Get started

Candlestick analysis

50 Pips A Day Strategy - Kaspricci50 Pips A Day Strategy This strategy is designed to work on 1 hour timeframe. It is designed to capture the early market move of major forex pairs like EURUSD or GBPUSD. It takes the high and low of the first candle (7 a.m. GMT, London Stock Exchange opens) and places to pending orders at these prices levels. High + additional gap in pips = buy stop pending order Low + additional gap in pips = sell stop pending order For both orders a stop loss of 15 pips and a take profit of 50 pips is used as a default. As soon as price triggers one pending order, the remaining pending order is cancelled. At the end of the configured session time all open and pending orders are closed / cancelled. Settings Trading Time - start and end time of session. It is configured for Monday to Friday only. At the beginning the first candle is used to define stop prices for pending orders. Source for Buy Stop order - Default: high. Used to calculate buy stop order. You can add additional pips as a gap. Source for Sell Stop order - Default: low. Used to calculate sell stop order. You can add additional pips as a gap. Stop Loss in Pips - Default: 15. Used for both pending orders. Take Profit in Pips - Default: 50. Used for both pending orders. This strategy is for educational purposes only! It is not meant to be a financial recommendation.
Pine Script® strategy
by Best-Algo-Trader
8
Sine Wave TheoryThere are some ideas out there that the market is like a collection of quantum events and that it could all be broken down into sine waves. I created this script to put that to the test. The idea is simple, I tested 3 different factors that could be put into sine wave form. 1.) Bar Change 2.) Volume Average Change 3.) Coin Flip For the bar change, I simply allow the sine wave to move upwards or downwards if the bars have changed color in their sequence. For example, if there were 3 red bars and 1 green bar, it would not move the sine wave up or down until the green bar appeared. For the average volume change, it was the same idea, except that the sine wave could only move up or down if the volume had moved up or below the average value of the length given for calculating the average volume. Finally, the coin flip simply simulates flipping a coin, and allows the sine wave to move one direction or the other once it has a side that is different from the previous chosen side. For example, heads, heads, heads, tails (once it flipped to tails, this would allow it to move a direction). The sine wave trading theory that I watched claimed that if you know the correct sine wave # (which is how large the peak is, and/or the sine wave count which is how many peaks and valleys occur) that you can successfully predict future trades. Their claims that the reason it does not look like a perfect sine wave for these events is because there is different amounts of trading going on, thus the timing will be slightly off. I am posting this to disagree with their ideas. For example, if you select to turn on trading for coin flip and turn off bar change, you will see the coin flip did better on the default settings! It just so happens that any setting will eventually be good, making all the sine wave variations just completely random if you win or not. I posted this to demonstrate how silly trading sine waves is. The real trick is using cosine and tangent waves... lol j/k I hope this helps someone avoid this scam concept.
Pine Script® strategy
by Gentleman-Goat
7
Trend Follower Intraday [ Adjustable TF ]Trend Follower Intraday for 3 minute Time-Frame (Adjustable) , that has the time condition for Indian Markets as well. Unlike the Free Scripts - Risk Management , Position Sizing , Partial Exit etc. are also included . Send us a Message to know more about the strategy. // ══════════════════════════════════════════════════════════════════════════ // The Timing can be changed to fit other markets, scroll down to "TIME CONDITION" to know more. The commission is also included in the strategy . The basic idea is when , 1) EMA1 crosses above EMA2 , is a Long condition . 2) EMA1 crosses below EMA2 , is a Short condition . 3) Green Section indicates Long position. 4) Red Section indicates Short position. 5) Allowed hours specifies the trade entry timing. 6) ATR STOP is the stop-loss value on chart , can be adjusted in INPUTS. 7) Target 1 is the 1st target value on chart , can be adjusted in INPUTS. 8) RISK is Maximum Risk per trade for the intraday trade can be changed . 9) Total Capital used can be adjusted under INPUTS. 10) ATR TRAIL is used for trailing after entry, as mentioned in the inputs below. 11) Check trades under the list of trades . 12) Trade only in liquid stocks . 