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Confluence

Algorithm Builder (Signal version)Gentlemen traders As promised, here's the Algorithm Builder (Signal Version) that is an alternative version of that previous indicator : Strategy-Builder-Crypto-Single-Trend-Plots/ This one was quite successful and already 11 person bought for me which is unbelievable. Thank you so much guys for your appreciation of my work The script of this present post is still invite-only because it required years in the making (it's the fruit of all my errors and trials while trading for the past 7 years and when developing trading bots for traders professionally) What's the Algorithm Builder? Simply put, the indicator will detect the confluence/convergence of multiple unrelated indicators and alert you when the ones YOU selected will be in the same direction. (if you didn't understand this it's because I'm french) For example, let's say you select a MM cross and MACD, whenever the MM cross will be green/bullish AND MACD green/bullish also, you'll get a nice .... wait for it..... green/bullish /diamond. Starting to see what I meant before now :) Not sure if I should go as far as introducing the other example but let's go for it. Still, in the same spirit, a confluence of red/bearish MM cross and red/bearish MACD will give .... (finish the sentence and you'll get my appreciation. hint: the color of the diamond will be red) So what's cool about it now ... or I should say even cooler... even more awesome (Barney Stinson, please hive five me for this tool...) is that it can be plugged in a single click to a complete Backtest engine I inspired myself greatly from the Pinescripters Backtesting-Trading-Engine-PineCoders/ but had to make changes to adapt it to my tool. It took me a few days of work and I'll share it also tomorrow so please stay tuned and give me a follow so that you'll be updated In the Backtester itself, I added some features like : - Stop-loss based on supertrend - Hard Exit based on indicators used by the Algorithm Builder I just made it more relevant for my indicator Performance sir? The period selected for the screenshot below is the last 3 months Here's a preview of what you should expect tomorrow as well imgur.com There isn't a BEST configuration for the tool. I made one that matches my psychology and capital. You'll have to find yours by playing with it or asking me for a bit of help if you're lost Will require a bit of work but could be very worth it in the end :) What's next sir? I'm perfectly aware that the indicator doesn't give a lot of signals and that's because it's an entry-level version of all the Algorithm Builders I'm selling now and will be available on my website by end of August (along with the website itself) More advanced versions already made allow to : - get more entries that one is the best addition, in my opinion, it multiplies the gains (and losses :P) as it allows some orders pyramiding and to reinforce a position if the trend is very strong. You won't have to do anything, just to wait for the alerts by email/sms from TradingView - multiple take profit levels - connected to systems like Autoview/ProfitView to automatize even more your trading and send those signals to your broker directly (I will strongly advise starting with a demo account for 1 week or 2 here, I don't want you to burn your capital if any unexpected bad event will happen) - screener If you're interested please message me. I can develop your custom indicator/strategy/backtest/automatic system or if you're ready the take the leap of faith and try this indicator or the more advanced versions And before I get asked, yes this is the tool I use for my own trading as initially, I made it for me. Now sharing a bit of my work (and too much of my life) with the community PS ____________________________________________________________ Feel free to hit the thumbs up as it shows me that I'm not doing this for nothing and will motivate to deliver more quality content in the future. - I'm an officially approved PineEditor/LUA/MT4 approved mentor on codementor. You can request a coaching with me if you want and I'll teach you how to build kick-ass indicators and strategies Jump on a 1 to 1 coaching with me - You can also hire for a custom dev of your indicator/strategy/bot/chrome extension/python - if you like my work and wants to buy me some coffee : - BTC TipJar: 3MKDve7stWTe1io99oFxeQXvP8XB4zCQ8m - LTC TipJar: MC5oeBAhw9BLqyi65TR3J1Lid8io9uHADw
Pine Script® indicator
by Daveatt
21
Confluence Strategy Backtest This is modified version of Dale Legan's "Confluence" indicator written by Gary Fritz. ================================================================ Here is Gary`s commentary: Since the Confluence indicator returned several "states" (bull, bear, grey, and zero), he modified the return value a bit: -9 to -1 = Bearish -0.9 to 0.9 = "grey" (and zero) 1 to 9 = Bullish The "grey" range corresponds to the "grey" values plotted by Dale's indicator, but they're divided by 10. You can change long to short in the Input Settings Please, use it only for learning or paper trading. Do not for real trading.
Pine Script® strategy
by HPotter
Confluence Strategy This is modified version of Dale Legan's "Confluence" indicator written by Gary Fritz. ================================================================ Here is Gary`s commentary: Since the Confluence indicator returned several "states" (bull, bear, grey, and zero), he modified the return value a bit: -9 to -1 = Bearish -0.9 to 0.9 = "grey" (and zero) 1 to 9 = Bullish The "grey" range corresponds to the "grey" values plotted by Dale's indicator, but they're divided by 10.
Pine Script® indicator
by HPotter
1
Confluence script This is modified version of Dale Legan's "Confluence" indicator written by Gary Fritz. ================================================================ Here is Gary`s commentary: * I moved the core Confluence computations into a Confluence function. Since the Confluence indicator returned several "states" (bull, bear, grey, and zero), he modified the return value a bit: -9 to -1 = Bearish -0.9 to 0.9 = "grey" (and zero) 1 to 9 = Bullish The "grey" range corresponds to the "grey" values plotted by Dale's indicator, but they're divided by 10. So -0.4 is equivalent to "grey -4" in Dale's indicator. * I got rid of a bit of extra computation in the function. I didn't try to do a hard-core Pierre-style optimization :-), but I noticed several significant chunks of calculation were being done several times each bar, and I commented them out and replaced them with an intermediate variable. It still calls sine/cosine a dozen times on each bar, which accounts for the bulk of the processing time, but I think it's a bit easier to understand what the code is doing this way. (It also seems to work better -- see below.) For the most part I didn't try to use mnemonic names for these intermediate variables, because I don't understand exactly what the values represent!! * I'm appending a simplified Confluence indicator using the function. * I've also appended a simple Confluence system. This system sets an entry stop above/below the current bar if Confluence goes into bull/bear mode, and similarly sets an exit stop below/above the bar where it exits bull/bear mode. There's also an optional "aggressive" stop mode that tightens the stops if the market moves in your direction; for example, if the high is 1000 and your "Trigger" offset is 2, the initial stop is set at 1002. If the next bar has a high of 997, the stop is tightened to 997+2=999. Interestingly, when I first wrote this system, I ran into a strange MaxBarsBack problem. The Confluence indicator worked just fine with a MaxBarsBack setting of "Auto-Detect." But systems don't have a setting like that -- you have to specify a fixed value. But NO fixed value (up to the maximum of 999) worked for either the system OR the indicator! And I couldn't see anywhere that it was looking back that many bars. Then, when I did the optimization on the Confluence code, the MaxBarsBack problem mysteriously disappeared. Sometimes TradeStation is just spooky... Any ideas what happened? I've appended a sample system report for the system on SPX, using the default parameters. The system actually does pretty well. It probably won't make anyone rich, but I thought some folks might enjoy playing with it. There are some other things you could do with it -- e.g. it might be interesting to change it to look for long opportunities when Confluence hits -9, and short when it hits 9.
Pine Script® indicator
by HPotter
1