[Round Numbers] Signal Clean Up Analysis with Backtest (TSO)Round Numbers NEW GEN indicator!
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This is a full-cycle trading system indicator - it will show and alert each step of the trade from open to close. The algorithm here uses Round Numbers for generating signals, TP (Take Profit) and SL (Stop Loss) levels. Round numbers play big role in trading and can easily become strong support and resistance levels where price can bounce and go the opposite way or go through with a very nice run afterwards.
In addition there is a chained (NOTE: You can select several or ALL of the features, this is not limited to either one) signal cleanup and analysis approach with scheduling and alerting capabilities. Works with most popular timeframes: 1M, 3M, 5M, 15M, 30M, 1H, 4H, D.
NOTE: Every action of the trade is calculated on a confirmed closed candle bar state (barstate.isconfirmed), so the indicator will never repaint!
NOTE: At position open - there will be calculated Take-Profit and Stop-Loss targets, however each target is considered hit, when candle bar closes breaking that target, so Take-Profit and Stop-Loss when hit will slightly differ then what you see at trade/position open.
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Round Numbers up|down unit setting and overall explanation
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Round Number up|down unit: is the distance between round numbers on the chart. Since these round number levels are also used by the algorithm to open/close trades, it is important to set this setting to a logical number, which will correspond to an average price movement of the instrument.
Here are some examples for a few popular instruments on what will the default 1 round number unit correspond to and what would be suggested:
BTCUSD > $1 (this won't work for Bitcoin, try at least $100 - 100units)
SPY: > $1 (one of the best settings for SPY or QQQ, 50cents shows good results as well - 0.5units)
FOREX (all major pairs): > 10PIPs (that may be a bit small, unless scalping, try 50PIPs - 5units)
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Explanation of all the Features | Strategy Configuration Guide | Indicator Settings | Signal Cleanup Analysis
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>>> Customizable Backtesting for a specific date range, results via TradingView strategy, which includes “Deep Backtesting” for largest amounts of data on trading results.
>>> Trading Schedule with customizable trading daily time range, automatic closing/alert trades before Power Hour or right before market closes or leave it open until next day.
>>> 3 Trading Systems.
>>> Static/Dynamic/Trailing Take-Profit and Stop-Loss setups (HIGHLIGHT: Stop-Loss will be moved to Entry after TP1 is taken or a smart trailing Stop-Loss can be used with Stop-Loss dynamically following the trade to minimize risk).
>>> Single or Multiple profit targets (up to 5).
>>> Take-Profit customizable offset feature (set your Take-Profit targets slightly before everyone is expecting it!).
>>> Candle bar signal analysis (matching candle color, skip opposite structured and/or doji candle uncertain signals).
>>> Additional analysis of VWAP/EMA/ATR/EWO (Elliot Wave Oscillator)/Divergence MACD+RSI/Volume signal confirmation (clean up your chart with indicator showing only the best potential signals!).
>>> Advanced Alerts setup, which can be potentially setup with a trading bot over TradingView Webhook (NOTE: This will require advanced programming knowledge).
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Labels, plots, colors explanations:
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>>>>> LONG open: green "house" looking arrow below candle bar.
>>>>> SHORT open: red "house" looking arrow above candle bar.
>>>>> LONG/SHORT take-profit target: green/red circles (multi-profit > TP2/3/4/5 smaller circles).
>>>>> LONG/SHORT stop-loss target: green/red + crosses.
>>>>> LONG/SHORT take-profit hits: green/red diamonds.
>>>>> LONG/SHORT stop-loss hits: green/red X-crosses.
>>>>> LONG/SHORT EOD (End of Day | Intraday style) close (profitable trade): green/red squares.
>>>>> LONG/SHORT EOD (End of Day | Intraday style) close (loss trade): green/red PLUS(+)-crosses.
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Date Range and Trading Schedule Settings
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>>>>> Date Range: Select your start and/or end dates (uncheck “End” for indicator to show results up to the very moment and to use for LIVE trading) for backtesting results, if not using backtesting – uncheck “Start”/“End” to turn it off.
>>>>> Use TradingView “Strategy Tester” to see backtesting results
NOTE: If Strategy Tester does not show any results with Date Ranged fully unchecked, there may be an issue where a script opens a trade, but there is not enough TradingView power to set the Take-Profit and Stop-Loss and somehow an open trade gets stuck and never closes, so there are “no trades present”. In such case you will need to manually check “Start”/“End” dates or use “Depp Backtesting” feature!
>>>>> Trading Schedule: This is where you can setup Intraday Session or any custom session schedule you wish. Turn it ON. Select trading hours. Select EOD (End of Day) setting (NOTE: If it will be OFF, the indicator will assume you are holding your position open until next day!). Please note the EOD trade closure times with the 2 different Intraday close settings when turned on:
At Market Close:
1/3/5min > will close at 15:55pm ET
15min > will close at 15:45pm ET
30min > will close at 15:30pm ET
45min > will close at 15:45pm ET
60min > will close at 15:00pm ET
Before Power Hour:
1/3/5min > will close at 15:00pm ET
15min > will close at 15:00pm ET
30min > will close at 15:00pm ET
45min > will close at 15:00pm ET
60min > will close at 15:00pm ET
>>> Trading Systems: 1) "Open Until Closed by TP or SL": the signal will only open a trade if no trades are currently open/trunning, a trade can only be closed by Take Profit, Stop Loss or End of Day close (if turned on) | 2) "Open Until Closed by TP or SL + OCA": Same as 1), but if there is an opposite signal to the trade which is currently open > it will immediately be closed with new trade open or End of Day close (if turned on) | 3) "OCA (no TP or SL)": There are is Take Profit or Stop Loss, only an opposite signal will close current trade and open an opposite one or End of Day close (if turned on).
>>> Turn On/Off: Current Position SL + Opposite Position Open Signal on the same closing candle bar (If current trade hits Stop-Loss and at that same closing candle bar there is a signal for an opposite direction trade > indicator will close current position as Stop-Loss and immediately open an opposite position). NOTE: With this option turned on, there will be more trades, but not necessarily better results, since after Stop-Loss is hit, it may make sense to wait a little before opening an opposite trade, even if it matches the condition at the same time when Stop-Loss is hit, but sometimes it shows great results, so this setting/feature is included. NOTE: This setting only will work/make sense with TP and SL style/behavior both be set to "Fully Closed Candle"!