13) Risk only 1-5% of total capital. 14) Inputs can be changed for better back-test results, but also manually check the trades before setting alerts 15) SQUARE OFF TIME - As you change the time frame , also change the square-off time to the candle's closing time. Eg: For 3min Time-frame , Hour = 2Hrs | Minute = 57min 16) Strategy stops for the day if you have a loss . 17) COMMISSION value is set to 20Rs and SLIPPAGE value is set to 2 . Go to properties to change it . *The input values and the results are mentioned under "BACKTEST RESULTS" below* // ══════════════════════════════ // // ————————> RISK MANAGEMENT <——————— // // ══════════════════════════════ // Risk management is done based on max loss per trade and can be adjusted in the INPUTS. // ═══════════════════════════ // // ————————> POSITION SIZE <——————— // // ═══════════════════════════ // Quantity of each trade is different based on the loss // ═════════════════════════ // // ————————> PROPERTIES <——————— // // ═════════════════════════ // COMMISSION , SLIPPAGE ,RECALCULATE is already mentioned in the code. COMMISSION can be charges , based on the broker charges. // ═══════════════════════════════// // ————————> TIME CONDITION <————————— // // ═══════════════════════════════// The time can be changed in the INPUT. The Indian Markets open at 9:15am and closes at 3:30pm. The 'Allowed hours' under Inputs specifies the time at which Entries should happen . "Close All" function closes all the trades before 3pm , at the open of the next candle. To change the time to close all trades , check INPUT. All open trades get closed by 3pm , because some brokers don't allow you to place fresh intraday orders after 3pm . // ═══════════════════════════════════════════════ // // ————————> BACKTEST RESULTS ( 123 CLOSED TRADES ) <————————— // // ═══════════════════════════════════════════════ // INPUTS can be changed for better Back-Test results. The strategy applied to NSE:JSWENERGY (3 min Time-Frame and with a capital of 3,00,000 ) gives us 81% profitability , as shown below It was tested for a period a 6 months with a Profit Factor of 1.957 ,net Profit of 43,000Rs . Sharpe Ratio = 0.745 Sortino Ratio = 2.091 No strategy in the world promises 100% profits in all market conditions , so always define your risk before trading. Also check Back-Test results manually ,before setting Alerts The Graph has a Linear Curve with Consistent Profits. The INPUTS are as follows, 1) EMA1 ————————————————> 38 2) EMA2 ————————————————> 118 3) ALLOWED HRS ———————————> 9:35 TO 14:30 4) ATR STOP ——————————————> 3.2 5) RISK ——————————————————> 3000 6) ATR TRAIL ———————————————> 2.6 7) TARGET 1 ————————————————> 2.4 8) MAX POSITION VALUE ——————————> 3,00,000 8) MAX DRAWDOWN —————————————> 9,000 8) SQUARE-OFF ————————————————> 14:57 NSE:JSWENERGY Apply it to your charts Now ! NSE:JSWENERGY Send us a message for FREE TRIALS | Instant Access Thank You ☺
Pine Script® strategy
by The_Algo_Engineer
3
CONSOLIDATION BAND BREAKOUT [5MIN TF]CONSOLIDTION BREAKOUT STRATEGY for 5 minute Time-Frame , that has the time condition adjustable for Indian Markets. // ══════════════════════════════════════════════════════════════════════════ // Unlike the Free Scripts - Risk Management , Position Sizing , Partial Exit etc. are also included . Message to know more about the strategy. // ══════════════════════════════════════════════════════════════════════════ // The Timing can be changed to fit other markets, scroll down to "TIME CONDITION" to know more. The commission is also included in the strategy . The basic idea is when , 1) Price crosses above upper Level ,indicated by Red Line, is a Long condition . 2) Price crosses below lower Level ,indicated by Green Line , is a Short condition . 3) Candle close crosses above ema1 , is a part of the Long condition . 4) Candle close crosses below ema1 , is a part of the Short condition . 5) Allowed hours specifies the trade entry timing. 6) ATR STOP is the stop-loss value on chart , can be adjusted in INPUTS. 7) Target 1 is the 1st target value on chart , can be adjusted in INPUTS. 8) RISK is Maximum Risk per trade for the intraday trade can be changed . 9) Total Capital used can be adjusted under INPUTS. 10) ATR TRAIL is used for trailing after entry, as mentioned in the inputs below. 11) Check trades under the list of trades . 12) Trade only in liquid stocks . 13) Risk only 1-5% of total capital. 