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Centered Oscillators

Crypto rsi cci mf stoch rsi oscillators all in one strategyThis is a strategy based on the popular oscillator like RSI, CCI, MF and Stochastic RSI oscillators. In this situation I use a very high length , 100 candles, and the middle point between overbought and oversold levels at 50. The entry for long is when all oscilators are above 50, and the exit is when they are below 50 + plus some minor modifications If you have any questions, please message me a private message !
Pine Script® strategy
by SoftKill21
5
Combo Backtest 123 Reversal & MovROC (KST indicator) This is combo strategies for get a cumulative signal. First strategy This System was created from the Book "How I Tripled My Money In The Futures Market" by Ulf Jensen, Page 183. This is reverse type of strategies. The strategy buys at market, if close price is higher than the previous close during 2 days and the meaning of 9-days Stochastic Slow Oscillator is lower than 50. The strategy sells at market, if close price is lower than the previous close price during 2 days and the meaning of 9-days Stochastic Fast Oscillator is higher than 50. Second strategy This indicator really is the KST indicator presented by Martin Pring. the KST indicator is a weighted summed rate of change oscillator that is designed to identify meaningful turns. Various smoothed rate of change indicators can be combined to form different measurements of cycles. WARNING: - For purpose educate only - This script to change bars colors.
Pine Script® strategy
by HPotter
3
MACD Crossover trend strategy, Long and ShortHey everybody, This is my first strategy and script I wrote mostly myself. There's tons of content out there to learn how to code in Pinescript and it's exactly what I wanted and needed in this time of my life. In any case, I made a rather simple MACD crossover strategy that only takes trades in the direction of both EMA and SMA (there are inputs to change the length of the moving averages and lots of other stuff too). If the MACD line crosses upwards on the signal line, while above the zero point of the histogram and the price is above EMA + SMA , it's a long signal. If the MACD line cosses downards on the signal line, while below zero on the histogram and the price is below EMA + SMA , it's a short signal. There are a lot of default variables that make no sense, for basically any symbol you're going to be looking at. You're going to have to adjust the EMA , SMA , backtest date, take profit, stop loss and all that good stuff yourself to find decently profitable parameters. I made this myself because I couldn't really find a strategy out there that allowed for so much customizing and it's an easy way to get started in Pinescript. If you have any suggestions, tips or you see a flatout mistake in my code, please let me know. I'm still learning, everyday and I'm enjoying every second of it.
Pine Script® strategy
by conflixx95493
1
Momentum Strategy (BTC/USDT; 1h) - MACD (with source code)Good morning traders. It's been a while from my last publication of a strategy and today I want to share with you this small piece of script that showed quite interesting result across bitcoin and other altcoins. The macd indicator is an indicator built on the difference between a fast moving average and a slow moving average: this difference is generally plottted with a blue line while the orange line is simply a moving average computed on this difference. Usually this indicator is used in technical analysis for getting signals of buy and sell respectively when the macd crosses above or under its moving average: it means that the distance of the fast moving average (the most responsive one) from the slower one is getting lower than what it-used-to-be in the period considered: this could anticipate a cross of the two moving averages and you want to anticipate this potential trend reversal by opening a long position Of course the workflow is specularly the same for opening short positions (or closing long positions) What this strategy does is simply considering the moving average computed on macd and applying a linear regression on it: in this way, even though the signal can be sligthly delayed, you reduce noise plotting a smooth curve. Then, it simply checks the maximums and the minimums of this curve detecting whenever the changes of the values start to be negative or positive, so it opens a short position (closes long) on the maximum on this curve and it opens a long position (closes short) on the minimum. Of course, I set an option for using this strategy in a conventional way working on the crosses between macd and its moving average. Alternatively you can use this workflow if you prefer. In conclusion, you can use a tons of moving averages: I made a function in pine in order to allw you to use any moving average you want for the two moving averages on which the macd is based or for the moving average computed on the macd PLEASE, BE AWARE THAT THIS TRADING STRATEGY DOES NOT GUARANTEE ANY KIND OF SUCCESS IN ADVANCE. YOU ARE THE ONE AND ONLY RESPONSIBLE OF YOUR OWN DECISIONS, I DON'T TAKE ANY RESPONSIBILITY ASSOCIATED WITH THEM. IF YOU RUN THIS STRATEGY YOU ACCEPT THE POSSIBILITY OF LOOSING MONEY, ALL OF MY PUBBLICATIONS ARE SUPPOSED TO BE JUST FOR EDUCATIONAL PURPOSES. IT IS AT YOUR OWN RISK WHETHER TO USE IT OR NOT But if you make money out of this, please consider to buy me a beer 😜 Happy Trading!