>>> Turn On/Off: Turn On/Off: Current Position REGULAR SL | Only the SL + Opposite Position Open will trigger if turned on, IF NOT - THERE WILL BE NO STOP-LOSS AT ALL!!! NOTE: It is very dangerous to trade without Stop-Loss!
>>>>> Signal Candle Bar consuming Take-Profits - position/trade signal candle bar is big enough to "consume"/close ahead the first TP setting > the signal can either be skipped, or all Take-Profit areas pushed ahead using smart formula)
>>>>> MULTIPROFIT | TP (Take-Profit) System: 1) Static – Once the trade is open, all Take-Profit target(s) are immediately calculated and set for the trade > once the target(s) is hit > trade will be partially closed (if candle bar closes beyond several Take-Profit targets > trade will be reduced accordingly to the amount of how many Take-Profit targets were hit) ||| 2) Dynamic – Once the trade is open, only the 1st Take-Profit target is calculated, once the 1st Take-Profit is hit > next Take-Profit distance is calculated based on the distance from trade Entry to where 1st Take-Profit was taken, once 2nd Take-Profit is taken > 3rd Take-Profit is calculated per same logic, these are good for price momentum as with price speeding up – profits increase as well!
>>>>> MULTIPROFIT: SL (stop loss) System | Static: SL is set at position open and remains such; Dynamic: Once ANY TP is taken > SL will be moved to Entry; Trailing: SL will be moved along the position (smart trailing stop-loss), at TP1 taken > SL moves to Entry, at TP2 taken > SL moves to TP1, at TP3 taken > SL moves to TP2 and so on.
>>>>> # of TPs (number of take profit targets): Just like it is named, this is where you select the number of Take-Profit targets for your trading system (NOTE: If "OCA (no TP or SL)" Trading System is selected, this setting won’t do anything, since there are no TP or SLs for that system).
>>>>> TP(s) offset: This is a special feature for all Take-Profit targets, where you can turn on a customizable offset, so that if the price is almost hitting the Take-Profit target, but never actually touches it > you will capture it. This is good to use with HHLL (Highest High Lowest Low), which is pretty much a Support/Resistance as often the price will nearly touch these strong areas and turn around…
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Dynamic/Static/Trailing Take-Profit and Stop-Loss visual examples:
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1) Fully Static Take-Profit and Stop-Loss
This one is a fully static setup for both Take-Profit and Stop-Loss, you can also observe how trade is closed right before the Power Hour (trade can be closed right before Power Hour or right before Market Closes or left overnight as desired).
2) Static/Dynamic, Static Take-Profit and Dynamic Stop-Loss
You can see a static Take-Profit set at position open, while Stop-Loss moves to Entry once TP1 target is taken.
3) Static/Trailing, Static Take-Profit and Trailing Stop-Loss
In here with each Take-Profit taken, Stop-Loss moves along the trade to previous Take-Profit level, you can notice how stop-loss literally follows the trade and reduces the potential loss.
4) Dynamic/Trailing, Dynamic Take-Profit and Trailing Stop-Loss
See how Take-Profit distances increase with price momentum. Just like in previous example - Trailing Stop-Loss is following the trade and reducing the riks.
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Signal Analysis and Cleanup Settings
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>>>>> Candle Analysis | Candle Color signal confirmation: If closed candle bar color does not match the signal direction > no trade will be open.
>>>>> Candle Analysis | Skip opposite candle signals: If closed candle bar color will match the signal direction, but candle structure will be opposite (for example: bearish green hammer, long high stick on top of a small green square) > no trade will be open.
>>>>> Candle Analysis | Skip doji candle signals: If closed candle bar will be the uncertain doji > no trade will be open.
>>>>> Divergence/Oscillator Analysis | EWO (Elliot Wave Oscillator) signal confirmation: LONG will only be open if at signal, EWO is green or will be at bullish slope (you can select which setting you desire), SHORT if EWO is red or will be at bearish slope.
>>>>> Divergence/Oscillator Analysis | VWAP signal confirmation: LONG will only be open if at signal, the price will be above VWAP, SHORT if below.
>>>>> Divergence/Oscillator Analysis | Moving Average signal confirmation: LONG will only be open if at signal, the price will be above selected Moving Average, SHORT if below.
>>>>> Divergence/Oscillator Analysis | ATR signal confirmation: LONG will only be open if at signal, the price will be above ATR, SHORT if below.
>>>>> Divergence/Oscillator Analysis | RSI + MACD signal confirmation: LONG will only be open if at signal, RSI + MACD will be bullish, SHORT if RSI + MACD will be bearish.
>>>>> Volume signal confirmation: LONG/SHORT will only be opened with strong Volume matching the signal direction, by default, strong Volume percentage is set to 150% and weak to 50%, but you can change it as you desire.
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TP System - VERY IMPORTANT INFO!
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"TP PERCENTAGE" - amount by which current trade/position needs to be reduced/partially closed/sold.
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TP System: Dynamic
"TP PERCENTAGE" - will always be the same amount (trade/position size divided by the # of take-profit(TP) targets) and percentage to be closed will always be of the ORIGINAL trade/position.
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TP System: Static
"TP PERCENTAGE" - will always be the same amount IF take-profit(TP) targets are hit 1-by-1 (TP1 > TP2 > TP3 > TP4 > TP5), otherwise it will vary and unless it is a 1st take-profit(TP1), the REMAINING trade/position size will always be smaller than original and therefore the percentage to be closed will always be of the REMAINING trade/position and NOT the original one!
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"TP PERCENTAGE" CheatSheet (these are the only percentages you may see)
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TP PERCENTAGE---Close/Sell Amount-------------Example (trade size: 50 stocks)
20%-------------trade size * 0.2--------------50 * 0.2 = 10 stocks
25%-------------trade size * 0.25-------------50 * 0.25 = 12.5(~13) stocks
34%-------------trade size * 0.34-------------50 * 0.34 = 17 stocks
40%-------------trade size * 0.4--------------50 * 0.4 = 20 stocks
50%-------------trade size * 0.5--------------50 * 0.5 = 25 stocks
60%-------------trade size * 0.6--------------50 * 0.6 = 30 stocks
66%-------------trade size * 0.66-------------50 * 0.66 = 33 stocks
75%-------------trade size * 0.75-------------50 * 0.75 = 37.5(~38) stocks
80%-------------trade size * 0.8--------------50 * 0.8 = 40 stocks
100%------------trade size--------------------50 = 50 stocks
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If for any reason a portion of the current/remaining trade closed at such occurrence was slightly wrong, it is not an issue. Such occurrences are rare and with slight difference in partial TP closed is not significant to overall performance of our algorithms.
