It has ***NO REPAINTING*** - as such the algorithm had to change to remove it’s reliance on HMAs from future timeframes to establish trend, this is now accomplished with EMAs.
It is completely written in Pinescript v4.
It has integrated Stoploss and you can plot this & with the recommended Entry on the chart.
WARNING - This strategy has to be “tuned” to the instrument you are trading, for example, Bitcoin . The default settings work well for BTC/USD, XBT/USD on 15m chart timeframe but not for ETH/USD - it is possible the default settings will work with other crypto’s but I haven’t had time to test - if you find good settings PLEASE share them!
How to use:
1) Load up your favourite chart/instrument and select your favourite timeframe
2) Adjust the “signal” and “baseline” settings until you get the majority of uptrending moves highlighted with a green background and the majority of downtrending moves with a red background. The signal has to be faster (that is a lower number) than the baseline.
3) Adjust the “Sensitivity” - this will plot more green & orange Trigger points on the chart.
The strategy waits until in a trend, for example, a Long (green background) then waits for first green cross before opening a deal. It will Trigger a sell if the background turns red (downtrend) and a orange cross is printed.
4) Fine tuning:
A) Increase your profits by changing the Stoploss value - getting this right protects you from bad trades but also resets the indicator to provide another alert faster
B) You can increase the delay positions are opened or closed with the “Bar(s) offset to open position” and “Bar(s) offset to close position” settings. When you adjust these, 0 will buy/sell immediately when a Trigger cross is printed, 2 will wait until 2 bars/candles AFTER the Trigger cross prints to strat/close a position.
TIP: When adjusting indicator settings, load your chart and timeframe first.
Add the indicator/strategy (if you haven’t already).
Click the Strategy Tester tab at the bottom of the chart window so it is visible.
Open the strategy/indicator settings so you can see this wind AND the Strategy Tester display
Change a setting and click into a different setting input box, this will update the test results WITHOUT closing the settings window! This will save you a lot of time!
Write down any OK settings you find, you can come back later to fine tune them!
Please provide any feedback & let’s share the best settings for different crypto’s!
1) Optimised underlying code
2) Make stoploss better
3) Optimise for Bitmex
4) Enable Trailing Take Profit (turn on/off, set % to trail)
Please comment below with any feedback, all is welcomed.
**** XBTUSD Bitmex chart and 15m timeframe is best suited with default settings! ****