Pine Script® strategy
by Drun30
10
Delta-RSI Strategy (with filters)Delta-RSI Strategy (with filters): This is a version of the Delta-RSI Oscillator strategy with several criteria available to filter entry and exit signals. This script is also suitable for backtesting over a user-defined period and offers several risk management options (take profit and stop loss). Since the publication of the Delta-RSI Oscillator script, I have been asked many times to make it compatible with the Strategy Tester and add filtering criteria to minimize "false" signals. This version covers many of these requests. Feel free to insert your favorite D-RSI parameters and play around! ABOUT DELTA-RSI Delta-RSI represents a smoothed time derivative of the RSI designed as a momentum indicator (see links below): INPUT DESCTIPTION MODEL PARAMETERS Polynomial Order : The order of local polynomial used to interpolate the relative strength index (RSI). Length : The length of the lookback frame where local regression is applied. RSI Length : The timeframe of RSI used as input. Signal Length : The signal line is a EMA of the D-RSI time series. This input parameter defines the EMA length. ALLOWED ENTRIES The strategy can include long entries, short entries or both. ENTRY AND EXIT CONDITIONS Zero-crossing : bullish trade signal triggered when D-RSI crosses zero from negative to positive values (bearish otherwise) Signal Line Crossing : bullish trade signal triggered when D-RSI crosses from below to above the signal line (bearish otherwise) Direction Change : bullish trade signal triggered when D-RSI was negative and starts ascending (bearish otherwise) APPLY FILTERS TO The filters (described below) can be applied to long entry, short entry and exit signals. RELATIVE VOLUME FILTER When activated, the D-RSI-driven entries and exits will be triggered only if the current volume is greater than N times the average over the last M bars. VOLATILITY FILTER When activated, the D-RSI-driven entries and exits will be triggered only if the N-period average true range, ATR, is greater than the M-period ATR. If N < M, this condition implies increasing volatility. OVERBOUGHT/OVERSOLD FILTER When activated, the D-RSI-driven entries and exits will be triggered only if the value of 14-period RSI is in the range between N and M. STOP LOSS/TAKE PROFIT Fixed and trailing stop loss as well as take profit options are available. FIXED BACKTESTING START/END DATES If the checkboxes are not checked, the strategy will backtest all available price bars.
