands and holds it until two consecutive bars are closed within the bands. The picture shows one winning position that hasn't yet been resulted. It also shows a few fakeouts. For this strategy, you want to keep the length below 110, the deviation should be below 2 and you probably want to play lower timeframes.
#Within the bands
The second strategy is pretty much the opposite. It opens a position when the price reaches outer bands and holds it until two consecutive bars are closed within the bands and current bar closes below previous bars low in case of long. It is working on hourly timeframes and you need higher length and deviation to succeed. The picture shows a few positions on EURUSD. Each of them is profitable but would be much higher if you closed it manually when it was time. You need to enable this strategy, which automatically disables the other one.
When using my script, you need to bear in mind that the first strategy doesn't detect optimal levels to close the price. A trend is often followed by a less volatile and boring correction which causes bands to shrink and lower your profits if you don't close manually as it will take longer till bands are reached.
On the other hand, second script literally has no stop-loss. As long as the price is outside the range, it will never close which will cause major drawdowns, unless you control the trade manually. CCI is here to help you with both.
I also recommend combining this with Market Profile (on TW, there is only Volume Profile, which can be used in a similar way) and trading day theory (trending with multiple distributions, trending day, normal day, a variation on a normal day, non-trending day or neutral day). Always keep in mind that it is up to traders to be profitable, indicators can support a good trader, but they will not fix a bad one.
Patient Trendfollower (7)(alpha)Patient Trendfollower consists of 21 and 55 EMA, Commodity Channel Index and Supertrend indicator. It confirms a trend and gives you a signal on a pullback. Original creation worked on 1h EURUSD chart.
►Long setup:
• 21 EMA is above 55 EMA, which is above the Supertrend indicator.
• Commodity Channel Index is an oscillator, which prints into the chart if extreme levels are reached. Green is for a level above 100 or below -100, red is above 140 or below -140 and black is above 180 or below -180.
• If 21 EMA > 55EMA > Supertrend and an oversold signal appear, you can buy into the trend.
• When backtesting on 1h EURUSD, profit target 400 pips worked best with a stop-loss below Supertrend's bottom and the size of your spread.
• A picture shows two valid entries.
: This part still malfunctions and shows red dots over some green ones. It is important to disable red ones in the settings to see green ones.
Some more long signals:
Some short signals:
►Backtesting data with default settings and trading only green CCI signals with mentioned risk management strategy:
• 212 closed trades
• 58.96% profitable with average win trade 348 USD and average loss trade 263 USD when only green signals are followed.
• Profit factor 1.903, Sharpee 0.792
• 20 bars is average for all trades, short trades were 18 bars long on average.
With given data, you can see the strategy is profitable by itself. However, original risk management settings do work only on 1h charts of EURUSD and would need to be adjusted for other instruments based on average volatility.
Even though the profitability is low, you can increase your odds by a great margin, if you properly use price action (impulsive and corrective moves, patterns, bar analysis), if you trade when major exchanges are open, you may also use wave analysis such as Elliot Waves or Market Profiles to predict whether the next day might be a trending day. My backtesting program didn't consider these ideas.
Unfortunately, I won't be making backtesting strategy public with it anytime soon, because it still has some parts that do not work. I am ok with that since I understand the code and know what does malfunction and how. Then, there are parts which I am not sure how to fix yet. This is why the indicator is still considered alpha.
In the future when a strategy is published, you will also be able to set your own overbought/oversold values without entering the code itself and probably some other features. But I am not in a hurry for that. You can give me feedback on UX and try to figure out the best setups for other symbols, it might help to improve the automatic testing script when I know what I should achieve. My main point is to make this public for friends who can already be using it on EURUSD at least.
Close doesn't always have to be 400 pips, you might want to close on a logical level such as strong resistance or a trendline too.
Thanks to:
• @everget for providing Supertrend solution.
• Satik FX who hand-tested the system by hand and reported results in this article . He is my main inspiration for creating the complete indicator as one because I want to be able to show and hide it with a single click. My future scripts will also work as a whole strategy each by itself.
