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My version of ChopBot
ChopBot v1.0
with a little of Gen Opt.

Seems to be good for direction spotting during sideways and uptrend. Works only on 4h HA candles.

Remove from Favorite Scripts Add to Favorite Scripts
strategy("BotBot", overlay=false)
atr = atr(19)
avg = sma(close,19)
rangeup = low[1] + atr
rangedown = high[1] - atr
over() => close/avg > 1.001 and high/rangeup > 1.04 and close/open > 1.001
under() => close/avg < 0.999 and low/rangedown < 0.96 and close/open < 0.999

longCondition = over()
shortCondition = under()

plot(close/avg, "close/avg", red)
plot(high/rangeup, "high/rangeup", blue)
plot(close/open, "close/open", green)

strategy.entry("long", strategy.long, when=longCondition)
strategy.entry("short", strategy.short, when=shortCondition)
over() => close/avg > 1.001 and high/rangeup > 1.04 and close/open > 1.001
under() => close/avg < 0.999 and low/rangedown < 0.96 and close/open < 0.999

change to

over() => close/avg > 1.002 and high/rangeup > 1.04 and close/open > 1.002
under() => close/avg < 0.998 and low/rangedown < 0.96 and close/open < 0.998
some formatting issues on TV. Change 1.001 to 1.002 and 0.999 to 0.998 to achieve more profitability
Back testing is very different VS live , but look good, What is the theory
+1 Reply
lines 3-6: RangeUp and RangeDown variables are conservative estimates of potential upside or downside, calculated as lowest/highest price +/- Average True Range (ATR).
lines 7-8: Buy/Sell conditions. Estimation of buy/sell momentum, values are derived by simple genetic optimization in matlab

I think the strategy could be improved in many ways
I found out this script works well in conjunction with RSI Algotrader
RSI Algo Trader
for mutual confirmations
+1 Reply
Hi! Interesting!
But Signals buy/short do not appear in my chart.
Could you help me please?
Uhmmm... Maybe should be able to change period of atr and sma. 19 is too long?
Thank u!
hi, it only works on 4hours Heikin Ashi chart
Faccia amazing_ilya
Ciao, yeah I found it.
Could you change on 15 minutes chart? It would be great
Thank you !
I don't think it will be useful on 15 min timeframe. You might want to try original ChopBot script or other strategies, e.g. ANN strategy is also good (and it also used genetic optimization, as far as I understtod from its description).
cristian.d amazing_ilya
My understanding was that Heikin Ashi strategies repaint, I mean 80% and 16 PF is just out of this world, too good to be true... isn't it?
amazing_ilya cristian.d
yes, sure. It's just to help spot current trend and it was just optimized for backtesting results. Future results could not be so good :)
zelibobla PRO amazing_ilya
Not so good?! :) It could be disaster. Add «REPAINTS» in the name of strategy please, to save the time for those who looking for strategy in «Strategies» section.
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