Pine Script® strategy
by tbtkg
19
TSI HMA CCIHi! This strategy has TSI and CCI indicators with the CCI being based on a HMA instead of the Price. There is a number of conditions that must combine to create buy or sell signals, but it is basically a couple of MA crossovers. The strategy opens new orders on each candle if the conditions are met, Either direction, so it is hedging. It wont open new orders if there is a floating loss, and so is constantly attempting to hold a floating profit (drawup instead of drawdown) But It has a StopLoss (set by user) for closing of losing orders, and it closes all orders in basket style when account is in profit to users set amount target profit. Low commission set to simulate swap but Forex pairs generally dont have commission like the crypto exchanges do. So if you use this on cryptos, remember to increase the commission to your brokers amount. Crypto users will likely find that because this opens so many orders the commission could erase its profits. So i recommend this for Forex only, and perhaps, only NZDUSD 4H chart. other pairs, change settings for. The strategy has settings for testing on target time spans, so you could test it on just Jan-Feb 2020 for example, if you want, or from Jan 2020 to present day. Have Fun! Open Script for copy/paste/edit/publish your own version :)
Pine Script® strategy
by SeaSide420
14
RSI-VWAP Indicator %█ OVERALL Simple and effective script that, as you already know, uses vwap as source of the rsi, and with good results as long as the market has no long-term downtrend. RsiVwap = rsi (vwap (close), Length) The default settings are for BTC in a 30 minute time frame. For other pairs and time frames you just have to play with the settings. █ FEATURES • The option to start trading from a certain date has been added. • To make the profit more progressive, a percentage of your equity is used for entries and a percentage of your position is used for closings. • The option to trade in Spot mode has been added, since, for the TradingView backtest, the money is infinite and if you do not limit it somehow, it would offer you much better profits than the live trading. QuantityOnLong = Spot ? (EquityPercent / 100) * ((strategy.equity / close) - strategy.position_size) : (EquityPercent / 100) * (strategy.equity / close) • The option to stop the system when the drawdown exceeds the fixed limit has been added. Drawdown, as you already know, is a very important measure of risk in trading systems. The maximum drawdown will tell us what the maximum loss of a trading system has been during a period. This maximum loss is determined by: strategy.risk.max_drawdown(Risk, strategy.percent_of_equity) • Leverage plotted on labels added. █ ALERTS To enjoy the benefits of automatic trading, TradingView alerts can be used as direct buy-sell orders on spot, or long-close orders with leverage. Currently there are Chrome extensions that act as a bridge between TradingView and your Exchange or Broker. This is an example of syntax for this type of extensions. Copy and paste a message like this into the alert window: {{strategy.order.action}} @ {{strategy.order.price}} | e = {{exchange}} a = account s = {{ticker}} b = {{strategy.order.action}} {{strategy.order.alert_message}} █ NOTE Certain Risks of Live Algorithmic Trading You Should Know: • Backtesting cannot assure actual results. • The relevant market might fail or behave unexpectedly. • Your broker may experience failures in its infrastructure, fail to execute your orders in a correct or timely fashion or reject your orders. • The system you use for generating trading orders, communicating those orders to your broker, and receiving queries and trading results from your broker may fail. • Time lag at various point in live trading might cause unexpected behavior. • The systems of third parties in addition to those of the provider from which we obtain various services, your broker, and the applicable securities market may fail or malfunction. █ THANKS Thanks to TradingView, its Pine code, its community and especially those Pine wizards who post their ideas that helps us to learn. If the world is heading toward a equitable new world economic order, let's get rich first ... Happy trading!
Pine Script® strategy
by UnknownUnicorn2151907
34
MA Divergences StrategyThis is the Strategy version of the Study I published. It is a Moving Average that can be applied to any plot to plot divergences on any oscillator, as well as perform backtesting. You'll need a REALLY good oscillator to perform live trades using this alone, but I think it is a valuable tool and had the Strategy hanging around and for some reason didn't upload it yet. So here it is. Turn Length to 1 to follow the oscillator without lag. Turn Length up if you are getting too many false signals or tweak the original oscillator settings.
Pine Script® strategy
by burgercrisis
MACD 50x Leveraged Strategy Real Equity Simulation Hello, I wrote this script to merge the two scripts I shared before. The aim here is to see the real value of the state of the capital as a result of leveraged transactions and to combine both long and short directions. Scripts : MACD Long 50x Leverage Strategy : MACD Short 50x Leverage Strategy : The parameters have not changed so they are the same as the previous two scripts: Adding margin: Forbidden or not specified. (Add Margin : No) Position Size : %1 (0.01) (For each trade) Stop-Loss : %2 (For each trade) Long : Crossover(delta,0) (Standard MACD) Long Exit : Long Stop Level or Short Entry (In the case of Long Stop, all trades are closed and no positions are opened in short direction.) Short : Crossunder(delta,0) (Standard MACD) Short Exit : Short Stop or Long Entry (In the case of Short Stop, all trades are closed and no positions are opened in the long direction.) NOTE : This is a simulation made using standard parameters, showing the state of the balance in very simple rules with leveraged transactions only. The nice thing here is the direct observation of the results by making modifications on the strategy parameters. Regards.
