Bitcoin Scalping Strategy (Sampled with: PMARP+MADRID MA RIBBON)

Aug 5, 2022

DISCLAIMER:
THE CONTENT WITHIN THIS STRATEGY IS CREATED FROM TWO INDICATORS CREATED BY TWO PINESCRIPTER'S. THE STRATEGY WAS EXECUTED BY MYSELF AND REVERSE-ENGINEERED TO MEET THE CONDITIONS OF THE INTENDED STRATEGY REQUESTOR. I DO NOT TAKE CREDIT FOR THE CONTENT WITHIN THE ESTABLISHED LINES MADE CLEAR BY MYSELF.

The Sampled Scripts and creators:
PMAR/PMARP by The_Caretaker Link to original script:

Madrid MA RIBBON BAR by Madrid Link to original script:

Cheat Code's strategy notes:

This sampled strategy (Requested by @elemy_eth) is one combining previously created studies. I reverse-engineered the local scope for the Madrid moving average color plots and set entry and exit conditions for certain criteria met. This strategy is meant to deliver an extremely high hit rate on a daily time frame. This is made possible because of the very low take profit percentage, during the context of a macro downtrend it is made easier to hit 1-3% scalps which is made visible with the strategy using sampled scripts I created here.

How it works:
Entry Conditions:
-Enter Long's if the lime color conditions are met true using the script detailed by Marid's MA
- No re-entry into positions needs to be met true (this prevents pyramiding of orders due to conditions being met true) applicable to both long and short side entries.
- To increase hit rate and prevent traps both the parameters of rsi being sub 80 and no previously engulfing candles need to be met true to enter a long position.
- Enter Short's if the red color conditions of Madrid's moving average are met true.
- Closing Long positions are typically not met within this indicator, however, it still sometimes triggers if necessary. This consists of a pmarp sub 99 and a position size greater than 0.0
- Closing Short positions are typically not met within this indicator, however, it still sometimes triggers if necessary. This consists of a pmarp over 01 and a position size less than 0.0
- Stop Loss: 27.75% Take Profit: 1% (Which does not trigger on ticks over 1% so you will see average trade profits greater than 1%)

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Best Of Luck :)
-CheatCode1

Aug 8, 2022

Release Notes

Added Horizontal Line's within the PMARP and a fill with options of the line's values and the transparency in between them. Both of these settings are adjustable in the input and style tabs. Thanks for the Boosts you guys, More is otw!! :) BTCUSDT