14) Inputs can be changed for better back-test results, but also manually check the trades before setting alerts 15) SQUARE OFF TIME - As you change the time frame , also change the square-off time to that candle's closing time. Eg: For 3min Time-frame , Hour = 2Hrs | Minute = 57min 16) Strategy stops for the day if you have a loss . *The input values and the results are mentioned under "BACKTEST RESULTS" below* // ══════════════════════════════ // // ————————> RISK MANAGEMENT <——————— // // ══════════════════════════════ // Risk management is done based on max loss per trade and can be adjusted in the INPUTS. // ═══════════════════════════ // // ————————> POSITION SIZE <——————— // // ═══════════════════════════ // Quantity of each trade is different based on the loss // ═════════════════════════ // // ————————> PROPERTIES <——————— // // ═════════════════════════ // COMMISSION , SLIPPAGE ,RECALCULATE is already mentioned . COMMISSION can be charges , based on the broker charges. // ═══════════════════════════════// // ————————> TIME CONDITION <————————— // // ═══════════════════════════════// The time can be changed in the INPUT. The Indian Markets open at 9:15am and closes at 3:30pm. The 'Allowed hours' under Inputs specifies the time at which Entries should happen . "Close All" function closes all the trades before 3pm , at the open of the next candle. To change the time to close all trades , check INPUT. All open trades get closed at 3pm , because some brokers don't allow you to place fresh intraday orders after 3pm . // ═══════════════════════════════════════════════ // // ————————> BACKTEST RESULTS ( 123 CLOSED TRADES )<————————— // // ═══════════════════════════════════════════════ // INPUTS can be changed for better Back-Test results. The strategy applied to NSE:TCS (5 min Time-Frame and with a capital of 1,00,000 ) gives us 77% profitability , as shown below It was tested for a period a 1 year with a Profit Factor of 2.143 ,net Profit of 10,886 Rs . The Initial Capital and Risk can be increased for better results. The graph has a Linear Curve with Consistent Profits. The INPUTS are as follows, 1) LENGTH ——————————————> 79 2) MUT_STDEV ————————————> 2.3 3) ALLOWED HRS ———————————> 9:25 TO 14:30 4) ATR STOP ——————————————> 2.2 5) RISK ——————————————————> 400 6) ATR TRAIL ———————————————> 2.6 7) TARGET 1 ————————————————> 2.1 8) MAX POSITION VALUE ——————————> 1,00,000 8) MAX DRAWDOWN —————————————> 2,000 8) SQUARE-OFF ————————————————> 14:55 NSE:TCS Apply it to your charts Now !! Send us a message to know more about this strategy Thank You ☺ NSE:TCS
Pine Script® strategy
by The_Algo_Engineer
5
Open High Low StrategyThis is a very simple, yet effective and to some extend widely followed scalping strategy to capture the underling sentiments of the counter whether it will go up or down. What is it? This is Open-High-Low (OLH) strategy. As you already aware of Candlestick patterns, there is patterns called as Marubozu patterns where the sell wick or buy wick either ceases to exists (or very small). This is exactly in the same principle. In OLH strategy: The buy signal appears when the Open Price is the Low Price. It means if you draw the candlestick, there is no bottom wick. So after the opening of the candle, the demand drives the price up to the level, some selling may or may not come and closes in green. This indicates a strong upward biasness of the underlying counter. Similarly, a sell signal appears when the Open price is the High Price. It means there is no upper wick. So there is no buying pressure, since the opening of the candle, sellers are in force and pulls down the price to a closing. This strategy generates the signal at the close of the candle (technically barstate.isconfirmed). Because until the bar is real-time there is no option to know the final closing or high. So you will see the bar on which it generates the buy or sell signal is actually indicates the previous bar as OLH bar. To determine the Stop-Loss, it uses the most widely known SL calculation of: For buy signal, it takes the low of the last 7 candles and substract the ATR (Average True Range) of 14-period. For sell signal, it takes the high of the last 7 candles and add it to the ATR (Average True Range) of 14-period. One can plot the SL lines as dotted green and red lines as well to see visually. Default Risk:Reward is 1:2, Can be customizable. What is Unique? Of course the utter simplistic nature of this strategy is it's key point. Very easy and intuitive to understand. There are awesome strategies in this forum that talks about the various indicators combinations and what not. Instead of all this, in a 15m NSE:NIFTY chart, it generates a good ~ 47% profit-factor with 1:2 Risk Reward ratio. Means if you loose a trade you will loose 1% of account and if you win you will gain 2%. Means 3 trades (2 profits and 1 loss) in a trading session result 3% overall gain for the day. (Assuming you are ready with 1% draw down of your account per trade, at max). Disclaimer: This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time. We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.
