TradingWhale Strategy:
- This strategy allows you to receive buy and sell signals from other indicators on the same chart window.
- You can use this strategy instantly with our OMEGA indicator. To do so:
(1) select 'Plot OMEGA Signals' at the bottom of the OMEGA indicator settings and
(2) in the settings of this strategy select 'TW-OMEGA: OMEGA Signals' as the data source
- You can also use other indicators you create yourself to send buy/sell signals. All you need to do is plot a +1 or -1 for buy and sell signals in your indicator and use the plot as a data source in this indicator.
>>>>>>>> Strategy Settings <<<<<<<<<
- Data Source
- Trading Directions
- Market Volatility Adjustments with ATR and VIX
- Stop-Loss settings
- Take Profit settings
>>>>>>>> Example for sending signals <<<<<<<<<
signal = 'long condition' ? 1 : 'short condition' ? -1 : 0
plot(signal, title="signal name", color=color(#ffffff00)) //no color
---------------------------------
Example Strategy with excellent long-term backtesting results:
1. In the strategy select 'TW-OMEGA: 💰OMEGA Signals' as the Source. The OMEGA indicator needs to be on the same chart.
2. Chart on 90m time frame
3. All OMEGA indicator signals enabled
4. Values for the 'Adaptive Divergence Signals - Inputs' in the OMEGA indicator as follows:
(Lookback: 6) / (MA1: 5) / (Signal: 9)
To reduce capital requirements and reduce fees it is assumed here to buy MES (e-micro futures contracts) instead of SPY etf. We are not making a recommendation. It's just what was assumed for the fee calculation in the strategy.
Let us know if you have found better results with other settings or for other symbols. Happy Trading from your TradingWhale Team.
---------------------------------
Disclaimers:
- Past performance is not indicative of future performance
- We are not providing trading advice, but exclusively trading tools and education
- This strategy allows you to receive buy and sell signals from other indicators on the same chart window.
- You can use this strategy instantly with our OMEGA indicator. To do so:
(1) select 'Plot OMEGA Signals' at the bottom of the OMEGA indicator settings and
(2) in the settings of this strategy select 'TW-OMEGA: OMEGA Signals' as the data source
- You can also use other indicators you create yourself to send buy/sell signals. All you need to do is plot a +1 or -1 for buy and sell signals in your indicator and use the plot as a data source in this indicator.
>>>>>>>> Strategy Settings <<<<<<<<<
- Data Source
- Trading Directions
- Market Volatility Adjustments with ATR and VIX
- Stop-Loss settings
- Take Profit settings
>>>>>>>> Example for sending signals <<<<<<<<<
signal = 'long condition' ? 1 : 'short condition' ? -1 : 0
plot(signal, title="signal name", color=color(#ffffff00)) //no color
---------------------------------
Example Strategy with excellent long-term backtesting results:
1. In the strategy select 'TW-OMEGA: 💰OMEGA Signals' as the Source. The OMEGA indicator needs to be on the same chart.
2. Chart on 90m time frame
3. All OMEGA indicator signals enabled
4. Values for the 'Adaptive Divergence Signals - Inputs' in the OMEGA indicator as follows:
(Lookback: 6) / (MA1: 5) / (Signal: 9)
To reduce capital requirements and reduce fees it is assumed here to buy MES (e-micro futures contracts) instead of SPY etf. We are not making a recommendation. It's just what was assumed for the fee calculation in the strategy.
Let us know if you have found better results with other settings or for other symbols. Happy Trading from your TradingWhale Team.
---------------------------------
Disclaimers:
- Past performance is not indicative of future performance
- We are not providing trading advice, but exclusively trading tools and education
Release Notes:
- added option to select whether to use ATR to limit long entries and VIX to limit short entries.
- Settings clean-up
- Settings clean-up
Release Notes:
several improvements
TradingWhale 'invite-only' indicator, signal and strategy scripts are available on www.tradingwhale.io. We offer a 7-day free trial on all subscriptions.