I would like to point out the indicator that I have backtested:
"Trend Surfers, Breakout".
This is pretty brilliant, shout out to whoever wrote the script.
Basically, it covers breakouts, both up and down - and once price breaks out of this previous high, it will call out a buy signal (Long), or (Short) for downward movement. The regular settings are good enough for an average user... But I wanted to reset the settings for a beginner, someone that didn''t know too much about Price Movements, Technical Analysis, Moving averages etc.
So, imagine you are new to BTC, and did not know when to buy or sell. This script with these settings seems pretty solid if you ask me.
*Note - I purposely did NOT include any short signals, although they work too. It gets too confusing to look at, so I kept it bullish only.
I found by tweaking the settings, this will work all the way back to the beginning. We start around $7 for the long, which ran up to $118, pretty sweet stop loss. Next price was just over $300, which sold at $548 (not very good here). But then, we get in at $330 - and the Long Stop (the Sell signal) just over $11,600. This would be one hell of a gain!
We then have a buy in at $6,600 after the March 2020 Crash, and we are still not done with this run yet. This could run up further, or trigger a stop coming up soon.
Overall, VERY GOOD script - I have tested on 1D and 1W and have come up with settings that work for both. Conservative, and riskier. This is just to show that it's possible thank you to the writer of this script.
Here are the settings if anyone wants them...
Settings for BTC 1W:
Highest High: 30
Lowest Low: 100 (gets rid of short signals)
Trailing ATR Period: 48 (Thick Green Line)
ATR Multiplier: 10 (Thick Green Line)
Fix ATR Period: 4 - (gets rid of short signals)
Fix ATR Multiplier: 1 - (gets rid of short signals)
"Trend Surfers, Breakout".
This is pretty brilliant, shout out to whoever wrote the script.
Basically, it covers breakouts, both up and down - and once price breaks out of this previous high, it will call out a buy signal (Long), or (Short) for downward movement. The regular settings are good enough for an average user... But I wanted to reset the settings for a beginner, someone that didn''t know too much about Price Movements, Technical Analysis, Moving averages etc.
So, imagine you are new to BTC, and did not know when to buy or sell. This script with these settings seems pretty solid if you ask me.
*Note - I purposely did NOT include any short signals, although they work too. It gets too confusing to look at, so I kept it bullish only.
I found by tweaking the settings, this will work all the way back to the beginning. We start around $7 for the long, which ran up to $118, pretty sweet stop loss. Next price was just over $300, which sold at $548 (not very good here). But then, we get in at $330 - and the Long Stop (the Sell signal) just over $11,600. This would be one hell of a gain!
We then have a buy in at $6,600 after the March 2020 Crash, and we are still not done with this run yet. This could run up further, or trigger a stop coming up soon.
Overall, VERY GOOD script - I have tested on 1D and 1W and have come up with settings that work for both. Conservative, and riskier. This is just to show that it's possible thank you to the writer of this script.
Here are the settings if anyone wants them...
Settings for BTC 1W:
Highest High: 30
Lowest Low: 100 (gets rid of short signals)
Trailing ATR Period: 48 (Thick Green Line)
ATR Multiplier: 10 (Thick Green Line)
Fix ATR Period: 4 - (gets rid of short signals)
Fix ATR Multiplier: 1 - (gets rid of short signals)