PROTECTED SOURCE SCRIPT

Algoman Backtest V1 (PAC)

Updated
The Algoman Backtest V1 (PAC) version of our Backtesting System™ product is an innovative strategy script that allows users to create a wide variety of strategies derived from price action-related concepts for a data-driven approach to discretionary trading strategies.

Thanks to our 'Step' and 'Match' algorithm, users can create custom and complex strategy entries and exits from features such as market structure, order blocks, imbalances, as well as any external indicators, allowing users to create entries from a sequence of conditions and/or multiple matching conditions.

We included a complete alert system that will send a notification for each action taken by the strategy and we also allow users to set custom messages for each action taken by a strategy.

🔶 Features

🔹Step & Match Algorithm

More complex entry rules can be created by using multiple conditions together, this is done thanks to the Step dropdown setting on the right of each condition.

The Step setting is directly related to the Step & Match algorithm and works in two ways:


When two or more conditions have the same step number, both conditions are evaluated. Used to test matching conditions.
When two or more conditions have different step numbers, each condition will be evaluated in order, testing for the first step and switching to the next step once the previous one is true. When the final step is true the strategy will open a market order. Used to create a sequence of conditions.

This operation is complementary, as you can create a sequence of conditions with one step consisting of two or more matching conditions as long as they have the same step number.

🔹Fully Customizable Price Action Concepts As Entries

We allow the users to use market structures, order blocks, imbalances, and external sources together to set their custom entry and exit conditions.

Market structures are commonly used to determine trend direction by indicating when prices break prior swing points. Their occurrence can be used as entry conditions.

Order blocks highlight areas where institutional market participants open positions, one can use order blocks to determine confirmation entries or potential targets as we can expect there is a large amount of liquidity at these order blocks. Price entering, being within, or mitigating an order block can be used as an entry condition.

Market imbalances highlight areas where there is a disparity between supply and demand. Price entering, being within, or mitigating an imbalance can be used as an entry condition.

This system also allows the use of external sources to create entry and exit conditions, such as moving averages, bands, trailing stops...etc.

🔹Complete Alert System

Users can get alerted for any action executed by a strategy, from opening positions to closing them.

The message field in the Alert Messages setting section allows for the strategy to send a custom alert message depending on the action taken by the strategy, if no messages are set the strategy will send default messages.
Release Notes
- Added forecast method for setting take profits. This method will use user set percentiles of forecasts as take profits levels
- Forecasts data tracking will now ignore exits in a strategy.
- Fixed "Invalidate" steps throwing error when set for long conditions
- New trade based price forecasting feature
-Fixed session condition not working for short conditions
-Fixed previous take profit/stop loss values being returned on a new entry alert message
-Fixed wrong messages being returned in certain actions taken by the strategy
Release Notes
Stoploss group
Fixed stoploss % checkbox - If choosed: stoploss will be calculated manually depending on the setting below(formula: entry_price * (1 - stoploss percent)) If NOT choosed: stoploss will be (formula: fibonacci level(0.786/0.236) * (1 + stoploss percent))
RSI
Responsible for configuring the built-in RSI. Suitable bars will be highlighted with crosses above or below, depending on overbought/oversold
Sensitive
Responsible for the time period in bars to create Fibonacci levels
algomanconceptmultitimeframeVolume

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This script is published closed-source and you may privately use it freely.

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