Project18

THE PHOENIX v0.2 wSMD

This is my first publication, since sept 2018 i tested/converted to strategy over 500 scripts, this is by far my most profitable script.

Implementation in TradingView of modified version of the "Weis Wave".

indicatior will generate Long and Close Long signals according to market trend.
(Learned the hard way that using short instead of close long to close long orders will seriously mess backtest results and create unrealistic expectations)

Added a customizable RATE OF CHANGE indicator that I called SMD (sideways market detection) to try and avoid trading on sideways market.

References: "Trades About To Happen" David H. Weis, Division 2 of the Richard D. Wyckoff Method of Trading in Stocks.

I've had best results on 2h and 4h charts, I would not recommend to go below 1h, my general rule is to run the backtest on regular candle and make sure the backtest gives goodd result, but I use the script with autoview on heikin ashi.

Backtesting: You can change the dates of the backtest as you please, the backtest runs with 1000USD and 100% of equity orders, 3 ticks slippage and 0.1% commission.

For Autoview users: Will upload LONG ALERT and CLOSE LONG ALERT studies separately as I find it easier to see whats going on on 2 seperate indicators.

NO, IT DOES NOT REPAINT.
Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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Comments

wow, amazing work! :)
Possible to have access please?
Reply
@cptpat, Hey ! sorry for delay, access granted on both alert scripts. let me know what you think. Cheers
Reply
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