Pine Script® strategy
by pradipandsuvra
Trend Breakout high/low #1What is the Trend Breakout high/low #1? This script uses the high/low of each fixed time period as a conditional judgment, and when the high/low is broken as a buy/sell signal, trying to capture a trend. How to use this script? Start date and Stop date: You can choose the date of the test. Trading cycle: Selected time period is used as the basis for determining the high/low and is limited to one trade only. Stop range: This value will calculate the stop loss range. Set 50-100 that is better Fixed mode: Fixed of lots per transaction. ---Additional Functions--- Reversal mode: Reversing the buy and sell signals, may be useful in certain situations. Wighted mode: Increased profitability under certain conditions When win & When lose:Judgment when there is an ongoing loss/profit as a condition, may be useful in certain situations. Use closing price: Use the closing price breakout high/low as a conditional judgment, but this function sometimes fails. Notes: Trading cycle and your chart time period can't be set too close,that will result repainting. Stop range can't be set too small,that will result repainting either.
Pine Script® strategy
by zxcv55602
1
RSI with Slow and Fast MA Crossing Strategy (by Coinrule)This strategy utilises 3 different conditions that have to be met to buy and 1 condition to sell. This strategy works best on the ETH/USDT pair on the 4-hour timescale. In order for the strategy to enter the trade, it must meet all of the conditions listed below: ENTRY RSI increases by 5 RSI is lower than 70 MA9 crosses above MA50 To exit a trade, the below condition must be met: EXIT MA50 crosses above MA9 This strategy works well on LINK/USDT on the 1-day timeframe, MIOTA/USDT on the 2-hour timeframe, BTC/USDT on the 4-hour timeframe, and BEST/USDT on the 1-day timeframe (and 4h). Back-tested from 1 January 2020. The strategy assumes each order is using 30% of the available coins to make the results more realistic and to simulate you only ran this strategy on 30% of your holdings. A trading fee of 0.1% is also taken into account and is aligned to the base fee applied on Binance.
Pine Script® strategy
by Coinrule
3
Heiken Ashi & Super TrendThis is one of my open source 1h strategies It works on Binance: BTCUSDTPERP charts This strategy involves two indicators 1. Heiken Ashi - a typical technical indicator to help highlight and clarify the current trend. This somehow allows the chart to ignore unnecessary fluctuations and make the trend more visible. 2.Super Trend - - One of the most common ATR-based indicators, the SuperTrend indicator is useful to help you catch big trends. Buy entry conditions are as follows. 1. The Super Trend indicator running on the Heiken Ashi chart gives a buy signal. 2. Buy at the current market price and take profit at 1% of the normal k-line at this time. Take profit TP - 1% Stop Loss None
Pine Script® strategy
by RingsCherrY
10
How to use Leverage in PineScriptI believe there are many friends who have been confused by the leverage problem of TradingView strategy, when backtesting, it is always unable to bring its own leverage, so it is impossible to do leverage sustained compounding, this key point, and many friends are looking forward to solve. In particular, the default_qty_value = 100, where 100 is the upper limit. Here I have used the official RSI strategy for demonstration, using the qty to place orders. Through strategy.equity, leverage and close price, and rounding, directly calculate the specific number of contracts need to be opened. I hope you can enjoy solving the leverage problem, and I look forward to your pointing out my problems and shortcomings to me. Thank you.