Pine Script® strategy
by Noldo
2
RSI of MACD Strategy [Long only]This strategy uses the RSI on MACD indicator. BUY ==== When RSI indicator crossing over 30 or 35 line and price above slow ema Note: when the position already taken, you may reenter on the purple candle Partial Exit ========== Partial profit taking option is available in settings. If this is selected , 1/3 position exited when RSI indicator crossing down 80 line Close ===== When RSI indicator crossing below 15 Stop Loss ========= I havent used hard stop loss in this strategy. Reason is , when price going down , indicator may go up ... so just wanted to ride along with indicator ... Stop loss mentioned in the settings is used in calculation of how many units can be be purchased based on risk level Tested with SPY and QQQ ETFs on hourly chart Warning ========= For the eductional purposes only ... This is not a financial advise. please do your own research before taking any trading decission
Pine Script® strategy
by mohanee
6
Super Momentum StrategyThis is a strategy utilizing multiple of Evergets RMI (thanks to him for permission to publish) and a Chance Momentum. It buys when 4 of the RMIs are below their thresholds and sells when they are above. There is a 5th one I added last night that works in Reverse - buy when its above and sell when below, which should work better for pyramiding strats by using it at the right rate to set the overall trend. Very basic sample below, I could have set it up better as my example but just want to publish.
Pine Script® strategy
by burgercrisis
7
RMI + Triple HMRSI + Double EVWRSI + TERSI + CMO StrategyThis is a strange experimental strategy WIP that I decided to upload an early version to share some of what I am working on. Just one script of a few. It combines Chande Momentum with RMI and some weird ones I am experimenting with - Triple Hull MA RSI, Double Exponential + Volume Weighted RSI, Triple Exponential RSI. And to top it off, a final oscillator that combines the THMRSI with the RMI. The main intention here, currently, is to test the usefulness of each on different timeframes and values. Currently it is considered to buy when all are below their threshold and sell when all are above, with the chande momentum crossing its line as the final confirmation. For now there is no individual for each of the unique elements included. I am going to likely use this is a working house project to test other experimental indicators in the future. It may be some of these are better suited for long term but I do think they have valid uses in checking short and long term momentum at the very least. I copied the RMI from Everget.
Pine Script® strategy
by burgercrisis
Combo Backtest 123 Reversal & MACD Crossover with Trail and Stop This is a modification of @HPotter "Combo Backtest 123 Reversal & MACD Crossover" script. I've added a trail stop, basic leverage simulation and stop loss. Below is HPotter's explanation of the script principals. First strategy This System was created from the Book "How I Tripled My Money In The Futures Market" by Ulf Jensen, Page 183. This is reverse type of strategies. The strategy buys at market, if close price is higher than the previous close during 2 days and the meaning of 9-days Stochastic Slow Oscillator is lower than 50. The strategy sells at market, if close price is lower than the previous close price during 2 days and the meaning of 9-days Stochastic Fast Oscillator is higher than 50. Second strategy MACD – Moving Average Convergence Divergence. The MACD is calculated by subtracting a 26-day moving average of a security's price from a 12-day moving average of its price. The result is an indicator that oscillates above and below zero. When the MACD is above zero, it means the 12-day moving average is higher than the 26-day moving average. This is bullish as it shows that current expectations (i.e., the 12-day moving average) are more bullish than previous expectations (i.e., the 26-day average). This implies a bullish , or upward, shift in the supply/demand lines. When the MACD falls below zero, it means that the 12-day moving average is less than the 26-day moving average, implying a bearish shift in the supply/demand lines. A 9-day moving average of the MACD (not of the security's price) is usually plotted on top of the MACD indicator. This line is referred to as the "signal" line. The signal line anticipates the convergence of the two moving averages (i.e., the movement of the MACD toward the zero line). Let's consider the rational behind this technique. The MACD is the difference between two moving averages of price. When the shorter-term moving average rises above the longer-term moving average (i.e., the MACD rises above zero), it means that investor expectations are becoming more bullish (i.e., there has been an upward shift in the supply/demand lines). By plotting a 9-day moving average of the MACD , we can see the changing of expectations (i.e., the shifting of the supply/demand lines) as they occur. WARNING: - For purpose educate only - This script to change bars colors.