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Alert Settings (you don’t have to touch this section unless you will be using TradingView alerts through a Webhook to use with trading bot)
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Here is how a LONG OPEN alert looks like.
NOTE: Each label , , etc. is customizable, you can change the text of it within indicator Input settings.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: OPEN
ENTRY: 20000
TP1: 20500
TP2: 21000
TP3: 21500
TP4: 22500
TP5: 23500
SL: 19000
Leverage: 0
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Here is how a TP1 alert will look with 5 TPs breakdown of the trade.
NOTE1: Next to TP1 taken it will show at which price it was triggered.
NOTE2: Next to "TP Percentage" it shows how much of the CURRENT/ACTIVE/REMAINING trade needs to be closed.
NOTE2: If TP2/3/4/5 comes before TP1 - the alert will tell you exactly how many percent of the trade needs to be closed!
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: TP1
TP1: 20500
TP Percentage: 20%
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Here is how an alert will look for LONG - STOP-LOSS.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
ENTRY: 20000
LONG: SL
SL: 19000
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Here is how an alert will look for LONG - EOD (End of Day) In Profit close.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: EOD-Close (profit)
ENTRY: 20000
EOD-Close: 21900
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Adding Alerts in TradngView
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-Add indicator to chart and make sure the correct strategy is configured (check Backtesting results)
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Select this indicator by it’s name
-Immediately below, change it to "alert() function calls only", as other wise there will be 2 alerts for every alert!
-Expiration: Open-ended (that may require higher tier TradingView account, otherwise the alert will need to be occasionally re-triggered)
-Alert name: Whatever you desire
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
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If you have any questions or issues with the indicator, please message me directly via TradingView.
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Good Luck! (NOTE: Trading is very risky, past performance is not necessarily indicative of future results, so please trade responsibly!)
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NOTE: There seems to be a strange glitch when strategy is running live, it will show "double-take" take-profits labels on the chart. This is not affecting the script logic and backtesting results, if you simply change the timeframe real quick to something else then back - it will no longer show the duplicate orders... this must be some sort of a glitch as every alert was thoroughly tested to make sure everything is working!
Customizable
[Camarilla Pivots] Signal Clean Up Analysis with Backtest (TSO)Camarilla Pivots NEW GEN Indicator!
This is a full-cycle trading system indicator, which uses Camarilla Pivots for generating signals using a custom developed algorithm, TP (Take Profit) and SL (Stop Loss) levels. There are 3 SOURCES for signals (each can be used separately or in combination or all 3 can be used at the same time, each signal SOURCE is using Camarilla Pivots levels to open optimal trade direction) with chained (NOTE: There are many potential profitable setups available, by combining clean up features availabe in the indicator settings!) signal cleanup and analysis approach with scheduling and alerting capabilities. Works best with shorter timeframes: 1M, 5M, 15M, 1H.
NOTE: Every calculation is done on a confirmed closed candle bar state, so the indicator will never repaint!
NOTE: At position open - there will be calculated Take-Profit and Stop-Loss targets, however each target is considered hit, when candle bar closes breaking that target, so Take-Profit and Stop-Loss when hit will slightly differ then what you see at position open!
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Explanation of all the Features | Configuration Guide | Indicator Settings | Signal Cleanup Analysis
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>>> Customizable Backtesting for a specific date range, results via TradingView strategy, which includes “Deep Backtesting” for largest amounts of data on trading results.
>>> Trading Schedule with customizable trading daily time range, automatic closing/alert trades before Power Hour or right before market closes or leave it open until next day.
>>> 3 Trading Systems.
>>> Multiple Signal SOURCEs for opening trades, either SOURCE can be used or both at the same time!
>>> Static/Dynamic Stop-Loss setups (HIGHLIGHT: Stop-Loss will be moved to Entry after TP1 is taken, which minimizes risk).
>>> Single or Multiple profit targets (up to 5).
>>> Take-Profit customizable offset feature (set your Take-Profit targets slightly before everyone is expecting it!).
>>> Candle bar signal analysis (matching candle color, skip opposite structured and/or doji candle uncertain signals).
>>> Additional analysis of VWAP/EMA/ATR/EWO (Elliot Wave Oscillator)/Divergence MACD+RSI/Volume signal confirmation (clean up your chart with indicator showing only the best potential signals!).
>>> Advanced Alerts setup, which can be potentially setup with a trading bot over TradingView Webhook (NOTE: This will require advanced programming knowledge).
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Labels, plots, colors explanations:
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>>>>> LONG open: green "house" looking arrow below candle bar.
>>>>> SHORT open: red "house" looking arrow above candle bar.
>>>>> LONG/SHORT take-profit target: green/red circles (multi-profit > TP2/3/4/5 smaller circles).
>>>>> LONG/SHORT stop-loss target: green/red + crosses.
>>>>> LONG/SHORT take-profit hits: green/red diamonds.
>>>>> LONG/SHORT stop-loss hits: green/red X-crosses.
>>>>> LONG/SHORT EOD (End of Day | Intraday style) close (profitable trade): green/red squares.
>>>>> LONG/SHORT EOD (End of Day | Intraday style) close (loss trade): green/red PLUS(+)-crosses.
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Date Range and Trading Schedule Settings
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>>>>> Date Range: Select your start and/or end dates (uncheck “End” for indicator to show results up to the very moment and to use for LIVE trading) for backtesting results, if not using backtesting – uncheck “Start”/“End” to turn it off.
>>>>> Use TradingView “Strategy Tester” to see backtesting results
NOTE: If Strategy Tester does not show any results with Date Ranged fully unchecked, there may be an issue where a script opens a trade, but there is not enough TradingView power to set the Take-Profit and Stop-Loss and somehow an open trade gets stuck and never closes, so there are “no trades present”. In such case you will need to manually check “Start”/“End” dates or use “Depp Backtesting” feature!