• The number in the script's name comes from Satik's numbering. A mentioned article was his seventh shared strategy.
NR4 / NR7 + Inside BarIndicator Script for identifying Narrow Range 4 / 7 + Inside Bar
It also helps to check whether NR4 / NR7 breakout trading has been profitable or not in the past in a particular instrument.
It has helped me to select profitable scripts and avoid losing ones. Can be used for anytime frame.
SIGNAL
NR4 == Narrowest range of 4 periods + signal day is an inside bar
NR4 & NR7 == Narrowest range of 7 periods + signal day is an inside bar
SIGNAL "PROFIT" -
Prior day was NR4 / NR7 and next day price broke out of prior day range in 1 direction and closed in the direction of breakout away from breakout price, resulting in a profit trade.
SIGNAL "LOSS" -
Prior day was NR4 / NR7 and next day price broke out of prior day range and returned back to close inside the narrow zone OR went in opposite direction after the initial breakout, resulting in a loss trade.
TradingView Alerts to MT4 MT5 + dynamic variables NON-REPAINTINGAccidentally, I’m sharing open-source profitable Forex strategy. Accidentally, because this was aimed to be purely educational material. A few days ago TradingView released a very powerful feature of dynamic values from PineScript now being allowed to be passed in Alerts. And thanks to TradingConnector, they could be instantly executed in MT4 or MT5 platform of any broker in the world. So yeah - TradingConnector works with indices and commodities, too.
The logic of this EURUSD 6h strategy is very simple - it is based on Stochastic crossovers with stop-loss set under most recent pivot point. Setting stop-loss with surgical precision is possible exactly thanks to allowance of dynamic values in alerts. TradingConnector has been also upgraded to take advantage of these dynamic values and it now enables executing trades with pre-calculated stop-loss, take-profit, as well as stop and limit orders.
Another fresh feature of TradingConnector, is closing positions only partly - provided that the broker allows it, of course. A position needs to have trade_id specified at entry, referred to in further alerts with partial closing. Detailed spec of alerts syntax and functionalities can be found at TradingConnector website. How to include dynamic variables in alert messages can be seen at the very end of the script in alertcondition() calls.
The strategy also takes commission into consideration.
Slippage is intentionally left at 0. Due to shorter than 1 second delivery time of TradingConnector, slippage is practically non-existing. This can be achieved especially if you’re using VPS server, hosted in the same datacenter as your brokers’ servers. I am using such setup, it is doable. Small slippage and spread is already included in commission value.
This strategy is NON-REPAINTING and uses NO TRAILING-STOP or any other feature known to be faulty in TradingView backtester. Does it make this strategy bulletproof and 100% success-guaranteed? Hell no! Remember the no.1 rule of backtesting - no matter how profitable and good looking a script is, it only tells about the past. There is zero guarantee the same strategy will get similar results in the future.
To turn this script into study so that alerts can be produced, do 2 things:
1. comment “strategy” line at the beginning and uncomment “study” line
2. comment lines 54-59 and uncomment lines 62-65.
Then add script to the chart and configure alerts.
This script was build for educational purposes only.
Certainly this is not financial advice. Anybody using this script or any of its parts in any way, must be aware of high risks connected with trading.
Thanks @LucF and @a.tesla2018 for helping me with code fixes :)
Kirk65 UTBot Strategy FixedCredits to @HPotter for the orginal code.
Credits to @Yo_adriiiiaan for recently publishing the UT Bot study based on the original code.
Credits to @TradersAITradingPlans for making UT Bot strategy.
Strategy fixed with time period by Kirk65.
UT Bot works great with 2 hour time frame with Heikin Ashi, but riskier. Use "Once per bar" In alerts with 1.5% stoploss. If the price goes against Alerts, stoploss will save your assets. Wait until next Alert.
4 hour time frame is less risky and less profitable.
Happy trading..
Kirk65
ATR Strategy Back test Original script by HPotter
ATR strategy is profitable.
Buy when it says buy and sell when it says sell.