Pine Script® strategy
by CoinDigger
2
Combo Backtest 123 Reversal & MACD Crossover This is combo strategies for get a cumulative signal. First strategy This System was created from the Book "How I Tripled My Money In The Futures Market" by Ulf Jensen, Page 183. This is reverse type of strategies. The strategy buys at market, if close price is higher than the previous close during 2 days and the meaning of 9-days Stochastic Slow Oscillator is lower than 50. The strategy sells at market, if close price is lower than the previous close price during 2 days and the meaning of 9-days Stochastic Fast Oscillator is higher than 50. Second strategy MACD – Moving Average Convergence Divergence. The MACD is calculated by subtracting a 26-day moving average of a security's price from a 12-day moving average of its price. The result is an indicator that oscillates above and below zero. When the MACD is above zero, it means the 12-day moving average is higher than the 26-day moving average. This is bullish as it shows that current expectations (i.e., the 12-day moving average) are more bullish than previous expectations (i.e., the 26-day average). This implies a bullish, or upward, shift in the supply/demand lines. When the MACD falls below zero, it means that the 12-day moving average is less than the 26-day moving average, implying a bearish shift in the supply/demand lines. A 9-day moving average of the MACD (not of the security's price) is usually plotted on top of the MACD indicator. This line is referred to as the "signal" line. The signal line anticipates the convergence of the two moving averages (i.e., the movement of the MACD toward the zero line). Let's consider the rational behind this technique. The MACD is the difference between two moving averages of price. When the shorter-term moving average rises above the longer-term moving average (i.e., the MACD rises above zero), it means that investor expectations are becoming more bullish (i.e., there has been an upward shift in the supply/demand lines). By plotting a 9-day moving average of the MACD, we can see the changing of expectations (i.e., the shifting of the supply/demand lines) as they occur. WARNING: - For purpose educate only - This script to change bars colors.
Pine Script® strategy
by HPotter
5
scalping low lag tema etalCredit for original idea goes to 1 min forex scalping by mikegoryunov Changes include several lower lag filters (See line 3 for a list) and values for profit, loss, and trail_points (See lines 48:53) a, b, & c represent fast, medium, and slow filters. Basic idea is to monitor crossovers of the three filters to determine buy/sells. Exits occur quickly within the next time interval. Note that this may be used for stocks and forex. The time interval can vary widely. I have concerns about how to incorporate transaction costs with so many transactions.