Pine Script® strategy
by RingsCherrY
1
[Crypto] Supertrend - ADX - Reversal Candle* Commission: 0.06% = Binance future fee. 1. ADX INDICATOR: 1h & 4h timeframe have a strong strength for open trade. - ADX smoothing: 14. - DI length: 14. - ADX STRONG > 25. 2. SUPERTREND INDICATOR: - Long trend when closes candle is above the green line. - Short trend when closes candle is below the red line. 3. REVERSAL CANDLES DETECT: - Cancels the Short trend if occurs 5 bullish reversal candles. - Cancels the Long trend if occurs 5 bearish reversal candles. - Cancels the Short trend if occurs bullish Engulfing reversal candles. - Cancels the Long trend if occurs bearish Engulfing reversal candles. 4. OPEN POSITION RULE: - BUY/LONG: reject to Supertrend at current timeframe. - SELL/SHORT: reject to Supertrend at current timeframe. 5. Autotrade with Money management: requires Pro, Pro +, Premium Tradingview & Webhook service. 6. Winrate of 129 coin pairs of Binance future 7. DEEP BACKTEST: - BITCOIN ALL TIME HISTORY INDEX - ETHEREUM ALL TIME HISTORY INDEX - LITECOIN BINANCE FUTURE - BINANCE COIN BINANCE FUTURE - XRP BINANCE FUTURE
Pine Script® strategy
by dinhchien
2
V Bottom & V Top Pattern [Misu]█ This indicator shows V bottom & V top patterns as well as potential V bottom & V top. These V bottom & V top are chart powerful reversal patterns.  They appear in all markets and time-frames, but due to the nature of the aggressive moves that take place when a market reverses direction, it can be difficult to identify this pattern in real-time. To address this problem, I added potential V pattern as well as the confirmed one. █ Usages: You can use V top & V bottoms for reversal zones. You can use it for scalping strategies, as a main buy & sell signal. Potential V patterns can be used to anticipate the market, in addition to volatility or momentum indicators, for example. █ How it works? This indicator uses pivot points to determine potential V patterns and confirm them. Paramaters are available to filter breakouts of varying strengths.  Patterns also have a "max number bars" to be validated. █ Why a Strategy type indicator? Due to the many different parameters, this indicator is a strategy type.  This way you can overview the best settings depending on your pair & timeframe.  Parameters are available to filter. █ Parameters: Deviation: Parameter used to calculate parameters. Depth: Parameter used to calculate parameters. Confirmation Type: Type of signal used to confirme the pattern. > Mid Pivot: pattern will confirm on mid pivot breakout. > Opposit Pivot: pattern will confirm on opposit pivot breakout. > No confirmation: no confirmation. Lenght Avg Body: Lenght used to calculate the average body size. First Breakout Factor: This factor multiplied by the "body avg" filters out the non-significant breakout of potential V pattern. Confirmation Breakout Factor: This factor multiplied by the "body avg" filters out the non-significant breakout for the confirmation. Max Bars Confirmation: The maximum number of bars needed to validate the pattern.
