This is a optimizing tool for the Candle Patterns strategy. (Candle Patterns -Starbots)
![Candle Patterns [Starbots]](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
This script will help you find a profitable candlestick pattern and profit / loss targets for your market fast and efficiently.
Optimizer will test around 100 candle stick combinations with 3 TP / 3 SL targets and show you the most profitable combinations in the table and sort them by the best to worst in net profit. You can then apply it to the strategy (Candle Patterns) and try it. This tool is helping you to search parameters automatically so you don't have to do it on your own.
Optimizer is testing every candlestick pattern with every possible combination if the Take Profit is 1% for example, Stop Loss 2%. Next, it tests how this candlestick pattern is working if Take Profit is 1% and Stop Loss target is 3% and so on. You can select 3 Take Profit targets for testing and 3 Stop Loss targets it will test every candlestick pattern with every take profit / stop loss target and show the net profit. You want to be looking for high net profit result and try it on your strategy. You can also add fees in calculation.
I suggest that you try top10 profitable combinations from the table and look for the lowest 'Max Drawdown' results or the best looking 'Equity' curve on the strategy backtest once you find profitable parameters.
This backtesting code is accurate on low timeframes (<1h) and big market cap assets. On the higher timeframes and volatile markets this optimizer becomes less accurate if the TP and SL targets are hit on the same bar. It's recommended to target wide/larger TP-SL targets on higher timeframes to avoid this.
Candlestick codes are taken and edited from the official Tradingview Technical Indicators. I provide some information about them in tooltips, but you can always visit Tradingview Help Center and read about each candlestick pattern there to understand it better - www.tradingview.com/...andlestick-patterns/
If you have a suggestion to add more candlestick patterns, please PM me.
![Candle Patterns [Starbots]](https://s3.tradingview.com/f/fU8wyJ4p_big.png)
This script will help you find a profitable candlestick pattern and profit / loss targets for your market fast and efficiently.
Optimizer will test around 100 candle stick combinations with 3 TP / 3 SL targets and show you the most profitable combinations in the table and sort them by the best to worst in net profit. You can then apply it to the strategy (Candle Patterns) and try it. This tool is helping you to search parameters automatically so you don't have to do it on your own.
Optimizer is testing every candlestick pattern with every possible combination if the Take Profit is 1% for example, Stop Loss 2%. Next, it tests how this candlestick pattern is working if Take Profit is 1% and Stop Loss target is 3% and so on. You can select 3 Take Profit targets for testing and 3 Stop Loss targets it will test every candlestick pattern with every take profit / stop loss target and show the net profit. You want to be looking for high net profit result and try it on your strategy. You can also add fees in calculation.
I suggest that you try top10 profitable combinations from the table and look for the lowest 'Max Drawdown' results or the best looking 'Equity' curve on the strategy backtest once you find profitable parameters.
This backtesting code is accurate on low timeframes (<1h) and big market cap assets. On the higher timeframes and volatile markets this optimizer becomes less accurate if the TP and SL targets are hit on the same bar. It's recommended to target wide/larger TP-SL targets on higher timeframes to avoid this.
Candlestick codes are taken and edited from the official Tradingview Technical Indicators. I provide some information about them in tooltips, but you can always visit Tradingview Help Center and read about each candlestick pattern there to understand it better - www.tradingview.com/...andlestick-patterns/
If you have a suggestion to add more candlestick patterns, please PM me.
Private strategies and Signaler. www.star-bots.com