This indicator was created after EmperorBTC's conditions. Good timeframes for it: 30', 15', 5' To convert from strategy to study switch the commented lines in the beginning and at the end of the script and vice versa.
What this indicator does is to check if: o Pivot Point was crossed o Stoch-RSI and VWAP were crossed in current or previous candle o Candle (or previous candle) close is in the trend direction If all these are true then it will go long or short based on direction.
Signals are not reliable without volumes confirmation, many false ones could be easly filtered. Any reason why you haven't improved the code with volumes confirmation?
Terminathor
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@Mass1q, how to filter if the signal candle is not backed up by lots of volume in the trade direction ?
Mass1q
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@Terminathor, Hi at the moment I added CVD volume confirmation, in a specific range if in the signal direction I confirm it, otherwise I discard it as false. It works a lot better, the author I guess is not developing the code and moved to python coding
anton25g
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Awesome code, works well on 1h timeframe, there is 1 problem for the tp triggered only after candle close instead of when reaching tp level right away, can you help me fix it ?
vaidab
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@anton25g this is how it should work. It also doesn't repaint as part of the sauce and it depends if you're running it as a strategy or as an indicator. I won't modify it, I've switched to python coding for strategies. But you are free to do it. Also, as far as I know this code worked flawlessly and with thousands of trades done by multiple traders (no bugs).
Zahid95581
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Hi, does this re-paints?
vaidab
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No repainting.
Adri13009
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Just found this out, I am a big fan of Emperor BTC. Looked at the indicator on the drop today and the short calls were awesome. It seems that the trades must be taken with the short term bias that PA shows.
I still have a few questions about all the elements in the chart. I saw the short close but not the SL on the longs, for example this morning there was a long at 4:30 (+1) and then a short (-2) at 6 AM. Does the -2 means the long was closed on the short and another short of the same amount was taken ?
Also, are the green / red lines the pivot points ? (red = support and green = resistance) ?
Still a bit of a newbie on tradingview indicators !
Thanks a lot for your work
MyBots
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From November until today, the strategy has lost half of my deposit on BTCUSDT 5min. Are there any successful tickers?
vaidab
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Most strategies do that if you take them automatically, unfortunately the market adapts to them and that's why most bots don't actually work. You'd need to have one strategy for an uptrend, another one from a downtrend, another one for volatility, etc. The strategy this code was based on works well on BTCUSDT 5' but not by itself. You need to understand Volume Price Action and know where the weekly and daily levels are, where the orders are in the orderbook. If you don't use all this info then you don't see what the price is screaming to you.
Regarding losing money, any strategy needs to be backtested until you have at least 30 trades on your belt, then forward tested for another 30 trades and only if those trades showed a positive income you begin testing it with a very small amount of money (#nofinancialadvice). If that works, you start increasing the amount.
If you didn't do that, I'm sorry but you need to learn a bit more risk management.