This strategy uses RSI as a long entry and up to 3 EMAs to confirm an uptrend.
The most interesting part of this script is its risk management features: - trailing stop loss - trailing take profit with "waiting zone": this is to prevent the TTP to take profit below the specified TP%
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- improving color coding
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Support for external signal. You can now use any external indicator that plots a 1 for BUY to start a deal in the strategy. Using this bypasses the RSI/EMA internal strategy allowing you to backtest any signal using trailing TP and SL based on ATR levels.
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This one is a big update!
1) You can now select the ATR timeframe independently from the chart timeframe. This is very useful if you want to rely on higher timeframes to set your trailing TP and SL levels. 2) RSI and EMAs now support selection of timeframe. Before only RSI was allowing it. 3) Say hello to "strict mode" for TP and/or SL. When enabled it won't allow the TP or the SL to reduce the value. It becomes increasing value. This enables the "traditional trailing" that everybody knows. 4) Static SL percentage mode. This mode allows you to specify a fixed SL percentage and fully disables the trailing SL. 5) "no loss" mode. This mode will disable any type of stop loss that triggers below the entry price. Stop loss will only be respected if the deal is in green (this happens when the SL follows the price going up). 6) Do you like RSI EMA deal start condition but prefer to backtest it with DCA? no problemo señor! you can now use this code as an input to Gavin's backtest script: thetradingparrot.com/knowledge-base/rsi-ema-signal-pine-script 7) Improved tooltips and each SL mode uses different colors to make sure you always know what you are doing :P
Enjoy!
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- small colouring changes - we no longer display the EMAs in external indicator mode (they are not used in that mode anyways)
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Introducing "date deals": you pick the date and time of up to 3 deals. The strategy will open the deals accordingly and simulate the outcomes. As requested by you guys! ❤️🦜
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- Support for short mode (beta support, please report any potential issues on our discord channel #ttp-pinescripts - Solve some accuracy issues in long mode
The whole script needed to be re written to support short mode so be careful and let's test it a few days to confirm it's all working as expected.
RSI-EMA internal deal start condition strategy improvements - RSI and EMA timeframe independent toggles - RSI limit replaced with a range (top and bottom limit)
(New) RSI-SuperTrent internal deal start condition strategy - 3 SuperTrend with independent parameters, timeframes and toggles - Option to use alternative symbol to calculate the SuperTrend - Option to trade "against" the trend (inverse SuperTrend values). This option is ideal for trading a 3XDOWN token and follow the inverse trend of NASDAQ, SP500 or other equities if there's correlation or inverse correlation. - plots of each individual SuperTrend active
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New cool features that we needed 🚀🦜👀
- New mode: external signal + SuperTrend filters. Use any external signal as deal start condition and filter it with the powerful ST+ADX. - SuperTrend filters now include ADX filters to also filter by the strength of the trend. - Each ADX filter has its independent threshold values for ultimate control - Time window form parameters cosmetic improvements - SuperTrend plot improvements - In the release v0.3 it didn't actually include the trade against the trend of the SuperTrend symbol, sorry! but its available in this version 0.4
Enjoy!
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Fixed: RSI deal start condition was not triggering in short mode
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New 3C alert settings! now it's much easier to create alerts for multiple pairs thanks to this new mode. No need to add a separated 3commas webhook json for each pair when setting up composite DCA bots. Now you can just add the bot id, the email token and the pattern of the tokens used ONCE per composite bot.
Examples: If you use the pattern "1_2" you will get BTC_USDT. If you use the pattern "1PERP_2" you will get BTCPERP_USDT.
Hint: enable the debug mode to see in the chart the actual JSON that will be used and confirm it looks fine including the pattern.
We normally use secure.security function to prevent repainting. The problem is that even though this solves repainting issues it comes with the compromise of delaying signals unnecessarily when doing only backtesting. Now we introduce the "indicator mode" toggle which allows you to decide between "backtesting" and "signal" modes. Use signal mode for sending real-time signals to your bots and backtesting for backtesting only. If you backtest using signal mode some signals might appear later than in real time. You can learn more details here: tradingview.com/pine-script-docs/en/v5/concepts/Repainting.html
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Hive exit Exit deals that are still in profit right before they are about to go into the red. Featuring hive exits now TTPTSL allows you to close deals based on hive divergence count. In most setups this offers increased PNL and lower drawdowns. Try the hive cooldown: do not enter any deal when there's hive signal and wait longer when the number of divergences were higher. 🦜😍🚀
indicator mode This new selector at the top of the settings offers two modes: signal and backtesting. Signal reduces the chances of repainting. Backtesting mode offers the best accuracy on historical data. Pick your poison!
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v0.5 brings a lot of goodies! RSI-EMAs and RSI-Supertrends now become a single internal strategy that allows you to use all together. So you can now use any combination of 1 RSI - 3 EMAs - 3STs - 3ADX - 1 hive You can use EMAs to filter the long term trend while using STs for shorter timeframe trading: reduce drawdowns to a minumum. You can also use them together with an external signal. Hive exit now brings timeframe selector.
And now I'm sending signals from this to BAQL:SIG:FFALL which you can test on paper trading. Stay tuned for an article on that 😏🦜
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3C alerts mode pattern now uses "QUOTE" and "BASE" instead of "1" and "2". Instead of using "1_2" to produce "USDT_BTC" now you must use "QUOTE_BASE" to produce the same outcome. We are changing this to prevent issues affecting pairs that include numbers (1 or 2). Future pairs that include expiration dates are an example of them. Remember to always activate "debug" mode to confirm your patterns are properly setup and remember you need to be using version v0.5.1 to be able to use this fix.
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Introducing the "RSI timer". Allows you to find the conditions to start a trading season which expires after a given number of candles. This new area of TTPTSL is so powerful that allows you to make incredible trades even "against the trend".
I'm editing a new a video sharing a strategy including all the settings to enter longs in the bear market. It makes 240% in total trading BTCUP with a drawdown of only 10% it's just mind blowing 🦜🚀
Hive label was moved to the top of the chart to make it easier to see.
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In this new version 0.5.4 you can use the RSI timer to trigger a new "season of trades" not only when there's a percentage reduction in RSI value, but now also when there's a percentage increase. This is very useful for when you want to use that "season" to short the asset. Just as an example: now you can set the RSI timer to trigger when the RSI daily has increased over 25% and allow trades for 300 candles taking short positions whenever the 1 hour RSI is above 70.
Below the RSI timer settings you can now find reduction and increase settings.
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EMA filter has been updated. As requested you can now specify the length of each individual EMA.
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Added support for break even. Video for all members coming later today 🦜