Pine Script® strategy
by capam
3
CHOP Zone Entry Strategy + DMI/PSAR ExitThis is a Strategy with associated visual indicators and Long/Short and Reverse/Close Position Alerts for the Choppiness Index (CHOP) . It is used to determine if the market is choppy (trading sideways) or not choppy (trading within a trend in either direction). CHOP is not directional, so a DMI script was ported into this strategy to allow for trend confirmation and direction determination; it consists of an Average Directional Index (ADX) , Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) . In addition, a Parabolic SAR is also included to act as a trailing stop during any strong trends. Development Notes --------------------------- This indicator, and most of the descriptions below, were derived largely from the TradingView reference manual. Feedback and suggestions for improvement are more than welcome, as well are recommended Input settings and best practices for use. www.tradingview.com www.tradingview.com www.tradingview.com Recommend using the below DMI and PSAR indicators in conjunction with this script to fully visualize and understand how entry and exit conditions are chosen. Variable inputs should correlate between the scripts for uniformity and visual compatibility. THANKS to LazyBear and his Momentum Squeeze script for helping me quickly develop a momentum state model for coloring the Chop line by trend. Strategy Description --------------------------- CHOP produces values that determine whether the market is choppy or trending . The closer the value is to 100 , the higher the choppiness levels , while the closer it is to 0 , the stronger the market is trending . Territories for both levels, and their associated upper and lower thresholds, are popularly defined using the Fibonacci Retracements, 61.8 and 38.2. Basic Use --------------------------- CHOP is often used to confirm the market condition to help you stay out of sideways markets and only enter when there is movement or imminent explosions. When readings are above the upper threshold, continued sideways movement may be expected, while readings below the lower threshold are typically indicative of a continuing trend. It is also used to anticipate upcoming trendiness changes, with the general belief that extended periods of consolidation (sideways movement) are followed by extended periods of strong, trending, directional movement, and vice versa. One limitation in this index is that you must be cautious in deciding whether the range or trend will likely continue, or if it will reverse. Confidence in price action and trend is higher when two or more indicators are in agreement -- while this strategy combines CHOP with both DMI and PSAR, we would still recommend pairing with other indicators to determine entry or exit trade opportunities. Recommend also choosing 'Once Per Bar Close' when creating alerts. Inputs --------------------------- Strategy Direction - an option to only trade Short, Long, Both, or only in the direction of the Trend (Follow Trend is the Default). Sensitivity - an incremental variable to test whether the past n candles are in the same trend state before triggering a delayed long or short alert (1 is the Default). Can help filter out noise and reduces active alerts. Show Chop Index - two visual styles are provided for user preference, a visible Chop line with a background overlay, or a compact column and label only view. Chop Lookback Period - the time period to be used in calculating CHOP (14 is the Default). Chop Offset - changing this number will move the CHOP either forwards or backwards relative to the current market (0 is the Default). Smooth Chop Line and Length - if enabled, the entered time period will be used in calculating a smooth average of the index (Enabled and 4 are the Defaults). Color Line to Trend Direction - toggles whether the index line is colored to visually depict the current trend direction (Enabled is the Default). Color Background - toggles the visibility of a background color based on the index state (Enabled is the Default). Enable DMI Option - if enabled, then entry will be confirmed by and dependent on the ADX Key Level, with any close or reversal confirmed by both ADX and +/-DI to determine whether there is a strong trend present or not (Enabled is the Default). ADX Smoothing - the time period to be used in calculating the ADX which has a smoothing component (14 is the Default). DI Length - the time period to be used in calculating the DI (14 is the Default). ADX Key Level - any trade with the ADX above the key level is a strong indicator that it is trending (23 to 25 is the suggested setting). Enable PSAR Option - enables trailing stop loss orders (Enabled is the Default). PSAR Start - the starting value for the Acceleration Force (0.015 is our chosen Default, 0.02 is more common). PSAR Increment - the increment in which the Acceleration Force will move (0.001 is our chosen Default, 0.02 is more common). PSAR Max Value - the maximum value of the Acceleration Factor (0.2 is the Default). Color Candles Option - an option to transpose the CHOP condition levels