>>>>> Trading Schedule: This is where you can setup Intraday Session or any custom session schedule you wish. Turn it ON. Select trading hours. Select EOD (End of Day) setting (NOTE: If it will be OFF, the indicator will assume you are holding your position open until next day!). Please note the EOD trade closure times with the 2 different Intraday close settings when turned on:
At Market Close:
1/3/5min > will close at 15:55pm ET
15min > will close at 15:45pm ET
30min > will close at 15:30pm ET
45min > will close at 15:45pm ET
60min > will close at 15:00pm ET
Before Power Hour:
1/3/5min > will close at 15:00pm ET
15min > will close at 15:00pm ET
30min > will close at 15:00pm ET
45min > will close at 15:00pm ET
60min > will close at 15:00pm ET
>>> Trading Systems: 1) "Open Until Closed by TP or SL": the signal will only open a trade if no trades are currently open/trunning, a trade can only be closed by Take Profit, Stop Loss or End of Day close (if turned on) | 2) "Open Until Closed by TP or SL + OCA": Same as 1), but if there is an opposite signal to the trade which is currently open > it will immediately be closed with new trade open or End of Day close (if turned on) | 3) "OCA (no TP or SL)": There are is Take Profit or Stop Loss, only an opposite signal will close current trade and open an opposite one or End of Day close (if turned on).
>>> Position Open sources:
>>>>> Position Open - SOURCE1 | LONG: S3, SL: S4, TP1: R3, TP2: R4, TP3: R5, TP4/5: Smart Formula | SHORT: R3, SL: R4, TP1: S3, TP2: S4, TP3: S5, TP4/5: Smart Formula
>>>>> Position Open - SOURCE2 | LONG: R4, SL: R3, TP1: R5, TP2/3/4/5: Smart Formula | SHORT: S4, SL: S3, TP1: S5, TP2/3/4/5: Smart Formula
>>>>> Position Open - SOURCE3 | LONG: R5, SL: R4, TP1/2/3/4/5: Smart Formula | SHORT: S5, SL: S4, TP1/2/3/4/5: Smart Formula
>>> Turn On/Off: Current Position SL + Opposite Position Open Signal on the same closing candle bar (If current trade hits Stop-Loss and at that same closing candle bar there is a signal for an opposite direction trade > indicator will close current position as Stop-Loss and immediately open an opposite position). NOTE: With this option turned on, there will be more trades, but not necessarily better results, since after Stop-Loss is hit, it may make sense to wait a little before opening an opposite trade, even if it matches the condition at the same time when Stop-Loss is hit, but sometimes it shows great results, so this setting/feature is included.
>>> Turn On/Off: Turn On/Off: Current Position REGULAR SL | Only the SL + Opposite Position Open will trigger if turned on, IF NOT - THERE WILL BE NO STOP-LOSS AT ALL!!! NOTE: It is very dangerous to trade without Stop-Loss!
>>>>> Signal Candle Bar consuming Take-Profits - position/trade signal candle bar is big enought to "consume"/close ahead the first TP setting > the signal can either be skipped, or all Take-Profit areas pushed ahead using smart formula)
>>>>> MULTIPROFIT | TP (Take-Profit) System: Once the trade is open, all Take-Profit target(s) are immediately calculated and set for the trade > once the target(s) is hit > trade will be partially closed (if candle bar closes beyond several Take-Profit targets > trade will be reduced accordingly to the amount of how many Take-Profit targets were hit)
>>>>> MULTIPROFIT | SL (Stop-Loss) System: 1) Static – Once the trade is open, Stop-Loss is calculated and set for the remaining of the trade ||| 2) Dynamic – At trade open, Stop-Loss is calculated and set the same way, however once 1st Take-Profit is taken > Stop-Loss is moved to Entry, reducing the risk.
>>>>> # of TPs (number of take profit targets): Just like it is named, this is where you select the number of Take-Profit targets for your trading system (NOTE: If "OCA (no TP or SL)" Trading System is selected, this setting won’t do anything, since there are no TP or SLs for that system).
>>>>> TP(s) offset: This is a special feature for all Take-Profit targets, where you can turn on a customizable offset, so that if the price is almost hitting the Take-Profit target, but never actually touches it > you will capture it. This is good to use with HHLL (Highest High Lowest Low), which is pretty much a Support/Resistance as often the price will nearly touch these strong areas and turn around…
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Signal Analysis and Cleanup Settings
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>>>>> Candle Analysis | Candle Color signal confirmation: If closed candle bar color does not match the signal direction > no trade will be open.
>>>>> Candle Analysis | Skip opposite candle signals: If closed candle bar color will match the signal direction, but candle structure will be opposite (for example: bearish green hammer, long high stick on top of a small green square) > no trade will be open.
>>>>> Candle Analysis | Skip doji candle signals: If closed candle bar will be the uncertain doji > no trade will be open.
>>>>> Divergence/Oscillator Analysis | EWO (Elliot Wave Oscillator) signal confirmation: LONG will only be open if at signal, EWO is green or will be at bullish slope (you can select which setting you desire), SHORT if EWO is red or will be at bearish slope.
>>>>> Divergence/Oscillator Analysis | VWAP signal confirmation: LONG will only be open if at signal, the price will be above VWAP, SHORT if below.
>>>>> Divergence/Oscillator Analysis | Moving Average signal confirmation: LONG will only be open if at signal, the price will be above selected Moving Average, SHORT if below.
>>>>> Divergence/Oscillator Analysis | ATR signal confirmation: LONG will only be open if at signal, the price will be above ATR, SHORT if below.
>>>>> Divergence/Oscillator Analysis | RSI + MACD signal confirmation: LONG will only be open if at signal, RSI + MACD will be bullish, SHORT if RSI + MACD will be bearish.
>>>>> Volume signal confirmation: LONG/SHORT will only be opened with strong Volume matching the signal direction, by default, strong Volume percentage is set to 150% and weak to 50%, but you can change it as you desire.
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TP System - VERY IMPORTANT INFO!
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"TP PERCENTAGE" - amount by which current trade/position needs to be reduced/partially closed/sold.
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TP System: Dynamic
"TP PERCENTAGE" - will always be the same amount (trade/position size divided by the # of take-profit(TP) targets) and percentage to be closed will always be of the ORIGINAL trade/position.
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TP System: Static
"TP PERCENTAGE" - will always be the same amount IF take-profit(TP) targets are hit 1-by-1 (TP1 > TP2 > TP3 > TP4 > TP5), otherwise it will vary and unless it is a 1st take-profit(TP1), the REMAINING trade/position size will always be smaller than original and therefore the percentage to be closed will always be of the REMAINING trade/position and NOT the original one!