Pine Script® strategy
by Fontiramisu
20
[Pt] TICK Supertrend Strategy, 5 minBackground: It is well known that the indices such as SPY and QQQ follow/represent market sentiment. The TICK index literally represents the market sentiment as it compares the number of stocks that are rising and falling on the NYSE. By default, the TICK index is a short term indicator. Therefore it isn't reliable for swing trading or long term strategies. However, it is perfect for scalping. Although TICK is well known, many does not know how to use it effectively. As part of the background mechanism of this script, I’ve divided TICK into 5 major zones based on the close of each candle: Overbought (neutral with bearish bias), Bullish, Neutral, Bearish, and Oversold (neutral with bullish bias). Along with the use of Heikin Ashi technique, RSI, moving averages and candle analysis, this strategy aims to provide accurate representation of market sentiment and profitable entry and exit points. *** At the time of publication, this strategy has proved to be consistently profitable. HOWEVER, this DOES NOT guarantee future profitability. So use at your own risk! *** What is it showing? This strategy is an intraday scalping strategy that uses TICK data to predict market directions for optimal entry and exit points. It is displayed similarly to the famous Supertrend indicator, which is one of the most common ATR based trailing stop indicators, so visually it is easy to read. This strategy is suitable for trading indices such as SPX , SPY , SPX500USD , QQQ , DJI and any other tickers that have high positive correlation with TICK. Script is proprietary, but as mentioned it incorporates the following elements with additional candlestick analysis, pattern recognition, stop-loss and profit taking strategy: - NYSE TICK data - Heikin Ashi candle technique - ATR - RSI - Moving Averages Bullish trend is determined by a confluence of said indicators and analyses, and is displayed as a green line under the price action. The distance is defined by an adjustable value that is based on a percentage of the previous daily ATR value. When a long order is in play, that line also acts as the stop-loss level. Bearish trend is the opposite and is displayed in red, by default. What's unique? Detecting a ranging market structure and avoiding overtrading in a choppy market has always proven to be difficult, even for the most professional traders. This strategy has built-in “choppiness” and volatility filtering scripts that attempts to help reduce the number of false entries. These elements are what makes this strategy unique and different from other indictors mashup strategies. In addition, this strategy takes previous trades into account and “learn” from past trades when determining the optimal stop-loss level to maximize profitability. This allows this strategy to better adapts to changing and evolving market conditions. Strategy statistics All parameters are designed for 5min time frame. At the time of publication, this strategy has proved to be consistently profitable through limited back testing data. Initial capital = $10000 Pyramiding = 1 Slippage = 3 ticks to account for spread Default leverage shown = 9x Quantity per trade = 100% of account Back testing period at time of publication = Apr 11, 2022 - July 22, 2022 Trading Session = 1000 - 1530 Mon-Fri Timeframe = 5 min Gain = 1338.48% Total trades = 253 % Profitable = 45.85% Profit Factor = 2.506 Max Drawdown = 19.36% Extras This release includes default AutoView alerts for trading SPX500USD on Oanda. It includes both long and short order entry alerts, and trailing stop-loss alerts. Please DM for free trial.
Pine Script® strategy
by PtGambler
64
Price action: Trendline Break StrategyThis strategy use trendline to entry. Trendline be drawed from Pivots High/Low. Entry Long: When price break up trendline. Entry Short: When price break down trendline. Risk:Reward setup is 1:1. You can backtest with whichever pair and whichever timeframe. I backtested: - If scalping: should use timeframe 5m, set up SL, TP is 2%. - If swing trade: should use timeframe 1H, set up SL 2%, TP is 3%. Should use with other indicator to increase winrate.
Pine Script® strategy
by TrendCrypto2022
11
"NoSKi Hammer/Star /w angle of ema Backtester % Applied the angle of ema filter to stars formed in an uptrend, and hammers in a downtrend to try to pick good trading entries Uses the average angle of the ema over the last 20 bars (Please note: the angle calculation default value is calibrated for BTCUSD . There is no way currently to code it to be used across multiple pairs. The price to bar ratio has to be adjusted for other trading pairs. Please research price to bar ratio if unfamiliar). I have used a rough calculation so it can be used on other charts but won't be 100% accurate Strategy uses % take profit and stop loss settings, and only enters one trade at a time (wont show entry if already in a position). Separate ATR settings for filtering the size of hammer and star candles. (can filter out candles which are too large or small) Red background colour is for when ema is at or below the set -ve angle slope. Green is for positive angle. Default is set at -45 and 45 degrees. Big thankyou to ZenAndTheArtOfTrading for hammer and star coding, and Cosmic Angle - by cosmic_indicators for calculating the angle of emas. Code was borrowed and used directly from these scripts.
