Strategy Premise
Mean is the say last 10 days, would sum up the closing price of the stock in each of the 10 days. The sum total would then be divided by the number of days to get the arithmetic mean. And Recursion is a process in which a function calls itself a subroutine. This allows the function to be repeated several times
Envelopes are technical indicators that are typically plotted over a price chart with upper and lower bounds. The most common example of an envelope is a moving average envelope, which is created using two moving averages that define upper and lower price range levels.
Strategy Logic
Long Entry: When Price touches the lower band, Send LE.
Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and Price touches Upper band send LX and SE
Short Entry: When Price touches the Upper band, Send SE
Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and Price touches lower band send SX and LE
Mean Recursion Envelop Strategy Parameters for TradingView Charts
Length(Mandatory): This is the number of bars used to calculated Ex: 14 à previous 14 candles are used.
Calibration Factor: calibration or response factor represents the slope of the line between the response for a given standard and the origin
Quantity: This is used to specify the trade quantity
Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit
Custom Target in Points: Movement in chart price against the momentum which will trigger exit
Setting Up Alert
Before setting up an alert make sure that You have selected the desired script, timeframe, strategy settings, API bridge is configured and running. Click in settings add alert and paste {{strategy.order.comment}} in message box.
Important: do not change any settings during live trading.
Mean is the say last 10 days, would sum up the closing price of the stock in each of the 10 days. The sum total would then be divided by the number of days to get the arithmetic mean. And Recursion is a process in which a function calls itself a subroutine. This allows the function to be repeated several times
Envelopes are technical indicators that are typically plotted over a price chart with upper and lower bounds. The most common example of an envelope is a moving average envelope, which is created using two moving averages that define upper and lower price range levels.
Strategy Logic
Long Entry: When Price touches the lower band, Send LE.
Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and Price touches Upper band send LX and SE
Short Entry: When Price touches the Upper band, Send SE
Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and Price touches lower band send SX and LE
Mean Recursion Envelop Strategy Parameters for TradingView Charts
Length(Mandatory): This is the number of bars used to calculated Ex: 14 à previous 14 candles are used.
Calibration Factor: calibration or response factor represents the slope of the line between the response for a given standard and the origin
Quantity: This is used to specify the trade quantity
Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit
Custom Target in Points: Movement in chart price against the momentum which will trigger exit
Setting Up Alert
Before setting up an alert make sure that You have selected the desired script, timeframe, strategy settings, API bridge is configured and running. Click in settings add alert and paste {{strategy.order.comment}} in message box.
Important: do not change any settings during live trading.