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"TP PERCENTAGE" CheatSheet (these are the only percentages you may see)
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TP PERCENTAGE---Close/Sell Amount-------------Example (trade size: 50 stocks)
20%-------------trade size * 0.2--------------50 * 0.2 = 10 stocks
25%-------------trade size * 0.25-------------50 * 0.25 = 12.5(~13) stocks
34%-------------trade size * 0.34-------------50 * 0.34 = 17 stocks
40%-------------trade size * 0.4--------------50 * 0.4 = 20 stocks
50%-------------trade size * 0.5--------------50 * 0.5 = 25 stocks
60%-------------trade size * 0.6--------------50 * 0.6 = 30 stocks
66%-------------trade size * 0.66-------------50 * 0.66 = 33 stocks
75%-------------trade size * 0.75-------------50 * 0.75 = 37.5(~38) stocks
80%-------------trade size * 0.8--------------50 * 0.8 = 40 stocks
100%------------trade size--------------------50 = 50 stocks
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If for any reason a portion of the current/remaining trade closed at such occurrence was slightly wrong, it is not an issue. Such occurrences are rare and with slight difference in partial TP closed is not significant to overall performance of our algorithms.
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Alert Settings (you don’t have to touch this section unless you will be using TradingView alerts through a Webhook to use with trading bot)
---------------------------------------------------------------------------
Here is how a LONG OPEN alert looks like.
NOTE: Each label , , etc. is customizable, you can change the text of it within indicator Input settings.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: OPEN
ENTRY: 20000
TP1: 20500
TP2: 21000
TP3: 21500
TP4: 22500
TP5: 23500
SL: 19000
Leverage: 0
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Here is how a TP1 alert will look with 5 TPs breakdown of the trade.
NOTE1: Next to TP1 taken it will show at which price it was triggered.
NOTE2: Next to "TP Percentage" it shows how much of the CURRENT/ACTIVE/REMAINING trade needs to be closed.
NOTE2: If TP2/3/4/5 comes before TP1 - the alert will tell you exactly how many percent of the trade needs to be closed!
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: TP1
TP1: 20500
TP Percentage: 20%
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Here is how an alert will look for LONG - STOP-LOSS.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
ENTRY: 20000
LONG: SL
SL: 19000
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Here is how an alert will look for LONG - EOD (End of Day) In Profit close.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: EOD-Close (profit)
ENTRY: 20000
EOD-Close: 21900
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Adding Alerts in TradngView
---------------------------------------------------------------------------
-Add indicator to chart and make sure it is configured (check back-testing results)
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Select this indicator by it’s name
-Alert name: Whatever you want
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
===========================================================================
If you have any questions or issues with the indicator, please message me directly via TradingView.
---------------------------------------------------------------------------
Good Luck! (NOTE: Trading is very risky, past performance is not necessarily indicative of future results, so please trade responsibly!)
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NOTE: There seems to be a strange glitch when strategy is running live, it will show "double-take" take-profits labels on the chart. This is not affecting the script logic and backtesting results, if you will remove/re-add the script afterwards, it will no longer show the duplicate orders... this must be some sort of a glitch as every alert was thoroughly tested to make sure everything is working!
[Volume Profile] Signal Clean Up Analysis with Backtest (TSO) This is a full-cycle trading system indicator, which uses Volume Profile for generating signals using a custom developed algorithm, TP (Take Profit) and SL (Stop Loss) levels. There are 2 SOURCES for signals (each can be used separately or both can be used at the same time, each signal SOURCE is using Volume Profile levels to open optimal trade direction) with chained (NOTE: You can select several or ALL of the features, this is not limited to either one) signal cleanup and analysis approach with scheduling and alerting capabilities. Works with most popular timeframes: 1M, 5M, 15M, 1H, 4H, D, great for intraday trading!
NOTE: Every calculation is done on a confirmed closed candle bar state, so the indicator will never repaint!
===========================================================================
Explanation of all the Features | Configuration Guide | Indicator Settings | Signal Cleanup Analysis
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>>> Customizable Backtesting for a specific date range, results via TradingView strategy, which includes “Deep Backtesting” for largest amounts of data on trading results.
>>> Trading Schedule with customizable trading daily time range, automatic closing/alert trades before Power Hour or right before market closes or leave it open until next day.
>>> 3 Trading Systems.
>>> Multiple Signal SOURCEs for opening trades, either SOURCE can be used or both at the same time!
>>> Static/Dynamic Stop-Loss setups (HIGHLIGHT: Stop-Loss will be moved to Entry after TP1 is taken, which minimizes risk).
>>> Single or Multiple profit targets (up to 3).
>>> Take-Profit customizable offset feature (set your Take-Profit targets slightly before everyone is expecting it!).
>>> Candle bar signal analysis (matching candle color, skip opposite structured and/or doji candle uncertain signals).
>>> Additional analysis of VWAP/EMA/ATR/EWO (Elliot Wave Oscillator)/Divergence MACD+RSI/Volume signal confirmation (clean up your chart with indicator showing only the best potential signals!).
>>> Advanced Alerts setup, which can be potentially setup with a trading bot over TradingView Webhook (NOTE: This will require advanced programming knowledge).
===========================================================================
Labels, plots, colors explanations:
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>>>>> Signal SOURCE(s): Green/Red arrows, which will be shown unconditionally, outside of trade engine and can be hidden if desired.
>>>>> LONG open: green "house" looking arrow below candle bar.
>>>>> SHORT open: red "house" looking arrow above candle bar.
>>>>> LONG/SHORT take-profit target: green/red circles (multi-profit > TP2/3/4/5 smaller circles).
>>>>> LONG/SHORT take-profit hits: green/red diamonds.
>>>>> LONG/SHORT stop-loss target: green/red + crosses.
>>>>> LONG/SHORT stop-loss hits: green/red X-crosses.
>>>>> LONG/SHORT EOD close (profitable trade): green/red squares.
>>>>> LONG/SHORT EOD close (loss trade): green/red PLUS(+)-crosses.
===========================================================================
Date Range and Trading Schedule Settings
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>>>>> Date Range: Select your start and/or end dates (uncheck “End” for indicator to show results up to the very moment and to use for LIVE trading) for backtesting results, if not using backtesting – uncheck “Start”/“End” to turn it off.
>>>>> Use TradingView “Strategy Tester” to see backtesting results
NOTE: If Strategy Tester does not show any results with Date Ranged fully unchecked, there may be an issue where a script opens a trade, but there is not enough TradingView power to set the Take-Profit and Stop-Loss and somehow an open trade gets stuck and never closes, so there are “no trades present”. In such case you will need to manually check “Start”/“End” dates or use “Depp Backtesting” feature!