Pine Script® strategy
by noski1
1
Pullback Strategy (Candle Analysis) New VersionFollowing on from the previous Pullback Candle which smashed over 100 likes - here we have the strategy behind the indicator. Signal = Pullback Candle (This will alert on all timeframes and markets when selecting the Alert function for the Signal Entry = When the Pullback Candle is confirmed ie 16:00 - the strategy will enter within the next two candles. Stop loss = 0.25 ATR multiple which means we have a tighter stop loss - if greater than 1 then the stop loss will be more in percentages!!! Take Profit = 1.5 Risk to Reward Model Ema filter - There is a function to modify when looking into trades so as this is a bullish setup we want trades to be over the ema and using this filter will only show trades above the 200ema Time filter - If you want to backtest Uptrends - locate the time of the start and the end of the uptrend - input this data into the settings and this will bring up the trades in that time period. Most efficient to use this script is only in uptrends and this signal is a bullish signal - when using a ema filter we wont get trades under this so narrow down good trades for automation. !!!!TO ENHANCE THE SYSTEM - USE TECHNICAL ANANLYSIS FOR CONFLUENCES Most inefficient way to use the script is when price is in a downtrend and the win rate falls dramatically. The pullback candle has a R-Expectancy of R5 so profits can be elongated when trading manually. As the pullback candle occurs often in a trend we could pyramided trades to say have 5 trades in the same direction but the way i would trade this is to alert R1.5 then look to R2 and above to take profits manually. (((P.S coders.... i need help to work on a profit extension code where exit long when price is below the 9ema (this seems simple but proving difficult) - this would be included onto the script if received.
Pine Script® strategy
by LuxTradeVenture
3
Three EMAs Trend-following Strategy (by Coinrule)Trend-following strategies are great because they give you the peace of mind that you're trading in line with the market. However, by definition, you're always following. That means you're always a bit later than your want to be. The main challenges such strategies face are: Confirming that there is a trend Following the trend, hopefully, early enough to catch the majority of the move Hopping off the trade when it seems to have run its course This EMA Trend-following strategy attempts to address such challenges while allowing for a dynamic stop loss. ENTRY The trading system requires three crossovers on the same candle to confirm that a new trend is beginning: Price crossing over EMA 7 Price crossing over EMA 14 Price crossing over EMA 21 The first benefit of using all three crossovers is to reduce false signals. The second benefit is that you know that a strong trend is likely to develop relatively soon, with the help of the fast setup of the three EMAs. EXIT The strategy comes with a fixed take profit and a volatility stop, which acts as a trailing stop to adapt to the trend's strength. That helps you get out of the way as soon as market conditions change. Depending on your long-term confidence in the asset, you can edit the fixed take profit to be more conservative or aggressive. The position is closed when: The price increases by 4% The price crosses below the volatility stop. The best time frame for this strategy based on our backtest is the 4-hr. Shorter timeframes can also work well, although they exhibit larger volatility in their returns. In general, this approach suits medium timeframes. A trading fee of 0.1% is taken into account. The fee is aligned to the base fee applied on Binance, which is the largest cryptocurrency exchange.
Pine Script® strategy
by Coinrule
3
Optimised RSI strategy for Reversals (by Coinrule)The most common way to use the RSI to spot a good buy opportunity is to check for values lower than 30. Unfortunately, the RSI can remain in oversold territory for long periods, and that could leave you trapped in a trade in loss. It would be appropriate to wait for a confirmation of the trend reversal. In the example above I use a short-term Moving Average (in this case, the MA9) coupled with an RSI lower than 40. This combination of events is relatively rare as reversal confirmations usually come when RSI values are already higher. As unusual as this setup is, it provides buy-opportunities with much higher chances of success. The parameters of this strategy would be: ENTRY: RSI lower than 40 and MA9 lower than the price TAKE PROFIT and STOP-LOSS with a ratio of at least 2. That means that if you set up a take profit of 3%, your stop-loss shouldn’t be larger than 1.5%. The advantage of this approach is that it has a high rate of success and allows you the flexibility of setting up the percentages of the take profit and stop-loss according to your preferences and risk appetite.
Pine Script® strategy
by Coinrule