View a video tutorial on how to use this indicator at the link above. Have Fun !
Release Notes
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Removed security function since it is currently bugged and might trigger false signals. Does not impact the strategy. Script is now overlay: you might need to set visual order to "Front" to see the candles color. I will update this when it is possible to code visual order in pinescript.
New optionnal feature: Integrated Stop Loss System
New optionnal feature: Re-Entry Points
Note: All those are optional and deactivated by default. Go into the indicator input parameters to activate them. Note to users of last version: If you created alerts, then don't worry, they will stay intact. If you want to use the new features then you have to re-create the alerts.
I think it's great what you are doing, but I find a simple VWEMA strategy is working better. I love your charts, but can't get consistently great results. Nott bad, not great. I see some negative months with my script too.
That said, for folks who don't have scripts handy, this could be worth it. Not any worse than other scripts I've seen.
What's even better is to find free scripts and tweak them as needed. See tutorials out there on youtube.
Blessings!
cyatophilum
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Dear @BradFranklin000,
I don't think this is the kind of comment you should be leaving when you've only been using the script for a few hours. It's a bot, not every trade will be positive.
My scripts are based on average profit per trade, so give it more time.
I doubt a simple VWEMA is working better. Did you backtest it?
Anyway, thanks for your time.
BradFranklin000
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@cyatophilum, I absolutely backtested it over many different time periods. You never know what season the market will enter next, so it's smart not to "overtune" your bots. I didn't mean to dis your script at all. I said I have negative months too! It's been a couple of weeks so I can't recall what exactly I was seeing. I'll look again and bounce back when I can.
Keep up the great work, helping retail traders become market makers!
That said, for folks who don't have scripts handy, this could be worth it. Not any worse than other scripts I've seen.
What's even better is to find free scripts and tweak them as needed. See tutorials out there on youtube.
Blessings!