>>>>> Trading Schedule: This is where you can setup Intraday Session or any custom session schedule you wish. Turn it ON. Select trading hours. Select EOD (End of Day) setting (NOTE: If it will be OFF, the indicator will assume you are holding your position open until next day!).
>>> Trading Systems: 1) "Open Until Closed by TP or SL": the signal will only open a trade if no trades are currently open/trunning, a trade can only be closed by Take Profit, Stop Loss or End of Day close (if turned on) | 2) "Open Until Closed by TP or SL + OCA": Same as 1), but if there is an opposite signal to the trade which is currently open > it will immediately be closed with new trade open or End of Day close (if turned on) | 3) "OCA (no TP or SL)": There are is Take Profit or Stop Loss, only an opposite signal will close current trade and open an opposite one or End of Day close (if turned on)
>>>>> MULTIPROFIT | TP (Take-Profit) System: Once the trade is open, all Take-Profit target(s) are immediately calculated and set for the trade > once the target(s) is hit > trade will be partially closed (if candle bar closes beyond several Take-Profit targets > trade will be reduced accordingly to the amount of how many Take-Profit targets were hit)
>>>>> MULTIPROFIT | SL (Stop-Loss) System: 1) Static – Once the trade is open, Stop-Loss is calculated and set for the remaining of the trade ||| 2) Dynamic – At trade open, Stop-Loss is calculated and set the same way, however once 1st Take-Profit is taken > Stop-Loss is moved to Entry, reducing the risk.
>>>>> # of TPs (number of take profit targets): Just like it is named, this is where you select the number of Take-Profit targets for your trading system (NOTE: If "OCA (no TP or SL)" Trading System is selected, this setting won’t do anything, since there are no TP or SLs for that system).
>>>>> TP(s) offset: This is a special feature for all Take-Profit targets, where you can turn on a customizable offset, so that if the price is almost hitting the Take-Profit target, but never actually touches it > you will capture it. This is good to use with HHLL (Highest High Lowest Low), which is pretty much a Support/Resistance as often the price will nearly touch these strong areas and turn around…
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Take-Profit and Stop-Loss visual example:
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1) A simply nice intraday trading day for SPY (S&P500 ETF TRUST) with a single Take-Profit target on each trade.
See how Take-Profit distances increase with price momentum and how Stop-Loss is following the trade reducing the risk!
2) Same intraday trading day for SPY (S&P500 ETF TRUST) with 3 Take-Profit targets with static Stop-Loss.
3) Same intraday trading day for SPY (S&P500 ETF TRUST) with 3 Take-Profit targets with dynamic Stop-Loss.
You can see how Stop-Loss was moved once TP1 is taken!
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Trade Analysis and Cleanup Settings
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>>>>> Candle Analysis | Candle Color signal confirmation: If closed candle bar color does not match the signal direction > no trade will be open.
>>>>> Candle Analysis | Skip opposite candle signals: If closed candle bar color will match the signal direction, but candle structure will be opposite (for example: bearish green hammer, long high stick on top of a small green square) > no trade will be open.
>>>>> Candle Analysis | Skip doji candle signals: If closed candle bar will be the uncertain doji > no trade will be open.
>>>>> Divergence/Oscillator Analysis | EWO (Elliot Wave Oscillator) signal confirmation: LONG will only be open if at signal, EWO is green or will be at bullish slope (you can select which setting you desire), SHORT if EWO is red or will be at bearish slope.
>>>>> Divergence/Oscillator Analysis | VWAP signal confirmation: LONG will only be open if at signal, the price will be above VWAP, SHORT if below.
>>>>> Divergence/Oscillator Analysis | Moving Average signal confirmation: LONG will only be open if at signal, the price will be above selected Moving Average, SHORT if below.
>>>>> Divergence/Oscillator Analysis | ATR signal confirmation: LONG will only be open if at signal, the price will be above ATR, SHORT if below.
>>>>> Divergence/Oscillator Analysis | RSI + MACD signal confirmation: LONG will only be open if at signal, RSI + MACD will be bullish, SHORT if RSI + MACD will be bearish.
>>>>> Volume signal confirmation: LONG/SHORT will only be open if closing candle volume is 150% above average Volume based on the Volume Length.
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Alert Settings (you don’t have to touch this section unless you will be using TradingView alerts through a Webhook to use with trading bot)
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Here is how a LONG OPEN alert looks like (each label is customizable + I can add up more items/labels if needed):
COIN: BTCUSD
TIMEFRAME: 15M
LONG: OPEN
ENTRY: 20000
TP1: 20500
TP2: 21000
TP3: 21500
SL: 19000
Leverage: 0
===========================================================================
Adding Alerts in TradngView
---------------------------------------------------------------------------
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Select this indicator by it’s name
-Alert name: Whatever you want
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
===========================================================================
If you have any questions or issues with the indicator, please message me directly via TradingView.
---------------------------------------------------------------------------
Good Luck! (NOTE: Trading is very risky, past performance is not necessarily indicative of future results, so please trade responsibly!)
[SMA Cross + HHLL] Signal Clean Up Analysis with Backtest (TSO) This is a DEMO indicator with a simple 2 SMAs cross for signals + HHLL for TP/SL. It mainly demonstrates chained (NOTE: You can select several or ALL of the features, this is not limited to either one) signal cleanup and analysis approach with scheduling and alerting capabilities. Works with most popular timeframes: 1M, 5M, 15M, 1H, 4H, D.
===========================================================================
Here are some pre-set examples with nice Backtesting results (try em out!):
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>>> Indexes – SPY (INTRADAY SETUP ): Timeframe: 5M | Trading Schedule: ON, 10:00-15:45 ET, EOD: At Market Close | Trading System: Open Until Closed by TP or SL | MULTIPROFIT: TP (take profit) System: Dynamic | MULTIPROFIT: SL (stop loss) System (This is only for “Dynamic” TP System ONLY!!!): Dynamic | # of TPs: 5 | Skip opposite candle types in signals, which are opposite to direction of candle color (for example: bearish green hammer) | Everything else: Default
>>> Bitcoin – BTCUSD (24/7 SETUP): Timeframe: 1H | Trading Schedule: OFF, End of Day (EOD): OFF | Trading System: Open Until Closed by TP or SL | MULTIPROFIT: TP (take profit) System: Dynamic | MULTIPROFIT: SL (stop loss) System (This is only for “Dynamic” TP System ONLY!!!): Dynamic | # of TPs: 3 | TP(s) Offset: on, TP(s) offset amount: 50 | ATR confirmation | Everything else: Default
===========================================================================
Explanation of all the Features | Configuration Guide | Indicator Settings
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Signal cleanup analysis:
---------------------------------------------------------------------------
>>> Customizable Backtesting for a specific date range, results via TradingView strategy, which includes “Deep Backtesting” for largest amounts of data on trading results.