to the main candle bars. Note that the outer red and green border will still be distinguished by whether each individual candle is bearish or bullish during the specified timeframe. Note too that if both DMI and PSAR are deselected, then close determinations will default to a CHOP reversal strategy (e.g., close long when below 38.2 and close short when above 61.8). Though if either DMI or PSAR are enabled, then the CHOP reversal for close determination will automatically be disabled. Indicator Visuals --------------------------- For the candle colors, black indicates tight chop (45 to 55), yellow is loose chop (38.2 to 45 and 55 to 61.8), dark purple is trending down (< 38.2), and dark blue is trending up (> 61.8). The background color has additional shades to differentiate a wider range of more levels… • < 30 is dark purple • 30 to 38.2 is purple • 38.2 to 45 is light purple • 45 to 55 is black • 55 to 61.8 is light blue • 61.8 to 70 is blue • > 70 is dark blue Long, Short, Close, and Reverse labels are plotted on the Chop line, which itself can be colored based on the trend. The chop line can also be hidden for a clean and compact, columnar view, which is my preferred option (see example image below). Visual cues are intended to improve analysis and decrease interpretation time during trading, as well as to aid in understanding the purpose of this strategy and how its inclusion can benefit a comprehensive trading plan. DMI and Trend Strength --------------------------- To analyze trend strength, the focus should be on the ADX line and not the +DI or -DI lines.  An ADX reading above 25 indicates a strong trend , while a reading below 20 indicates a weak or non-existent trend .  A reading between those two values would be considered indeterminable. Though what is truly a strong trend or a weak trend depends on the financial instrument being examined; historical analysis can assist in determining appropriate values. DMI exits trade when ADX is below the user selected key level (e.g., default is 25) and when the +/- DI lines cross (e.g., -DI > +DI exits long position and +DI > -DI exits short position). PSAR and Trailing Stop --------------------------- PSAR is a time and price based indicator that excels at measuring direction and duration, though not the actual strength of a trend, which is why we use this in conjunction with DMI. It is also included in this script as a trailing stop option to maximize gains during strong trends and to mitigate any false ADX strengthening signals. This creates a parabola that is located below the candle during a Bullish trend and above during a Bearish trend. A buy or reversal is signaled when the price crosses above or below the Parabolic SAR. Long/Short Entry --------------------------- 1. CHOP must be over 61.8 (long) or under 38.2 (short). 2. If DMI is enabled, then the ADX signal line must be above the user selected Key Level (default is 25). 3. If Sensitivity is selected, then that past candle must meet the criteria in step 1, as well as all the intermediate candles in between. 4. If "Follow Trend" is selected and PSAR is enabled, then a long position can only open when the momentum and PSAR are in an uptrend, or short when both are in a downtrend, to include all intermediate candles if the Sensitivity option is set on a past candle. Close/Reverse --------------------------- 1. If DMI is enabled, then a close flag will be raised when the ADX signal drops below the Key Level (of 25), and -DI crosses over +DI (if long), or +DI crosses over -DI (if short). 2. If PSAR is enabled, then a close flag will be raised when the current trend state is opposite the last state. 3. If both DMI and PSAR are disabled, then a close flag will be raised if the Chop line drops under 38.2 (if long) or goes over 61.8 (if short). 4. If a Long or Short Entry is triggered on the same candle as any of the above close flags, then the position will be reversed, else the position will be closed. Strategy Alerts --------------------------- 1. Long Entry 2. Short Entry 3. Reverse 4. Close The provided backtest result is based on a position sizing of 10% equity with 100k initial capital. When testing SPX, disabling the DMI performed the best, but EURUSD performed poorly without it enabled, and TSLA had a small reduction in net profit. Timeframe likewise differed between commodities with TSLA performing best at 30M, SPX at 15M, and EURUSD at 4H. I do not plan on using this as a standalone strategy, but I also was expecting better results with the inclusion of EMI and PSAR to compliment the CHOP. Key elements of this script will likely be included in future, more holistic strategies. Disclaimer --------------------------- Past performance may not be indicative of future results. Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting. This post and the script are not intended to provide any financial advice. Trade at your own risk. No known repainting, though there may be if an offset is introduced in the Inputs. I did my best not to code any other variables that repaint, but cannot fully attest to this fact.
Pine Script® strategy
by IronCasper
4