>>> Trading Schedule with customizable trading daily time range, automatic closing/alert trades before Power Hour or right before market closes or leave it open until next day.
>>> 3 Trading Systems.
>>> Static/Dynamic Take-Profit setups (HILIGHT: momentum catch dynamic Take-Profit approach).
>>> Static/Dynamic Stop-Loss setups (HIGHLIGHT: smart trailing Stop-Loss which minimizes risk).
>>> Single or Multiple profit targets (up to 5).
>>> Take-Profit customizable offset feature (set your Take-Profit targets slightly before everyone is expecting it!).
>>> Candle bar signal analysis (skip opposite structured and/or doji candle uncertain signals).
>>> Additional analysis of VWAP/EMA/ATR/EWO (Elliot Wave Oscillator)/Divergence MACD+RSI signal confirmation (clean up your chart with indicator showing only the best potential signals!).
>>> Advanced Alerts setup, which can be potentially setup with a trading bot over TradingView Webhook (NOTE: This will require advanced programming knowledge).
>>> Customize your signal SOURCE and your Take-Profit/Stop-Loss SOURCES as you desire.
===========================================================================
Labels, plots, colors explanations:
---------------------------------------------------------------------------
>>>>> Signal SOURCE: SMA crossings (green and red BIG circles) .
>>>>> Take-profit/Stop-loss SOURCE: HHLL (Highest High Lowest Low) .
>>>>> LONG open: green arrow below candle bar.
>>>>> SHORT open: red arrow above candle bar.
>>>>> LONG/SHORT take-profit target: green/red circles (multi-profit > TP2/3/4/5 smaller circles).
>>>>> LONG/SHORT take-profit hits: green/red diamonds.
>>>>> LONG/SHORT stop-loss target: green/red + crosses.
>>>>> LONG/SHORT stop-loss hits: green/red X-crosses.
>>>>> LONG/SHORT EOD close (profitable trade): green/red squares.
>>>>> LONG/SHORT EOD close (loss trade): green/red PLUS(+)-crosses.
===========================================================================
Date Range and Trading Schedule Settings
---------------------------------------------------------------------------
>>>>> Date Range: Select your start and/or end dates (uncheck “End” for indicator to show results up to the very moment and to use for LIVE trading) for backtesting results, if not using backtesting – uncheck “Start”/“End” to turn it off.
---------------------------------------------------------------------------
>>>>> Use TradingView “Strategy Tester” to see backtesting results
---------------------------------------------------------------------------
NOTE: If Strategy Tester does not show any results with Date Ranged fully unchecked, there may be an issue where a script opens a trade, but there is not enough TradingView power to set the Take-Profit and Stop-Loss and somehow an open trade gets stuck and never closes, so there are “no trades present”. In such case you will need to manually check “Start”/“End” dates or use “Depp Backtesting” feature!
---------------------------------------------------------------------------
>>>>> Trading Schedule: This is where you can setup Intraday Session or any custom session schedule you wish. Turn it ON. Select trading hours. Select EOD (End of Day) setting (NOTE: If it will be OFF, the indicator will assume you are holding your position open until next day!).
>>>>> Trading System: 1) Open Until Closed by TP or SL – once the trade is open, it can only be closed by Take-Profit, Stop-Loss or at EOD (if turned on) ||| 2) OCA – Opposite Trade will Open Closing Current Trade – Same as 1), except that when and if an OPPOSITE signal is received > indicator will close current trade immediately (profit or loss) and open a new one(NOTE: This will only happen with an OPPOSITE direction trade!) ||| 3) Open Until Opposite Signal or EOD (if turned on) – This approach is the simplest one, there are no Take-Profits or Stop-Losses, the trade is open until an OPPOSITE signal is received or until EOD (if turned on).
Take-Profit, Stop-Loss and Multi-Profit Settings
>>>>> MULTIPROFIT | TP (Take-Profit) System: 1) Static – Once the trade is open, all Take-Profit target(s) are immediately calculated and set for the trade > once the target(s) is hit > trade will be partially closed (if candle bar closes beyond several Take-Profit targets > trade will be reduced accordingly to the amount of how many Take-Profit targets were hit) ||| 2) Dynamic – Once the trade is open, only the 1st Take-Profit target is calculated, once the 1st Take-Profit is hit > next Take-Profit distance is calculated based on the distance from trade Entry to where 1st Take-Profit was taken, once 2nd Take-Profit is taken > 3rd Take-Profit is calculated per same logic, these are good for price momentum as with price speeding up – profits increase as well!
NOTE: Below 2 settings, each correspond to only 1 setting of the TP (Take-Profit) System, please pay attention to the above TP system setting before changing SL settings!
>>>>> MULTIPROFIT | SL (Stop-Loss) System : 1) Static – Once the trade is open, Stop-Loss is calculated and set for the remaining of the trade ||| 2) Dynamic – At trade open, Stop-Loss is calculated and set the same way, however once 1st Take-Profit is taken > Stop-Loss is moved to Entry, reducing the risk.
>>>>> MULTIPROFIT | SL (Stop-Loss) System : 1) Static - Once the trade is open, Stop-Loss is calculated and set for the remaining of the trade ||| 2) Dynamic – At trade open, Stop-Loss is calculated and set the same way, however with each Take-Profit taken, Stop-Loss will be moved to previous Take-Profit (TP1 taken > SL:Entry | TP2 taken > SL:TP1 | TP3 taken > SL:TP2 | TP4 taken > SL:TP3 | TP5 taken > trade closed), this is basically a smart Stop-Loss trailing system!
>>>>> # of TPs (number of take profit targets): Just like it is named, this is where you select the number of Take-Profit targets for your trading system (NOTE: If “3) Open Until Opposite Signal or EOD (if turned on)” Trading System is selected, this setting won’t do anything, since there are no TP or SLs for that system).
>>>>> TP(s) offset: This is a special feature for all Take-Profit targets, where you can turn on a customizable offset, so that if the price is almost hitting the Take-Profit target, but never actually touches it > you will capture it. This is good to use with HHLL (Highest High Lowest Low), which is pretty much a Support/Resistance as often the price will nearly touch these strong areas and turn around…
---------------------------------------------------------------------------
Dynamic/Static Take-Profit and Stop-Loss visual examples:
1) Fully Dynamic Take-Profit and Stop-Loss setup for BTCUSD
See how Take-Profit distances increase with price momentum and how Stop-Loss is following the trade reducing the risk!
2) Static/Dynamic, Static Take-Profit and Dynamic Stop-Loss setup for SPY (S&P500 ETF TRUST)
You can see a static Take-Profit set at position open, while Stop-Loss is semi-dynamic adjusting to Entry once TP1 target is taken!
3) Fully Static Take-Profit and Stop-Loss setup for SPY (S&P500 ETF TRUST)
This one is a fully static setup for both Take-Profit and Stop-Loss, you can also observe how trade is closed right before the Power Hour (trade can be closed right before Power Hour or right before Market Closes or left overnight as you desire).
---------------------------------------------------------------------------
Trade Analysis and Cleanup Settings
>>>>> Candle Analysis | Candle Color signal confirmation: If closed candle bar color does not match the signal direction > no trade will be open.
>>>>> Candle Analysis | Skip opposite candle signals: If closed candle bar color will match the signal direction, but candle structure will be opposite (for example: bearish green hammer, long high stick on top of a small green square) > no trade will be open.
>>>>> Candle Analysis | Skip doji candle signals: If closed candle bar will be the uncertain doji > no trade will be open.
>>>>> Divergence/Oscillator Analysis | EWO (Elliot Wave Oscillator) signal confirmation: LONG will only be open if at signal, EWO is green or will be at bullish slope (you can select which setting you desire), SHORT if EWO is red or will be at bearish slope.
>>>>> Divergence/Oscillator Analysis | VWAP signal confirmation: LONG will only be open if at signal, the price will be above VWAP, SHORT if below.
>>>>> Divergence/Oscillator Analysis | Moving Average signal confirmation: LONG will only be open if at signal, the price will be above selected Moving Average, SHORT if below.
>>>>> Divergence/Oscillator Analysis | ATR signal confirmation: LONG will only be open if at signal, the price will be above ATR, SHORT if below.
>>>>> Divergence/Oscillator Analysis | RSI + MACD signal confirmation: LONG will only be open if at signal, RSI + MACD will be bullish, SHORT if RSI + MACD will be bearish.
===========================================================================
Alert Settings (you don’t have to touch this section unless you will be using TradingView alerts through a Webhook to use with trading bot)
---------------------------------------------------------------------------
Here is how a LONG OPEN alert looks like (each label is customizable + I can add up more items/labels if needed):
COIN: BTCUSD
TIMEFRAME: 15M
LONG: OPEN
ENTRY: 20000
TP1: 20500
TP2: 21000
TP3: 21500
SL: 19000
Leverage: 0
===========================================================================
Trade Open Signal SOURCE + Take-Profit/Stop-Loss SOURCE
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>>> Customize your signal SOURCE, Take-Profit and Stop-Loss SOURCE as desired (NOTE: These are pre-configured and should be usable on majority of markets, however feel free to play around with these settings as there is nearly an infinite amount of setups out there!
===========================================================================
Adding Alerts in TradngView
---------------------------------------------------------------------------
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Select this indicator by it’s name
-Alert name: Whatever you want
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
===========================================================================
If you have any questions or issues with the indicator, please message me directly via TradingView.
---------------------------------------------------------------------------
Good Luck! (NOTE: Trading is very risky, so please trade responsibly!)
Ultimate Ichimoku Cloud StrategyThe goal of this strategy script is to provide the ultimate experience to anyone interested in the Ichimoku Kinkō Hyō (Ichimoku Cloud). The script is designed to be highly customizable and allows the user to set a custom trade date range and select any combination of inputs and conditions that satisfy their goals. Additionally, the script allows the user to visually see any combination of their set conditions by clicking the " Show Conditions Visually " checkbox. Doing so will color the background in a different color where the conditions align. Finally, a simple Stop/Take profit is added for those that wish to exit based on percentages over Ichimoku conditions.
As always, please let me know if there are any bugs, something useful that could be added or if you need some help. Leave a like if you wish!
(IK) Base Break BuyThis strategy first calculates areas of support (bases), and then enters trades if that support is broken. The idea is to profit off of retracement. Dollar-cost-averaging safety orders are key here. This strategy takes into account a .1% commission, and tests are done with an initial capital of 100.00 USD. This only goes long.
The strategy is highly customizable. I've set the default values to suit ETH/USD 15m. If you're trading this on another ticker or timeframe, make sure to play around with the settings. There is an explanation of each input in the script comments. I found this to be profitable across most 'common sense' values for settings, but tweaking led to some pretty promising results. I leaned more towards high risk/high trade volume.
Always remember though: historical performance is no guarantee of future behavior . Keep settings within your personal risk tolerance, even if it promises better profit. Anyone can write a 100% profitable script if they assume price always eventually goes up.
Check the script comments for more details, but, briefly, you can customize:
-How many bases to keep track of at once
-How those bases are calculated
-What defines a 'base break'
-Order amounts
-Safety order count
-Stop loss
Here's the basic algorithm:
-Identify support.
--Have previous candles found bottoms in the same area of the current candle bottom?
--Is this support unique enough from other areas of support?
-Determine if support is broken.
--Has the price crossed under support quickly and with certainty?
-Enter trade with a percentage of initial capital.
-Execute safety orders if price continues to drop.
-Exit trade at profit target or stop loss.
Take profit is dynamic and calculated on order entry. The bigger the 'break', the higher your take profit percentage. This target percentage is based on average position size, so as safety orders are filled, and average position size comes down, the target profit becomes easier to reach.
Stop loss can be calculated one of two ways, either a static level based on initial entry, or a dynamic level based on average position size. If you use the latter (default), be aware, your real losses will be greater than your stated stop loss percentage . For example:
-stop loss = 15%, capital = 100.00, safety order threshold = 10%
-you buy $50 worth of shares at $1 - price average is $1
-you safety $25 worth of shares at $0.9 - price average is $0.966
-you safety $25 worth of shares at $0.8. - price average is $0.925
-you get stopped out at 0.925 * (1-.15) = $0.78625, and you're left with $78.62.
This is a realized loss of ~21.4% with a stop loss set to 15%. The larger your safety order threshold, the larger your real loss in comparison to your stop loss percentage, and vice versa.
Indicator plots show the calculated bases in white. The closest base below price is yellow. If that base is broken, it turns purple. Once a trade is entered, profit target is shown in silver and stop loss in red.
